Role of Young Entrepreneurs in Minimizing Obstacles in the Technology 4.0 Era

DOI

10.2991/aicobpa-18.2019.13How to use a DOI?

Keywords

millennial; obstacle; SMEs; technology era 4.0; young entrepreneurs

Abstract

Industry 4.0’s fourth industrial revolution has greatly influenced the business world, including small entrepreneurs (SMEs). In the millennial era, which is fast, professional and timely, Industry 4.0 did not have a significant impact on improving business results for conventional SMEs. Therefore, young SMEs must understand the obstacles that affect their business objectives and provide the human resources (HR) necessary to meet the Industry 4.0 criteria. This situation has triggered an interesting phenomenon regarding how Young Entrepreneurs (YE) grow their businesses without lagging behind the rapid technological advances. This study focuses on two main issues. First, can young entrepreneurs face the Technology 4.0 Era? Second, through the development of HR, can YE strengthen their preparedness for the Technology 4.0 Era? Therefore, this paper aims to achieve two objective studies: (1) to form a conceptual framework to encourage YE to understand the intent of Industry 4.0 and (2) to recognize the concept of Industry 4.0 and to forge a community of other SMEs to face the Technology 4.0 Era. This study’s literature review shows that the obstacles YE face force them to optimize the latest social media and media technologies to meet the Industry 4.0 challenges. This paper presents the barriers that YE must anticipate in the Technology 4.0 Era, such as the concepts and characteristics of selling, services, and payments that utilize 4.0 technology. The paper’s methodology uses transmedia to frame a marketing strategy. The identified obstacles must be overcome to allow YE to interact with others without being limited to geographical locations. The study’s implications will help increase the awareness of YE regarding the importance of facing the Technology 4.0 Era, helping the program support reliable SMEs, as determined by the Indonesian government.

Copyright

© 2019, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Antonius Setyadi
PY  - 2019/08
DA  - 2019/08
TI  - Role of Young Entrepreneurs in Minimizing Obstacles in the Technology 4.0 Era
BT  - Proceedings of the Annual International Conference of Business and Public Administration (AICoBPA 2018)
PB  - Atlantis Press
SP  - 57
EP  - 61
SN  - 2352-5428
UR  - https://doi.org/10.2991/aicobpa-18.2019.13
DO  - 10.2991/aicobpa-18.2019.13
ID  - Setyadi2019/08
ER  -