Achievement of Industry 5.0 in HEI based on the Balanced Scorecard (BSC) – focus on internal business process perspectives

Industry 4.0 has been characterized by the development of technologies, whereas Industry 5.0 takes a step forward by creating an equilibrium between the technological and social aspects. It is known that higher education institutions play a key role in societal development, and that industrial revolutions must be supported within academic communities. Higher education institu-tions can achieve the realization of strategic goals by implementing the Balanced Scorecard mod-el. Accordingly, the Balanced Scorecard was used with a focus on the Internal Business Process Perspective, given that this perspective is directed towards the operational activities of the organ-ization. The focus of this research is directed towards the descriptive structure of variables that constitute the perspective of internal business processes. A survey was conducted in higher educa-tion institutions in the Republic of Serbia based on 374 successfully completed responses. Ob-tained results show the highest average rating for questions including: computer equipment, online databases, scientific journals, and available library materials suitable for the needs of im-plementing Industry 5.0 to improve the quality of the research process towards Industry 5.0, which leads to student satisfaction with the teaching process as well as the overall teaching performance in Industry 5.0.