Abstract
Technology adoption is always a difficult task for Small and Medium-sized Enterprises (SMEs) due to lack of resources and other market issues. Many technology challenges adversely affect the sustainable business performance of SMEs. However, the incorporation of Industry 4.0 can overcome various technology issues. The goal of Industry 4.0 is to attain an advanced level of operational effectiveness and productivity, as well as a higher level of automatization. Thus, the objective of this study is to identify the role of Industry 4.0 to promote sustainable business performance in SMEs in Thailand. A survey has been prepared to collect the data from managers of SMEs and analyzed with the help of Partial Least Square. The questionnaire was used to collect the data and questionnaires were distributed by using simple random sampling. A total of 500 questionnaires were distributed amongst the managerial staff of SMEs located in Thailand. From these distributed questionnaires, 280 were returned and 270 valid responses were found. Data were analyzed by using Partial Least Square (PLS)-Structural Equation Modeling (SEM). Findings reveal that Industry 4.0 is a key to the growth of sustainable business performance among SMEs. Elements of Industry 4.0 such as big data, Internet of Things and smart factory have a positive role in promoting information technology (IT) implementation, which contributes to sustainable business performance. Moreover, organization structure and process strengthen the positive relationship between Industry 4.0 and IT implementation.
Highlights
The objective of Industry 4.0 is to attain an advanced level of operational effectiveness and productivity, as well as a higher level of automatization (Ślusarczyk 2018; Thames and Schaefer 2016).As Industry 4.0 has a significant role in the production and service sectors, it has a direct relationship with performance (Imran et al 2018; Rüßmann et al 2015; Shrouf et al 2014; Waschneck et al 2016).Roblek et al (2016) and Posada et al (2015) have mentioned that various features of Industry 4.0 are highly connected with internet technologies as well as progressive algorithms
The objective of this study is to identify the role of Industry 4.0 to promote sustainable business
The objective of this study is to identify the role of Industry 4.0 to promote sustainable business performance in Thailand’s Small and Medium-sized Enterprises (SMEs) as theinsufficient
Summary
The objective of Industry 4.0 is to attain an advanced level of operational effectiveness and productivity, as well as a higher level of automatization (Ślusarczyk 2018; Thames and Schaefer 2016). Roblek et al (2016) and Posada et al (2015) have mentioned that various features of Industry 4.0 are highly connected with internet technologies as well as progressive algorithms. They specify that Industry 4.0 is one of the technical procedures of value addition and effective knowledge management practices.
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
