The Characteristics of the Fourth Industrial Revolution: Buzzword, Hype or a Radical Change?

Koloszár, László; Németh, Nikoletta

doi:10.17836/ec.2020.1.091

Cited by 3 publications

(1 citation statement)

References 3 publications

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“…The megatrends that can be observed in the current crisis-ridden world, such as Industry 4.0 [11], the advancement of digitalization and sustainability aspects, require continuous adaptation.…”

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Analysis of social media marketing activities of Hungarian accommodation providers and catering SME’s from the aspect of lean principles

Nyikos,

Keresztes,

Pankotay

2023

AABEco

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Lean management can be viewed as an attitude that organizes and directs business processes while keeping a few main guiding principles in focus such as maximizing the customer value while minimizing losses, resulting in the creation of increased customer value by using fewer resources. The lean thinking can successfully applied in the field of social media marketing when it comes to understanding the logical process of the individual operations and to increase the overall efficiency of the campaigns while improving the key performance indicators. The basic principles of lean can serve as the basis in any system and in any business, and for this reason, basic principles are also taken into consideration at strategic levels. The various platforms have become smart, the advertising alternatives can be highly customized based on the individual needs of businesses, which can also result in higher overall efficiency. With the help of the available social media platforms, businesses are not only able to reach their desired audience but can also measure the success of their individual campaigns. The main goal of the research is to find an answer to what parallels and connections can be discovered between online marketing and lean theories. The research aims to answer the questions of how the process of creating and maintaining social media marketing strategies can be characterized from the aspect of lean thinking while focusing on discovering whether the origin of the individual campaigns – either in-house or outsources – have any effect on the extent of how well the lean principles are applied. During the course of the research, accommodation providers and catering SMEs located in various Hungarian cities were visited in order to use a questionnaire to assess the social media marketing processes of the given units.The research proved that 70% of the social media activity in the examined region was outsourced and the vast majority of businesses (57%) do not track the effectiveness of their marketing activities regularly. The potential presence of lean in marketing processes had been monitored.

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Analysis of social media marketing activities of Hungarian accommodation providers and catering SME’s from the aspect of lean principles

Nyikos,

Keresztes,

Pankotay

2023

AABEco

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Adults’ Readiness to Embrace 4th Industrial Revolution Emerging Technologies in the South African Context

Mabanza

2024

Lecture Notes in Networks and Systems

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Developing new business models from a controller perspective

Szóka

2022

Proceedings of the European Union’s Contention in The Reshaping Global Economy

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The Fourth Industrial Revolution and its effects, the pandemic and the new market trends that are emerging as a result, pose significant challenges for companies. Flexibility is no longer enough, adapting to digitalization, developing a new business model using an integrated work environment and self-service business intelligence are needed. The controller plays a key role in this process, as a business partner is actively involved in building the models. The controller has several new or refocused tools at their disposal, such as multidimensional decision-making procedures, digital reports, scenario analysis, specialized KPIs, and more. This study reviews how these tools can help shape a new business model, and how this digitalization can help.

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The Characteristics of the Fourth Industrial Revolution: Buzzword, Hype or a Radical Change?

Cited by 3 publications

References 3 publications

Analysis of social media marketing activities of Hungarian accommodation providers and catering SME’s from the aspect of lean principles

Analysis of social media marketing activities of Hungarian accommodation providers and catering SME’s from the aspect of lean principles

Adults’ Readiness to Embrace 4th Industrial Revolution Emerging Technologies in the South African Context

Developing new business models from a controller perspective

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