THE CHALLENGES IN IMPLEMENTING FOURTH INDUSTRIAL REVOLUTION TECHNOLOGIES IN THE MANAGEMENT OF SMALL AND MEDIUM SIZE ENTERPRISES
TL;DR
The results indicate that the main challenges to 4IR technology adoption include an absence of pertinent skills, insufficient training opportunities, high technology costs, and negative perceptions among industry professionals, such as concerns about job displacement.
Abstract
The implementation of Fourth Industrial Revolution (4IR) technologies in the management of Small and Medium-Sized Enterprises (SMEs) is associated with numerous challenges. In line with this development, the importance of 4IR technologies in improving SME management to enhance productivity and efficiency has grown considerably. However, the integration of these technologies into SME management faces numerous challenges. This research explores the challenges hindering the adoption of 4IR technologies in the management of SMEs in South Africa. The study utilizes a systematic review of existing literature, gathers data through a questionnaire-based survey, and conducts both descriptive and inferential analyses to interpret the findings. The results indicate that the main challenges to 4IR technology adoption include an absence of pertinent skills, insufficient training opportunities, high technology costs, and negative perceptions among industry professionals, such as concerns about job displacement. These findings are significant for SME owners and managers, offering insights to help them make informed decisions, raise awareness, and promote the integration of 4IR technologies into their business operations.