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Impact of Industry 4.0 on business studies

Author

Listed:
  • Margarita Išoraitė

    (Vilniaus Kolegija / Higher Education Institution, Lithuania)

  • Gintarė Gulevičiūtė

    (Vilniaus Kolegija / Higher Education Institution, Lithuania)

  • Nikolaj Ambrusevič

    (Vilniaus Kolegija / Higher Education Institution, Lithuania)

Abstract

The purpose of this paper is to investigate the methods and peculiarities of Industry 4.0 in developing business studies at the University of Applied Sciences. State-of-the-art technologies such as cloud computing, additive manufacturing, advanced robotics, augmented/ virtual reality, big data analysis and artificial intelligence are applying their concepts in higher education in order to meet the specific needs of each learner with acquired competencies in higher education. This paper analyses the scientific literature of Industry 4.0 and related topics, presents the empirical study which is focused on analysis of the learners’ expectations and University of Applied Sciences curriculum. It shows that many students are willing to enroll in new technological courses. The quantitative study is presenting the main novelty of the research and is intended to create recommendations of how to incorporate Industry 4.0 elements in developing business studies at the University of Applied Sciences. Those practical implications could be useful for higher education institutions and are focused on practical value.

Suggested Citation

  • Margarita Išoraitė & Gintarė Gulevičiūtė & Nikolaj Ambrusevič, 2022. "Impact of Industry 4.0 on business studies," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 9(3), pages 64-75, March.
    • Handle: RePEc:ssi:jouesi:v:9:y:2022:i:3:p:64-75
    DOI: 10.9770/jesi.2021.9.3(4)
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    References listed on IDEAS

    as
    1. Scott Armstrong, J. & Brodie, Roderick J. & McIntyre, Shelby H., 1987. "Forecasting methods for marketing: Review of empirical research," International Journal of Forecasting, Elsevier, vol. 3(3-4), pages 355-376.
    2. Judit Nagy & Judit Oláh & Edina Erdei & Domicián Máté & József Popp, 2018. "The Role and Impact of Industry 4.0 and the Internet of Things on the Business Strategy of the Value Chain—The Case of Hungary," Sustainability, MDPI, vol. 10(10), pages 1-25, September.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Industry 4.0; Internet of Things; Education 4.0; Robotics; Big Data;
    All these keywords.

    JEL classification:

    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General
    • A22 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - Undergraduate
    • C40 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - General
    • C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods
    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
    • L80 - Industrial Organization - - Industry Studies: Services - - - General
    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General

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