Home | Forums MBA Managerial Economics Discussion Forum Reply To: MBA Managerial Economics Discussion Forum

  • Ida Farisha Binti Meor Alim Shah Shah

    November 20, 2021 at 5:44 pm

    IR 4.0 or Industry 4.0 aims to boost productivity and scalability of traditional industrial and manufacturing process by combining IoT to create interconnected systems that analyze, communicate and use relevant information to drive actions intelligently [1]. Everyone or every business reacts to change differently, but either way, if you do not embrace the upcoming change; sooner or later your business might be obsolete.

    But I have to say with the limited readings that I’ve done – I am impressed by how prepared and eager Malaysia government is towards Industry 4.0. If you open MITI website [2], you’ll see the ministry has launched Industry4WRD: National Policy on October 2018. And going through the info-graphics, you will see how comprehensive the program is. This program will help eligible organizations with readiness assessment, guidance, financial aids and implementations. If I own a business, I would definitely take advantage of this government program to ensure that my business is Industry 4.0 ready and most importantly, by being in this program I will get the best advice and help with some of the challenges that comes with it. Some of those challenges are [1]:

    1. Lack of confidence to implement a modern digitization plan
    2. Lack of in-house talent and skillset to take Industry 4.0 deployment and development initiatives
    3. Limited knowledge on the latest technologies
    4. Unclear on data security and legal issues
    5. IT-related vulnerabilities

    Of course organization will face more challenges then what’s listed above but I am sure Industry4WRD program will inform you on the challenges and prepare you for it. For employees in these organizations – be ready. A lot of standard works will be automated which will replace the need for human workers. It is the organization’s responsibility to take proactive actions in assessing each workers’ skillset and see whether or not it is align with Industry 4.0. If it is not, upskill trainings need to be made available to every employees. But to employees, I’d say this – do not resist; the change is inevitable, just like any organization that refuse to change and became obsolete; we can be obsolete too. So employees have to embrace the change and participate. If all levels in an organization focused towards Industry 4.0, in every organizations in Malaysia; and we attack this new wave fast and head strong; just imagine where we’d be in 10 years from now. Malaysia could be the Industry 4.0 role model for all developing countries. How cool is that?

    Just my humble opinion,

    Ida F Shah


    [1] https://axxis-consulting.com/what-is-industry-4-0/

    [2] https://www.miti.gov.my/index.php/pages/view/4832