Technology adoption is always a difficult task for Small and Medium-sized Enterprises (SMEs) due to lack of resources and other market issues. Many technology challenges adversely affect the sustainable business performance of SMEs. However, the incorporation of Industry 4.0 can overcome various technology issues. The goal of Industry 4.0 is to attain an advanced level of operational effectiveness and productivity, as well as a higher level of automatization. Thus, the objective of this study is to identify the role of Industry 4.0 to promote sustainable business performance in SMEs in Thailand. A survey has been prepared to collect the data from managers of SMEs and analyzed with the help of Partial Least Square. The questionnaire was used to collect the data and questionnaires were distributed by using simple random sampling. A total of 500 questionnaires were distributed amongst the managerial staff of SMEs located in Thailand. From these distributed questionnaires, 280 were returned and 270 valid responses were found. Data were analyzed by using Partial Least Square (PLS)-Structural Equation Modeling (SEM). Findings reveal that Industry 4.0 is a key to the growth of sustainable business performance among SMEs. Elements of Industry 4.0 such as big data, Internet of Things and smart factory have a positive role in promoting information technology (IT) implementation, which contributes to sustainable business performance. Moreover, organization structure and process strengthen the positive relationship between Industry 4.0 and IT implementation.

In the postmodern era of industrialization, sustainable business performance is vital for success in a competitive environment. In order to attain sustainable business performance, Malaysian Small and Medium-sized Enterprises (SMEs) are facing various social and technological challenges. The objective of this study was to examine the roles of social and technological challenges in achieving a sustainable competitive advantage and sustainable business performance. To accomplish this objective, first-hand data were collected from Malaysian SMEs. Opinions of managerial staff of these SMEs were preferred regarding the roles of social and technological challenges in achieving a sustainable competitive advantage and sustainable business performance. An email survey was carried out to collect data. A total of 500 questionnaires were distributed among managerial staff of SMEs. Questionnaires were distributed by using simple random sampling. By using structural equation modeling, findings of the study revealed that social and technological challenges played major roles in boosting sustainable competitive advantage and sustainable business performance. Moreover, strategic alignment was a key in reflecting the positive roles of social and technological factors on sustainable competitive advantage. Findings of the study are beneficial for practitioners and will allow their strategies to reflect sustainable competitive advantages and sustainable business performance.