The Adaptation Of Small And Medium-Sized Enterprises In The Service Sector To The Conditions Of Society 4.0
1Lilia Dvořáková,2Jiří Vacek
1University of West Bohemia, Faculty of Economics, Department of Finance and Accounting
2University of West Bohemia, Faculty of Economics, Department of Business Administration and Management
https://doi.org/10.47191/jefms/v6-i1-44ABSTRACT:
The paper presents the results of the research focused on the small and medium-sized enterprises (SMEs) adaptation in the service sector to the implementation of principles, processes, methods, and tools of Society 4.0. This study primarily aims to demonstrate practices and tools for the adaptation of service sector SMEs to disruptive changes brought about by the principles and technologies of Industry 4.0 and Society 4.0 into company processes and the society as a whole. The presented approach to research and the results should support an effective and efficient adaptation of SMEs to changes in business environment leading to sustainable growth, new competitive advantages, the prevention and elimination or reduction of threats and risks resulting from misunderstanding the necessary transformation of current and future business processes. The proposed methodology of adaptation and the potential of its application by SMEs represent an up-to-date methodical approach supporting their stability and economic growth during the recovery from the COVID-19 pandemic. The research results can be applied and adapted to specific needs and requirements of service sector SMEs not only in the Czech Republic, but also in other countries of Central Europe, namely Slovakia, Poland, and Hungary that have similar legislation for SMEs as well as similar history and trends of SMEs transformation. The presented results can also serve as the motivation and knowledge background for SMEs when identifying and evaluating opportunities and threats in the conditions of Society 4.0.
KEYWORDS:
Industry 4.0, Fourth Industrial Revolution, knowledge-intensive services (KIS), small and medium-sized enterprises (SMEs), Society 4.0.
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