Factors affecting SME executives’ intentions to adopt smart factories: The case of Korea

Abstract

In order to enhance the competitiveness of the manufacturing industry in the face of the great turning point of the 4th Industrial Revolution, governments around the world are making great efforts to spread smart factories to small and medium enterprises (SMEs). The purpose of this study was to explore the factors that influence SME executives’ intentions to adopt a smart factory. To this end, a research model was developed based on the technology acceptance model (TAM), the technology-organization-environment (TOE) framework, and resource dependence theory (RDT). Data from 175 valid questionnaires were collected from SME executives in Korea and analyzed using structural equation modeling. The results of the analysis indicated that perceived usefulness did not influence SME executives’ intentions to adopt a smart factory. However, the perceived importance extracted from the RDT had a strong impact on SME executives’ intention to adopt a smart factory. As a result of the study, we identified practical implications for SMEs’ adoption of smart factories.