Different Aspects of Industry - Essay Example

International Trade

Executive Summary

The concept of industry 4.0 is the latest one and it simply means digitalisation of the manufacturing sector. In this new era of technology all the manufacturing equipments are to be controlled virtually through the cyberphysical system. There are mainly nine core elements which are the key drivers of the industry 4.0. This new concept actually influences the performance as well as the effectiveness of the operations of the organisation. It has been accepted by many large multinational companies but at the same time there are certain challenges as well as threats associated with the same. Moreover, there are various opportunities which are provided by the new technological enhancement in the operational system. The companies which adopted this are found to be successfully operating as well as recording profit. Hence, transforming the business by providing it a new structure with industry 4.0 is the best option for the large scale companies.

Content

Introduction4

About industry 4.05

Businesses related to industry 4.06

Challenges of industry 4.0 set organizations trading on international basis8

Threat and opportunities regarding to international trade11

Conclusion16