The relationship between industry 5.0 Process and ESG process: A qualitative analysis in the context of Türkiye’s BIST Sustainability 25 Index white good sector

Abstract

This study aims to determine the relationship between Industry 5.0 and ESG (Environmental Social Governance) processes. In addition, this study aims to reveal how this relationship is evaluated within the scope of Vestel and Arçelik enterprises in the white goods sector within the scope of the BIST (Borsa Istanbul) Sustainability 25 Index in Türkiye. For this aim, the relationship between Industry 5.0 and ESG processes was first explained using document analysis, one of the qualitative analysis techniques. Then, descriptive content analysis, which is also one of the qualitative analysis techniques, was used to examine the latest annual reports of Vestel and Arçelik, which are in the white goods sector within the scope of the BIST Sustainability 25 Index in Türkiye, published in 2022. For Industry 5.0, Industry 4.0, environment, employees and society, and finally, the resilience of businesses components were considered, while for the ESG process, environmental, social and governance components were emphasised. NVivo (version 14.23.2) software was used for the analysis. As a result of the study, it was determined that there is a close bidirectional relationship between the components in the Industry 5.0 process and the components in the ESG process. In other words, it can be said that investing in ESG processes will contribute positively to the Industry 5.0 process and investing in the Industry 5.0 process will contribute positively to the ESG process. Within the scope of Industry 5.0 and ESG processes, Vestel and Arçelik have similar studies. In addition, this study offers suggestions for developing practices for the ESG process by adapting to technological change.

Keywords

• Industry 5.0
• technology and innovation management
• sustainability
• knowledge management

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