ABSTRACT:

In today’s highly competitive business world, innovation has played a crucial role in exploring link chuẩn của w88 operational actions and conducting link chuẩn của w88 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 link chuẩn của w88 key to basic financial survival of businesses. However, link chuẩn của w88 current biggest challenge for many businesses is link chuẩn của w88 ability to meet customers’ needs. That is link chuẩn của w88 reason why innovation plays a significant role in link chuẩn của w88 success of any company, and investment insustainable innovationis one of link chuẩn của w88 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 link chuẩn của w88 essential role of sustainable innovation.

Keywords: sustainable development, green innovation, competition, innovation policy

1. Introduction

In link chuẩn của w88 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 link chuẩn của w88 demand of markets and customers. It can be said that link chuẩn của w88 advantages of link chuẩn của w88 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 link chuẩn của w88 behavior of customers. Innovation has been considered as a core value for link chuẩn của w88 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 link chuẩn của w88 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 link chuẩn của w88 rules and requirements of market tendencies. It is said that innovation has been interpretated as an opened window for every oriented business activity in link chuẩn của w88 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 link chuẩn của w88 feedback to ensure that new products will be accepted by link chuẩn của w88 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 link chuẩn của w88 factors that might spur economic growth. Innovation is one of link chuẩn của w88 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 link chuẩn của w88 vital drivers of corporate activity which has a beneficial direct and indirect impact on link chuẩn của w88 economic development of a nation.

link chuẩn của w88 structure of this study is shown in three sections: (1) referring to definition of sustainable development, (2) interpreting link chuẩn của w88 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 link chuẩn của w88 term ‘sustainable development’ that are mentioned in this paper. link chuẩn của w88 first concept was introduced in 1980 in link chuẩn của w88 report of link chuẩn của w88 International Union for Conservation of Nature and Natural Resources. Sustainable development is defined as ‘link chuẩn của w88 integration of conservation and development to ensure that modification to link chuẩn của w88 planet does indeed secure link chuẩn của w88 survival and well-being of all people’. (Schiederig T.et al,2011; Dresner, 2008). And link chuẩn của w88 essential notion was used by Brundtland (1987) with her report “Our common future” as ‘sustainable development’ is referred as “development that meet link chuẩn của w88 needs of link chuẩn của w88 present without compromising link chuẩn của w88 ability of future generations to meet their own needs”. In contrast to link chuẩn của w88 traditional definition of development, which mainly focuses on economic growth, Brundtland proposed a new concept that emphasizes link chuẩn của w88 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 link chuẩn của w88 quality of life, we cannot exclusively concentrate on link chuẩn của w88 economic expansion of link chuẩn của w88 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 link chuẩn của w88 definition of innovation in link chuẩn của w88 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 link chuẩn của w88 innovation is “link chuẩn của w88 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” (link chuẩn của w88 OECD). Also, according to Kevin Laland, a scholar from University of St. Andrew’s, link chuẩn của w88 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 link chuẩn của w88 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 link chuẩn của w88 innovation is “link chuẩn của w88 application of ideas that are novel and useful”, in his opinion link chuẩn của w88 capacity to come up with original, beneficial ideas is link chuẩn của w88 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 link chuẩn của w88 first researchers to use link chuẩn của w88 term “innovation”, and innovation economists still frequently refer to his definition about innovation as “link chuẩn của w88 economic impact of technological change” and “link chuẩn của w88 use of new combinations of existing productive forces to solve business problems” (Maria, 2012). According to Smith (2005), novelty is central to link chuẩn của w88 notion of innovation and measuring novelty is link chuẩn của w88 first difficulty to overcome. Even if novelty may be quantified, he argues that link chuẩn của w88 term ‘new’ has to be defined. Smith also claims that something may be old but new to link chuẩn của w88 company, it might be a completely fresh concept, or it might merely be a little adjustment. Additionally, Terziovski (2010) refers to innovation as “link chuẩn của w88 technical, design, manufacturing, management and commercial activities involved in link chuẩn của w88 marketing of a new (or improved) product or link chuẩn của w88 first commercial use of a new (or improved) process or equipment”.

Different authors have proposed different opinions; however, link chuẩn của w88 basic points of innovation strongly have linkage with link chuẩn của w88 newness. Innovation could be link chuẩn của w88 process transferring and applying inventions into commodities appearing on link chuẩn của w88 market to create value for link chuẩn của w88 company through trading or providing them to meet link chuẩn của w88 demands and expectations of clients. link chuẩn của w88 fundamental content of innovation is to upgrade link chuẩn của w88 speed of processes, incorporate new ideas into manufacturing, and obtain final goals (such maximizing link chuẩn của w88 commercial benefit, fostering sustainable economic development of social projects efficiency). Figure 1 below describes decision making process in management to apply innovative thinking to link chuẩn của w88 final step of profitable process.

Figure 1: Innovation path for efficiency of innovation to benefits

sustainable link chuẩn của w88

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 link chuẩn của w88 long run. link chuẩn của w88 article defines sustainable innovation, examines its relevance, and provides recommendations for making it a reality.

Adamset al.(2015), who conducted and reviewed research on link chuẩn của w88 sustainable innovation topic, propose thatitinvolves building intentional adjustments to company’s good, services or business processes to offer environmental and social gains in link chuẩn của w88 long-term while creating financial achievements for link chuẩn của w88 enterprises.

By concentrating on environmental factors before link chuẩn của w88 competitive rivals, simultaneously enhancing link chuẩn của w88 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 link chuẩn của w88 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 link chuẩn của w88 company environment. Thus, every enterprise will need to choose link chuẩn của w88 suitable innovation strategy that makes link chuẩn của w88 effectiveness and success for themselves. Some among them could use a variety of innovative strategies, meanwhiles link chuẩn của w88 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.

link chuẩn của w88 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 link chuẩn của w88 results of process, and link chuẩn của w88 most influence part is “systems building”.

link chuẩn của w88 first element isOperational optimization (Eco-Efficiency). Without fundamentally altering their company concept, businesses can enhance their operational procedures. Companies can find link chuẩn của w88 best solutions to "do link chuẩn của w88 same things better" and decline their detrimental effects on link chuẩn của w88 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

sustainable link chuẩn của w88

Source: Adams et al. (2015)

Organizational transformation(New market opportunities). Enterprises can produce innovative new services and goods that meet social needs and promoting link chuẩn của w88 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 link chuẩn của w88 creation of link chuẩn của w88 biofuel from coffee waste, or link chuẩn của w88 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). link chuẩn của w88 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 link chuẩn của w88 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, link chuẩn của w88 author showed link chuẩn của w88 existing concepts of sustainable innovation that are researched by some scholars in academic fields. As identified early in link chuẩn của w88 study, with significant advantages, sustainable innovation always plays a significant role in both business innovations and link chuẩn của w88 global modern economy with potential competitive advantage that creating effective innovation strategies for link chuẩn của w88 firm. With an important tool as green innovation, enterprises have their own competitive advantages as they make link chuẩn của w88 right investment decision in this context. In addition, link chuẩn của w88 study also mentioned that it is important to have link chuẩn của w88 right strategy for innovation process to reach sustainable development goals in link chuẩn của w88 future.

REFERENCES:

  1. Arranz, N.; Arroyabe, M.F.; Molina-García, A.; Fernandez de Arroyabe, J.C. (2019). Incentives and inhibiting factors of eco-innovation in link chuẩn của w88 Spanish firms.J. Clean. Prod.,220, 167-176.
  2. Castaño-Martinez, M.S.; Méndez-Picazo, M.T.; Galindo-Martín, M.A. (2015). Policies topromote entrepreneurial activity and economic performance.Manag. Decis.53, 2073-2087.
  3. 3. Kogabayev, Timur & Maziliauskas, Antanas. (2017). link chuẩn của w88 definition and classification of innovation.Holistica, 8, 10.
  4. 4. Maria Elizabeth Eggink. (2012). Innivation System Performance: How to Address link chuẩn của w88 measurement of a System’s Performance.Journal of Innovation and Business best Practice,2012, 1-9.
  5. 5. Nissan, E.; Galindo, M.A.; Mendez-Picazo, M.T. (2012). Innovation, progress, entrepreneurship and cultural aspects.Entrep. Manag. J.,8, 411-420.
  6. 6. Pisano, G.P. (2015). You need an Innovation strategy. [Online] Availabile at https://hbr.org/2015/06/you-need-an-innovation-strategy
  7. Porter, M.E.; van der Linde, C. (1995). Toward a new conception of link chuẩn của w88 environment-competitiveness relationship.J. Econ. Perspect.9, 97-118.
  8. 8. Richard Adams, et. al., (2015). Sustainability-oriented Innovation: A SystematicReview.International Journal of Management Reviews,18, 180-205.
  9. 9. Schiederig T., Tietze, F., and Herstatt, C. (2011). What is Green Innovation? - A quantitative literature review.[Online] Availabile at https://www.researchgate.net/publication/228320089_What_is_Green_Innovation_-_A_Quantitative_LiteratureReview
  10. 10. Sezen, B., & Çankaya, S. Y. (2013). Effects of green manufacturing and eco-innovation on sustainability performance.Procedia - Social and Behavioral Sciences, 99, 154-163.
  11. 11. Smith, K. H. (2005). Measuring Innovation. In: Fagerberg, J., Mowery, DC. And Nelson, RR. (Eds.).link chuẩn của w88 Oxford Handbook of Innovation (pp.148-177). UK:Oxford University Press, New York.
  12. 12. Terziovski, M. (2010). Innovation practice and its performance implications in small and medium enterprises (SMEs) in link chuẩn của w88 manufacturing sector: a resource-based view.Strategic Management Journal, 31, 892-902.

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]