The Effect of Technological Innovation on Business Sustainability Based on Society 5.0 Dimension: New Decision Making Methods

Authors

DOI:

https://doi.org/10.35870/ijmsit.v3i2.1493

Keywords:

Business Decision-Making, Mixture Analysis, Society 5.0, Sustainability, Technological Innovation

Abstract

This study aims to analyze the relationship between technological innovation, business decision-making, and sustainability in the context of Society 5.0. Mixed methods approaches are used to gain a deep and diverse understanding of these complex interactions. The data collection was done through online surveys and in-depth interviews. Quantitative analysis uses regression to examine the relationship between technological innovation adoption and sustainable business decision-making. Qualitative analysis was performed using a thematic approach to interview transcripts. The results of the analysis show that there is a positive and significant correlation between the level of technological innovation adoption and the effectiveness of sustainable business decision-making. Qualitative results reveal stakeholder views on the impact of technological innovation on business implementation and decision-making challenges. The conclusion of this study highlights the important role of technological innovation in achieving sustainable business goals, providing guidance for the development of adaptive business strategies in an age of technological change and society.

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Author Biographies

  • Muhammad Fuad, Samudra University

    Faculty of Economics

  • Darusman Darusman, Universitas Muhammadiyah Pontianak

    Faculty of Economics and Business

  • Fita Kurniasari, Universitas Muhammadiyah Pontianak

    Faculty of Economics and Business

  • Mahardika Agung Madepo, Universitas Muhammadiyah Pontianak

    Faculty of Economics and Business

References

Deguchi, A., Hirai, C., Matsuoka, H., Nakano, T., Oshima, K., Tai, M., & Tani, S. (2020). What is Society 5.0. Society, 5(0), 1-24.

Narvaez Rojas, C., Alomia Peñafiel, G. A., Loaiza Buitrago, D. F., & Tavera Romero, C. A. (2021). Society 5.0: A Japanese concept for a superintelligent society. Sustainability, 13(12), 6567. DOI: https://doi.org/10.3390/su13126567.

Holroyd, C. (2022). Technological innovation and building a ‘super smart ’ society: Japan’s vision of society 5.0. Journal of Asian Public Policy, 15(1), 18-31. DOI: https://doi.org/10.1080/17516234.2020.1749340.

Nair, M. M., Tyagi, A. K., & Sreenath, N. (2021, January). The future with industry 4.0 at the core of society 5.0: Open issues, future opportunities and challenges. In 2021 international conference on computer communication and informatics (ICCCI) (pp. 1-7). IEEE. DOI: https://doi.org/10.1109/ICCCI50826.2021.9402498.

Huang, S., Wang, B., Li, X., Zheng, P., Mourtzis, D., & Wang, L. (2022). Industry 5.0 and Society 5.0—Comparison, complementation and co-evolution. Journal of manufacturing systems, 64, 424-428. DOI: https://doi.org/10.1016/j.jmsy.2022.07.010.

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Published

2023-09-01

How to Cite

Fuad, M., Darusman, D., Kurniasari, F., & Agung Madepo, M. (2023). The Effect of Technological Innovation on Business Sustainability Based on Society 5.0 Dimension: New Decision Making Methods. International Journal of Management Science and Information Technology, 3(2), 226-236. https://doi.org/10.35870/ijmsit.v3i2.1493

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