Readiness for Digital Innovation and Industry 4.0 Transformation: Studies on Manufacturing Industries in the City of Salisbury

Xing, Ke; Cropley, David H.; Oppert, Michelle L.; Singh, Chanvi

doi:10.1007/978-981-15-7658-4_8

Cited by 14 publications

(6 citation statements)

References 10 publications

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“…Industry 5.0 is another interesting and emerging phenomenon being defined as the extent to which a firm attempts to create a smart factor by incorporating distinct smart capabilities to enhance efficiency and performance (Maddikunta et al, 2022). Smart capabilities may include big-data, Internet of Things, simulations, cloud computing, cyber-security, and additive manufacturing (Chauhan et al, 2021; Culot et al, 2020; Xing et al, 2021; Yadav et al, 2020). Implementing i5.0 technologies may improve the manufacturing operations of the organizations.…”

Section: Theoretical Support and Hypotheses Formationmentioning

confidence: 99%

“…Industry 5.0 is another emerging phenomenon therefore researchers are trying to gage insights of i5.0 within certain domains (Carayannis & Morawska-Jancelewicz, 2022;Javaid et al, 2020;Maddikunta et al, 2022). The concept of i5.0 is defined as the smart factory by utilizing certain related capabilities to improve the organizational efficiency in comparison to i4.0 enable technologies such as IoT, big data, cyber-security, simulation, additive manufacturing, and cloud computing (Chauhan et al, 2021;Culot et al, 2020;Xing et al, 2021;Yadav et al, 2020). A few recent studies specifically explored the importance of i5.0 technologies but other than consideration as a moderator globally (Gürdür Broo et al, 2022;Carayannis & Morawska-Jancelewicz, 2022;Javaid et al, 2020;Maddikunta et al, 2022;Show et al, 2021).…”

Section: Introductionmentioning

confidence: 99%

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Role of Industry 5.0 in leveraging the Business Performance: Investigating Impact of Shared-Economy on Firms’ Performance with Intervening Role of i5.0 Technologies

et al. 2022

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Industry 5.0 is regarded as the next industrial evolution which is still on its infancy stage and under investigation phenomena. How shared economy can perform a superlative role in augmenting the corporate sustainable performance is another interesting gap that needs to be unveiled. This study investigates the linkage between shared economy practices and corporate triple bottom line (TBL) in three core streams—environmental performance (ENVP), social performance (SP), and economic performance (EP)—using empirical data. An additional factor of industry 5.0 (i5.0) technologies was treated as a moderator between shared economy and TBL. The findings assured the positive nexus of shared economy (i.e., contract manufacturing services, professional services, data entry & clerical services, creative and multimedia services, sales and marketing services, software development services, and writing or translation services) on TBL (i.e., ENVP, SP, and EP). The positive moderating influence of i5.0 technologies was further affirmed between the relationships of shared economy and TBL. The findings yield multidimensional insights for operational management to adopt shared economy and i5.0 practices to improve corporate TBL in today’s competitive era. In addition, this study accentuates the notion of shared economy by providing positive evidence from developing nations. The study also highlights insightful implications for managers along with future avenues for the researchers to conduct additional multi-directional studies worldwide.

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Section: Theoretical Support and Hypotheses Formationmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Role of Industry 5.0 in leveraging the Business Performance: Investigating Impact of Shared-Economy on Firms’ Performance with Intervening Role of i5.0 Technologies

et al. 2022

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“…These supported previous studies discussing the challenges of digital entrepreneurship. For instance, Xing et al (2021) presented the barriers and challenges faced by MSMEs in adopting digital innovation which include business, technology, skills, supply chain, and innovation. Other studies identified the challenges for digital entrepreneurship including a firm's organizational structure, IT infrastructure, market changes, unprecedented risks, and uncertainties in technology and new business models (e.g., Facebook or Google) in terms of country-specific regulations (Kraus et al 2018;Qian Qiu and Mok Kim Man 2021;Gavrila Gavrila and De Lucas Ancillo 2021).…”

Section: Drivers and Barriers To Digital Innovations In Msmesmentioning

confidence: 99%

Digital Innovations in MSMEs during Economic Disruptions: Experiences and Challenges of Young Entrepreneurs

Cueto¹,

Frisnedi²,

Collera

et al. 2022

Administrative Sciences

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The spike in COVID-19 cases all over the world poses a massive impact on various sectors of society. The global economy is no exception, for it has been severely affected by the unprecedented public health crisis leading businesspeople to shutdown commercial establishments and dramatically shifting businesses into digital platforms. Immense challenges brought by the pandemic have turned into great opportunities among entrepreneurs from different parts of the globe. In pursuit of the recovery path, they considered digital tools to be instrumental to surviving the crisis and even thriving in the long term. This study explores drivers and barriers to digital innovations in micro, small, and medium enterprises (MSMEs) during economic disruptions from the perspective of Filipino young entrepreneurs. Researchers employed a qualitative method for the conduct of in-depth interviews with 46 online entrepreneurs in the Philippines and transcribed them for Inductive Content Analysis to generate themes. Results found the adverse effects of the pandemic, which reinforce entrepreneurial innovations of shifting businesses to digital platforms, categorized into intrinsic (e.g., personal and professional growth) and extrinsic (e.g., mobility restrictions, market conditions, and household economic status) motivations. Participants described the barriers to digital entrepreneurship, including skills needed for doing online business, market-related problems in digital platforms, availability of quality internet infrastructures, and the pandemic restrictions. The findings of this study contribute to the entrepreneurship literature and areas for an empirical investigation to develop programs that support entrepreneurs during economic disruptions. This would serve as a guidepost in the formulation of government policies and strategies for economic recovery through digital entrepreneurship while considering the perspectives of young entrepreneurs. This further recommends future related researches to empower entrepreneurs, particularly those in the developing economies during the pandemic and beyond.

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“…Industry 4.0 refers to a movement in which traditional manufacturing and industrial factories are combined with digital technology. The major goal of Industry 4.0, often known as “the fourth industrial revolution,” is to automate manufacturing processes to the point where all activities are automated and controlled in real-time ( Xing et al, 2021 ). One of the key technologies of Industry 4.0 is IoT.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Significance of digital technology in manufacturing sectors: Examination of key factors during Covid-19

Mohapatra

Tripathy

Singhal

et al. 2022

Research in Transportation Economics

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Readiness for Digital Innovation and Industry 4.0 Transformation: Studies on Manufacturing Industries in the City of Salisbury

Cited by 14 publications

References 10 publications

Role of Industry 5.0 in leveraging the Business Performance: Investigating Impact of Shared-Economy on Firms’ Performance with Intervening Role of i5.0 Technologies

Role of Industry 5.0 in leveraging the Business Performance: Investigating Impact of Shared-Economy on Firms’ Performance with Intervening Role of i5.0 Technologies

Digital Innovations in MSMEs during Economic Disruptions: Experiences and Challenges of Young Entrepreneurs

Significance of digital technology in manufacturing sectors: Examination of key factors during Covid-19

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