THE FOURTH INDUSTRIAL REVOLUTION AND A MODERN MODEL OF FUNCTIONING OF ECONOMIC SYSTEMS

The article examines the main points of the book by T. Bloommart and S. Brook “The Fourth Industrial Revolution and Business: How to Compete and Develop in the Era of the Singularity”. The author reflects on the phenomena “technological singularity”, “singular environment”, “ecosystem”, “technologic...

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Bibliographic Details
Published in:Vestnik Volgogradskogo gosudarstvennogo universiteta. Serii͡a︡ 3, Ėkonomika, pravo Ėkonomika, pravo, 2021-01, Vol.23 (4)
Main Author: Averina, Irina S
Format: Article
Language:Russian
Subjects:
Business administration
Business competition
Economic development
Economic models
Impact analysis
Industry 4.0
Innovations
Labor
Mass production
Singularities
Strategic management
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Summary:The article examines the main points of the book by T. Bloommart and S. Brook “The Fourth Industrial Revolution and Business: How to Compete and Develop in the Era of the Singularity”. The author reflects on the phenomena “technological singularity”, “singular environment”, “ecosystem”, “technological platform”, “exponential and divergent development of economic systems”, “synergistic innovation culture” and their defining influence on the Industrial Revolution 4.0. The issues of changes in the labor market (the emergence of new professions and the dying off of a number of old ones), in business management models (the need for bimodal business management), radical transformations of competitive advantages (avoiding mass production and focusing on a specific consumer, returning capital from countries with cheap labor), the impact of existing or generated institutional barriers on economic systems of various levels within the studied phenomenon. The tasks of economic entities have been determined for the mega- (economic growth, dissonance between environmental friendliness and innovation, the impact of the global financial system on the rate of technological change); macro- ; and meso- (creation and development of new technological platforms and ecosystems, personnel training); microlevel (implementation of a bimodal model management, identification and timely preparation of the organization for adaptation in the presence of disruptive technologies in the industry, the need for the exponential development of the organization), which confront them with new technological realities that require timely resolution in the future.
ISSN:1998-992X
2408-9478
DOI:10.15688/ek.jvolsu.2021.4.18