Conceptual basis of strategic development of enterprises under the emergence of industry 5.0
Year: 2024
Type: article
Abstract: The article examines the conceptual principles of strategic development of enterprises in the conditions of the formation of Industry 5.0. Industry 5.0 is the next stage of industrial development, which combines the achievements of the fourth industrial revolution with human-centered, stable, and sustainable principles. The main challenge for enterprises is a harmonious combination of technological innovations and socio-economic needs. The study’s relevance is determined by the need for enterprises to adapt to new conditions dictated by the emergence of Industry 5.0. Traditional approaches to strategic development are losing their effectiveness in today’s digital transformation, intelligent automation, and a human-centric approach. In this connection, there is a need for new approaches to the strategic development of enterprises. The main challenges and opportunities facing modern enterprises in the context of digital transformation, intelligent automation, and a human-centric approach have been identified. The key directions of forming enterprise development strategies, which are based on sustainable development, innovation, and adaptability principles, are substantiated. A strategic management model that considers the synergy of technological innovations and socio-economic factors is proposed. The emergence of Industry 5.0 requires enterprises to adopt new approaches to strategic management focused on the synergy of technological progress, social responsibility, and sustainable development. Successful enterprises of the future will be those that can respond flexibly to challenges, effectively integrate digital technologies, and create value for society. The study’s results indicate that enterprises’ strategic development in Industry 5.0 should be based on integrating digital technologies, adaptive management, and orientation towards sustainable development. The proposed management model allows enterprises to increase work efficiency, ensure competitive advantages, and adapt to changes in the external environment. It is recommended that enterprises intensify investments in digitization, develop personnel potential in high technologies, and use analytical tools to monitor strategic development. Keywords: Industry 5.0, strategic development, digital transformation, sustainable development, innovation, entrepreneurship, enterprise management, strategic development management, enterprise.
Author: Volodymyr Belinskyi
Language: English
Subfield: Industrial and Manufacturing Engineering
Field: Engineering
Domain: Physical Sciences
Open Access status: bronze
OpenAlex ID: W4411964656