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The onset of the Fourth Industrial Revolution and the formation of market structures


Kraft Y., Zaytsev A.V.
(about the authors)

Kraft Yirzhi – (Technical University of Liberec)

Zaytsev Aleksandr Vladimirovich – (Moscow State Technological University STANKIN)

Published in:
Russian Journal of Innovation Economics
– Volume 7, Number 4 (October-December 2017)

JEL classification: D40, D42, D43, O31

Keywords: cartel, competitive environment, competitive space, firm in a competitive periphery, fourth industrial revolution, high-tech enterprise, Industry 4.0, market structure, monopoly, monopsony, oligopoly, oligopoly with a dominant firm


Citation:
Kraft Y., Zaytsev A.V. (2017). The onset of the Fourth Industrial Revolution and the formation of market structures. Russian Journal of Innovation Economics, 7(4), 281-298. doi: 10.18334/vinec.7.4.38683


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Abstract:

The article analyzes the impact of the concept Industry 4.0 on the economic development of society. We prove that the forms of market structures constantly develop and the onset of the Fourth Industrial Revolutionan is an effective factor of such development. We show the role and transformation of market structures at the initial stage of the Fourth Industrial Revolution. We also show how the concept Industry 4.0 and economic and technological development of society affect the change in the competitive space, and how the market structures have a significant impact on the functioning of economies. On the basis of the analysis we reveal the urgency of implementing advanced methods of organizing and managing business processes. We argue the need to develop organizational and economic mechanisms for the transition and adaptation of enterprises under changing conditions in the economic space. In this regard, we give recommendations related to the fact that with the onset of the Fourth Industrial Revolution, enterprises will have to use and develop various management technologies, for example, the concept of lean production.








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