scholarly journals Readiness of the ASEAN Community for the 4th Industrial Revolution

2021 ◽  
Vol 17 (2) ◽  
pp. 31
Author(s):  
Pornpen Vora-Sittha ◽  
Apirada Chinprateep
Keyword(s):  
Industrial Revolution ◽  
Small And Medium Enterprises ◽  
Digital Economy ◽  
Industrial Plants ◽  
Fourth Industrial Revolution ◽  
Stakeholder Perspectives ◽  
Policy Suggestions ◽  
The World ◽  
Medium Enterprises

The study explores the readiness of ASEAN Community for the world Fourth Industrial Revolution, and to propose policy suggestions for stakeholder perspectives. The methodology used is SWOT and TOWS analysis. The results of the study show that only Singapore is the readiest country to face 4IR. Rest of ASEAN members moderately prepared for the world 4IR, except Brunei, Cambodia, Laos, and Myanmar. The size of the ASEAN digital economy has the opportunity to be ranked as the world's top five in 2025, drive-by e-commerce, large industrial plants with the participation of small and medium enterprises. Singapore may face employment disruption before other countries because of its most advanced in using AI technology.

scholarly journals The analysis of the digital transformation trends in the Ukrainian economy

VUZF Review ◽  
2021 ◽  
Vol 6 (4) ◽  
pp. 136-144
Author(s):  
Hanna Snopenko ◽  
Olga Balueva ◽  
Olena Tanchyk
Keyword(s):  
Development Strategy ◽  
Business Models ◽  
Business Processes ◽  
Industrial Revolution ◽  
Digital Economy ◽  
Digital Transformation ◽  
New Production ◽  
Fourth Industrial Revolution ◽  
Digital World ◽  
The World

The consistent evolution of technology around the world creates new production tools and opportunities for different economic agents. As a result, new economic structures are emerging as a result of industrial revolutions. Today, the digital economy is seen as the backbone of the fourth industrial revolution, as there is a clear shift in the underlying technology and signs of a technological and economic paradigm shift. The current stage of the industrial revolution is associated with the Internet communication technologies development, which has significantly changed the technology of business processes and has been called "digitalisation". Thus, the fourth industrial revolution and the third wave of globalisation are based on the digital economy. The article explores trends in the development of the Ukrainian economy under the influence of ubiquitous digitalisation. Digital transformation changes traditional business models of organisations, allowing them to occupy profitable niches in global markets, raising the prestige of business and the state as a whole. In today's environment, the level of digitalisation illustrates the degree of companies' competitiveness and is a determining factor in development strategy. To analyse the processes of digitalisation and determine the place of Ukraine in the digital world, the article identifies and describes four zones of digital transformation, which are particular to the world economies. It is determined that Ukraine has fallen into a zone of prospective economies, where digital infrastructure is limited. Still, digital development is accelerating, indicating the potential for digitalisation to flourish, which will benefit economic recovery from the COVID-19 pandemic and long-term transformation. Ukraine's integral digital transformation index score is placed at 2.81 out of a possible 5 in 2021. It was determined that the main barriers to the digital transformation development in Ukrainian business include ineffective legislation, insufficient funding and low digital literacy of the population. However, the highest score among the index components was given to companies' overall level of digital transformation. A positive result of the survey is confirmation of increased investment in the digital technologies development in Ukraine: priority investments in this area include customer interaction, data analytics and HR management.

scholarly journals Future Tradeoff under Fourth Industrial Revolution in Bangladesh: A Study on RMG Sector

2021 ◽  
Vol 8 (1) ◽  
pp. 198-215
Author(s):  
Maruf Hasan Rumi ◽  
Shukti Bala ◽  
A.M.M. Mubassher Shah ◽  
Md Abu Sayem ◽  
Md. Minhajul Abedin
Keyword(s):  
Industrial Revolution ◽  
Small And Medium Enterprises ◽  
Export Earning ◽  
Inclusive Development ◽  
Trade Policies ◽  
Fourth Industrial Revolution ◽  
Development Goals ◽  
The Government ◽  
Medium Enterprises ◽  
Trade Market

Bangladesh's government has taken the 7th Five Year plan to implement Sustainable Development Goals (SDGs) by promoting favorable trade policies along with industrialization, digitization, and inclusive development. Hence, well-running trade is considered as the promising indicator to achieve SDGs which is growing exponentially in our country. Here, the Readymade Garment (RMG) is the most influential trading sector to contribute enormously in the export-earning. In recent times, the sector is facing massive changes due to the automation of the Fourth Industrial Revolution (FIR). To sustain in this digital competitive trade market, has become a major challenge for the small RMG industries. A huge number of Small and Medium Enterprises (SMEs) in our country have already been shut down due to automation. The large factories are also changing their manufacturing system by installing automation to cope with the demand for global competition. These are creating an unstable condition for RMG trade. The government needs to take a strategic and integrated plan immediately to gain the competitive advantage of FIR. Otherwise, Bangladesh will lose the international market for the RMGs of the country.      

Fintech Credit — Opportunities for SMEs in Vietnam

2018 ◽  
Vol 9 (6) ◽  
pp. 537-542
Author(s):  
Truong Van Khanh ◽  
◽  
Tram Bich Loc ◽  
Keyword(s):  
Industry 4.0 ◽  
Industrial Revolution ◽  
Small And Medium Enterprises ◽  
Business Environment ◽  
Bank Capital ◽  
Fourth Industrial Revolution ◽  
New Type ◽  
Medium Enterprises

Small and medium enterprises (SMEs) have an important role in the development of countries, especially in developing ones like Vietnam, but access to capital of this type of business is always difficult, while the support of the Vietnamese government has not been effective or negligible. However, the fourth industrial revolution (industry 4.0) have created a new type of business — Fintech companies which provide SMEs an easier way to access capital. Nevertheless, the concept of Fintech is relatively new in Vietnam and the operation of these companies implicit certain risks. Therefore, in order to help SMEs take advantage of this non-bank capital resource, the authorities are asked to promulgate laws or decrees for business environment of Fintech companies.

scholarly journals A Framework for Assessing Manufacturing SMEs Industry 4.0 Maturity

2021 ◽  
Vol 11 (13) ◽  
pp. 6127
Author(s):  
Afonso Amaral ◽  
Paulo Peças
Keyword(s):  
Industry 4.0 ◽  
Industrial Revolution ◽  
Small And Medium Enterprises ◽  
Maturity Model ◽  
Holistic Model ◽  
Maturity Models ◽  
Fourth Industrial Revolution ◽  
Medium Enterprises

Under the scenario of the fourth industrial revolution, the adoption of Industry 4.0 in the day-to-day business of small and medium enterprises (SME) entails expected challenges. Focusing primarily on more advanced levels of maturity, the existing maturity models are inadequate for assessing companies with low maturity levels, such as most of existing SMEs. A framework for a maturity model tailored to SMEs is proposed in this paper, allowing for a comprehensive and high granularity assessment of these companies’ maturity levels, which then eases their integration into this industrial revolution. The proposed holistic model considers all Industry 4.0 dimensions while being detailed enough in its initial levels to properly assess SMEs at the same time.

Strategizing SME Performance in the 4th Industrial Revolution Era

2021 ◽  
pp. 376-394
Author(s):  
Sheerad Sahid
Keyword(s):  
Industrial Revolution ◽  
Small And Medium Enterprises ◽  
National Income ◽  
Competitive Environment ◽  
Business Growth ◽  
Historical Aspect ◽  
Entrepreneurial Marketing ◽  
The World ◽  
And Performance ◽  
Medium Enterprises

Small and Medium Enterprises (SMEs) have played an important role in fostering growth, employment and national income around the world. However, despite the significant role and contribution to the economy, SMEs faced some constraints and challenges that directly affect their business growth and performance. Literature in SMEs showed that SMEs failure rate increased up to 70 percent after five years of operation, and among the main reasons for this situation is the marketing problems faced by SMEs. Marketing plays as the backbone for SMEs survival in today's competitive environment, especially in the 4th Industrial Revolution Era. The chapter focuses on the historical aspect of entrepreneurial marketing (EM) and how EM enhance the SME's capabilities through the adaptation of EM strategic approaches.

scholarly journals Emerging Roles of Small and Medium Enterprises in the Fourth Industrial Revolution in Africa

2021 ◽  
Vol 12 (6) ◽  
pp. 151
Author(s):  
Waliu M. Adegbite ◽  
Cookie M. Govender
Keyword(s):  
Informal Sector ◽  
Low Income ◽  
Small Businesses ◽  
Industrial Revolution ◽  
Small And Medium Enterprises ◽  
Disruptive Innovation ◽  
Low Income Countries ◽  
Digital Revolution ◽  
Fourth Industrial Revolution ◽  
Medium Enterprises

The Fourth Industrial Revolution (4IR) is more than just technology-driven change, disruptive innovation impacts core industries, including the informal sector. Expectedly, the revolution will raise the level of innovation and creativity of the manufacturing SMEs through the Industrial Internet of Things (IIoT). Unfortunately, fewer studies attempted to examine the knowledge level of SME’s adoption of 4IR technologies, and their benefits to the sector in low-income countries, especially in Africa. This research paper takes a closer look at the expected roles of SMEs. It examines the emerging roles of SMEs in the 4IR towards sectoral growth and intending transformation of the informal sector in Africa. Twenty-nine studies dealing with this range of topics are examined in the framework of a systematic review. Although the reviews showed that the level of awareness on the benefits of adopting 4IR technologies in manufacturing SMEs is increasing, research has not highlighted the specific roles expected of SMEs in the digital revolution, especially in low-income countries like Africa. The study identified from the literature that if SMEs are fully transited into industry 4.0, small businesses in Africa will mobilise future jobs, create a new business model, and promote the internationalization of SME products, among others. The study proposed a framework to facilitate the role of SMEs in the 4IR. A unique regional approach towards governance and cooperation focusing on 4IR to grow the activities of the SMEs for regional development may be necessary for Africa.    Received: 27 June 2021 / Accepted: 26 September 2021 / Published: 5 November 2021

Desserts With Oasis—SkillGap Analysis Into Dubai’s Labour Intensive Market

2019 ◽  
Vol 118 (11) ◽  
pp. 533-541
Author(s):  
Dr. Premila Koppalakrishnan
Keyword(s):  
General Population ◽  
Industrial Revolution ◽  
Digital Transformation ◽  
Digital Revolution ◽  
Scholarly Community ◽  
Fourth Industrial Revolution ◽  
The World ◽  
Basic Level ◽  
The Revolution

The world stands on the precarious edge of an innovative transformation that will on a very basic level modify the manner in which we live, work, and identify with each other. In its scale, degree, and unpredictability, the change will be not normal for anything mankind has encountered previously. We don't yet know exactly how it will unfurl, however one thing is clear: the reaction to it should be incorporated and exhaustive, including all partners of the worldwide nation, from the general population and private segments to the scholarly community and common society. It is The Fourth Industrial Revolution, the digital revolution. The digital revolution has opened way for many impacts. All of the emirates are experiencing the effects of the “Fourth Industrial Revolution.” This revolution reflects the velocity, scope, and systems impact of a digital transformation that is changing economies, jobs, and work as it is currently known. Characteristics of the revolution include a fusion of technologies across the physical, digital, and biological spheres.

scholarly journals SCIENTIFIC AND TECHNOLOGICAL DEVELOPMENT AS A FACTOR OF ACCELERATING ECONOMIC GROWTH IN RUSSIA

2021 ◽  
Vol 230 (4) ◽  
pp. 237-244
Author(s):  
E.B. LENCHUK ◽  
Keyword(s):  
Economic Growth ◽  
World Economy ◽  
Large Scale ◽  
Industrial Revolution ◽  
Technological Development ◽  
Technological Basis ◽  
Fourth Industrial Revolution ◽  
The World ◽  
Sustainable Economic Growth ◽  
Scientific And Technological Development

The article deals with the modern processes of changing the technological basis of the world economy on the basis of large-scale transition to the use of technologies of the fourth industrial revolution, shaping new markets and opens up prospects for sustainable economic growth. It is in the scientific and technological sphere that the competition between countries is shifting. Russia remains nearly invisible player in this field. The author tried to consider the main reasons for such a lag and identify a set of measures of state scientific and technological policy that can give the necessary impetus to the scientific and technological development of Russia.

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