WEEK 3 CASE STUDY

How to adapt to the Society 5.0 and its development, include learning and developing some essential entrepreneurial skill?

Ferdinand Taslim (TP072735)

Society 5.0 presents many new challenges. To adapt to society 5.0, we need to be always open to new ideas and skills. Digital world and everyday life are blending, and digital literacy is a critical factor in understanding and adapting to the new society. The concept of Society 5.0 necessitates a reevaluation of two types of connections: the interaction between technology and society, and the technology-facilitated connection between individuals and society (Deguchi et al., 2020).

Entrepreneurs are the drivers of change in Society 5.0. They need vision, creativity, and a willingness to take risks. Entrepreneurship programs can help nurture these skills. Diversity and inclusivity are also vital. Embracing different perspectives and backgrounds sparks innovation and allows people to keep up in the economical based world.

By supporting entrepreneurs and creating an environment where innovation thrives, Society 5.0 can tap into the amazing power of entrepreneurship to build a future where technology makes life better for everyone.

Jovan Richaldy Chandra (TP071536)

Society 5.0 is a human based society where technological advancements such as Artificial Intelligence, Internet of Things, Big Data, and robotics engineering. People's lives are improved by this technology and make their life easier. In today's job market, many professionals require a set of entrepreneurial skills (ES) to achieve success (Jardim, 2021). Individuals have to learn a wide range of talents, such as entrepreneurial skills, to prosper in a setting where innovation and digital transformation are the driving forces. These are some entrepreneur skills to adapt within society 5.0 :

• Enhance Your Capabilities in Communication. Working with diverse teams, presenting ideas to investors, and engaging with customers all require effective communication.
• Accept Creativity and Innovation. Creativity and innovation are valued in Society 5.0. Instill in yourself and your team a culture of experimenting, curiosity, and taking calculated risks.
• Promote networking and collaboration. Build a solid network of experts, collaborators, and mentors who can offer support, guidance, and opportunities.
• Developing the ability to solve problems. In Society 5.0, entrepreneurs need to be adept at identifying problems and coming up with creative fixes. Develop your flexibility, creativity, and critical thinking skills to deal with complex problems in an efficient manner.
• Assess Market Dynamics. Gain a deep understanding of market trends, industry competition, and customer desires.

Rafael John (TP072612)

Entrepreneurial skills are vital in Society 5.0 because they humanize progress. In this era, where technology often dominates discussions, entrepreneurship brings back the human touch. It's about individuals identifying problems and crafting solutions that resonate with real human needs and desires.

Entrepreneurs in Society 5.0 aren't just focused on profits; they're passionate about making a positive impact on society. They empathize with people's struggles, aspirations, and dreams, channeling this understanding into innovative products and services that truly make a difference in people's lives.

Entrepreneurial skills begin with innovation sparked by personal factors and environmental factors. Personal factors that influence entrepreneurship are education, experience, commitment, vision, the courage to take risks, and age (Sariwulam, 2020). 

In this human-centric approach, entrepreneurship becomes a force for social cohesion and inclusivity, bridging gaps and bringing people together. Whether it's through job creation, community engagement, or fostering a sense of belonging, entrepreneurial endeavors in Society 5.0 promote human connection and collective progress.

Ultimately, entrepreneurial skills humanize the relentless march of progress, ensuring that technological advancements serve to uplift and enrich the lives of individuals and communities in Society 5.0.

Marcello Irawan (TP072752)

Lately, entrepreneurship has emerged as a highly significant tool in fostering sustainable economic growth. It aids in diminishing unemployment rates, generates employment prospects, and supports government efforts in bolstering economic expansion (Shahzad et al., 2021).

In light of Society 5.0, we need to acquire certain knowledge and certain really crucial talents. We must first adapt to the changing times. We need to become more technologically literate in order to live in the modern world, as a result of advancements like ever-more-sophisticated technology. It is evident that certain vocations necessitate electronic equipment, meaning that everyone must be proficient in using continuously changing technology.

Second, cultivate an understanding of business. This is also crucial because there are a lot of individuals in the globe who are unemployed. We need to learn what we can do to obtain employment and create new positions to aid in the financial stability of others. In this situation, we have to be prepared to step outside of our comfort zone and overcome challenges to reach our desired outcome.

Third, establish relationships. This is crucial in order for your business to expand rapidly when you wish to operate it. In order to support one another in the workplace, relationships or acquaintances are necessary. Company A, which offers delivery services, and company B, which manufactures items, are two examples of this. Even if one is a new business, they might still be advantageous to one another.

The advancement of society 5.0 is mostly dependent on these three techniques, which guarantee that social skills and competencies keep up with the times.

Stanislaus Raymond Soecoko (TP077043)

In Society 5.0, entrepreneurs need to be quick to adapt. They should always be ready to learn new things and come up with fresh ideas. Using technology is important too. Entrepreneurs must know how to use digital tools to make their businesses run smoothly and connect with more people. Entrepreneurship education is expected to play an important part in changing the mindsets of graduates in higher education from job seekers to job creators (Blesia et al., 2019).

But it's not just about technology; it's about people too. Entrepreneurs must work together, collaborating with others to solve big problems and create meaningful solutions. Building strong relationships and supporting each other is key to success.

Resilience is another important quality. Entrepreneurs will face challenges, but it's important to stay strong and keep moving forward. By bouncing back from setbacks and learning from failures, they can grow and succeed.

Lastly, being ethical is essential. Entrepreneurs should do good for society and the environment. By making a positive impact and acting with integrity, they can build trust and make a difference in Society 5.0.

In short, successful entrepreneurs in Society 5.0 need to be adaptable, innovative, collaborative, resilient, and ethical. By embodying these qualities, they can thrive in a world where technology and humanity intersect.

Daniel Kurniadi Khodyat (TP073665)

Fundamentally, entrepreneurship is perceived as a crucial component for equalizing competition in competitive market settings and improving the economic prosperity of nations (Anwar & Abdullah, 2021). In Society 5.0, entrepreneurs have a bright future ahead. With technology becoming increasingly important, they'll play a big role in shaping our lives.

Entrepreneurs will focus more on making things better for people. They'll come up with new ideas and inventions to solve big problems like pollution or inequality.

Working together will be crucial. Entrepreneurs will team up with others to make their ideas even better. By collaborating, they can solve bigger problems and help more people.

Being able to adapt will also be important. Things will change quickly, so entrepreneurs will need to be flexible and able to change their plans fast.

Overall, the future for entrepreneurs in Society 5.0 is about working together, being creative, and making life better for everyone. It's an exciting time with lots of opportunities for those who are ready to take them.

References:

    

    Deguchi, Atsushi & Hirai, Chiaki & Matsuoka, Hideyuki & Nakano, Taku & Oshima, Kohei & Tai, Mitsuharu & Tani, Shigeyuki. (2020). What Is Society 5.0?. 10.1007/978-981-15-2989-4

    Jardim, J. (2021). Entrepreneurial Skills to Be Successful in the global and Digital world: Proposal for a Frame of Reference for Entrepreneurial Education. Education Sciences, 11(7), 356. https://doi.org/10.3390/educsci11070356

    Sariwulan, T., Suparno, S., Disman, D., Ahman, E., & Suwatno, S. (2020). Entrepreneurial performance: The role of literacy and skills. The Journal of Asian Finance, Economics and Business, 7(11), 269-280.

    Shahzad, M. F., Khan, K. I., Saleem, S., & Rashid, T. (2021). What factors affect the entrepreneurial intention to Start-Ups? The role of entrepreneurial skills, propensity to take risks, and innovativeness in open business models. Journal of Open Innovation: Technology, Market, and Complexity, 7(3), 173. https://doi.org/10.3390/joitmc7030173

    Blesia, J. U., Iek, M., Ratang, W., & Hutajulu, H. (2019). Developing an Entrepreneurship Model to Increase Students’ Entrepreneurial Skills: an Action Research Project in a Higher Education Institution in Indonesia. Systemic Practice and Action Research, 34(1), 53–70. https://doi.org/10.1007/s11213-019-09506-8

    Anwar, G., & Abdullah, N. N. (2021). Inspiring future entrepreneurs: The effect of experiential learning on the entrepreneurial intention at higher education. International Journal of English Literature and Social Sciences, 6.