SMEs and Sustainability via Green Orientation: Fostering Resilience in Industry 5.0

This chapter investigates the pivotal role of small and medium enterprises (SMEs) in driving sustainability within the burgeoning Industry 5.0 paradigm. Recognizing their significance as economic pillars and major contributors to resource consumption, the chapter underscores the imperative for SMEs to adopt green practices for a resilient future. By exploring the concept of green orientation, the chapter elucidates how SMEs can enhance environmental, economic, and social sustainability by integrating environmental considerations into their core business strategies. It addresses the challenges SMEs face in implementing green practices, such as limited resources and knowledge gaps, while highlighting the opportunities presented by Industry 5.0. The chapter further examines the systemic benefits that can arise from collaborative networks of sustainable SMEs, leveraging emerging technologies to address industrial ecology, enterprise resilience, and global supply chain sustainability. It analyzes how technologies like the Internet of Things, Big Data analytics, and cloud computing can empower SMEs to overcome barriers and accelerate their green transformation. Moreover, the chapter explores the crucial role of policy measures in supporting SMEs’ transition to sustainability, emphasizing the need for an enabling environment that addresses the complex interplay between economic, environmental, and social factors. Through a comprehensive review of empirical evidence and theoretical perspectives, the chapter provides a holistic understanding of the opportunities and challenges faced by SMEs in their pursuit of sustainability via green orientation. The insights presented will be invaluable for policymakers, business leaders, and academics seeking to foster the resilience of small businesses in the context of the rapidly evolving Industry 5.0 landscape. Finally, the chapter argues that by embracing green orientation as a core business value and harnessing the transformative potential of Industry 5.0, SMEs can enhance their competitiveness, contribute to a more sustainable future, and thrive in the face of evolving global challenges.