Search results

The world is changing fast and pace of changes that are being observed since start of the twenty-first century have never been observed before. Due to such changes and their impact, world is described in terms of Volatile, Uncertain, Complex and Ambiguous (VUCA). The trend of industry 4.0 is also said to be an another contributing factor into the VUCA environment. The VUCA creates a lot of challenges for organization from the perspective of management and leadership. Both business and leadership agility are needed more than VUCA as the VUCA world is becoming old. Therefore, the purpose of this research is to review the literature and to summarize the understanding with regard to managing VUCA-RR world in an era of Industry 4.0. Since the advent of term VUCA, many researchers have provided theoretical model and framework to guide managers regarding to their action and strategies. But, current research postulates based upon the literature that agile management’s tools and techniques are highly effective in managing the situation of VUCA-RR in the era of Industry 4.0. The research concludes that Industry 4.0 together with VUCA-RR and indecently possess to change management challenges to organizations. The organization can be in better position to manage change management challenges posed by Industry 4.0 by implementing the agile management. The Industry 4.0 will latter compliment to agile management tools and techniques which will make any organization to become a better equipped to face the VUCA-RR world. The research has also concluded that agile management powered by Industry 4.0 enabling technologies presents enormous opportunity in the form of VUCA 2.0 (Vision, Understanding, Courage, Adoptability, Rapidity and Radicality) that can be used to square off the effect of VUCA-RR world.

The future will see a new revolution in both industry and society in Industry 5.0. Human–robot collaboration and robotic management will be critical components of Industry 5.0. In this revolution, humans and robots will collaborate to improve process efficiency by utilizing human intelligence and innovation. Industry 5.0 creates a powerful framework for modern digital smart factories and manufacturing technologies through complex systems, and it is constructed to interact with powerful computing power, to solve complex problems more efficiently and with less human intervention in this Volatile, Uncertain, Complex, Ambiguous, Radicality, and Rapidity (VUCA-RR) world. To overcome VUCA-RR world, Industry 5.0 involves a combination of human and robotic systems for sustainable development. Managers, practitioners, researchers, and educators are scrambling to understand and implement the method as well as to find best practices toward Industry 5.0. This chapter will draw attention to research and practice topics in the VUCA-RR and business agility development methodology in perspective of Industry 5.0.

We investigated the relationship between personality and managerial assessment center (AC) dimensions, emphasizing age’s moderating role within volatility, uncertainty, complexity, ambiguity (VUCA) simulations.

We analyzed 327 managers and applied the AC method, examining areas like social skills, problem-solving, management and goal striving, openness to change, employee development using the VUCA framework.

We assessed personality metatraits through a questionnaire based on the circumplex model (CPM; Strus, Cieciuch, & Rowinski, 2014), identifying four bipolar metatraits. Results highlighted passiveness and disharmony as negatively correlated with all managerial AC dimensions, with passiveness adversely affecting social skills and problem-solving.

Age’s moderating role emerged as pivotal in the relationship between personality and managerial AC dimensions, especially in specific VUCA contexts. This underscores age’s influence on the interplay between personality and managerial efficacy, suggesting varying predictive capabilities across age groups. The research illuminates the complexities of these relationships, spotlighting age’s nuanced impact.

With the rapid development of technology in the era of digitalization, Industry 4.0 has become a reference for R&D studies in various sectors. The rapid development of technology makes the life of societies and people easier. For this reason, governments tend to develop their technologies and to encourage organizations in this field for this purpose. The concept of Industry 5.0 or Society 5.0 explains the revolution in people's lives with the development of the Fourth Industrial Revolution. Today, many interrelated factors are rapidly preparing people for a complex and volatile future. This situation is accepted as the “new normal” and is defined as VUCA-RR (Volatility, Uncertainty, Complexity, Ambiguity, Rapidity, Radicality). Variability refers to the increasing pace of change, uncertainty, unpredictability in life. Complexity indicates difficulties in relationships in life, and ambiguity indicates difficulties in understanding the events around us. The advancement and widespread use of digital technologies will enable organizations to develop sustainable strategies by providing them with the opportunity to grow by achieving sustainable competitiveness and profit in the VUCA-RR environment.

In this chapter, the author delves deeper into adaptive and sustainability challenges, specifically discussing the roles of management and leadership in addressing these problems. Both responsible leadership and management are essential for tackling sustainability challenges. Leadership focuses on establishing a vision and inspiring others to attain it, while management is concerned with devising and executing strategies to realize that vision. Addressing wicked problems necessitates collaboration, engagement and innovative solutions, involving both leadership and management. To effectively conquer sustainability challenges, organizations must embrace a more holistic and sustainable approach to management and leadership. This might include collaborating with stakeholders to discover innovative solutions that prioritize sustainability and social responsibility. Resolving wicked problems calls for a distinct management and leadership approach that is cooperative, systemic, and sustainable.

This study aims to evaluate the potential of using the components of the quadruple helix and quintuple helix models, which are extensions of the triple helix university-private sector-public sector cooperation model. Thus, the triple helix model shaped by university-private-public sector cooperation has transformed into a quadruple helix innovation model with the inclusion of the media and culture-oriented public helix. In this context, while the triple helix emphasizes tripartite networks and hybrid organizations, the quadruple helix system focuses on intertwined collaborations, coevolution, and specialization within the framework of firms, institutions, and stakeholders. In the quadruple helix innovation system, the coevolution of art and innovation has assumed a central role in knowledge generation and innovation. In the quintuple helix innovation model, the natural environment of society is added to the quadruple helix. This study consists of three parts. In the first part, the literature on triple helix, quadruple helix, and quintuple helix models is reviewed. In the second part, digital transformation and technological innovations from Industrial Revolution 1.0 to Industry 5.0 are analyzed. In the third section, the contribution of the quintuple helix model to Industry 5.0 and Society 5.0 is explained.

Customers today expect businesses to cater to their individual needs by tailoring the products they purchase to their own preferences. The term “Industry 5.0” refers to a new wave of manufacturing that aims to meet each customer's unique demands. Even while Industry 4.0 allowed for mass customization, that wasn't good enough before, customers today demand individualized products at scale, and Industry 5.0 is driving the transition from mass customization to mass personalization to meet these demands. It caters to the individual needs of each consumer by meeting their demands. More specialized components for use in medicine are made possible by the widespread customization made possible by Industry 5.0. These individualized parts are included into the medical care of the patient to meet their specific needs and preferences. In the current medical revolution, an enabling technology of Industry 5.0 can produce medical implants, artificial organs, bodily fluids, and transplants with pinpoint accuracy. With the advent of AI-enabled sensors, we now live in a world where data can be swiftly analyzed. Machines may be programmed to make complex choices on the fly. In the medical field, these innovations allow for exact measurement and monitoring of human body variables according to the individual's needs. They aid in monitoring the body's response to training for peak performance. It allows for the digital dissemination of accurate healthcare data networks. In order to collect and exchange relevant patient data, every equipment is online.