The impact of platform business models on organizational performance in the era of Industry 5.0: A strategic agility and innovation approach

The study explores the impact of the platform business model (PBM) on organizational performance, focusing on Industry 5.0 (I5.0). It introduces a conceptual model to assess how PBMs shape organizational outcomes. PBMs are recognized for their role in managing multi-sided markets and leveraging forces such as strategic agility (SA), business model innovation (BMI), strategic operations practice (SOP) and I5.0 technologies to create value. Despite their significance, the systematic integration of PBMs in the organizational value-creation process remains underexplored. To address this, the authors propose a pragmatic conceptual model, which is then converted into a structural equation model to evaluate the effects of PBMs on performance. Structural Equation Model (SEM), combined with confirmatory factor analysis, highlights PBMs’ intangible influence, driven by digital resources and evolving customer value propositions. PBMs face rapid changes influenced by SA, BMI, SOP and I5.0, leading to short-term competitive advantages. The study underscores the importance of SA, BMI and SOP in organizational strategy but notes their limited long-term benefits. It also presents research propositions with implications for leaders and policy-makers, enhancing the understanding of PBMs in the I5.0 context.