Society 5.0: balancing of Industry 4.0, economic advancement and social problems

Abstract

PurposeThe purpose of this paper is to report about research how Society 5.0 balances Industry 4.0, responsible economic development and resolution of social problems by advancement of corporate social responsibility (CSR) in organizations.Design/methodology/approachDrawing from organization, sustainable development and social functionalism theories, the authors designed an integral model of CSR in line with goals of a forward-looking and socially responsible society. This study includes analyzing of present governing principles, multidisciplinary and multifunctional consideration and developing of integral framework for CSR in organizations.FindingsThis study’s findings suggest incorporation of technology in models of CSR, a regionally grounded solving of individuals’ social problems and changing of CSR’s environmental, social and economic dimensions according to circumstances of Society 5.0.Practical implicationsThis study has created guidance for improvement of CSR practice in organizations through its responsible operating and behavior grounded on the governing environmental and social circumstances in modern society. It also revealed new possibilities for interest-based usage of human-centered society among individuals and organizations.Originality/valueThe reported study proposed an integral model of CSR for solving the main social problems with usage of advanced technologies in responsible economic growth founded on circumstances of Society 5.0, previously not considered in literature.