A Study of MSMEs Business Sustainability Strategies: Transforming Towards Industry 4.0

The purpose of this study is to analyze the business sustainability strategies of Micro, Small, and Medium Enterprises (MSMEs) in the context of Industry 4.0. As digital transformation progresses, MSMEs face significant challenges, particularly due to limited resources and access to advanced technology. This study aims to explore these challenges and identify effective strategies that can be adopted by MSMEs to thrive in a rapidly changing environment. Research methods include a bibliometric analysis of 104 articles published from 2019 to 2023, focusing on key issues and strategies adopted by MSMEs across various countries. The analysis reveals that MSMEs often struggle to leverage Industry 4.0 technologies due to financial and knowledge constraints. However, digitalization presents significant potential for enhancing operational efficiency and competitiveness if appropriate strategies are implemented. The research result indicates that successful MSMEs have incorporated sustainable business strategies that leverage digital innovation to overcome challenges related to resource optimization and collaboration. Furthermore, the study highlights existing gaps in the literature, particularly regarding long-term studies and the practical implementation of Industry 4.0 technologies. Conclusion: This research provides practical recommendations for policymakers and MSME practitioners, emphasizing the importance of tailored strategies to enhance sustainability and competitiveness in the face of ongoing digital transformation. By adopting these strategies, MSMEs can position themselves more effectively in the evolving market landscape, contributing to broader economic growth.