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Book part
Publication date: 17 February 2023

Aarti Saini and Vikas Garg

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Transformation for Sustainable Business and Management Practices: Exploring the Spectrum of Industry 5.0
Type: Book
ISBN: 978-1-80262-278-2

Book part
Publication date: 17 February 2023

Suneel Kumar, Aarti Saini, Varinder Kumar and Sanjeev Kumar

Technology has penetrated in every aspect of society, and information and communication technologies (ICTs) have become a part of every aspect of life. Over 20 years of ICT use…

Abstract

Technology has penetrated in every aspect of society, and information and communication technologies (ICTs) have become a part of every aspect of life. Over 20 years of ICT use, nearly every government and the big business area has been radically transformed. Education is a profoundly social profession, and historically, effective education has been associated with good instructors who have a high level of personal connection with students. The use of ICT in higher education allows for more student-cantered learning settings. Nevertheless, as digital media and information continue to take over our lives, the importance of ICT inside higher education continues to rise. The higher education system plays a crucial part in every country’s growth in improving human resources (HR); higher education should create an educated population that will bring peace and socioeconomic and societal growth. Education reform agendas benefit from the use of ICT in most developing nations. ICT in education is one of the most practical approaches to improve India’s higher education system. The purpose of this review chapter was to examine the role of ICT in higher education. This chapter addressed how ICT may promote and revolutionize higher education in India through new government initiatives. Furthermore, the chapter addressed the issues and challenges associated with the use of ICT for educational purposes.

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Transformation for Sustainable Business and Management Practices: Exploring the Spectrum of Industry 5.0
Type: Book
ISBN: 978-1-80262-278-2

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Book part
Publication date: 17 February 2023

Abstract

Details

Transformation for Sustainable Business and Management Practices: Exploring the Spectrum of Industry 5.0
Type: Book
ISBN: 978-1-80262-278-2

Book part
Publication date: 17 February 2023

Amin Faraji, Amin Gharibi and Azadeh Azimi

In this chapter, the epidemic diseases, their impact on the future of cities, and the causes of these problems for cities are examined. Additionally, efforts will be made to…

Abstract

In this chapter, the epidemic diseases, their impact on the future of cities, and the causes of these problems for cities are examined. Additionally, efforts will be made to address these challenges and problems, a response that can make future cities livable and sustainable, despite population growth, increasing environmental problems, increasing urban management challenges, epidemic diseases and pandemics such as COVID-19 and other challenges and problems. This chapter will also discuss the steps taken in the field of smart transformation and smart cities and the necessity for cities to move toward smart transformation.

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Transformation for Sustainable Business and Management Practices: Exploring the Spectrum of Industry 5.0
Type: Book
ISBN: 978-1-80262-278-2

Keywords

Book part
Publication date: 17 February 2023

Brahmmanand Sharma and Navita Nathani

Adult learning has been significantly impacted by the massive open online courses (MOOCs). All the preceding literature have mentioned about MOOCs. The current study, however…

Abstract

Adult learning has been significantly impacted by the massive open online courses (MOOCs). All the preceding literature have mentioned about MOOCs. The current study, however, aims to look into how the MOOC has affected higher education. This study looks into how MOOCs have affected higher education in Gwalior and the nearby areas. Its primary goal is to investigate the crucial elements of creating the teaching and learning processes employed in Gwalior and the surrounding areas by utilizing open-source courses (MOOCs) in higher education. An analytical and descriptive technique was used in this study. The required information was gathered using a quantitative survey. All academics and students in Gwalior and the surrounding areas made up the study population. The findings of the analyses show that MOOCs have a significant direct impact on higher education by enhancing educational achievements (p = 0.001), which is consistent with H1. Additionally, a 65% boost in educational results was attributed to MOOCs. The results demonstrate that MOOCs have a beneficial impact on higher education.

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Transformation for Sustainable Business and Management Practices: Exploring the Spectrum of Industry 5.0
Type: Book
ISBN: 978-1-80262-278-2

Keywords

Book part
Publication date: 17 February 2023

Thilini Chathurika Gamage and Athula Gnanapala

Digital disruption no longer ensures the security or longevity of established firm structures and business models. Instead, it necessitates that firms reinvent their business…

Abstract

Digital disruption no longer ensures the security or longevity of established firm structures and business models. Instead, it necessitates that firms reinvent their business models, including business processes, people, and technologies that align with the organizational goals. Despite the exponential growth of digital disruption, prior literature indicates that the concept of business model innovation is poorly understood in developing economies. Furthermore, little is known about how low-tech firms in developing economies should adapt and reinvent their business models to cope with and shape digital disruption as it unfolds. Grounded in two overarching theoretical frameworks, namely the theory of disruptive innovation and the resources–processes–values (RPV) framework, this chapter addresses this void in prior literature. Based on multiple case study analyses of 10 low-tech firms in diverse industries in Sri Lanka, the findings indicate that successful disruptive business model innovation in low-tech firms in Sri Lanka is predicated on an effective technology management strategy, suitable organizational structure, compatible organizational culture, and devoted corporate governance. Moreover, external influences like changing market dynamics, competition, and shifts in consumer behavior also significantly influence disruptive business model innovation of selected firms. This chapter acts as a springboard for future researchers by extending the theory of disruptive innovation and RPV framework to low-tech industries in developing economies.

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Transformation for Sustainable Business and Management Practices: Exploring the Spectrum of Industry 5.0
Type: Book
ISBN: 978-1-80262-278-2

Keywords

Book part
Publication date: 17 February 2023

Sunanda Vincent Jaiwant

The preceding revolution, Industry 4.0, surfaced by way of the influx of digital and automation technologies. Industry 5.0 followed the suit and the world is on the threshold of…

Abstract

The preceding revolution, Industry 4.0, surfaced by way of the influx of digital and automation technologies. Industry 5.0 followed the suit and the world is on the threshold of this new evolution. Industry 5.0 attempts to bring together the competency of smart machines and the exceptional ingenious potentials of the human workforce. Industry 5.0 is humanizing the digital and automated systems. It recognizes both automated technology and the human innovative skills on an equal platform. Marketing in its new role revolves on the axis of automation and cyber technology of Industry 5.0. This new makeover of marketing processes generates superior marketing actions, restructures marketing workflows, and assesses the results of marketing promotions. Industry 5.0 tools make available a fundamental marketing catalog for all marketing content and communications, thus assisting marketers to fashion a fragmented, customized, and favorable marketing experiences for prospective buyers. These systems and spaces offer automation attributes across numerous phases of marketing including videos, blogs, emails, social media, lead generation, direct mails, digital advertising, and more.

This chapter aims to introduce the concept of Industry 5.0, where robots and machines are interweaved with the human intellect and labor as teammate instead of opponent. The objective of the chapter is to examine and explore the different facets of marketing in the face of Industry 5.0. The chapter describes the challenges and future trends and practices in marketing field in the wake of Industry 5.0 as the way forward for the companies for sustainability and resilience.

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Transformation for Sustainable Business and Management Practices: Exploring the Spectrum of Industry 5.0
Type: Book
ISBN: 978-1-80262-278-2

Keywords

Book part
Publication date: 17 February 2023

Udayan Karnatak

Industry 5.0 has shown a new approach to integrating enterprises, particularly fintech firms. It would be interesting to see whether we are ready to implement Industry 5.0 across…

Abstract

Industry 5.0 has shown a new approach to integrating enterprises, particularly fintech firms. It would be interesting to see whether we are ready to implement Industry 5.0 across domains and enterprises while there are still obstacles to overcome, such as cybercrime impacting fintech organizations. Using empirical analysis of the fintech stocks that make up the KBW index, the author uncovered the influence of cybercrime on investor herding behavior in a highly interdependent environment provided by Industry 4.0. The cross-sectional standard deviation has been shown to rise after a cyber attack on a company anywhere on the globe. Furthermore, the author established the long-term equilibrium of the volatilities of gold and bitcoin returns, as well as the volatility of Keefe, Bruyette, and Woods (KBW) returns, in the sample after the firms’ cyber assault using Vector Auto Regressive (VAR) and Vector error correction model (VECM) models. Following the cyber assault, there is a decrease in the volatility of KBW returns while the volatility of bitcoin returns rises, suggesting a volatility transfer from one market to the other. These results show that during times of crisis, investors should be more careful in their approach to investment diversification, and any Industry 5.0 implementations should be done with the constraints in mind.

Details

Transformation for Sustainable Business and Management Practices: Exploring the Spectrum of Industry 5.0
Type: Book
ISBN: 978-1-80262-278-2

Keywords

Book part
Publication date: 17 February 2023

Huy Pham, Thai Nguyen Vu Hong, Hanh Le and Mai Bui

This chapter examines the effects of financial technology news on banks’ return, efficiency and profitability in China and Vietnam from 2011 to 2019. The authors use various asset…

Abstract

This chapter examines the effects of financial technology news on banks’ return, efficiency and profitability in China and Vietnam from 2011 to 2019. The authors use various asset pricing models to estimate the abnormal returns (AR) of various listed Chinese and Vietnamese banks following their announcements of FinTech adoption. The authors also use data envelopment analysis (DEA) to examine whether financial technology improves banks’ efficiency and profitability. The results of this study show that only six banks showed positive reactions, 15 banks experienced negative reactions, 11 banks exhibited mixed reactions and eight banks indicated no reactions to financial technology news in China. On the other hand, the authors find that financial technology is welcomed by Vietnamese banks whereby most of them experience mixed reactions with the domination of positive reactions. The authors also find a lower efficiency level in early adopters of financial technology and reduced profitability in the first year when they started applying financial technology.

Details

Transformation for Sustainable Business and Management Practices: Exploring the Spectrum of Industry 5.0
Type: Book
ISBN: 978-1-80262-278-2

Keywords

Book part
Publication date: 17 February 2023

Syed Asif Mehdi and Lata Bajpai Singh

Entrepreneurial orientation (EO) and entrepreneurial intentions (EI) both are prominent factors in the entrepreneurship domain to predict entrepreneurial behavior. Despite the…

Abstract

Entrepreneurial orientation (EO) and entrepreneurial intentions (EI) both are prominent factors in the entrepreneurship domain to predict entrepreneurial behavior. Despite the fact, association between the EO sub-aspects and EI, as well as the indirect influence of the personality characteristic (Openness), has not been extensively investigated. The focus of this research study is to examine the association between sub-dimensions of EO, proactiveness, risk-taking, and innovativeness, and EI incorporating personality trait openness to experience (OTE) as mediating variable. Data is gathered from 164 professional course students. For the data analysis purpose, mediation analysis, multiple regression and confirmatory factor analysis (CFA) have been performed. Findings imply that all the sub-aspects of EO are significantly correlated with EI and personality trait OTE acted as mediating construct in link amidst EO and EI. Practical and theoretical contribution have been discussed in this study.

Details

Transformation for Sustainable Business and Management Practices: Exploring the Spectrum of Industry 5.0
Type: Book
ISBN: 978-1-80262-278-2

Keywords

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