Theoretical Economics Letters

Volume 14, Issue 1 (February 2024)

ISSN Print: 2162-2078   ISSN Online: 2162-2086

Google-based Impact Factor: 1.19  Citations  h5-index & Ranking

The Impact of the Fourth Industrial Revolution on Business Performance and Sustainability: A Literature Review

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DOI: 10.4236/tel.2024.141006    100 Downloads   751 Views  
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ABSTRACT

Today, Industry 4.0 is revolutionizing the manufacturing sector by offering unique opportunities for good durability and better performance. It optimizes production and minimizes waste and waste with a more efficient use of resources. In addition, predictive maintenance and logistics optimization reduce the environmental impact. In terms of performance, Industry 4.0 increases production through automation, improves quality as a result of faster detection of defects and errors, reduces production times and increases flexibility to adapt to changing requirements, however, implementation requires significant upfront investments, data security concerns and ongoing staff training. Despite these challenges, companies that adopt Industry 4.0 remain competitive in a changing market while contributing to a more sustainable and efficient future. Indeed, this article takes an in-depth look at the impact of the Fourth Industrial Revolution on business sustainability and performance, highlighting its benefits, challenges and opportunities. In addition, it analyzes the implications of changes related to new technology on the sustainability of companies from an economic and environmental point of view. However, this study shows that the Fourth Industrial Revolution offers significant and significant opportunities to improve performance, for example through process automation, supply chain optimization, and increased operational efficiency. In addition, companies that strategically integrate technologies are more likely to benefit from sustainable growth, increased agility and enhanced competitiveness. Finally, this literature review is based on a systematic approach to the analysis of old and academic works, and relevant reports. The research relies on academic journals and official publications to gather a diversity of perspectives on the impact of the Fourth Industrial Revolution. The analysis will be structured around key themes such as digital transformation, technological innovation, change management and corporate sustainability.

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Dahmani, M. (2024) The Impact of the Fourth Industrial Revolution on Business Performance and Sustainability: A Literature Review. Theoretical Economics Letters, 14, 94-106. doi: 10.4236/tel.2024.141006.

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