Challenges of Small and Medium Enterprises to Meet the Requirements of Industrial Revolution 4.0 in Vietnam

Main Article Content

Nguyen Trong Nghia

Abstract

Industry 4.0 is a term for the digital revolution in industrial production emerging from the comprehensive networking and computerisation of all areas of production. The changes arising from the digital revolution in the pro-duction and value creation process are radical and pose a real challenge to enterprises. In order not to be left behind companies need to develop strategies in good time to ex-ploit the new possibilities of digitalisation, to improve estab-lished processes and develop new business models. The increasing involvement of Vietnam in international organizations and forums requires each enterprise to have appropriate strategies to adapt to the new business environment to meet the requirements of the Industrial Revolution. 4.0. Small and medium enterprises are now the majority of enterprises, and are an important part of the production of gross domestic product. The constant change and movement of the economy has created many conditions for small and medium enterprises to expand production and business development, while also bringing many difficulties and challenges. Therefore, the author examines the challenges that small and medium enterprises meet the Industrial Revolution 4.0 to provide a new perspective to help small and medium enterprises overcome difficulties to develop sustainably, contributing to the overall growth of the economy.

Article Details

How to Cite
Nghia, N. (2020). Challenges of Small and Medium Enterprises to Meet the Requirements of Industrial Revolution 4.0 in Vietnam. International Journal of Multidisciplinary in Management and Tourism, 3(2), 1-12. Retrieved from https://firstojs.com/index.php/jmmt/article/view/425
Section
Articles

References

Hien Anh. (2017). Opportunities and challenges for SMEs during the period of international integration, New Report, October 23, 2016 15:11 GMT + 7.
Lam, P (2018), The number of small and medium enterprises suddenly increased, the General Statistics Office confirmed the 'trend of the trend', the new newspaper.com, January 19, 14:26 GMT + 7
Pham Trong Duc. (2006), Current situation and solutions for developing small and medium enterprises in our country today, Journal of Economics and Forecast No. 6.
Philipps, R. (2018), The Challenges of Industry 4.0 and Small-sized Enterprises, Head of FES’s SME working group and consumer policy discussion group Department of Economic and Social Policy.
Source of Business Registration Administration. (2018). Business registration status in December and 2018, New newspaper.com
Thu Huong (2017), Current situation of Vietnam economy: Over 97% are small and medium enterprises, New newspaper.com, Q12 / 04/17
Tri Kien- An Thao. (2019). Entering 2019, what opportunities and challenges are waiting for Vietnam's economy in general and small and medium enterprises in particular. Business & Integration Magazine
Vuong Duc Hoang Quan. (2014). Challenges set for small and medium enterprises in Vietnam, Science and Technology Development Magazine, Episode, 17(2), 43.