Managing the Transition Process to Society 5.0

Abstract

Research Question: In this paper, the processes that characterize the transition process to Society 5.0 are analysed. Motivation: The wide application of Industry 4.0 technologies has positively affected the economic aspects of conducting business. However, issues arise in the social and ecological aspects. Overcoming these challenges is not an easy task for both enterprises and countries as well. Multiple processes across multiple industries take place that pave the way towards a new business and social paradigm – Society 5.0. The main goal was to determine what processes characterize the transition to Society 5.0 and how managing some of these processes can affect the transition. Additionally, the role of managers in Society 5.0 is discussed. This is important, as the number of studies that address this subject in this manner is small. The motivation is to expand the existing body of literature in this domain. Idea: The main idea was to conduct a systematic review of studies regarding Society 5.0 from various aspects. Based on the findings, the role of managers is investigated. In addition, a theoretical model of the transition process is developed.  Data: For this review study, 54 papers from credible sources were qualitatively analysed. The papers refer to Society 5.0 in various domains (sustainability, business, environment, ICTs, education, technology, data, Industry 4.0, Industry 5.0 etc.). Tools: The well-established PRISMA protocol was used for the review process. The findings were noted and labelled for easier development of the theoretical model. Findings: The findings and the developed model indicate the imperative role of managers across all industries for organic and sustainable results that come from the transition processes. Managers must embrace change and thrive towards the concept of Society 5.0 when it comes to conducting business. Contribution: The results of the review contribute to the existing body of literature, as there are few studies that address Society 5.0 in this manner.