Efficiency assessment of business models: the conceptual framework in the context of Industry 4.0

Abstract

Industry 4.0 describes the phenomenon when wireless connectivity augments business processes, it not only improve work processes but also is radically impacting business models. However, there is a paucity of scholarly enquiry in this field, especially the economic efficiencies to be obtained. This article analyses scientific publications related to an efficiency assessment and business models of Industry 4.0, approaches the dynamic efficiency and develops a conceptual framework that assesses the efficiency of transformed and disrupted business models. The paper is based upon a systematic review of scientific publications indexed in Clarivate Analytics and evaluation by experts. The research revealed a lack of holistic assessment of efficiency of business models and its parts in the current literature. It also focuses on the impact of efficiencies at the enterprise, societal and environmental level. The paper makes recommendations for managers and policymakers at a national level on the assessment of efficiencies derived from Industry 4.0 to the whole society. The research has several limitations: literature review only in Clarivate Analytics limit from more recent results, very rare publications include a multidisciplinary approach to cover social and environmental aspects, also most researches use historical data and do not use ex-ante approach.