Examination of The Relationship Between Sustainable Industry 4.0 and Business Performance
Judit Oláh, Andrea Novotná, Imran Sarihasan, Edina Erdei, József Popp
circular economy, sustainability factors, competitiveness, Industry 4.0 tools, risk factors
A circular economy recycles previously manufactured products at the end of their lifecycle with minimal or zero waste generation and the use of additional new resources. The priorities of the recycling system include waste minimisation, reuse, remanufacturing and improvement. Innovative methods can therefore be integrated into factories to ensure waste is used to feed energy systems, rather than them exacerbating deforestation. As part of the research presented in this paper, we examined the impact of sustainability factors within Hungarian food companies, Industry 4.0 tools, as well as other factors that support or hinder business performance. The article aims to present the tools used for evaluating the efficacy and competitiveness of the business models of Hungarian food companies within the context of Industry 4.0.
The questionnaire survey was conducted between 2019 and 2020, during which data were collected from 276 food companies. The data were subsequently analysed using a broad range of statistical methods, including Cronbach’s alpha index, factor analysis, K-mean clustering, one-way analysis of variance, cross-tabulation analysis, significance-effect matrix, Fornell-Larcker criterion, composition reliability index, and for the PLS path analysis, mean explained variance index, heterotrait-monotrait ratio, and predictive relevance. Researching sustainability factors is a means by which to strike a balance between economic, social and ecological factors so that a company can be efficient, effective and functional at the same time. Sustainable Industry 4.0 is an area of research that has yet to be explored by food companies.
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Oláh, J., Novotná, A., Sarihasan, I., Erdei, E., & Popp, J. (2022). Examination of The Relationship Between Sustainable Industry 4.0 and Business Performance. Journal of Competitiveness, 14(4), 25–43. https://doi.org/10.7441/joc.2022.04.02