The statement that the new era of business and management is based on Industrial Revolution $4\mathrm{.}0$ and technology is not entirely accurate. While Industrial Revolution $4\mathrm{.}0$ and technology certainly play a significant role in shaping the current era of business and management, there are other factors and influences that also need to be considered.

Industrial Revolution $4\mathrm{.}0$ refers to the fourth major phase of the industrial revolution, characterized by the integration of advanced technologies, such as artificial intelligence, robotics, the Internet of Things, and big data analytics, into the manufacturing process. This has led to a significant transformation in the way goods are produced, with increased automation, improved efficiency, and enhanced product quality.

Technology has also had a profound impact on business and management practices, enabling new ways of working, collaborating, and making decisions. The widespread adoption of digital technologies has led to increased efficiency, productivity, and innovation, as well as changes in the way organizations are structured and managed.

However, it's important to note that the impact of Industrial Revolution $4\mathrm{.}0$ and technology is not evenly distributed across all industries and regions. Some industries and countries are more advanced in adopting and integrating these technologies than others, and the pace of change can vary significantly.

Moreover, while technology has enabled new opportunities and efficiencies, it has also created new challenges and risks, such as cybersecurity threats, data privacy concerns, and the potential for job displacement. These issues require careful management and regulation to ensure that the benefits of technology are maximized while the risks are minimized.

Final answer: In conclusion, the statement that the new era of business and management is based solely on Industrial Revolution $4\mathrm{.}0$ and technology is an oversimplification. While these factors are certainly significant, other factors, such as cultural and societal changes, regulatory environments, and the changing nature of customer preferences, also play an important role in shaping the current era of business and management.