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Innovation, A Key Element Of Business Models In The Fourth Industrial Revolution

Author

Listed:
  • Dragos TOHANEAN

    (The Bucharest University of Economic Studies)

  • Sorin-George TOMA

    (University of Bucharest)

Abstract

The aim of the paper is to present the relationship between the concepts of innovation and business models in the Fourth Industrial Revolution. In this respect, the authors present the case of a German company, Deutsche Bahn (DB). Innovation constitutes a core factor that will secure our society's prosperity in the future, as it creates real and sustainable value. A key element in the successful path to Industry 4.0 is the expansion of new technologies or processes towards the development of innovative business models. The continuous worldwide changes, the shift from physical to digital or from closed-sources to open-sources and the new ways of doing business (networks) lead to the development of companies by creating and implementing business models in which innovation is constantly required. In order to reach the aim of the paper the authors used a quantitative research method and a case study. The findings of the research showed that innovation represents a key element in developing new business models that lead to better performances in any company that aims to be part of the Fourth Industrial Revolution.

Suggested Citation

  • Dragos TOHANEAN & Sorin-George TOMA, 2018. "Innovation, A Key Element Of Business Models In The Fourth Industrial Revolution," Network Intelligence Studies, Romanian Foundation for Business Intelligence, Editorial Department, issue 12, pages 121-130, December.
    • Handle: RePEc:cmj:networ:y:2018:i:12:p:121-130
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    References listed on IDEAS

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    1. Dosi,Giovanni & Galambos,Louis & Gambardella,Alfonso & Orsanigo,Luigi (ed.), 2013. "The Third Industrial Revolution in Global Business," Cambridge Books, Cambridge University Press, number 9781107028616, September.
    2. de Vries, Jan, 1994. "The Industrial Revolution and the Industrious Revolution," The Journal of Economic History, Cambridge University Press, vol. 54(2), pages 249-270, June.
    3. Gault, Fred, 2018. "Defining and measuring innovation in all sectors of the economy," Research Policy, Elsevier, vol. 47(3), pages 617-622.
    4. Andrew Atkeson & Patrick J. Kehoe, 2002. "The transition to a new economy after the Second Industrial Revolution," Proceedings, Federal Reserve Bank of San Francisco, issue Nov.
    5. Jeremy Greenwood, 1999. "The Third Industrial Revolution," Economic Review, Federal Reserve Bank of Cleveland, issue Q II, pages 2-12.
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    Cited by:

    1. Cătălin Grădinaru & Sorin-George Toma & Ștefan Catană, 2020. "Innovation Around the World: An Analysis of the Top 10 Most Innovative Companies in the Period 2018-2020," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 340-346, December.

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    More about this item

    Keywords

    Innovation; Business Model; Fourth Industrial Revolution; Deutsche Bahn;
    All these keywords.

    JEL classification:

    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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