Digital Entrepreneurship 4.0: A new chapter in the obstacles of establishing SMEs. The tide of the next digital age is in and Thailand needs to rise to meet the changes. In the fast and constantly evolving digital era, entrepreneurs will have to adapt and devise revolutionary methods to keep up with modern demands, utilizing the readily available technologies for the development modern and sustainable business practice.
Over the course of the modern Thai economy, merely 20% out of 2.78 million SMEs in Thailand have been able to survive and thrive in the current economy. The component to their failure is admittedly the shortage of personal funding for sustenance and expansion. But with offerings of the modern digital age, target audiences have become within an unprecedented close reach, breaching the possibilities into limitless coverage, giving entrepreneurs the tools to better efficiently manage their businesses and lower production costs. In moving to becoming a Digital Entrepreneur, the first step is to accept the new and unknown. The rest of the standard requirements is to simply devoting an effort into researching and understanding the best fits of technologies to your business model or to further integrate into your existing systems, and keeping organization personals proficient in the new changes, paving the way into the age of Thailand #Digital4.0
And so comes the time for business owner to open up with open arms, and welcome Thailand 4.0. Since in the past, we’ve heard the saying “moving Thailand into the next generation, to become Thailand 4.0”. It comes from the economy model of Thailand 1.0 - 4.0; for improving Thailand over the generations of economic development. The reason for the model originates from the issue of Thailand remaining in a state of the “middle developing country” for the past 20 years, with annual growths at only 3-4% while competition in the rest of the world has significantly moved on ahead. Therefore it is then time for Thailand to also improve and enter into the next 4.0 generation, utilizing innovations and new technologies, moving from the practices of excessive inputs and small returns in manufacturing, to small inputs and significant returns of the service industry, through creative approaches of wielding new technologies in creating new innovative business practices. Thailand 4.0 is the economic model of mobilizing the economy, society, and culture into meeting the modern demands of the modern economy, with everyone taking part in achieving the model’s success through learning, understanding, and their leap of faith in accepting the change.
Today I would like to present you with a short animation to further explain Thailand 4.0...As the world changes, so should we? As the mediums to communicate expands, we need to collect our thoughts and spread our word./p>
The governmental policy for Thailand to becoming the regional leader in development of Thailand 4.0 aims to mobilize the economy by moving the focus from the previous “efficiency” model towards a “digital integration” approach. Let’s now identify the majority of profession demands of the 4.0 generation.
The “Job Portal” firm, Jobs DB (Thailand) Ltd. presents us with the information in the staffing demands of professions going into Thailand 4.0, furthering as a mechanism for moving into the next generation of the economy. Jobs DB aims to bring together business and organizations to their target workforce to make the best connections in the supply and demands of skill sets, complying with the Thailand 4.0 policy. Reports from the top 36,000 who are also contracted to Job DB’s services also reflect the top 10 highly desired profession lines in the economy.
Digital Transformation is the integration of Digital Technologies into day-to-day business operations, resulting in changes from the most fundamental level in production up until the product reaches the customers’ hands. Although it is called “digital”, essentially it is still the “person” that at the core of the process, as unless the person is willing, change will not come even with the most advanced of technologies.
Organizations which are in the process of a Digital Transformation must also bear in mind the the importance of personnel and how their abilities and practices can adapt into the new processes in compliance to the modern market’s demands. # Asia Digital Expo # Digital Transformation
6 stages of how an Organization reaches a full Digital Transformation
Stage 1: Operations remain the same however there is a greater emphasis on investments for improving and developing the organization's platform. The benefits show with the integration of new technologies while also establishing the digital feature as another line of business, which still lacks a concise connection to the organization's image
Stage 2: The organization’s observation on disruptions in the work-flow may start to be increasingly apparent in this next stage as it proceeds into a state of learning and experimentation. Operations continue with the same silo mentality with investments towards new digital technologies still made according to the existing form of result assessment, indicating that digital integrations are not yet systematically managed.
Stage 3: Digital integration are now being systematically managed with precise strategies towards the desired goals. Entrepreneurs and leaders are now more active and receive greater roles in strategic incentivizing for investors in improving the labor, process, and technology, leaving the organization leaders with greater insight and role in creating change. The next part is then the restructuring and reassessment of the organization’s goals and structure in accordance with the integrated digital platform, creating a sustainable business plan of a higher standard.
Stage 4: The organization must be determined to change. At this stage, the organizations has now accept the step of moving towards a digital transformation, defining explicit short and long term goals in its existence, Nonetheless including other options and potentials to where the digital technology may lead, and the amount of support and investments needed to fully establish such infrastructure.
Stage 5: The organization has reached the state of a digital transformation, having it as part of its operating DNA. The transformation will present possibilities for new innovative ideas and will require a strong emphasis on investing in the “digital initiative” process, representing new and concise values for the organization, recognizing the needs for new operation models in accordance to the altering demands of the market.
Stage 6: A complete digital transformation is achieved, absorbing the culture of digital innovation and prepared to move towards empirical investments, leading to growth and a new level of competition with full confidence of sustainability and longevity.