Next Article in Journal
Sex Trafficking at the Border: An Exploration of Anti-Trafficking Efforts in the Pacific Northwest
Previous Article in Journal
Science and Technology Policy Research in the EU: From Framework Programme to HORIZON 2020
Previous Article in Special Issue
Economic, Social Impacts and Operation of Smart Factories in Industry 4.0 Focusing on Simulation and Artificial Intelligence of Collaborating Robots
Article Menu

Export Article

Open AccessArticle

Industry 4.0: A Solution towards Technology Challenges of Sustainable Business Performance

1
Taylor’s Business School (TBS), Taylor’s University Lakeside Campus, 1, Jalan Taylors, Subang Jaya 47500, Selangor, Malaysia
2
Faculty of Economic and Management Sciences, North-West University, Vaal Triangle Campus, P.O. Box 1174, Vanderbijlpark 1900, South Africa
3
The Management Faculty, Czestochowa University of Technology, al. Armii Krajowej 19 B, 42-201 Czestochowa, Poland
4
Social Research Institute, Chulalongkorn University, Bangkok 10330, Thailand
*
Author to whom correspondence should be addressed.
Soc. Sci. 2019, 8(5), 154; https://doi.org/10.3390/socsci8050154
Received: 26 April 2019 / Revised: 9 May 2019 / Accepted: 10 May 2019 / Published: 16 May 2019
(This article belongs to the Special Issue Industry 4.0 Implication for Economy and Society)
  |  
PDF [3363 KB, uploaded 16 May 2019]
  |  

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. View Full-Text
Keywords: Industry 4.0; big data; business performance; IoT; smart factory; SMEs Industry 4.0; big data; business performance; IoT; smart factory; SMEs
Figures

Figure 1

This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).
SciFeed

Share & Cite This Article

MDPI and ACS Style

Haseeb, M.; Hussain, H.I.; Ślusarczyk, B.; Jermsittiparsert, K. Industry 4.0: A Solution towards Technology Challenges of Sustainable Business Performance. Soc. Sci. 2019, 8, 154.

Show more citation formats Show less citations formats

Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Related Articles

Article Metrics

Article Access Statistics

1

Comments

[Return to top]
Soc. Sci. EISSN 2076-0760 Published by MDPI AG, Basel, Switzerland RSS E-Mail Table of Contents Alert
Back to Top