Intellectual capital in Society 5.0 by the lens of the knowledge creation theory

Purpose This paper reviews the development of knowledge creation theory in the last quarter-century and how it has contributed to innovation management and looks into social and human aspects of innovation in the era of “Society 5.0”. Design/methodology/approach This research aims to relate basic theoretical concepts: knowledge creation and knowledge assets, purpose, leadership, and place (Ba) for innovation to drive innovation and its management as a whole ecosystem. It also discusses the application to innovation management systems open innovation, and social innovation. Findings Today's innovation demands socio-economic fusion that goes beyond current corporate boundaries. By preparing the system (knowledge ecosystem) as the basis, we could build the bridge, and such fusion would be possible. Research limitations/implications This paper shows the framework of the idea. Evidence-based research based on “knowledge assessment” will be discussed on another occasion. Originality/value This research is to explain knowledge management, innovation, and social innovation beyond the corporate framework.