Management and Society 5.0

Abstract

While technology and digital transformation are developing, today’s society is rapidly changing. In this context, current management and strategies are becoming outdated, which raises the need to adapt to new challenges and keep pace with innovation. One option that seeks to bring new solutions is the concept of Society 5.0 which combines technological progress and sustainable development, and attempts to achieve a balance between them, ensuring the well-being of all members of society. Society 5.0 emphasises the creation of socially beneficial solutions, human needs, and improving the quality of life, not just economic growth. Successful implementation of this concept requires quality management that is open to new mindsets, strategies, and approaches to management with a focus on sustainability, innovation, and collaboration. In Industry 5.0, success depends more than ever on management’s ability to understand and address the challenges posed by new technologies. Therefore, it is necessary to think about the key skills and capabilities that a manager should have in order to successfully manage an organisation in the context of Society 5.0. The aim of this paper is to analyse the challenges associated with the management and implementation of the Society 5.0 concept, as well as to identify strengths, weaknesses, opportunities, and threats in this area, and to provide an overview of the key factors for successful management in the context of Society 5.0. In the first part, the theoretical background of this paper will be set, which will be applied for the subsequent analysis. The theoretical part focuses specifically on the definition and description of Society 5.0, and the key elements of this concept. It also focuses on new approaches to management that are key to management in this area, as well as defines the role and importance of SWOT analysis in management and strategic planning. Based on a comparative analysis of relevant sources, the SWOT analysis will be performed in the practical part as a tool for assessing strengths, weaknesses, opportunities, and threats in relation to the new concept of Society 5.0. The results of the analysis will be evaluated, summarised, and finally recommendations will be made. This text will be useful for managers and executives who want to better adapt themselves to the new era of digital transformation and sustainable development.