ABSTRACT
The development of digital platforms involves the co-evolution of platform architecture, services, and governance. Governance plays a crucial role in shaping economic processes. Digital platform governance differs from the governance of traditional firms. Digital platform governance models are based on 1) policy decisions, 2) algorithms, and 3) user dependency. Governance can also be classified by location: 1) self-governance, 2) external governance, and 3) co-governance. This chapter explores these governance models.
Ethical considerations, such as privacy, fairness, transparency, and accountability, are essential in platform development. This chapter connects theory to real-world applications, focusing on the ethical landscape in supply chain and finance. Additionally, the rise of Industry 5.0, which builds upon Industry 4.0, introduces a human-centric, sustainable approach to industrial development that emphasizes resilience and responsible practices in manufacturing, finance, and supply chain management.
