Coping With the Changes That Challenge Business and Education Sectors in Thailand 4.0

Coping With the Changes That Challenge Business and Education Sectors in Thailand 4.0

Kannapat Kankaew (College of Hospitality Industry Management, Suan Sunandha Rajabhat University, Thailand), Ekachat Tansiri (Faculty of Liberal Arts and Science, Kasetsart University, Kamphaeng Saen, Thailand), Rojanard Waramontri (College of Hospitality Industry Management, Suan Sunandha Rajabhat University, Thailand), Nisara Paethrangsi (College of Hospitality Industry Management, Suan Sunandha Rajabhat University, Thailand), Korawin Kungwol (College of Hospitality Industry Management, Suan Sunandha Rajabhat University, Thailand), Bussaba Sitikarn (Mae Fah Luang University, Thailand) and Kanittha Charernit (College of Hospitality Industry Management, Suan Sunandha Rajabhat University, Thailand)
Copyright: © 2022 |Pages: 11
DOI: 10.4018/IJABIM.287588
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Abstract

This paper explores the ideas, and cases based on research that emanate from the application of the contingency theory, resource-based views theory, and the institutional theory to cope with an abruptly changing paradigm. The paper attempts to provide a holistic view of the IR 4.0 impact on the business changes and the usage of technology in the education sector among Thais. This paper stresses the role of the educational sector by creating a shift from static into dynamic triggered by the intense competition in the Thailand markets. Keeping in view such a scenario organization should be pliable and enabled enough to transform existing resources into intellectual resources. This would result in the revitalization of the entire organizational human capital from leaders to teams, and individuals contributing to morally support employee well-being and this would strengthen the reaping extraordinary organization results in terms of output. All this is seen through the lens of IR 4.0 as applied to the current Thai business and education scenario.
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Introduction

The fourth industrial revolution, has come into existence in the past half a decade. It has been designated as Industry 4.0. The emphasis of industry 4.0 technologies is on the transformation in the means of using machines and obtaining information and analyzing data. The objective has been to foster high-end production and promote faster and better goods manufacturing at considerably lower cost. The industrial revolution 4.0 is poised to benefit the economy through the growth of industries and the changed paradigm of changed working in various fields as also the emergence of numerous challenges. A Deloitte survey has reported a 70% spike in profit of businesses due to the implementation of the industry 4.0. As early as 2017 a survey had been conducted by Dhurakij Pundit University, showed that 59.66%. Thais knew nothing of what was being popularized by the Thai government as ‘Thailand 4.0’. The government is hosting the ‘Thailand 4.0’ agenda as an economic model based according to (Bussi & Khatiwada, 2017), on:

  • (i)

    Creativity

  • (ii)

    Innovation

  • (iii)

    New technology

  • (iv)

    High-quality services

Thailand 4.0 is focusing on development through agriculture enhancing having been farmer oriented to favour mechanization and increased agricultural yield. It will also focus on light industry and utilize cheap labour for turning raw materials into finished goods like textiles and garments through production and manufacturing. The third component is advanced industry which is derived from the assembly and production of computer disk drives, electrical components, compressors, and automobiles for export (Rojniruttikul & Rodchom, 2014). The mission of Thailand 4.0 is focused on making Thailand’s labor force into ‘knowledge workers’ (Thailand Investment Review, 2017; Thailand’s 20-Year National Strategy and Thailand 4.0 Policy, 2016).

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Historical Perspective On Industrial Revolutions

According to Alaloul et al (2020), “Ever since the industrialization era began in the 1700s, each industrial revolution carried its own signiðcant role in the advancement of today’s development.

  • (i)

    In 1700s, mechanical looms were ðrst introduced which were driven by the power of water and steam on mechanical equipment and replaced the agricultural sectors, further enhancing the economic structure.

  • (ii)

    The Second Indus-trial Revolution occurred in 1870s, where electrical energy was introduced which formed a major system known as mass production. These revolutions relied on the number of human capabilities to achieve more.

  • (iii)

    The Third Industrial Revolution in 1970s occurred with the rise of electronics. The innovation of technology from analogue electronic and mechanical devices to today’s digital technology available is referred to as Digital Revolution.

  • (iv)

    The Fourth Industrial Revolution (IR 4.0) is built upon the Digital Revolution where technology”.

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Salient Features Of Ir 4.0

The fourth phase of the industrial revolution, is based on the ongoing modification and upgradation of the conventional manufacturing and industrial practices obtaining buoyancy with the present-day smart technology. The industry 4.0 services, therefore, predominantly emphasize the extensive implementation of Machine-to-Machine communication, (M2M) and the Internet of Things or the IoT. Thus, IR 0.4 has focused on escalated automation, revamped communication, and self-monitoring through smart and intelligent machines or devices that can enable an efficient diagnosis of most industrial problems little or with no need for human presence to any great extent.

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