Coping With Innovation in the 4th Industrial Revolution, FE-UT Held ISBEST 2018

Jakarta, 5 December 2018 – The technology development in order to support the 4th industrial revolution or Industry 4.0 significantly affects on business sector, customer expectation, product improvement, and collaborative innovation. It has posed some innovation disruption which creates new market networks and values. As a consequence, it is necessary to establish new collaboration for the innovation and disruption in various sectors, and one of which is economic society in order to retest sustainable business methods and innovations.

Indonesia Open University or Universitas Terbuka through its School of Economics (FE-UT) held the International Seminar on Business, Economics, Social Science and Technology (ISBEST) 2018 with the theme "Collaborative Innovation of Economic Society in the Era of the Fourth Industrial Revolution (Industry 4.0)" at the Century Park Hotel, Jakarta, Indonesia. The Chairman of ISBEST Committee, Amalia Kusuma Wardani, S.E., M.Com., Ph.D., in her speech, hopes that this seminar would be able to open constructive discussions and in addition, it is also expected that it can serve as the forum for exchanging ideas in coping with the era 4.0.

The event, which was attended by Deputy Chairman of the Coordinating Ministry of Economics of the Republic of Indonesia for Creative Economics, Entrepreneurship and Competitiveness of Cooperative, Small and Medium Enterprises, Dr. Ir. Mohammad Rudy Salahuddin, MEM., as well as Director of State Finance Polytechnic University-STAN, Rahmadi Murwanto, Ak., M.Acc., Ph.D., has successfully engaged 150 paper presenters consisting of academicians, researchers, practitioners and university students in various sectors, such as economics, accounting and management, as well as various academic disciplines related to e-learning, information, communication and technology, and other social science. Furthermore, during the panel discussions, the participants had the opportunity to present and discuss their papers on the research or study that they had conducted, and they also received feedbacks from other participants.

This seminar was officially opened by the President of Indonesia Open University who was at the occasion represented by the Deputy President for Finance and General Affairs, Drs. Moh. Muzammil, M.M., together with the Dean of School of Economics of Indonesia Open University (FE-UT), Dr. Ali Muktiyanto. Moh. Muzammil, in his speech, said that the Industry 4.0 has given such significant impact to the technology development, which requires the innovation of the new technology that can make changes on product and services as well as can add the values of a product. Meanwhile, the Director of State Finance Polytechnic University-STAN, Rahmadi Murwanto presented a few explanations on the strategy in dealing with the industry 4.0. He conveyed that we need to possess the ability to adopt, collaborate, and compete in developing innovations.

Deputy Chairman of the Coordinating Ministry of Economics of the Republic of Indonesia for Creative Economics, Entrepreneurship and Competitiveness of Cooperative, Small and Medium Enterprises, Dr. Ir. Mohammad Rudy Salahuddin, MEM., underlined that the society needs to utilize digital technology thoughtfully and wisely so that they can take such good opportunity in fashionable way in order to improve self-capacity building and make some innovation. In addition to that, he also invited the participants to involve actively in boosting the national economics and competitiveness.

Three experts made their presentations in the course of the program during the panel discussion from different academic disciplines, consisting of Prof. David Holloway, B.Com., M.B.A., Ph.D. Emeritus, Professor of the School of Management and Governance, Murdoch University, Australia; Prof. Zahirul Hoque, B.Com., M.Com., Ph.D., FDMA, FCPA, Professor of Business School, La Trobe University, Australia, and Prof. Dr. M. Niaz Asadullah, D.Phil., FRSA, Professor of the Development Economics in the Faculty of Economics and Business Administration University of Malaya, Malaysia.