Platform Business Models Operations in Industry 5.0

This research critically examines the utility of the Platform Business Model (PBM) and its influence on organizational performance in Industry 5.0 (I5.0). PBM demonstrates a vital role and integrating organizational forces such as strategic agility (SA), business model innovation (BMI) and operational practice to a greater degree. This paper also offers a conceptual strategic roadmap for the adoption of PBM in I5.0 using the existing literature, findings and outcomes. It was found from the critical literature review that PBMs are increasingly becoming the dominant economic force of global economies—Amazon and Google. Further, this paper also scrutinizes the underlying philosophy and forces of PBM amidst technological advancements—a potential competitive advantage to strategic operations. We propose to test the validity and robustness of the conceptual model using the Structural Equation Model (SEM) to conclusively assess the impact of PBM. The key findings reveal that the conclusive impact of PBM is relatively intangible and centric to generating changing value propositions and progressively developing the strategic advantage.