Promising Business Opportunities in the Industrial Age 4.0 and the Society Era 5.0 in the New-Normal Period of the Covid-19 Pandemic Volume 5 - Issue 4

Abdul Aziz*

• Management Studies Program, Asian Cyber University, Islamic Economic Program, IAIN Syekh Nurjati Cirebon, Indonesia

Received:July 13, 2021   Published:August 03, 2021

Corresponding author:Abdul Aziz, Management Studies Program, Asian Cyber University, Islamic Economic Program, IAIN Syekh Nurjati Cirebon, Indonesia

DOI: 10.32474/SJPBS.2021.05.000216

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Abstract

Today, almost all sectors of the world’s life, including the business sector, has experienced a drastic decline, both large-scale businesses and small businesses. Even though in the era of disruption (industry 4.0), which is accelerating the flow of information and technology seamlessly around the world, it is slowly but surely entering the era of society 5.0, experiencing new challenges, namely the global crisis due to the COVID-19 pandemic that started in the city of Wuhan in China. Towards the end of 2020 until now the world order has drastically changed, the spread of Covid-19 has been evenly distributed throughout the world, all means and efforts to restore normalcy in all areas of life are taken, including Indonesia, starting with PSBB and now PPKM is carried out to restore uncontrollable conditions to normal control. as before. Will in the era of society 5.0 which is marked by the industrial era 4.0 during the covid-19 pandemic, the world order can recover and return to normal, including in Indonesia. And, what about the next business opportunity during this situation and condition?

Keywords:Business; Industrial Era 4.0; Society 5.0 Era; New Normal; Covid-19; Global Crisis

Introduction

The world order is now being tested again in drastic and slow changes but has entered the second dramatic phase, including in Indonesia, namely the spread of the Corona Virus-19 wave 2 with the Delta variant which is said to have originated from India. Almost every day, it is reported that transmission with positive symptoms and asymptomatic cases reaches more than thousands, with a significant death rate. The life of the world has also agreed to enter the Industry 4.0 era which is accompanied by the era of Society 5.0 with an uncontrollable acceleration that also facilitates all human needs. The Industrial Era 4.0 marked the changing of society so quickly with the acceleration of the flow of information without any barriers wherever it existed (disruption), and industrial-digitalization technology that is increasingly modern and sophisticated can adapt all types of human actions and behaviour [1-5]. Technology makes one’s work easier, especially from time to time, changes in industrial technology are increasingly modern and sophisticated, almost perfect so that humans are made dependent. Therefore, the Industrial 4.0 era has now become a global trend and any country including Indonesia must accept it, both positive and negative impacts that accompany it. This is because the presence of Industry 4.0 is certain to bring about changes in attitudes and behaviour due to the convenience of the accompanying technology. Coupled with changes in individual attitudes and behaviour at the same time changing the social order with the establishment gradually eroded in the modern style [6]. With this situation and condition, we need and must respond wisely and wisely, especially for business people so that in facing these two eras coupled with global conditions that are experiencing the Covid-19 pandemic through optimism and responsiveness while believing in great opportunities in the world. before the eyes. Rosmida in her research suggests that in dealing with these two eras it is necessary to deal with five strategies, namely

a) the need for digital-based skills,

b) responsive to the development of new and renewable technologies,

c) adaptive to changes in industrial technology, and digitalization-based businesses,

d) improving soft skills-based capabilities, and

e) transforming the world of quality education based on strengthening software and brain device as well as hardware, so that humane, innovative-productive creations are ready to be produced.

This is in line with the findings [7] which emphasizes that in the era of the Industrial revolution 4.0 and the challenges of changing the Society 5.0 era, all activities and actions, including business actors, must be aligned with the use of renewable technology. Business people through conventional manual methods need to be reconsidered if they want to go public. That is, if you use manual work and promotion methods rely on the people who come, it will not be big. The use of technology digitization, the use of free and paid software is a strategic solution in developing business strategies in this era. He adds that the modern era which is now known as the Industrial 4.0 era and the social revolution in the era of society 5.0 cannot be denied being referred to as a consequence of disrupted contemporary life, so it is very necessary to adapt by utilizing and considering aspects of technological humanism. The presence of renewable technologies in artificial intelligence, big data, robotics, machine learning, robotics, and internet of things (IoT) models is an undeniable part of innovative products and technological creations and their engineering to facilitate work, including the business world. And, this article examines whether the industrial era 4.0 and the community era 5.0 during the Covid-19 pandemic, any business opportunities in any form of business are promised by utilizing digitalization technology.

Literature Review

As it is known that Industry 4.0 is a follow-up to the industrial revolution 1.0 in 1800 which was part of a fundamental change in an activity of human life in the process of production, consumption and distribution with the related environment through the integration of physical form, digital technology with humans as human capital [8-10] For the world, the Industrial 4.0 era is a revolution that the industrial revolution appeared in England, the first time as a result of a shift and the ordinary industrial world with human (manual) power switching (transformation) to machine power. According to the [11,12] classification of the characteristics of the industrial era 4.0 can be recognized by the increase in growth, both qualitatively and quantitatively through increasing manufacturing digitization so that it appears that

1) An increase in the volume of data, computing, and connectivity

2) An analysis, capabilities, and business intelligence

3) The emergence of new models of interaction between humans and machines and their environment, and

4) The reorientation of instructions arising from digital transfers to the physical world, such as robotics, 3D printing, and so on.

Likewise, the era of Society 5.0 which is content due to the industrial era that changes the perspective of society, which of course both are interconnected, the Industrial 4.0 era in technological transformation with digital engineering. So the era of Society 5.0 focuses more on changes that occur in humans in their attitudes and understanding. If the Industry 4.0 era in the context of business development requires three literacy, such as data literacy, human literacy, and technological literacy. So in the era of society 5.0, assistance is needed, digitalization technology is a substitute for distributors and promotions to replace the role of sales promotion [13-15] In Puspita’s research, [16,17] explained that indeed the industrial revolution which was marked by a change in the way of life and work processes could essentially be facilitated due to the presence of modern technology that presents all types of information that can be connected and recorded in digital technology. Likewise, the era of society 5.0 is tasked with more critical human behaviour and attitudes, innovation and professionalism so that it is easy to adapt and be responsive to changing times.

According to Heriyawati that the Industrial 4.0 era, known as the era of disruption, is a creation of the digital world that cannot be blocked. As a result, the acceleration of access to information and communication is so intense that it becomes a contemporary custom for human behaviour today. This is natural of law (sunatullah), where the role of the mind that always thinks must produce a dynamic and change. The impact is of course, in addition to emerging innovations along with its destruction, extinction and destruction will certainly appear. Life is a provision, where those who are ready for change will feel this era is both exciting and scary. Likewise, [18-21] in his research, emphasized that the changes that are currently in process and running with the creation of technological advances have radically changed the world order, both the world and the digital world, which are the main characteristics of the Industrial 4.0 era. Anyone who can become an agent of change will certainly experience progress, including a country in general, and business people in particular. This era is marked by the realization of manufacturing technology based on digitalization and artificial intelligence data exchange, such as the internet of things (IoT), cyber-physical systems, cognitive computing, and cloud computing. All of these are of course as artificial technologybased tools that may be the trigger for success in doing business in this era. Not in MSME activities.

According to Nurgroho & Andarini in their research explaining that every business actor including MSMEs in the Industry 4.0 era must be able to prepare various strategies, one of which is utilizing digitalization technology to be competitive by offering innovative, creative, attractive packaging products. , excellent HR. On the other hand, [22] asserts that for anyone, it is certainly an opportunity in the era of disruption (Industry 4.0) and Society 5.0 because today the dependence of human life is based on information. So, whoever can make the new technology and its development can be utilized becomes the winner. In the future, technological engineering through digitalization innovations will also lead to the wonders of the supply-side sector, with long-term efficiency and productivity gains. Transportation and communication costs will decrease, global logistics and supply chains will become more effective, and trading costs will decrease, all of which will open up new market opportunities and encourage economic growth.

According to Suyitno what has predicted regarding the Industrial 4.0 era has the potential to degrade the human role, as technology plays a major role in making Japan give birth to the concept of Society 5.0. This concept emphasizes that artificial intelligence through the transformation of big data collected via the internet from all aspects of life will certainly produce new wisdom, the hope is that it can make human abilities open up opportunities for human benefit. Therefore, it is undeniable that today’s very rapid changes with modern technology plus the flow of globalization without regional and state barriers have led to the development of super-fast information system technology without being dammed, resulting in the global trend of the Industrial Era 4.0 and Society 5.0. For business people, this is a very promising opportunity in the present and the future, especially if business people can embody three important interconnected elements, namely the Industry 4.0 era and the Society 5.0 era with the Sustainable Development Goals (SDGs) program launched by the United Nations as a complementary data [23-25].

Method

This article was written using a qualitative approach focused on analyzing promising business opportunities in the era of disruption (Industry 4.0) and the era of Society 5.0 during the new normal period of the Covid 19 pandemic in Indonesia by describing more of a contemporary phenomenon based on data and information [26]. The exploration method is used to explain a phenomenon that is described in data and facts from research results that have been published in national and international journals and other sources. To collect data and research facts, they are taken as a whole from the journal or only in part, then sorted so that data accuracy occurs by referring to the triangulation model to strengthen between one case and the same case and then analysis and interpretation is carried out. Because according to Piaget’s theory that data can be useful knowledge if it is presented with inaccurate information.

Results and Discussion

Industrial era 4.0 and society era 5.50 during the covid-19 pandemic masa

It is understood that the development of science has greatly contributed to changing the world [11]. In their research said that the theory of knowledge creation in the last quarter-century has been able to contribute greatly to management innovation so that it is useful in the era of Society 5.0. Today’s innovation demands socioeconomic integration that transcends the boundaries of today’s companies. By preparing a system (knowledge ecosystem) as a basis, we can build civilization progress [5,7,16]. According to that global issues that impact the joints of life, such as the situation of increasing global problems and dangers of anthropo-technological, medical-epidemiological, economic, environmental, demographic characteristics, the demand to identify transformational changes in relevant global and national labour markets. The industrial revolution 4.0, the threat of the COVID-19 pandemic, the transition to Society 5.0 or Super Smart Society is a challenge that changes the characteristics of the world of work, the workforce, in each country and humanity as a whole. The transformation in the global and domestic labour markets caused by the complex impacts of the digitalization process and the COVID-19 pandemic. Agree on this. According to them, the impact of the global crisis caused by the transmission of Covid/Post-Covid-19 is not only in the health sector, socio-cultural but also in the education business sector. For the business sector, there has been a major transformation in mapping business opportunities, not only on business but also on the elements that surround it. For example, in a teaching and learning system that initially used an offline model, now it must be online so that it requires the use of IoT on a large scale, the use of AI (artificial intelligence), big data, and machine learning for business forecasting, the use of cloud platforms to manage intelligent education, devices wearables, smart city, smart society, smart healthcare, smart welfare, smart SME, smart retail, smart supply chain, and the future of business based on a digitized culture called ‘’Work-welfare 5.0 on Urban 6.0’’ as the solution. This is what [15] call the contribution of scientific theory to changes in the global order of life, especially in the Industrial 4.0 era and the Society 5.0 period as described [21,15].

In the Industrial 3.0 era along with the Society 4.0 era which relies on computerization, internet, IC, and automation and continues in the Industrial 4.0 era for ten years with very fast changes changing a new order that relies on digitalization-transformation technology engineering, virtual reality, cyber-physical systems (Figure 1), smartness to usher in an economic and business revolution by involving the connectivity of other organizations. In such situations and conditions and have developed an innovative model in which the benefits of transforming social needs into one another can be utilized. Not only relying on technological engineering and artificial intelligence but also rearranging the order of world civilization through a change in mindset that refers to the harmony of attitudes and character in humans themselves. These authors seem to want to refer to the concept of the Japanese community initiative with the Society 5.0 era model which not only focuses on technological developments and the opportunities inherent in responsible innovation through maximizing the role of humans. In the era of Industry 4.0 and Society 5.0, there is a great opportunity for business with virtual media through digitalization. This is at the same time able to play an important role in making financial support effective for recovery from the COVID-19 crisis and opening up business opportunities at this time. The following describes the theory of the fifth wave of revolution.

From the picture above (Figure 2), it is known that the first development of human civilization began as the development of society 1.0 with more than 70,000 years at the same time as the start of the Industrial 0.0 era which was marked by an agrarian society. The Industrial Era 1.0 is based on the industrial revolution with a social structure of 3.0 in the 17th to 18th centuries, and then the current era enters the Industry 4.0 era with a 5.0 society order that will last for 20 years starting in the 21st century. Marked by Super Smart Society and Digital Transformation This era has great opportunities in the business world using digital technology. So, it is not surprising that e-digital, e-wallet, e-commerce and so on have emerged. According to Sołtysik & Zdenek (20210 that in this era business opportunities are very large and depend on digital services, with the most popular being applications, websites, and platforms. These business opportunities are directly related mainly to the public sector, such as transportation, education, culture and sports, economy and finance and health. And this business opportunity is not only limited to the domestic area, but can cross geographical boundaries in various countries, including Asia, Western Europe, Northern Europe, Southern Europe, and Eastern Europe, and others. This is because in the Industry 4.0 era which coincides with the era of Society 5.0 which relies on artificial intelligence (AI), robotics, big data, etc., both serving women and men, as well as society in general, all of which are connected between regions, between cities and even between cities. between countries between continents without barriers and boundaries, even supported by physical restrictions due to social distancing, it is very likely to use IoT (internet of things) devices and big data as a macro-scale liaison. However, the community still has to be critical and able to adapt (Figure 3). Given the great opportunities in the business sector in this era, the relationship between the Industry 3.0 era (society 4.0) and the society 5.0 era (industrial revolution 4.0) can be described as follows:

From the picture above, it is clear that there are very prominent differences in the two eras, especially in business development and the opportunities that exist in it. In the 4.0 era (Industrial Revolution 3.0) business and economic opportunities involve 5 (five) main elements, namely

1) Economies of scale

2) Uniformity

3) Concentration

4) Vulnerability

5) Mass consumption resources with high environmental impact. Meanwhile, in the era of Society 5.0 (Era of the Industrial Revolution 4.0) it changed from economies of scale to

6) Problem solving and value creation

7) Uniformity into diversity/difference

8) Concentration into locality (decentralization)

9) Vulnerability into resilience

10) Environmental sustainability and balance. Especially during the Covid-19 pandemic, a good strategy is needed.

To create a good atmosphere and conditions, as well as an accurate strategy, [5,8,19] suggested that during the COVID-19 pandemic, which is marked by the digital era as a manifestation of the Industrial 4.0 era, it is necessary to utilize Artificial Intelligence. Intelligence (AI) which seems to act as a guardian of this new virus is within reasonable limits. AI also has the potential to transform communities into super smart Society 5.0. So it will be very easy if you can make AI a tool for creators and engineers as well as critical, innovative and creative in opening up business opportunities and developing them. In Islam, the world and everything in it are intended for humans, (Q.S. Al-Baqarah, 2: 29). Therefore, it is very possible if the existing opportunities can be realized of course by utilizing science and technology. So, the Society 5.0 era and the Industrial 4.0 era which means the concept of a human-centred (anthropocentric) and technology-based society as well as a concept of solving social problems through a balance of economic progress and solving social problems by using a system that integrates physical space and virtual space while simultaneously prepare human resources to face the challenges of this era through the implementation of Strategic Human Resource Management. The implementation of the HR Strategy in question is the implementation of strategic values, strategic integration, employees as the most valuable, emphasis on support staff management, strengthening management and employee commitment, effective communication, decentralization for empowerment, flexibility and adaptation, creativity and innovation, and obsession. to quality [25]. Business Opportunities in the Industrial Era 4.0 and Society 5.0 during the New Normal Covid-19 Hysa [18] provide enlightenment related to the use of social media as a potential opportunity for sustainable success in business. According to them, during the global COVID-19 pandemic, intensive marketing efforts and strategies to restore sustainable business opportunities are open. In their research, they argue that social media (SM) can significantly support business promotion by guaranteeing the number and types of competitive products. Although the research in Poland used 397 respondents representing the Baby Boomers (BB) group, as well as Generations X, Y, and Z. So, it is very relevant if the use of SM is also used for business people in Indonesia. Moreover, Indonesia, which has a population of more than 260 million people, is a very large market share for the economy and business.

He noted that internet technology has become an important part and brings major changes in human life, especially in Indonesia. According to the survey results of APJII (Association of Indonesian Internet Service Providers) for the 2019-2020 (Q3) period, each year has experienced a significant achievement, which is 73.7% of the total population. Apart from the negative impact, economically this opportunity is very large for business people as well as digitalbased business opportunities. Even according to that [7] when the Covid-19 pandemic hit Indonesia in 2020, internet users increased, even though they had to stay at home because of the PSBB, Work From Home (WFH) was enforced by increasing social media users. In 2021 even the Industry 4.0 era, which coincided with the condition of society at level 5.0 during the Covid-19 outbreak, was getting crazier with the new wave of the Covid Delta version in July resulting in the socio-economic impact experiencing a downward trend. Based on data from the Ministry of Health, the spread of the Delta version of Covid-19 in the Industrial 4.0 era (Society Revolution 5.0) has increased significantly (Figure 4).

From the picture above, it can be seen that a sharp increase in the confirmed positive for Covid-19 Delta occurred this July even though the government has successfully carried out stage 1 (38,909, 433) and stage 2 (15,611,554) vaccinations. According to Ranjbari, Esfandabadi & Zanetti (2021) that the COVID-19 pandemic is not only happening in Indonesia but almost all countries. The negative impact continues on the economic, social and environmental sectors. Therefore, they concluded that Covid-19 will continue to exist but what must be done after this Covid-19, especially in the development of sustainable development by the United Nations Sustainable Development Goals (SDGs). According to him, several steps need to be taken, such as a sustainability action plan considering the implications of COVID-19: refining sustainability goals and targets and developing a measurement framework; take advantage of opportunities for a sustainable transition after COVID-19, with a focus on SDG 12 and SDG 9, innovative solutions for economic resilience towards post-COVID-19 sustainability, which are focused on SDG 1, SDG 8, and SDG 17, in-depth analysis of the long-term effects of COVID-19 on social sustainability focusing on SDG 4, SDG 5, and SDG 10; and expanding quantitative research to align sustainability research on COVID-19. The offer of Ranjbari, et al., is certainly very meaningful in creating recovery optimism and looking at business opportunities in the Industry 4.0 and Society 5.0 era in the Covid-19 pandemic. Even Di Vaio, Boccia, Landriani & Palladino (2020) in their findings stated that there is an opportunity in this era through the use of artificial intelligence (AI) to provide the agri-food industry, as well as the role of stakeholders in its supply chain. Similarly, regulators can take a proactive role in the creation of business value, according to their environmental awareness. Moreover, in Indonesia as an agricultural country, opportunities are very open, MSMEs in every corner of the village, culinary adornments in residential and rural areas. It’s just a matter of how they are empowered by the adoption of renewable technology by serious study and design through a business model approach.

Conclusion

From the explanation above, business opportunities in the Industry 4.0 and Society 5.0 era during the Covid-19 pandemic depend on the ability of business people to take advantage of situations and conditions into open opportunities. The existence of internet access based on digitalization technology and artificial intelligence (AI) with the use of IoT is the main supporting element in its success in realizing business opportunities. Through big data as a means for promotion and market share that can be connected between regions, countries and continents, it can be used as a large and broad market share. Paid and free software as a novice business person can be used for its usefulness while improving their soft skills and competencies. Various social media and networks, such as WashCap, Twitter, Youtube, Instagram need to be used as tools for success. Whatever the type of business, starting from culinary, MSMEs, transportation, and other services, as well as various kinds and variety of businesses, they must be innovative, creative and productive. And, policymakers must support and encourage these business actors by providing legal, political and environmental security that is conducive to the growth and development of businesspeople in the Industry 4.0 and Society 5.0 era, especially during the Covid-19 pandemic, especially micro-business players, small and medium enterprises (MSMEs).

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