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Industry 4.0 and Green Entrepreneurship for Environmental Sustainability: Exploring Barriers from an Indian SME Perspective

In: Advances in Best-Worst Method

Author

Listed:
  • Himanshu Gupta

    (IIT (ISM) Dhanbad)

  • Sourav Mondal

    (IIT (ISM) Dhanbad)

  • Saumya Singh

    (IIT (ISM) Dhanbad)

  • Manjeet Kharub

    (Institute of Management Technology)

Abstract

Industry 4.0 has been considered a significant conduit for sustainable goods and processes, and green entrepreneurship are being held up as a solution for many social and environmental challenges. However, green entrepreneurs face certain challenges and uncertainty in incorporating digitisation (such as Industry 4.0) in sustainability activities. This article discusses the role and barriers that industry 4.0 and green entrepreneurs confront for environmental sustainability in Small and Medium Enterprises (SMEs). Therefore, we begin with a study identifying barriers based on a case study of SMEs and outline recent contributions exploring this role. Theoretical supports (Resource-Based View (RBV), Natural Resource-Based View (NRBV), and Stakeholder Theory (ST)) are used to support this case study. With expert opinion, multi-criteria decision-making modelling (MCDM), such as the “Best-Worst Method” (BWM), is used to assess and rank the barriers. The findings show that among the main category of barriers are “technology-related barriers”, whereas in the sub-category, “minimal technological resources and lack of technological infrastructure and facilities” are the top barriers to Industry 4.0 and green entrepreneurship on environmental sustainability. We then summarise the papers and conclude with suggestions for further research.

Suggested Citation

  • Himanshu Gupta & Sourav Mondal & Saumya Singh & Manjeet Kharub, 2023. "Industry 4.0 and Green Entrepreneurship for Environmental Sustainability: Exploring Barriers from an Indian SME Perspective," Lecture Notes in Operations Research, in: Jafar Rezaei & Matteo Brunelli & Majid Mohammadi (ed.), Advances in Best-Worst Method, chapter 0, pages 77-108, Springer.
    • Handle: RePEc:spr:lnopch:978-3-031-40328-6_6
    DOI: 10.1007/978-3-031-40328-6_6
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