COMPETENCIES OF SMEs EXECUTIVES IN THE INDUSTRY 4.0 ERA

Abstract

Executive competencies play a crucial role in any organization, as executives play a pivotal role in driving success, particularly in the context of Industry 4.0, where technology has revolutionized production processes and business management models. The objective of this research was to conduct a Confirmatory Factor Analysis of the competencies possessed by small and medium business executives operating in the industry 4.0 era. Data were collected through interviews and questionnaires administered to experts and executives. The analysis encompassed content analysis, frequency, percentages, exploratory factor analysis, and confirmatory factor analysis. The research findings revealed that the competencies of SMEs executives in Industry 4.0 can be categorized into three main components: knowledge, skills, and attributes. Within these, there are nine sub-components, including 1) proficiency in marketing and corporate communications, 2) expertise in production, network establishment, and staff development, 3) knowledge of innovation and leadership in the transition to digital organizations, 4) proficiency in information accessibility and digital marketing skills, 5) proficiency in business networking, human resource development, and electronic tool utilization, 6) skillfulness in production quality control, data analysis, and new product development, 7) proficiency in cultivating strong relationships and demonstrating commitments to work, 8) proficiency in leadership and decision-making, and 9) the ability to pursue business opportunities. These findings align with empirical data, exhibiting a good fit with indices such as c²/df = 2.46, GFI =0.97, AGFI = 0.93, CFI =0.99, and RMSEA = 0.06.