Driving Business Success: Unraveling the Fourth Industrial Revolution and Competitive Strategies in ASEAN Economies

Abstract

Ease of doing business and effective management practices are significant growth drivers. It is long recognized that technological innovation and competitiveness are leading factors that impact activities related to the management of business processes. For this purpose, we study the effect of Industry 4.0 and competitiveness on ease of doing business and management practices in ASEAN countries. Components of comprehensive development index” developed by the author from secondary data collected from the World Economic Forum and World Development Indicators (WDI) from 2010 to 2019. The researchers used the Generalized Method of Moments (GMM) and the Random Effects to assess the relationships among these variables. The results indicate a positive and significant relationship between Industry 4.0—measured by medium- and high-technology industries and exports—and competitiveness, as reflected in the global competitiveness index, with the ease of doing business in ASEAN countries. These findings offer important insights for policymakers in formulating strategies for ease of doing business, Industry 4.0, and competitiveness.