Developing and implementing new solutions to address social, cultural, economic, orenvironmental challenges is called:*1 pointSustainable InnovationSocial InnovationTechnology InnovationDigital Innovation

Social innovation solves social problems and creates positive societal change.Group of answer choicesTrueFalse

Social innovation follows a different process to more commercial forms of innovationQuestion 15AnswerTrueFalse

3.1.2 | Eco-innovationAs a critical enabler of Industry 5.0, eco-innovation (EOI) entails newapproaches that promote sustainable development goals (Aslamet al., 2020). Environmental innovation and social innovation are thetwo constituents of EOI. Environmental innovation refers toimplementing novel solutions and changes that allow business prod-ucts, processes, and services contribute to a more environmentallysustainable economy (Ghobakhloo, Iranmanesh, et al., 2021). Socialinnovation entails improving society's well-being, welfare, and socialneeds by introducing and implementing innovative solutions that pro-pel the necessary changes in the products, processes, businessmodels, and collaborations (Terstriep et al., 2020). The enabling roleof EOI involves allowing Industry 5.0 stakeholders to strike a balancebetween economic productivity and socio-environmental sustainabil-ity (Nahavandi, 2019). EOI can serve the economic resilience objectiveof Industry 5.0 by allowing businesses to identify novel growth oppor-tunities, improve brand image, reduce operational costs, and proac-tively respond to market dynamics (Breque et al., 2021). EOI furtherallows value networks to reduce the impact of production andconsumption modes on the environment and promote the circulareconomy (ElFar et al., 2021). Alternatively, the enabling role of EOIfor social values of Industry 5.0 involves smartification of the workenvironment, improving customer satisfaction, and creating businessmodes that promote value chain inclusivity (Nahavandi, 2019;Sindhwani et al., 2022)

Which of the following is an example of social innovation?*1 pointDeveloping a new technologyCreating a nonprofit organization to address a social issueLaunching a new product in the marketExpanding into a new market overseas

Which type of innovation focuses on significant changes that challenge established markets?Group of answer choicesArchitectural InnovationDisruptive InnovationBasic ResearchSustainable Innovation