Achievement of Industry 5.0 in HEIs based on the Balanced Scorecard (BSC) – focus on learning and growth perspective

Unlike Industry 4.0, which has been frequently scrutinized for being entirely focused on digital advancements, a completely new concept has emerged, known as Industry 5.0. Industry 5.0 partially relies on digital advancements but primarily focuses on the sustainability of businesses and society as a whole. It is well-known that the new paradigm of Industry 5.0 can have an impact on organizational performance. On the other hand, the strategic model of the Balanced Scorecard (BSC) model is also used to improve organizational performance. One of the most important perspectives of the BSC model is the learning and growth perspective. The aim of this research is to analyze the descriptive statistics of the learning and growth perspective as part of the BSC model in its application to higher education institutions in the new era of Industry 5.0. The research was conducted among employees in higher education institutions in the Republic of Serbia and its region. A total of 374 complete and valid responses were collected. The focus on the learning and growth perspective is of great importance, considering that the global competitive market demands continuous adaptation and improvement of the performance of higher education institutions.