The Industry 4.0 concept describes a decentralized production chain that extends from design to the supply chain, production, distribution as well as customer service. Cyber Physical Systems (CPS) employ software and internet-connected machines that communicate in real-time to reduce error rates and increase efficiency. The basis is the co-operation of separate control units that are capable of autonomous decision-making, managing the assigned technological unit and in particular becoming an independent and full member of comprehensive production units. The Industry 4.0 concept requires continuous innovation and education that not only depends on the peoples’ skills but also on organizational culture. Appropriate managerial approaches play a vital role in the development of organizational culture. Most studies discuss technical aspects, but do not pay attention to managerial approaches and organizational culture, which are a major factor influencing the success of this concept. The aim of the paper is to examine the level of organizational culture in the Czech Republic and to seek appropriate managerial approaches for the development of organizational culture that can support the environment for innovation in the organization and therefore facilitate the entrepreneurship in the Industry 4.0 concept. A partial goal will be, among other things, to identify the implications of Industry 4.0 for human resources. In order to determine organizational culture in organizations, a large study was carried out in the form of a questionnaire survey − the Czech translation of Wallach᾽s Questionnaire (1983). According to the findings, the respondents perceive the organizational culture in the organizations under review is more bureaucratic and supportive than innovative. In their view the signs of innovative culture are not so striking. It is necessary to change managerial approaches to support innovative solutions.

Smart, connected products have the potential to shift rivalries, opening up numerous new avenues for differentiation and value-added services. New entrants in a smart, connected world face significant new obstacles, starting with the high fixed costs of a more complex product design, embedded technology and multiple layers of new IT infrastructure. As smart, connected products expand an industry’s scope and the boundaries of competition, many companies will need to rethink their corporate purpose. As products continue to communicate and collaborate in networks, which are continuously expanding both in number and diversity, many companies will have to re-examine their core mission and value proposition. The authors present an analysis of changes that were initiated by applying new of smart and connected product technologies during creative discussions about disruptive innovation development. The objective of the article is to seek answers to the following research questions: Q 1: What is the role and significance of the new concept of products obtained as a result of substantial innovations? Q 2: How does the new concept of products impact the entrepreneurial strategy of organizations? Q 3: Does this concept trigger a change to the rules of competition?

Although existing studies have acknowledged the impacts of Hofstede's cultural dimensions on the proactive behaviors of employees or innovations in various contexts, they have not examined the mediating role of proactive behavior between Hofstede's cultural dimensions and entrepreneurial innovativeness. Thus, this study aimed to investigate the mediating impact of proactive behavior between six of Hofstede's cultural dimensions and entrepreneurial innovativeness. Data were collected through standardized surveys from 150 retail entrepreneurs running businesses in China. SPSS and Wrap PLS SEM were used to analyze the data. The findings revealed a positive and significant impact of all six of Hofstede's cultural dimensions, including low power distance, low uncertainty avoidance, long-term orientation, indulgence, collectivism, and masculinity, on proactive behavior among entrepreneurs. Additionally, the mediating influence of proactive behavior was positive and significant for all studied Hofstede cultural dimensions and entrepreneurial innovativeness among entrepreneurs. This study provides important implications for entrepreneurs by emphasizing the importance of proactive behaviors for entrepreneurial innovativeness. Consequently, this study contributes to the existing literature by providing empirical evidence regarding the mediating role of proactive behavior among cultural dimensions and entrepreneurial innovativeness. It suggests that entrepreneurs should exhibit proactive behaviors to implement various innovative practices within their firms.

The omnipresence of risk prevails in almost every aspect of human life. Individuals and societal factors are pivotal in the decision-making process to judge acceptability and tolerability of risk. Tolerability of risk (ToR) is characterized by dynamism pinned in the process of decision making that helps to gauge the society and individual’s risk. The energy transition implies switching the energy system from fossil fuels or any traditional mechanism to modern renewable sources that are sustainable. The energy transition is paramount important in the current global energy system to attain sustainable goals for organizations. This study used the positivism research paradigm to address the research questions. The quantitative approach helps to examine the cause-and-effect relationship. It also helps to collect systematic information to meet the objectives of the research. A total sample of 300 was selected for the data collection from renewable energy companies. The study used positivism research philosophy applied deductive approach. The data is analyzed through PLS-SEM. It is summarized that the scale of risk acceptability and tolerability in Pakistan is moderate which encourages companies to work progressively and increases sociocultural activities to make society a partner of this new shift in energy transition that will ultimately increase the level of risk acceptability. Nevertheless, as a society, people are neither high-risk takers nor risk avoiders due to income constraints, macroeconomic uncertainty, and political instability.

Employee job satisfaction is essential for organizations because it influences motivation as well as productivity, and consequently the overall performance of an organization. As the COVID-19 pandemic disrupted many work-related processes and practices, the Industry 5.0 framework formulated new approaches for a sustainable and resilient European industry. The aim of this study is to evaluate the effects of the pandemic on job satisfaction in terms of gender differences and firm size in the context of the Industry 5.0 paradigm. Job Satisfaction Surveys (JSS) from the year 2013 to 2021 were analyzed. Our results indicate that in the Czech Republic, overall job satisfaction did not decline during the pandemic, and women were slightly more satisfied than men. Moreover, overall job satisfaction was slightly higher in small firms. These are surprising results, given the negative impacts on employment reported by many countries. We explore the differences in government policies and programs enacted during the pandemic to assist employers and employees to mitigate the negative impacts of the pandemic. In general, Czech and EU policies appeared to be better in mitigating unemployment rates than US policies. The findings are valuable for crafting best practices for organizations and future policy and program planning for governments.

This study examines the influence of financial distress on corporate restructuring decisions and whether this restructuring varies across the Firm Life Cycle (FLC) stages of Pakistani non-financial listed firms for the 12 years from 2005 to 2016 inclusive. FLC stages and financial distress are measured using the Dickinson model and Altman Z-score, respectively. Corporate restructuring is segregated into equity and debt restructuring. The data are analyzed using a panel logistic regression model. The results reveal that financial distress is negatively associated with corporate debt restructuring decisions and positively associated with corporate equity restructuring decisions. Further analysis shows that new, growing and mature firms have positive associations with equity restructuring decisions and negative associations with debt restructuring decisions, while declining firms prefer debt restructuring. This study has important implications for corporate managers and policy makers.