Digital Transformation and Management of VUCA-RR Environments in Perspective of Industry 5.0

Abstract

With the rapid development of technology in the era of digitalization, Industry 4.0 has become a reference for R&D studies in various sectors. The rapid development of technology makes the life of societies and people easier. For this reason, governments tend to develop their technologies and to encourage organizations in this field for this purpose. The concept of Industry 5.0 or Society 5.0 explains the revolution in people's lives with the development of the Fourth Industrial Revolution. Today, many interrelated factors are rapidly preparing people for a complex and volatile future. This situation is accepted as the “new normal” and is defined as VUCA-RR (Volatility, Uncertainty, Complexity, Ambiguity, Rapidity, Radicality). Variability refers to the increasing pace of change, uncertainty, unpredictability in life. Complexity indicates difficulties in relationships in life, and ambiguity indicates difficulties in understanding the events around us. The advancement and widespread use of digital technologies will enable organizations to develop sustainable strategies by providing them with the opportunity to grow by achieving sustainable competitiveness and profit in the VUCA-RR environment.

Citation

Mert, G., Akkaya, B. and Andreea, A.S. (2023), "Digital Transformation and Management of VUCA-RR Environments in Perspective of Industry 5.0", Akkaya, B., Apostu, S.A., Hysa, E. and Panait, M. (Ed.) Digitalization, Sustainable Development, and Industry 5.0, Emerald Publishing Limited, Leeds, pp. 11-24. https://doi.org/10.1108/978-1-83753-190-520231002