Changes in management during transformation of power industry

Abstract

Purpose: Given the considerable pollution of land, air, and water, it seems urgently necessary to change the sources of energy production so that their use does not pollute the environment. Special priority should be given to the generation of electricity from solar energy (photovoltaics) and wind. This article aims to present conceptual changes in the development of Industry 4.0 and to point out further research directions. Design/Methodology/Approach: The first part of the article introduces possible changes, the concept of Industry 4.0, management factors, and an overview of the research results to date. To identify the changes taking place, a survey was conducted with a group of 330 managers from 5 countries (USA, United Kingdom, Poland, Hungary, India, and Georgia). In the second part, further empirical research (related to organizational structure and decision making) and its implementation in organizations is proposed. Findings: The summary contains conclusions on management changes based on the results of the presented research. Practical Implications: The research results collected can provide an impetus for the organization's development in a direction that facilitates participation in the processes of sustainable development. These processes contribute to the improvement of the ecosystem and the rationalization of energy sources and the way they are used. Originality/Value: The research results show that organizations need to consider and adapt to changing conditions. An analysis shows to implement management changes and be competitive, organizations operating in the industry 4.0 era should first build their so-called "ecosystem" by assessing their maturity level in order to understand what is achievable.