From Industry 4.0 to Industry 5.0—An Overview of European Union Enterprises

Alexa, Lidia; Pîslaru, Marius; Avasilcăi, Silvia

doi:10.1007/978-981-16-7365-8_8

Cited by 19 publications

(7 citation statements)

References 18 publications

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“…Another study was conducted to affirm the importance of i5.0 with respect to overall firm performance (Ghobakhloo et al, 2022). A study showed the significance of i5.0 in the organizations' business strategy (Alexa et al, 2022). However, a few studies revealed the influence of industry 5.0 concerning the sustainable performance of Agri‐enterprises which is the core intention of this study.…”

Section: Literature Reviewmentioning

confidence: 99%

Does industry 5.0 model optimize sustainable performance of Agri‐enterprises? Real‐time investigation from the realm of stakeholder theory and domain

Sun

Warraich

et al. 2023

Sustainable Development

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The research on Industry 5.0 (i5.0) is relatively new and emerging therefore professionals are still striving to reveal its influence globally. This study investigates the impact of industry 5.0 to comprehend the insights into how it optimizes the sustainable performance (STP) within three core streams, that is, economic, environmental, and social perspectives from the realm of stakeholder theory within the Chinese agricultural industry. The results stated that i5.0 positively affects the STP of Agri-enterprises. The empirical testing additionally affirmed the positive nexus of i5.0 practices toward each dimension of STP such as social, environmental, and economic perspectives based on structural equation modeling. First, it found that i5.0 has a positive correlation with the economic perspective. Second, the findings affirmed the positive linkage between i5.0 and the social perspective. Finally, the study indicated a significant correlation between i5.0 and the environmental perspective. This study provides real-time empirical evidence for the management of Agri-enterprises regarding i5.0 and insights into the embodiment of such capabilities to optimize enterprise STP by incorporating i5.0 model. This study presents several theoretical and managerial enrichments for Agri-enterprises along with future avenues for the researchers to test the i5.0 capabilities toward rest of the sectors across the world.

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Section: Literature Reviewmentioning

confidence: 99%

Does industry 5.0 model optimize sustainable performance of Agri‐enterprises? Real‐time investigation from the realm of stakeholder theory and domain

Sun

Warraich

et al. 2023

Sustainable Development

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show abstract

“…Vertical integration denotes connecting and integrating all micro‐components of an organization, establishing seamless data interchange across various business units, from warehousing to smart production systems (Tabim et al, 2021). While the enabling role of vertical integration remains unchanged for Industry 5.0, the scope and implication of horizontal integration extend to stakeholder integration under this phenomenon (Alexa et al, 2022). Contrary to Industry 4.0 that focuses on horizontal integration of all supply chain modules, Industry 5.0 entails the horizontal integration of the underlying smart components and stakeholders for a given value network, including smart business units (e.g., adaptive smart factories), customers, distributors, suppliers, technology providers, government bodies, local communities, and labor unions (Akundi et al, 2022; Renda et al, 2022).…”

Section: Methodsmentioning

confidence: 99%

“…The business ecosystems of Industry 5.0 comprise many components, given that the digital transformational scope of this phenomenon expands beyond corporations (Alexa et al, 2022). The components of Industry 5.0 would be unique to the particular industrial contexts (Bulc et al, 2022; Martos et al, 2021).…”

Section: Literature Reviewmentioning

confidence: 99%

Actions and approaches for enabling Industry 5.0‐driven sustainable industrial transformation: A strategy roadmap

Ghobakhloo

Iranmanesh

Morales

et al. 2022

Corp Soc Responsibility Env

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Although Industry 4.0 was believed to promote sustainable development, it has ignored or misunderstood many prevailing sustainability concerns, which led to the emergence of the Industry 5.0 agenda. While the desirable sustainability values of Industry 5.0 are widely acknowledged, the knowledge of how this agenda can deliver sustainable transformation is lacking. The present study addresses this knowledge gap, explaining how Industry 5.0 transformation should be managed to facilitate sustainable development. Therefore, this study strives to model the underlying mechanism for enabling such transformation. The study conducted a content-centric review of the literature and identified 11 actions and approaches that serve as enablers of Industry 5.0 transformation. The study further conducted the interpretive structural modeling and structured the enablers as an interpretive model explaining steps needed for enabling Industry 5.0. Finally, the study developed the strategy roadmap for enabling Industry 5.0 transformation and sustainable development.Results emphasized stakeholder salience, highlighting the enabling role of stakeholder integration and collaboration in Industry 5.0 transformation. Proactive governmental support is the most driving enabler of Industry 5.0, whereas ecoinnovation and sustainable value network reformation are among the most complex and hard-to-develop enablers. Results offer several implications for policymakers and practitioners, explaining the functionality of each approach and strategy necessary for Industry 5.0 transformation. The roadmap determines the sequential relationships among these approaches and strategies and identifies their optimal development sequence for enabling Industry 5.0 transformation synergistically. Results further identify the codependences among the Industry 5.0 transition enablers and highlight their interactions and complementarities.

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“…The so-called fourth industrial revolution is, in fact, the result of a convergence and integration of multiple information and communication technologies (Camarinha-Matos et al, 2019) (Zheng et al, 2021) (Alexa et al, 2022). Although initially focused on the integration of the cyber and physical worlds, as reflected in the terms "Cyber-Physical Systems" and "Internet of Things", soon the idea was gradually expanded by the addition of "smartness"/"intelligence" facets, as reflected in the terms "smart devices", "smart sensors", "smart machines", "smart systems", and "smart factories".…”

Section: Introductionmentioning

confidence: 99%

Grand challenges in industrial informatics

Camarinha-Matos

2023

Front. Ind. Eng.

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From Industry 4.0 to Industry 5.0—An Overview of European Union Enterprises

Cited by 19 publications

References 18 publications

Does industry 5.0 model optimize sustainable performance of Agri‐enterprises? Real‐time investigation from the realm of stakeholder theory and domain

Does industry 5.0 model optimize sustainable performance of Agri‐enterprises? Real‐time investigation from the realm of stakeholder theory and domain

Actions and approaches for enabling Industry 5.0‐driven sustainable industrial transformation: A strategy roadmap

Grand challenges in industrial informatics

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