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Notitia - journal for economic, business and social issues, Vol. 11 No. 1, 2025.

Preliminary communication

https://doi.org/10.32676/n.11.1.3

Digital transformation and Industry 4.0 and its impact on SME business

Vesna Novaković orcid id orcid.org/0000-0002-9495-7940 ; Pan-European University Apeiron, Banja Luka
Mirjana Milovanović orcid id orcid.org/0000-0003-3746-5517 ; Banja Luka College, Banja Luka,
Tanja Škorić orcid id orcid.org/0009-0006-2434-5419 ; Pan-European University Apeiron, Banja Luka
Vedran Šupuković ; Pan-European University Apeiron, Banja Luka

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Abstract

This research addresses the following guiding question: Do Industry 4.0 and digital
transformation inherently drive the progress of small and medium-sized enterprises (SMEs)?
Starting from this assumption, the authors proposed a hypothesis suggesting that digital
transformation has a direct impact on improving innovation and operational efficiency within
small and medium-sized enterprises.The focus of this study is the digital transformation and
Industry 4.0 adoption among SMEs in the Republic of Srpska, one of the two entities of Bosnia
and Herzegovina. The study combined desk-based literature analysis with a practical
component that involved organizing panel discussions featuring representatives from all three
pillars of the Triple Helix model: representatives of the academic community, business
companies, and state institutions. The empirical research was organized in the period from
November 2023, to June 2024. Findings from the research indicate that digital transformation
plays a significant role in enhancing business processes and fostering the growth of small and
medium-sized enterprises, while also highlighting the importance of effectively motivating
employees to embrace organizational change. Organizational culture, employees who are
affirmative in acceptance changes allow them to change indeed events. Digital transformation
by itself represents tools that can improve business, but employees are key part of changes.

Keywords

innovation, digital transformation, entrepreneurship, SMEs, sustainability, management

Hrčak ID:

341054

URI

https://hrcak.srce.hr/341054

Publication date:

12.12.2025.

Article data in other languages: croatian

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