Improving competitiveness through technological and industrial innovation

Abstract

The globalization of markets affects how enterprises conduct business. In addition to the challenges of the globalized market, enterprises have to adapt to changes that the coronavirus pandemic has brought to the global business environment. In order for domestic enterprises to achieve competitiveness in such market conditions, technological and industrial innovations are an imperative. In this paper the application of Industry 4.0 technologies is discussed and the potential of such technologies for improving competitiveness of domestic enterprises is addressed. The paper provides a solid basis for future research in this domain.