University of Dokuz Eylul, Department of Business

IBS 4153 CURRENT ISSUES IN INTERNATIONAL BUSINESS

Industry 4.0 and Industry 5.0: The New Business Revolution and Wave of Industrial

Digitization& The Pandemic Outbreak & The Era of Post-covid 19: The Changing landscape of

Global Business Climate, Big Shifts, and Uncertainties

Nazmi ÖZSOY 2019434071

Research Associate Dr. Ayça Kübra HIZARCI

March 21, 2024

Industry 4.0 & Industry 5.0 & Pandemic
The COVID-19 pandemic challenged traditional business models, forcing businesses to
rapidly digitalize, accelerated the technological advances of Industry 4.0, and highlighted the
human-centered and sustainable approach of Industry 5.0. During the pandemic, the spread of
applications such as remote working helped businesses turn more to digital technologies and
adopt human-centered approaches. During this change process, businesses need to strengthen the
skills of their employees and focus on issues such as data privacy and security. In conclusion, the
pandemic highlights the need for businesses to embrace technology and adopt a human-centered
approach as industrial transformation accelerates.

Industry 4.0 & Pandemic

Industry 4.0 has played a fundamental role in the post-pandemic business world, not only
increasing the resilience of businesses but also enabling them to become more flexible and
adaptive. During the pandemic, the features of Industry 4.0 have provided businesses with
valuable tools to cope with crises and ensure business continuity. For example, technologies such
as remote working and digital meeting platforms have helped businesses maintain operations and
protect the safety of their employees. In addition, automation and robotic systems have made it
easier to implement social distance measures in workplaces by reducing physical contact and
allowing production processes to continue uninterrupted. However, the role of Industry 4.0
during the pandemic period was not limited to the internal functioning of businesses. It was also
effective in critical areas such as supply chain management. Real-time data sharing and digital
supply chain management enabled tracking of supplier sources and optimization of logistics
processes, thus helping to minimize supply chain disruptions. This important role of Industry 4.0
in the pandemic process increased the interest of businesses in digital transformation and
encouraged them to invest more. However, there are a few important issues that businesses
should pay attention to in this process. For example, in addition to issues such as data security
and privacy, protecting digital endpoints is also critical. It is also important for Industry 4.0 to
maintain the balance between humans and machines and not to ignore the human factor. As a
result, seeing that Industry 4.0 is of critical importance for businesses during the pandemic period
emphasizes that digital transformation is not only a luxury but also a necessity.

Industry 5.0 & Pandemic

Industry 5.0 complements the technological advances of Industry 4.0 and adopts a human-
oriented and sustainable production approach. This approach provides an ideal framework to
offer solutions to the challenges faced by businesses during the pandemic. First of all, the welfare
of society and the environment, emphasized by Industry 5.0, comes to the fore with the
environmental effects of the pandemic and the increasing importance of social responsibility.
While sustainable practices have become critical for businesses in areas such as waste reduction,
energy efficiency and carbon footprint reduction, the pandemic process has encouraged greater
focus on this aspect. Additionally, Industry 5.0's human-machine collaboration approach enables
businesses to be more flexible and adaptive after the pandemic. Remote working is an example of
this collaboration; Businesses benefit from the principles and technologies of Industry 5.0 to
make remote working more efficient and empower their employees. The pandemic also supports
the trend of businesses shifting to local and near-shore production models to increase resilience.
The risks posed by disruptions in supply chains and logistical challenges emphasize the
importance of Industry 5.0's resilient production approach.

During the pandemic, the explosion of e-commerce shows the importance of Industry 5.0
and digital presence. Businesses are driven to invest in strengthening their online presence and
becoming more active on digital platforms. The proliferation of remote working supports the
principle of human-machine collaboration and flexibility emphasized by Industry 5.0. By
investing in technologies that facilitate remote working, businesses increase the well-being and
productivity of their employees. In addition, companies that develop innovative solutions by
adapting their business models during the pandemic period emphasize the agility and adaptation
principles of Industry 5.0. This process encourages businesses to adopt a more flexible,
innovative and people-oriented approach. As a result, the pandemic makes the values and
principles of Industry 5.0 more important for businesses, encouraging further progress in areas
such as digital transformation and sustainable production. For starting a business post-pandemic
to be successful, it is important to embrace the core values of Industry 5.0. These values enable
businesses to operate in a more people-oriented, sustainable and resilient way. At this point, there
are a few important strategies that businesses should pay attention to. These include investing in
digital infrastructure, adopting a global mindset, prioritizing sustainability and being innovative.
As a result, it is important to embrace the core values of Industry 5.0 to build a business and
thrive post-pandemic. These values can help businesses become more resilient to crises by
enabling them to operate in a more people-oriented, sustainable and resilient way.

As a result, while the COVID-19 pandemic has forced businesses to rapidly digitalize, the
technological advances of Industry 4.0 and the human-centered approach of Industry 5.0 have
enabled businesses to be more resilient to crises. In the post-pandemic era, businesses need to
adopt the core values of Industry 5.0 to be successful. These values enable businesses to
accelerate digital transformation as well as focus on important issues such as sustainability and
innovation. As a result, it is vital for businesses to act in accordance with the principles of
Industry 5.0 in order to be successful after the pandemic.
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View of “A study of Business Strategies in a changing Environment - Post Covid- 19.” (n.d.).

https://archives.palarch.nl/index.php/jae/article/view/8421/7863