Abstract
This paper explores the ideas, and cases based on research that emanate from the application of the contingency theory, resource-based views theory, and the institutional theory to cope with an abruptly changing paradigm. The paper attempts to provide a holistic view of the IR 4.0 impact on the business changes and the usage of technology in the education sector among Thais. This paper stresses the role of the educational sector by creating a shift from static into dynamic triggered by the intense competition in the Thailand markets. Keeping in view such a scenario organization should be pliable and enabled enough to transform existing resources into intellectual resources. This would result in the revitalization of the entire organizational human capital from leaders to teams, and individuals contributing to morally support employee well-being and this would strengthen the reaping extraordinary organization results in terms of output. All this is seen through the lens of IR 4.0 as applied to the current Thai business and education scenario.
Highlights
The fourth industrial revolution, has come into existence in the past half a decade
This paper explores the ideas and cases based on research that emanate from the application of the contingency theory, resource-based views theory, and the institutional theory to cope with an abruptly changing paradigm
The rising trends of digitization, automation and the wider use of Information and Communications Technology (ICT) in the industry contain technologies of cyber-physical systems, Internet of Things (IoT), cloud computing and cognitive computing which have been described as IR 4.0 and are the mandate for the road map of Thailand’s dynamic progress and development
Summary
The fourth industrial revolution, has come into existence in the past half a decade. It has been designated as Industry 4.0. As early as 2017 a survey had been conducted by Dhurakij Pundit University, showed that 59.66%. Thailand 4.0 is focusing on development through agriculture enhancing having been farmer oriented to favour mechanization and increased agricultural yield. It will focus on light industry and utilize cheap labour for turning raw materials into finished goods like textiles and garments through production and manufacturing. The mission of Thailand 4.0 is focused on making Thailand’s labor force into ‘knowledge workers’ (Thailand Investment Review, 2017; Thailand’s 20-Year National Strategy and Thailand 4.0 Policy, 2016)
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