Discover Sustainability· 2026Q1
Conceptualising family business 5.0 as a socioemotional wealth driven framework for responsible family business transformation
- 0citations
- Q1SCImago
- 2026year
Short summary
Introduces Family Business 5.0 (FB5.0), a human-centric framework for sustainable digital transformation in family businesses (FBs) that aligns socioemotional wealth (SEW) with Industry 5.0 (I5.0) principles.
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Key points
- Introduces Family Business 5.0 (FB5.0) as a conceptual domain of Industry 5.0 (I5.0).
- Proposes a framework aligning socioemotional wealth (SEW) dimensions with I5.0 pillars for sustainable digitalization.
- Identifies 'WARP' outputs: Worker wellbeing, Adaptive performance, Responsible technology adoption, and Planet and community impact.
- Highlights that while FBs are suited for I5.0's human-centric goals, risk aversion and legacy can be innovation barriers.
AI-generated from the title and abstract; the full text is not read.
Abstract
Abstract Purpose This paper introduces the construct of Family Business 5.0 (FB5.0) as a conceptual domain of Industry 5.0 (I5.0), providing a human-centric framework for sustainable digital transformation in family businesses (FBs). It explores how emerging technologies can be harnessed not only to optimise operations but also to strengthen human capital, organisational resilience and socially responsible value creation in an era of sustainability‑driven digital change. Design/methodology/approach Drawing upon interdisciplinary literature and recent case evidence, this paper synthesises perspectives from I5.0, socioemotional wealth (SEW), and family business management. It advances a conceptual model aligning SEW’s FIBER dimensions with I5.0’s core pillars, positioning FB5.0 as a guiding framework for sustainable, ethically aligned and stakeholder‑oriented digitalisation. Findings Family businesses, prioritising SEW, are well-suited to I5.0’s stakeholder-focused goals of human centricity, sustainability, and resilience, although risk aversion and family legacy may act as barriers to innovation. The FB5.0 model shows how SEW supports the aims of I5.0, leading to the ‘WARP’ outputs of Worker wellbeing, Adaptive performance, Responsible technology adoption, and Planet and community impact. Originality/value This paper frames digital transformation and innovation through FB5.0, advocating a shift from technology-led change towards people-powered, sustainability-oriented organisational evolution. It addresses a gap in FB and I5.0 research by offering theoretical insight and practical guidance for family business leaders seeking to future-proof their organisations while preserving core identity. In doing so, it responds to the theoretical limitation of existing frameworks by explaining how SEW shapes digital transformation mechanisms in FBs, and by proposing FB5.0 as a structured explanatory model.
The authors' abstract, as published at the source. Discover Sustainability, 2026 · DOI ↗
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Field: Organizational Behavior and Human Resource Management
Organizational Behavior and Human Resource ManagementBusiness, Management and Accounting