Industrial revolutions and human capital for the new normal: a cross-country analysis of the university system

Abstract

PurposeThis paper aims to discuss the concepts of Industry 4.0, Industry 5.0, the New Normal and sustainable development (SD). The simultaneous existence of two Industrial Revolutions raises questions, thus, necessitating discussions and clarifications. The issue of SD has become a compulsory prerequisite for the future survival of humanity.Design/methodology/approachAn exploratory and inductive methodology was used to examine the phenomenon under analysis. Qualitative and quantitative data were gathered through a multi-step methodological process. A brief analysis using VoS viewer software enabled the authors to comprehend recent theoretical developments and analytical perspectives.FindingsThe findings underscore the relationship between the new sustainability challenges, digital transactions and organisational competitiveness. These intricate competitive challenges can be surmounted by focusing on educational offerings, particularly in universities. By forging international educational connections, the challenges posed by SD can be relatively easily overcome.Originality/valueThe authors conducted a comparative study of university students from four different countries: Georgia, Hungary, Italy and Ukraine. The authors observed differences in the average values across various countries, as well as disparities among respondents from the same country. Moreover, the results reveal a tendency among female respondents to be more inclined towards issues of green management and sustainability. SD cannot be realised without international collaboration. The authors present a schematic representation of the systemic connections among the universities of the participating countries to achieve SD.