Canvas B.M. in the global revolutionary era of digitisation in the industry 4.0: A review

Abstract

Research background: Industry 4.0, also known as the Fourth Industrial Revolution, describes the digitisation of the manufacturing industry. The transition to 4.0 is crucial for manufacturing companies to maintain a competitive advantage and take advantage of new opportunities. This article contributes to research with a framework for the description, analysis, and classification of Canvas B.M. for 4.0. Purpose of the article: The following report provides a review of the literature to expand our knowledge of how Industry 4.0 affects business models. This article aims to specify and map the level of knowledge about the Canvas business model and its application in the new revolutionary era of the digital world in the manufacturing industry 4.0. The findings deepen the understanding of how 4.0 affects the manufacturing industry, B.M., and the behaviour of the current economic environment. Methods: A literature review. Then the comparison of the author’s views on the use of the business model, innovation, and adaptation under the influence of digitisation. The literature survey was conducted in articles indexed in the Web of Science and Scopus to carry out a critical analysis of collected data and the exposition of some conclusions and future research opportunities. Findings & value added: A lot of research in the field of industry 4.0 using Canvas B.M., but very often, the view of the Czech business environment is neglected. Focusing on this area may lead to future research. This literary review focuses on the latest literature.

Keywords

• canvas business model
• digitisation
• globalisation
• industry 4.0