ABSTRACT:
In today’s highly competitive business world, innovation has played a crucial role in exploring w88 link w88 moi nhat operational actions and conducting w88 link w88 moi nhat managerial actions that managers and their staff must do to enhance business performance as well as achieve business advantages. It is essential for businesses to continuously improve products and services to better satisfy customers. Moreover, profit also is w88 link w88 moi nhat key to basic financial survival of businesses. However, w88 link w88 moi nhat current biggest challenge for many businesses is w88 link w88 moi nhat ability to meet customers’ needs. That is w88 link w88 moi nhat reason why innovation plays a significant role in w88 link w88 moi nhat success of any company, and investment insustainable innovationis one of w88 link w88 moi nhat most effective solutions that business leaders use to reach their target. This paper is to provide an understanding of sustainability and innovation as well as w88 link w88 moi nhat essential role of sustainable innovation.
Keywords: sustainable development, green innovation, competition, innovation policy
1. Introduction
In w88 link w88 moi nhat global competitive market, it is difficult for companies to get a good position unless they have good strategies to ensure their product or service meets w88 link w88 moi nhat demand of markets and customers. It can be said that w88 link w88 moi nhat advantages of w88 link w88 moi nhat fourth industrial revolution have impacted on individual’s lives both directly and indirectly. We have acknowledged that radical developments have changed virtually every element of life, including a significant impact on even state power capability, and altering w88 link w88 moi nhat behavior of customers. Innovation has been considered as a core value for w88 link w88 moi nhat success of any company because it describes both their sensitivity and vision of fluctuating markets. Innovation’s benefits are significant. However, not every innovation will bring success to w88 link w88 moi nhat firms. That is reason why people say that innovation is known as a “sweet - trap” attracting people despite risk. Most companies understand that they will be substituted or alternated whether they want or not if they do not comply with w88 link w88 moi nhat rules and requirements of market tendencies. It is said that innovation has been interpretated as an opened window for every oriented business activity in w88 link w88 moi nhat digital revolution, and marketing is a significant example. Fortunately, policymakers recognize that innovation is essential for business growth which including value, output, or profit, and applying innovation in marketing is what must do. It can be considered as a tool to explore new markets potential and customer’s need as well as receiving w88 link w88 moi nhat feedback to ensure that new products will be accepted by w88 link w88 moi nhat market.
Due to its status as a vital component of development, economic growth has long been a key macroeconomic goal. As a result, several investigations have been carried out to identify w88 link w88 moi nhat factors that might spur economic growth. Innovation is one of w88 link w88 moi nhat most crucial factors since it makes products more competitive and opens new markets for businesses (Nissan et al, 2012). Additionally, Castano and his research group contend that market expansion and innovations have a key influence in promoting economic growth (Castanoet al,2015). Innovation is one of w88 link w88 moi nhat vital drivers of corporate activity which has a beneficial direct and indirect impact on w88 link w88 moi nhat economic development of a nation.
w88 link w88 moi nhat structure of this study is shown in three sections: (1) referring to definition of sustainable development, (2) interpreting w88 link w88 moi nhat concept of innovation and sustainable innovation, and (3) providing suggestions on how companies can innovate sustainably.
2. Sustainable development
There are several existing definitions for w88 link w88 moi nhat term ‘sustainable development’ that are mentioned in this paper. w88 link w88 moi nhat first concept was introduced in 1980 in w88 link w88 moi nhat report of w88 link w88 moi nhat International Union for Conservation of Nature and Natural Resources. Sustainable development is defined as ‘w88 link w88 moi nhat integration of conservation and development to ensure that modification to w88 link w88 moi nhat planet does indeed secure w88 link w88 moi nhat survival and well-being of all people’. (Schiederig T.et al,2011; Dresner, 2008). And w88 link w88 moi nhat essential notion was used by Brundtland (1987) with her report “Our common future” as ‘sustainable development’ is referred as “development that meet w88 link w88 moi nhat needs of w88 link w88 moi nhat present without compromising w88 link w88 moi nhat ability of future generations to meet their own needs”. In contrast to w88 link w88 moi nhat traditional definition of development, which mainly focuses on economic growth, Brundtland proposed a new concept that emphasizes w88 link w88 moi nhat need to include a variety of factors: social, environmental, and economic advancement are severely linked if we wish to achieve sustainable development. Furthermore, some studies stated that if we want a long-term and lasting development that contributes to w88 link w88 moi nhat quality of life, we cannot exclusively concentrate on w88 link w88 moi nhat economic expansion of w88 link w88 moi nhat community because “money makes life more comfortable, but not more sustainable”. It means that sustainable development (SD) and sustainability must be considered as a long-term goal.
3. What is innovation?
Many authors have stated w88 link w88 moi nhat definition of innovation in w88 link w88 moi nhat early period of research history. Some people argue that innovation is generally considered as a firm’s competitive advantage regarding with growth and profitability (David B. Audretsch, Alex Coad & Agustí Segarra, 2014). Meanwhiles, another definition with more complex analysis when considering w88 link w88 moi nhat innovation is “w88 link w88 moi nhat implementation of a new or significantly improved product (service or good), or process, a new marketing method, or a new organizational method in business practices, workplace organization or external relations” (w88 link w88 moi nhat OECD). Also, according to Kevin Laland, a scholar from University of St. Andrew’s, w88 link w88 moi nhat concept of innovation is a notion which requires “lots of connections and copying because that does not matter how much novel invention takes place, unless those inventions are replicated accurately then they die out before they can be built upon”. At w88 link w88 moi nhat same time, another expert, Nick S. (2016) considered innovation is as “Turning an idea into a solution that adds value from a customer’s perspective” while David Burkus, associate professor of management at Oral Roberts University, a famous author, and award-winning poscaster defines that w88 link w88 moi nhat innovation is “w88 link w88 moi nhat application of ideas that are novel and useful”, in his opinion w88 link w88 moi nhat capacity to come up with original, beneficial ideas is w88 link w88 moi nhat root of innovation, but until those ideas are implemented and scaled, they remain little more than ideas.
Despite receiving much criticism, Schumpeter was one of w88 link w88 moi nhat first researchers to use w88 link w88 moi nhat term “innovation”, and innovation economists still frequently refer to his definition about innovation as “w88 link w88 moi nhat economic impact of technological change” and “w88 link w88 moi nhat use of new combinations of existing productive forces to solve business problems” (Maria, 2012). According to Smith (2005), novelty is central to w88 link w88 moi nhat notion of innovation and measuring novelty is w88 link w88 moi nhat first difficulty to overcome. Even if novelty may be quantified, he argues that w88 link w88 moi nhat term ‘new’ has to be defined. Smith also claims that something may be old but new to w88 link w88 moi nhat company, it might be a completely fresh concept, or it might merely be a little adjustment. Additionally, Terziovski (2010) refers to innovation as “w88 link w88 moi nhat technical, design, manufacturing, management and commercial activities involved in w88 link w88 moi nhat marketing of a new (or improved) product or w88 link w88 moi nhat first commercial use of a new (or improved) process or equipment”.
Different authors have proposed different opinions; however, w88 link w88 moi nhat basic points of innovation strongly have linkage with w88 link w88 moi nhat newness. Innovation could be w88 link w88 moi nhat process transferring and applying inventions into commodities appearing on w88 link w88 moi nhat market to create value for w88 link w88 moi nhat company through trading or providing them to meet w88 link w88 moi nhat demands and expectations of clients. w88 link w88 moi nhat fundamental content of innovation is to upgrade w88 link w88 moi nhat speed of processes, incorporate new ideas into manufacturing, and obtain final goals (such maximizing w88 link w88 moi nhat commercial benefit, fostering sustainable economic development of social projects efficiency). Figure 1 below describes decision making process in management to apply innovative thinking to w88 link w88 moi nhat final step of profitable process.
Figure 1: Innovation path for efficiency of innovation to benefits
Source: Kogabayev et al., 2017
4. How to innovate sustainability
“Sustainable innovation” addresses these unplanned social and environmental effects. It means that businesses can offer their products (goods and services) that are advantageous to both these firms and society in w88 link w88 moi nhat long run. w88 link w88 moi nhat article defines sustainable innovation, examines its relevance, and provides recommendations for making it a reality.
Adamset al.(2015), who conducted and reviewed research on w88 link w88 moi nhat sustainable innovation topic, propose thatitinvolves building intentional adjustments to company’s good, services or business processes to offer environmental and social gains in w88 link w88 moi nhat long-term while creating financial achievements for w88 link w88 moi nhat enterprises.
By concentrating on environmental factors before w88 link w88 moi nhat competitive rivals, simultaneously enhancing w88 link w88 moi nhat quality of products and/or business processes that related to issues such as environmental effects, and gaining some benefits of manufacturing their products with low energy and low pollution spending in global business conditions, businesses can actually incorporate green innovation to improve as well as maintain advantages in competitive situations (Arranz et al. 2019, Porter et al. 1995). Next generations' circumstances would not be harming in this way. Similar to entrepreneurship, it is useful to understand how each of these inventions will affect sustainable development.
Businesses must develop their core competencies to obtain competitive power through green innovation. According to w88 link w88 moi nhat research published by Sezen & Cankaya (2013), making management plans based on environmental challenges and crucial components of adjusting to clients needs in order to achieve performance in part of managing w88 link w88 moi nhat company environment. Thus, every enterprise will need to choose w88 link w88 moi nhat suitable innovation strategy that makes w88 link w88 moi nhat effectiveness and success for themselves. Some among them could use a variety of innovative strategies, meanwhiles w88 link w88 moi nhat others maybe choose different ways. For instance, an oil and gas business can invest in advances in renewable technology to wean itself off of fossil fuels while still seeking efficiency in cutting carbon emissions.
w88 link w88 moi nhat term of sustainable innovation may be divided into three basic sectors, namely operational improvement, organizational change, and system development. These several categories, which were examined by Adams and his team (Adamset al.2015) are represented in figure 2 below. These factors have different effects on w88 link w88 moi nhat results of process, and w88 link w88 moi nhat most influence part is “systems building”.
w88 link w88 moi nhat first element isOperational optimization (Eco-Efficiency). Without fundamentally altering their company concept, businesses can enhance their operational procedures. Companies can find w88 link w88 moi nhat best solutions to "do w88 link w88 moi nhat same things better" and decline their detrimental effects on w88 link w88 moi nhat environment and society (for example, trying use renewable energy resource or cutting packaging). This may be achieved quickly by creating a balance combination between social and environmental factors, and current quality or profit goals. This method is sometimes mentioned as "eco-efficiency."
Figure 2:Firms can engage in three types of sustainable innovation
Source: Adams et al. (2015)
Organizational transformation(New market opportunities). Enterprises can produce innovative new services and goods that meet social needs and promoting w88 link w88 moi nhat environment to make a bigger modification. In this step, firms should focus on "doing good by doing new things" rather than "doing less damage". These companies also recognize a commercial capability in sustainability. There are some samples of sustainable innovation including w88 link w88 moi nhat creation of w88 link w88 moi nhat biofuel from coffee waste, or w88 link w88 moi nhat models of smartphone – a process that demonstrates how firms may apply sustainable innovation in this style. Organizational transformation needs a fundamentally movement in their thinking to do new things instead of doing better things.
Systems building(Societal change). w88 link w88 moi nhat most complex sort of sustainable innovation involves collaborating with others to create development for both human and environment situation. In fact, most companies in this section recognize their role in an eco-system and no enterprise can achieve sustainability on its own ability. Therefore, their popular slogan is "Do good through doing new things with people". Designers in these systems need to widen w88 link w88 moi nhat reach of their ideas by connecting with partners or co-workers from previously unrelated industries as well as depreciated players.
5. Conclusion
In this paper, w88 link w88 moi nhat author showed w88 link w88 moi nhat existing concepts of sustainable innovation that are researched by some scholars in academic fields. As identified early in w88 link w88 moi nhat study, with significant advantages, sustainable innovation always plays a significant role in both business innovations and w88 link w88 moi nhat global modern economy with potential competitive advantage that creating effective innovation strategies for w88 link w88 moi nhat firm. With an important tool as green innovation, enterprises have their own competitive advantages as they make w88 link w88 moi nhat right investment decision in this context. In addition, w88 link w88 moi nhat study also mentioned that it is important to have w88 link w88 moi nhat right strategy for innovation process to reach sustainable development goals in w88 link w88 moi nhat future.
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ĐỔI MỚI VÀ VAI TRÒ CỦA SỰ ĐỔI MỚI BỀN VỮNG
• NGUYỄN THỊ THU HUYỀN
Nghiên cứu sinh tại Trường Đại học Pécs, Hungary
TÓM TẮT:
Trong bối cảnh môi trường kinh doanh cạnh tranh gay gắt hiện nay, sự đổi mới đóng vai trò quan trọng trong việc giúp các nhà quản lý và nhân viên tìm ra các biện pháp để nâng cao hiệu quả, cũng như đạt được lợi thế kinh doanh. Các doanh nghiệp luôn cần phải cải tiến sản phẩm và dịch vụ để ngày càng đáp ứng tốt hơn các nhu cầu của khách hàng. Bên cạnh đó, yếu tố lợi nhuận cũng đóng vai trò quan trọng, quyết định sự tồn tại của doanh nghiệp trên thị trường. Tuy nhiên, thách thức lớn nhất hiện nay đối với nhiều doanh nghiệp chính là khả năng đáp ứng nhu cầu của khách hàng. Đây cũng là lý do tại sao việc đổi mới đóng một vai trò quan trọng trong sự thành công của bất kỳ công ty nào. Đầu tư vào đổi mới bền vững là một trong những giải pháp hiệu quả nhất mà các nhà lãnh đạo doanh nghiệp sử dụng để đạt được mục tiêu của mình. Nghiên cứu này nhằm làm rõ hơn tính bền vững và đổi mới, cũng như vai trò quan trọng của sự đổi mới bền vững.
Từ khoá:phát triển bền vững, đổi mới xanh, cạnh tranh, chính sách đổi mới.
[Tạp chí Công Thương - Các kết quả nghiên cứu khoa học và ứng dụng công nghệ, Số 8, tháng 4 năm 2023]
