The rapidly changing world requires constant revisions and adaptations to existing business strategies and models. The emerging industry 5.0 reality is forcing companies to transition to a more sustainable, human-centric, and resilient industry through innovation. This book presents concrete business models and practical frameworks to assist managers in developing and implementing innovative and robust businesses, both globally and locally. This edited collection compiles an experienced team of contributing authors with diverse academic backgrounds who cover a range of topics on different aspects of innovation, from exploring the challenges associated with industry 5.0 to incorporating artificial intelligence in modeling consumer behavior. Based on the experiences and challenges posed by recent economic developments and recovery from the COVID-19 pandemic, the book offers the reader a chance to read case studies from global companies that have successfully implemented new innovations. Thanks to a rigorous research methodology in accordance with principles and standards recognized by the DAC Network, the book provides an actionable road map on how to change one’s innovation strategy techniques in light of changing business conditions. Innovation in the Digital Economy will be of direct interest to scholars and subject matter experts in the field of innovation management. Business leaders and reflective practitioners will find the content relevant and accessible.

This book offers practical insight into the changing ways in which organizations operate today. Building on a groundbreaking concept of teal organizations, the book illustrates the practicality of advocating a lack of hierarchy of predetermined positions and the introduction of roles that come with clear responsibilities constantly defined according to current needs. First described by Frederic Laloux, a teal organization is a ground-breaking approach to managing organizations that is being adopted around the world, which turns everyone into a leader. This new paradigm rests on the ideas of wholeness, evolutionary purpose, employee autonomy, and self-management based on peer relationships. Its main assumption is the empowerment of the employee resulting in a change in workplace relationships and a more soulful and purposeful work environment. Drawing on the authors' research across six different countries, it presents the evolution of self-management and entrepreneurial culture in the current age of Economy 4.0 and examines how the teal concept has been implemented around the world. It examines misconceptions surrounding this novel approach and diagnoses the practical problems connected with implementing it in the current uncertain times. It will be of value to researchers, academics, managers, and students in the fields of management and organizational studies.