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.

https://www.mdpi.com/2076-0760/8/5/154/pdf

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

Understanding Enterprise, Entrepreneurship and Small Business

The study presented in this paper analyzes the factors influencing the growth rate of small and medium-sized enterprises (SMEs) in Algeria and explores the extent to which their success or failure depends on the wider business climate. This study also examines different internal factors that may be responsible for the unstable and limited growth ofSMEs. Our research reveals that the growth of SMEs in Algeria is hampered by several interrelated factors, which include business environmental factors that are beyond the SMEs’ control and internal factors of the SMEs. The external factors include the legal and regulatory framework, access to external financing, and human resources capacities. The internal factors comprise entrepreneurial characteristics, management capacities, marketing skills, and technological capacities.

Establishing the Factors Affecting the Growth of Small and Medium-sized Enterprises in Algeria

Global epidemic crises, such as the coronavirus (COVID-19), usually expose small and medium enterprises (SMEs) to various kinds of challenges and may put their lives at risk. This study aims to develop a theoretical model to provide insights about the association between innovation practices and the SMEs’ performance and survival while underlining the auxiliary role of external support in such a relationship. Online questionnaire has been used to collect the data from 259 randomly selected SME managers in Saudi Arabia, and the data was analyzed using the SmartPLS3 software. The structural equation modeling results showed that the innovation practices adopted by SMEs to face the repercussions of COVID-19 had a positive impact on the performance and likelihood of business survival. PLS-SEM bootstrap results indicated that external support aids strengthen the positive impact of SMEs’ innovation practices on business survival rather than its performance. The study has several significant practical implications for SME managers, governments, and policy makers that have been stated.

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Innovation practices for survival of small and medium enterprises (SMEs) in the COVID-19 times: the role of external support

Many managers and researchers alike are asking: What does an enterprise need to do to generate a proper balance between economic, social, and ecological objectives while gaining superior corporate financial performance, resilience, and sustainability? Several leadership concepts for enhancing organizational sustainability have emerged in recent years, but none provides an integrative approach, with the exception of Sustainable Leadership (SL). However, empirical research examining the effects of various SL practices on financial performance and other business outcomes is lacking. This article addresses this gap by empirically investigating the relationships between 23 SL practices and financial performance. Using a cross-sectional survey, data stem from 439 managers in small and medium-sized enterprises (SMEs) in Thailand. Of the 23 SL practices in SL, 16 were significantly associated with corporate financial performance. Four SL practices, in particular—amicable labor relations, valuing employees, social responsibility, plus strong and shared vision—were significant drivers, and positive predictors, of enhanced long-term firm performance. Lastly, implications, limitations, and future directions are discussed.

https://www.mdpi.com/2071-1050/8/4/327/pdf

Sustainable Leadership Practices Driving Financial Performance: Empirical Evidence from Thai SMEs

This study attempted to identify factors that are affecting business success of small and medium enterprises (SMEs) in Thailand The intention of this study is to provide the understanding on how people should start their business by looking at all the factors affecting business success hence help to reduce the risk of failure and increase chances of success The study examined eight factors that influence the SMEs business success These factors are: SMEs characteristic, management and know-how, products and services, Customer and Market, the way of doing business and cooperation, resources and finance, Strategy, and external environment The theoretical framework has been drawn out and questionnaire was designed based on the factors chosen Eight hypotheses were developed to find out factors that are affecting Business Success of SMEs in Thailand The entire hypotheses were successfully tested with SPSS and five hypotheses were accepted The regression analysis result shown that the most significant factors affecting business success of SMEs in Thailand were SMEs characteristics, customer and market, the way of doing business, resources and finance, and external environment

/pdf/factors-affecting-business-success-of-small-medium-3kpkbtoz9k.pdf

Thiyada Keawchana

Papers

Factors Affecting Business Success of Small & Medium Enterprises (SMEs) in Thailand