Nowadays, it is observed that international economic competition has gradually increased in the field of international finance. Along with the increase in competition, technological innovations and inventions have also increased. In line with these technological improvements, industrial structures have undergone changes, and it is established that national industries should change accordingly. The change and transformation process due to these technological improvements is described as the fourth industrial revolution or industry 4.0. This term consists of three compounds, which are Cyber-Physical System, Internet of Things, and Internet of Services. It encompasses product improvements, production processes, improving postproduction service processes and their communication with each other, information exchange between machinery and products, autonomous control and optimization, and physical processes in factories with modular structures. The systematic of Industry 4.0 also includes the communication of things with each other as well as their communication with human beings. The aim of this study is to raise awareness of business administrators and employees, academic personnel and university students, and all public administrators and workers in our country concerning this topic. Therefore, we aim to describe the term “Industry 4.0” in order for this concept to be embraced by the aforementioned groups, to ascertain that the global market share of our country increases quickly through the businesses that have embraced this concept. We also intend to inform other businesses that have yet to embrace this great change, so that they would embrace this great change as soon as possible. In this regard, by means of - secondary data analysis concerning the concept of Industry 4.0, the study aims to raise awareness of Turkish businesses and to ascertain that Turkish businesses do not miss this opportunity of technological improvement, transformation and restructuring. Therefore, the study describes the basic concepts and scope of Industry 4.0, along with analyzing different restructuring theories in business administrations.
Industry 4.0, Cyber-Physical Systems, Internet of Things, Internet of Services