A system-based approach to value prioritization in industry 5.0 for sustainable value creation

This study aims to prioritize the concept of value in the context of Industry 5.0, emphasizing a shift from traditional efficiency metrics to a focus on interconnected value dimensions. The primary objective is to explore how the evolution of value perspectives through industrial revolutions has influenced the strategic direction of Industry 5.0. A systematic approach was adopted, combining an extensive literature review, content analysis, and Interpretive Structural Modeling (ISM). This methodology was employed to create a strategic roadmap and a value model that elucidates the interrelationships among the core components of value in Industry 5.0. The study finds that the concept of value has undergone significant transformations across industrial eras, culminating in Industry 5.0, which presents a distinct and human-centric definition. The research identifies critical value dimensions that interconnect human welfare, sustainability, and technological progress. Through ISM, the study outlines how these elements interact and influence industrial practices, offering a fresh perspective on value prioritization. The findings offer valuable insights for policymakers, businesses, and organizations to realign their strategies and activities with the evolving values of Industry 5.0. Emphasizing human-centric technology and sustainability, the study provides actionable guidelines to enhance performance and ensure that organizational goals contribute to the broader objectives of Industry 5.0. This research introduces a novel perspective by integrating humanities and a systems-based outlook in understanding the role of value in industrial and social development. It highlights the transformative impact of Industry 5.0, marking a significant departure from previous industrial paradigms. The study’s originality lies in its comprehensive approach to prioritizing value dimensions and its potential to guide both academic research and industrial practices.