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Book part
Publication date: 17 May 2024

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International Trade, Economic Crisis and the Sustainable Development Goals
Type: Book
ISBN: 978-1-83753-587-3

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Article
Publication date: 7 May 2024

Morteza Ghobakhloo, Mohammad Iranmanesh, Masood Fathi, Abderahman Rejeb, Behzad Foroughi and Davoud Nikbin

The study seeks to understand the possible opportunities that Industry 5.0 might offer for various aspects of inclusive sustainability. The study aims to discuss existing…

Abstract

Purpose

The study seeks to understand the possible opportunities that Industry 5.0 might offer for various aspects of inclusive sustainability. The study aims to discuss existing perspectives on the classification of Industry 5.0 technologies and their underlying role in materializing the sustainability values of this agenda.

Design/methodology/approach

The study systematically reviewed Industry 5.0 literature based on the PRISMA protocol. The study further employed a detailed content-centric review of eligible documents and conducted evidence mapping to fulfill the research objectives.

Findings

The advancement of Industry 5.0 is currently underway, with noteworthy initial contributions enriching its knowledge base. Although a unanimous definition remains lacking, diverse viewpoints emerge concerning the recognition of fundamental technologies and the potential for yielding sustainable outcomes. The expected contribution of Industry 5.0 to sustainability varies significantly depending on the context and the nature of underlying technologies.

Practical implications

Industry 5.0 holds the potential for advancing sustainability at both the firm and supply chain levels. It is envisioned to contribute proportionately to the three sustainability dimensions. However, the current discourse primarily dwells in theoretical and conceptual domains, lacking empirical exploration of its practical implications.

Originality/value

This study comprehensively explores diverse perspectives on Industry 5.0 technologies and their potential contributions to economic, environmental and social sustainability. Despite its promise, the practical evidence supporting the effectiveness of Industry 5.0 remains limited. Certain conditions are necessary to realize the benefits of Industry 5.0 fully, yet the mechanisms behind these conditions require further investigation. In this regard, the study suggests several potential areas for future research.

Details

Asia-Pacific Journal of Business Administration, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1757-4323

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