The interpretation of Industry 4.0 by Hungarian technology-oriented startups

  • Peter HALMOSI University of Szeged
Keywords: Startups, Industry 4.0, Hungary, business scaling

Abstract

Technology-oriented startups are valued participants of the economy in the 21st century. By inventing and bringing new technologies to the market, this sector supports not only the growth of competitiveness in the corporate sector but that of the standard of living as well. These companies reinterpret the meaning of enterprise by building new functional business strategies, collaborations and business models. As of changing production sequences, conditions of business activity will change together. In the near future, not only the activity of organisations but of technology and business platforms, networks shall be controlled and developed along the value production chain. As attitude to customers will undergo serious changes, the meaning of team working will also be reinterpreted. The carrier of changes will be the Industry 4.0 framework. Due to this, information technology will not exclusively support business but establish new business value by utilizing companies’ tools and resources. The aim of this paper is to present by a recent survey the attitude of Hungarian technology-oriented startups to the changing business environment in the era of Industry 4.0 which can already be observed in many sectors. The author of this paper believes that technology-oriented startups may take serious role in Europe to fight against low wage countries in the world.

Author Biography

Peter HALMOSI, University of Szeged

Institute of Finance and Economic Relations, PhD.

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Published
2019-12-30
How to Cite
HALMOSI, P. (2019). The interpretation of Industry 4.0 by Hungarian technology-oriented startups. Timisoara Journal of Economics and Business, 12(2), 149-164. Retrieved from https://www.tjeb.ro/index.php/tjeb/article/view/324
Section
Articles