This refers to the degree of pressure felt by competitors within the industry.
Published in Chapter:
Developing a Model for the Adoption of Industrial Revolution 5.0 Among Malaysian Manufacturing SMEs for Sustainable Growth
Arsalan Hussain (Institute of Business Management, Karachi, Pakistan), Hafiz Waqas Ahmed Ansari (Universiti Utara Malaysia, Malaysia), Hafiz Nasir (Universiti Utara Malaysia, Malaysia), and Muhammad Qasim Maqbool (University of Okara, Pakistan)
Copyright: © 2023
|Pages: 18
DOI: 10.4018/978-1-6684-6403-8.ch003
Abstract
Industry 5.0 was introduced in Germany, pursuing the idea of creating smart factories so that emerging technologies such as the internet of things, cloud computing, robotics systems, virtual reality, big data analytics, and additive manufacturing could produce human–equipment interfaces and cyber-physical systems that generate environmental, economic, and socially sustainable manufacturing systems. Therefore, this study effort to evolve a model for the adoption of the 5IR among Malaysian manufacturing SMEs for sustainable growth. This study proposed a research model based on the theory of innovation diffusion (DOI) and TOE. The result of this study can contribute to the realization of the Industry policy. The model itself can provide guidance to industry and policymakers to promote emerging markets growth. The study is expected to benefit regulators and the business ecosystem in understanding the challenges of implementing 5IR in Malaysia and, most importantly, for them to formulate intervention processes and programs for successful adoption.