Brief summary of the course The progressive digital transformation of societies has affected all industrial clusters, allowing for innovation in the way of producing, establishing commercial relationships, managing or planning. The development of the industry will be increasingly boosted by the disruptive technologies that are driving the fourth industrial revolution. This course unit aims to present the evolution of the industrial economy up to the current concept of industry 4.0, focusing on aspects related to the digitization of processes and products, management and use of information and strategic behavior in the digital market.
Learning objectives (knowledge, skills, and competences to be developed by students) - Introduce to the basic concepts of industrial economics, forms of market structure in imperfect competition and how these influence the behavior of companies. - To give a historical perspective on industrial evolution, with particular focus on fourth industrial revolution (Industry 4.0). - Describe the process of dematerialization and digitization of the industry, focusing on the role of change facilitators and their impacts in driving digital innovation in products, processes, and business models. - Understand the importance of knowledge management, in a context of on-demand economy, to enable the intelligent development that increases the efficiency of the production process. - Realize the need for permanent adaptation to change, due to the rapid evolution of markets, conditioning strategic behavior to a highly competitive business environment
Competences to be developed - Understand the organization of markets at each moment, in a dynamic context associated with the new industrial economy; - Recognize the importance of the industrial evolution, especially after the digital revolution, as a steping stone for the development of new operational models based on the interaction of physical, digital and biological domains; - Identify the main drivers of the dissemination of digital transformation and information technology, which facilitate industrial evolution towards the context of industry 4.0; - Understand the potential of a network economy, how knowledge should be managed, especially in terms of its use and protection, and the combination of human and artificial intelligence; - Define business strategies and take advantage of the opportunities and challenges of the fourth industrial revolution, by preparing companies to harvest the benefits of this transformation process
Programme
1. INTRODUCTION TO THE INDUSTRIAL ECONOMY 1.1 From basic concepts to market structures 1.2 Evolution of the Structure-Behavior-Results paradigm
2. THE INDUSTRIAL REVOLUTION 2.1 Historical Context 2.2 The Third Industrial Revolution 2.3 Industry 4.0
3. INDUSTRY DIGITALISATION 3.1 Trends and impacts 3.2 Digital Industrial Platforms 3.3 New Business Models and Customization 3.4 Digital Innovation and Standardization 3.5 Internet of Things and Smart Development
4. KNOWLEDGE MANAGEMENT 4.1 Acquiring, processing and management of data 4.2 Cybersecurity and trust in the network 4.3 Future of human capital 4.4 Artificial Intelligence
5. STRATEGIC BEHAVIOR IN THE DIGITAL MARKET 5.1 Market entry 5.2 Interaction and Competitiveness 5.3 Opportunities and Challenges
6. CASE STUDIES
Demonstration of the syllabus coherence with the curricular unit's learning objectives
- The first objective is addressed in chapter 1 of the program, which identifies the organization imperfect competition markets, considering the paradigms evolution of the new industrial economy. - The second objective is developed in the 2nd chapter, which characterizes the most important aspects of the preparation for the fourth industrial revolution, based on the previous revolutions. - The third objective is reached in the 3rd chapter of the program that focuses on the technological drivers of industrial transformation. - The fourth objective is addressed in chapter 4, which highlights the importance of resource and information management and use, based on new computing technologies. - Finally, the fifth objective is developed in the 5th and 6th chapters, which shows the need for constant adaptation of the strategic behavior of companies, reflecting on some practical cases.
Main literature
Cabral, Luis M. B.;Introduction to Industrial Organization second edition, The MIT Press, 2017. ISBN: 978-0262035941
Harald Øverby , Jan Arild Audestad;Introduction to Digital Economics - Foundations, Business Models and Case Studies, Springer Cham, 2021. ISBN: 978-3-030-78236-8
The contents will be exposed mainly in theoretical-practical classes, which combine the theoretical exposition with the discussion of practical cases supported in the visualization of multimedia contents and, occasionally, the participation of invited speakers. For this purpose, means of computer support, namely Microsoft PowerPoint software, will be used to present the programmatic contents.
Assessment Components
Avaliação distribuída com exame final
Assessment Components
Description
Type
Time (hours)
Conclusion Date
Attendance (estimated)
Lessons
45
Teste/Exame
3
Participação Presencial
6
Study
103
Participação Presencial
3
Total:
160
Continuous Assessment
- Two individual written tests with a weighting of 30% each. - Conducting a written group work on a digital transformation plan, to be submitted on the e-learning platform (40% weighting).
Participation in data collection in Serralves represents 10% of the final grade and will be considered in the second evaluation stage.
According to the General Regulation:
a) The effective presence of students in classes will be registered and, if the number of absences per student exceeds 30% of the total number of contact sessions foreseen for each curricular unit, it will be automatically transferred to the final evaluation of the normal period. b) In the written tests and in the evaluation elements, it is necessary to obtain a minimum grade of 7.5 (seven point five) values. c) If the student fails or obtains a classification lower than 7.5 in the tests or in the assessment elements referred to in the previous number, he will be automatically transferred to the final assessment of the normal season. d) If the student fails or obtains a classification lower than 7.5 in the second written test (held on the same date as the final written test of the regular period) he may request registration for evaluation at the time of appeal. e) All written academic works foreseen in the evaluation (reports, case studies, etc.) must be submitted in the Turnitin database, available on ISAG's E-Learning platform, with a similarity rate of up to 30% being acceptable.
Final Exam
The Final Assessment will consist of an individual written test: 100%.
Demonstration of the coherence between the teaching methodologies and the learning outcomes
The first objective presupposes the use of the Microsoft PowerPoint program to present theoretical contents. The other objectives combine the theoretical presentation of slides from the same software, with the visualization of multimedia contents and discussion of practical cases applied to the industrial sector, also aiming the preparation of the scientific posters to present in the classroom.