A Catalyst for Social Economy: Society 5.0

Abstract

As our planet moves towards the middle of the 21st century, it faces a dizzying digital transformation process. This transformation brings along with it unique and innovative solutions to numerous social, organizational, and managerial issues. The most tangible of these solutions so far is the vision of Society 5.0 announced by the Japanese government in 2016. Within this scope, the purpose of this chapter is to develop conceptual insight into the reasons for the emergence, components, and goals of Society 5.0. Up-to-date research and current reports on the topic have been examined in this context, and a conceptual framework is formed. The findings show that many digital tools of Society 5.0 are already used in economies, but policymakers discuss these tools’ human-centered reuse. As a result, a positive futuristic perspective has been drawn that humanity will continue its life on a more habitable planet for decades to come and unite digital and physical space. Keywords: Society 5.0, Social Economy, Digital Transformation