Title: Acceptance and effectiveness of Industry 4.0 internal and external organisational initiatives in Malaysian firms

Authors: Luigi Pio Leonardo Cavaliere; Rameshwaran Byloppilly; Swapna Datta Khan; Bestoon Abdulmaged Othman; Iskandar Muda; Rupa Khanna Malhotra

Addresses: Department of Economics, University of Foggia, Foggia, Italy ' Department of Marketing, City University Ajman, Ajman, United Arab Emirates ' NSHM Business School, NSHM Knowledge Campus, Durgapur Established by NSHM Academy Arrah, Durgapur, Kolkata, 713 212, India ' Department of Insurance Management, College Humanity Sciences, University of Raparin, Ranya, Sulaimani-Kurdistan Region, Iraq; Department of Business Administration, College of Administration and Economics, Nawroz University, Duhok, Iraq ' Universitas Sumatera Utara, Medan, Indonesia ' Department of Commerce, Graphic Era Deemed to Be University, Uttarakhand, India

Abstract: High-diversity processes, including industrial growth and technological advancement, affect work forms, vocations, job profiles, and fintech's role. These effects raise social policy questions. This in-depth literature review summarises the latest findings on how the Industry 4.0 Revolution has affected human and consumer capital development. The Malaysian retail sector is declining. This is because people prefer internet purchasing over brick-and-mortar stores. However, online buying has drawbacks. Younger generations have different shopping expectations due to their digital sophistication. They want a seamless shopping experience across all platforms, including brick-and-mortar stores, online merchants, and bricks-and-clicks (web rooming and showrooming). Technology-driven stores are also popular because they offer a unique and exciting shopping experience. Technology has boosted corporate performance before. Therefore, employing Industry 4.0 technologies in retail should boost productivity. This study will evaluate merchant performance using monetary and non-metric variables. A proposed online poll will collect primary data for this project. For statistical analysis, approximate least squares-structural equation modelling will be used. This study's approach can help the Malaysian retail industry solve its difficulties and improve performance.

Keywords: Industry 4.0; innovation; Retail industry; technological advances; performance; Malaysia; information technology; communication technology; work economy; internal and external organisational strategies.

DOI: 10.1504/IJMED.2024.138422

International Journal of Management and Enterprise Development, 2024 Vol.23 No.1, pp.1 - 25

Received: 24 Aug 2022
Accepted: 10 Aug 2023
Published online: 03 May 2024 *