Abstract
Humans lived a nomadic lifestyle for 150 000 years until the agricultural revolution around 11 700 years ago. The second wave—the industrial revolution—was initiated by discovery of electricity leading to exponential growth in production. The third wave, characterized by innovations in information technology and Internet, changed human lifestyle fundamentally and generated a new five trillion-dollar IT industry. The fourth wave is characterized by structural change based on digital networks. Meanwhile, growth and growth potential sometimes can be a tradeoff. Growth came at the cost of further worsening climate change, energy, and demographic crises. As a response to address these challenges, the fifth wave is characterized by sustainable growth so that myopic growth does not depreciate growth potential. This article discusses discerning factors of the fifth wave and its implications. In addition, this article introduces a new framework “business sustainability matrix” that classifies businesses based on demand potential, sustainability, and their subsequent impact on economic potential in the long term.
| Original language | English |
|---|---|
| Pages (from-to) | 106-114 |
| Number of pages | 9 |
| Journal | IEEE Engineering Management Review |
| Volume | 53 |
| Issue number | 1 |
| DOIs | |
| State | Published - 2025 |
Keywords
- Agricultural revolution
- business sustainability matrix
- corporate social responsibility (CSR)
- energy
- environment
- environmental impact
- environmental sustainability
- environmental, social, and governance (ESG)
- fifth industrial revolution
- fifth wave
- human centeredness
- industrial revolution
- innovation
- social sustainability
- sustainability
- technology
