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Please use this identifier to cite or link to this item: http://dspace.vgtu.lt/handle/1/4307

Title: Economic assessment of business model transformation in Industry 4.0
Other Titles: Verslo modelio transformacijos Pramonė 4.0 sąlygomis ekonominis vertinimas
Authors: Kovaitė, Kristina
Issue Date: 18-Oct-2021
Publisher: Vilniaus Gedimino technikos universitetas
Citation: Kovaitė, K. 2021. Economic assessment of business model transformation in Industry 4.0: doctoral dissertation. Vilnius: Vilniaus Gedimino technikos universitetas. 168 p.
Abstract: Industry 4.0 solutions envision a significant impact on the potential of economic efficiency and growth in industries. Some authors suggest up to 50 per cent of overall efficiency increase and up to 200 per cent of output volume increase. The problem addressed in this dissertation lies in facing a high uncertainty balanced with the potential of high efficiency and growth due to the rapid and comprehensive effect of Industry 4.0 on industry and society. New technologies rapidly appear in the market, but lack the historical data to benchmark a possible return on investment. This research object is the economic assessment of growth, efficiency and risk involved when transforming a business model in response to Industry 4.0 in manufacturing. The objective of the dissertation is to examine the interrelationship between Industry 4.0 enablers and business models, to design and empirically test the integrated economic assessment concept of the allocation of the financial, human and time resources when transforming the business model in Industry 4.0. The dissertation resolves the following key tasks: 1) using scientific literature analysis, to systemise the scientific approaches and results in the assessment of economic efficiency to be used to assess the alternatives of the allocation of financial, human and time resources when transforming business models due to Industry 4.0 technological and socio-economic implications; 2) to identify Industry 4.0 key factors that influence the transformation of a business model; 3) to analyse and determine the key indicators to assess the alternatives of the allocation of financial, human and time resources when transforming the business model in response to Industry 4.0; 4) to develop the original concept for the economic assessment; 5) to empirically approve the created method in large furniture manufacturing companies, introducing the limitations of the methodology and future research directions. The dissertation results present an integrated economic assessment concept consisting of three parts: a 6-step economic assessment logframe, four composite indexes with 33 component indicators: indexes of growth, efficiency, financial risks and non-financial risks, and the growth-efficiency matrix with a risk component, which offers four segments. The integrated economic assessment concept facilitates the assessment of the allocation of resources when transforming business models through the implementation of Industry 4.0 solutions. The suggested integrated economic assessment concept allows investors and shareholders to make more grounded investment decisions, executive decision-makers to plan and reallocate resources when transforming business models with the implementation of Industry 4.0 solutions, and policymakers to plan more focused regional development and EU investment programmes.
Description: Doctoral dissertation
URI: http://dspace.vgtu.lt/handle/1/4307
Appears in Collections:Socialinių mokslų daktaro disertacijos ir jų santraukos

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K_Kovaite_dissertation.pdfDissertation3.16 MBAdobe PDFView/Open
Annex C.pdfAnnex201.38 kBAdobe PDFView/Open
Annex B.pdfAnnex280.08 kBAdobe PDFView/Open
Annex A.pdfAnnex285.65 kBAdobe PDFView/Open

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