The Industry 4.0 Revolution: Scrutinising The Enablers For Young Technopreneurial Firms’ Competitiveness
Table 2:
| No | Enabler Domains | Description | Illustrations (Selected Excerpt) |
| Individual Factor | |||
| Entrepreneurial OrientationDefinition: A construct encompassing three aspects, i.e. innovative, pro-active and taking risk ( Rauch et al., 2009). | Proactive – to generate ideas, to strategize in ensuring continuous demand stream from the market and to meet customers’ needs and demandsInnovativeness - initiates new services/products as well as strategies; thinking out of the box in exploration and exploitation of new products/servicesTake risk- takes strong actions where unfamiliar areas are explored despite the lack/limited experience in business | “As our products are still new in Malaysia, we have to be proactive in looking for ways to maintain the product quality and to serve our customers” (#2) “Owning a business, you have to be proactive all the time, plan forward, explore new ideas. I am active in social media to get ideas for my product” (#7)“In this industry I must be efficient, I always look forward and grab the opportunity without thinking too much of the risks. (#15) |
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| 2 | Entrepreneurial StrategyDefinition:Actions taken that change and shape the business operations, which include the exploration of innovative and creative strategies in anticipation of current and future demand ( Hakala, 2015) | Adopts pioneering strategy – the first company to set a standard for botanical products.Exploration of new services - starts new business with R & D lab for pharmaceutical and cosmetic because not all companies have research lab.Competes with competitors in terms of offering various range of products unavailable in the market and speeds up the process of productCompetitive pricing strategy- price based on market trends Making a difference in terms of product quality and service – value proposition.Price and service strategy-cheaper price and good servicePromotion strategy- promote in social media, schools and universitiesOn the lookout of current market trend- always be on trackPursue Global Strategy – penetrates global market | “This product is available in the Philippines and some other countries such as the US. However, in Malaysia, this is the first of its kind” (#2) “Right now, I’m the first to introduce healthy chocolate and 3D museum. Customers can learn the process of making chocolate, have a visit to our avatar theme garden and purchase healthy chocolate at a cheaper price” (#4) “I do a lot of sampling as well as testing of our patties by the customers and improve our recipe from their comments. I have my own technology to test the quality of the ingredients for my products” (#12) “In Malaysia this industry is very aggressive and intensely competitive. My strategy is increase production and go global. I am not focusing only on Malaysian market but also global market” (#17) |
| 3 | Entrepreneurial BricolageDefinition:The capability of entrepreneurs of innovating, adapting, and recombining current or accessible resources like human resources and raw input for the creation or capturing of opportunity or resolving issues ( Baker & Nelson, 2005). | ability in finding workable solution by using technology given the various constraintsresponds to a new problem or opportunity by using previous experience | Despite the many constraints, I managed to do well. No more traditional ways of doing things. I can increase production and sell to the market more frequently” (#6) “In business we will face various problems, but you need to look at them from the positive side. Based on my experience I can deal with the problems and turn them into opportunities faster than competitors” (#9) |
| Organisational Factor | |||
| 4 | Structural CapitalDefinition:Processes and procedures that are created and stored in an organization’s system that enhances the knowledge through the organization ( Isaac et al., 2010). | Develops new procedure and process to test productsDevelops new standards to be adopted by the industry.Has the procedures to develop its unique capabilitiesAvailability of company’s information system that helps employees to perform their jobs. | “In this industry, I am amongst the first to introduce the new standards for botanical products. That’s one of my strengths.” (#1) “My employees and I often share ideas on product management and how to improve product quality and reduce cost. We translate the ideas into procedures that can be shared by everyone in the company” (#2) I provide training to staff on certain procedures. However, the staff in R&D is more knowledgeable regarding the green ingredients. We always share the knowledge in terms of improving the business” (#12) |
| 5 | Human ResourcesDefinition:The combination of capability, knowledge, ability as well as experience that are strategic renewal and innovation source of a firm ( Bontis, 1998) | Technically competent and skillful employeesExperienced employees | “My employees are innovative and skillful. I hire those with some working experience” (#17) |
| 6 | Social Capital/ NetworkingDefinition: Relationships that are not only limited to internal knowledge among employees, but also extend to linkages with customers, suppliers, alliance partners and the like ( Youndt et al., 2004). | Good relationships with customers Establishes trusting relationship with suppliersMaintains stream of loyal customersGood relationship with local authoritiesBuilds networking with other entrepreneursNetworking- attends and participates in seminars and workshops | “I always attend exhibition and business programmed. Apart from enhancing my business knowledge, I am able to build my networking” (#5) “I have a very good relationship with my suppliers, which makes it easy when it comes to negotiating the terms and cost of the supply. We trust each other” (#17) |
| 7 | Technology capabilityDefinition:The ability of a firm to generate business values by employing its technology resources and know-how ( Chae et al., 2018) including technology driven production systems and techniques. | Leverages on up-to-date technology to develop more efficient work processes.owns the technology and as well as expertise in utilizing the technology | People around me think that ago business will not go far. But I prove them wrong. With the technology that I am using, I can produce in large quantities and I earn more than expected. What I can say, don't be scared to try, you will never know what will happen next!” (#18) |
| 8 | Business agility Definition: The capability of achieving agility in operation through the improvement in competitive advantage that is time sensitive such as being responsive and adapting to customers’ demand ( Shin et al., 2015) | Responsive to customer needs by monitoring market trendsable to renew, adapt and change quickly in a rapidly changing environmentoffer | “In technology-based industry, you must move fast, you have to adapt and change quickly because the environment is very dynamic. That is why we need to upgrade our technology” (#3) “My nature of business is unique…I transformed waste to wealth through biotechnology. I update my knowledge to keep abreast with the new development and to stay ahead in business competition” (#13) “Evolution is normal, you can’t avoid it. I am always on the lookout for the market trends. I always stay ahead to ensure that I sustain in the long run” (#13) “I have my own target. I will do changes and redesign my products even though it’s very tough, otherwise I can’t sustain” (#17) |
| Institutional Factor | |||
| 9 | Institutional/Government Agencies SupportDefinition:All forms of assistance and support mechanism made available to the firms. | Technology supportMachines and EquipmentFinancial supportTraining and CoachingMarket accessibility and promotional support – awareness about productsResearch and Development supportTechnical Advices | “We are thankful to Agency A and B for the technology and financial support” “Initial training provided by Agency C and A gives us many early exposures regarding this technology” “Trainings provided by Agency D, Agency E, and Agency F really help new technopreneurs to gain knowledge in running a business” “Agency A assists us by organizing events to introduce our products to the market. This is really helpful” “Agency G provides coaching and training assistance to us; and that really helps given that we are lacking in terms of business skills.” “Agency H opens up a lot of opportunities for us to get access to the market.” “Agency, I organized trainings for technopreneurs development programme for young entrepreneurs like me. We learn how to run business and how to deal with challenges” “I attended various trainings organized by the local universities on the use of technology and how to improve productivity with technology as well as R&D support”. “there are other institutions and government support to my business by showcasing my products in business events and exhibitions. It really helps my company. It enables the company to grow further” |