Percorrer por autor "Kothari, Digvijay Singh"
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- Entrepreneurship in industry 5.0: why it is important for businesses to evolve?Publication . Kothari, Digvijay Singh; Martins, Oliva M.D.This dissertation explores the transformative potential of Industry 5.0 for Small and Medium-sized Enterprises (SME) and the associated challenges and benefits. Through a systematic literature review, surveys, and case studies, it provides a comprehensive analysis of the adoption and implementation of Industry 5.0 principles in SME. The findings reveal that Industry 5.0 presents a significant opportunity for SME to enhance their business performance and contribute positively to society. Despite challenges such as limited resources, lack of expertise, and resistance to change, the adoption of Industry 5.0 is crucial for SME to remain competitive and resilient in the rapidly evolving business landscape. The study highlights the importance of human-centric production, adaptability, flexibility, interpersonal relationships, emerging technologies, and sustainable growth in the context of Industry 5.0. It suggests strategies for SME to overcome the adoption challenges, including exploring partnerships and collaborations, investing in employee training, and effectively managing resistance to change. Survey results reinforce the positive view towards Industry 5.0 and Respondents appreciate the specific benefits it offers, such as customization, efficiency, enhanced customer experience, cost savings, and competitive edge. While the case studies of three distinct companies illustrate the practical application and benefits of Industry 5.0 principles in diverse business contexts. The study concludes that the adoption of Industry 5.0 is a strategic imperative for SME. While the journey towards Industry 5.0 presents challenges, the potential rewards in terms of efficiency, sustainability, and overall business performance make it a worthwhile endeavor. The dissertation concludes with recommendations for future research, suggesting the exploration of Industry 5.0 adoption in larger organizations or different industry sectors, inclusion of a wider variety of case studies, and conducting longitudinal studies tracking the adoption and impact of Industry 5.0 over time. These could provide valuable insights into the long-term benefits and challenges associated with this paradigm shift.