An Exploratory Study and Impact of Digitalisation on Malaysian SMEs

Abstract

Industry 4.0 (I4.0) 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 production and value creation process are radical and pose a real challenge to organisation. Small and medium businesses need to develop strategies in good time to exploit the new possibilities of digitisation, to improve established processes and develop new business models. Small and medium enterprises are constantly forming and fighting with the obstacles that market leaders face. As a result, new challenges must be discovered, and the existing worldwide pandemic must be addressed as soon as possible. It has been recognised that not only current organisational structures will not be suitable but the vision from top management, and as a result, digital transformation in industries and leadership has evolved. Through the eyes of tomorrow's leaders, we examined the idea of digitisation and its influence on Malaysian SMEs in this study. The study also suggested that adjustments are required to be made, such as more robust in IT strategic, developing innovative and creative solution, and improving IT infrastructure.