Sustainable Business Transformation through Green Innovation: Managerial Practices, Challenges, and Outcomes
DOI:
https://doi.org/10.56830/IJGMBS12202503Keywords:
Green Innovation, Sustainable Business Transformation, Sustainable Business Models, ; Managerial Practices, Environmental Sustainability, Competitive Advantage, ; ESG, Sustainability StrategyAbstract
The research centers on sustainable business transformations incorporating green innovations, focusing on management, implementation, and organizational outcomes. As the environment becomes a greater concern, incorporating green innovations to sustain competitive advantage becomes a business model imperative. The literature on sustainable business models and green innovations illuminates the role of managerial decisions, organizational capacity, and innovation in the transformative processes to sustain business model changes. Making the case for green innovations to address the dual concern of the environment and value creation, the research suggests that businesses can realize previously untapped green opportunities and improve their eco-social-economic performance. Reviewing research for the key barriers and drivers on the pathways of sustainable business transformations, the research demonstrates how businesses can adapt their business models in response to a pressing demand for sustainability. The research synthesizes literature to support the understanding of the role green innovations play for strategically renewing and sustaining the business and its fulfillment.
References
Al-Sharifi, A. K. (2023). The role of strategic alignment in promoting strategic sustainability. DOI: https://doi.org/10.1063/5.0136109
Anbarasan, P. (2018). Does Pro-Green Policy and Growth Strategy of an Organization will Bail Out Post-Crisis? DOI: https://doi.org/10.11114/ijsss.v6i7.3410
Arogyaswamy, B. (2019). Business Strategies for Sustainability-Motivated Innovation: A Conceptual Framework. Journal of Management for Global Sustainability, 7(1), 3. DOI: https://doi.org/10.13185/2244-6893.1091
Bakar, K. A., & Senin, A. A. (2016). Modelling sustainability of SMCEs business in the new economic transition. Int. J. Bus. Econ. Law, 11, 31-37.
Borah, P. S., Dogbe, C. S., Dzandu, M. D., & Pomegbe, W. W. (2023). Forging organizational resilience through green value co‐creation: the role of green technology, green operations, and green transaction capabilities. Business Strategy and the Environment, 32(8), 5734-5747. DOI: https://doi.org/10.1002/bse.3446
Brophy Haney, A., Pope, J., & Arden, Z. (2020). Making it personal: Developing sustainability leaders in business.
Bueno Campos, E. (2017). Foreword.
Chopra, S. S., Senadheera, S. S., Dissanayake, P. D., Withana, P. A., Chib, R., Rhee, J. H., et al. (2024). Navigating the challenges of environmental, social, and governance (ESG) reporting: The path to broader sustainable development. Sustainability, 16(2), 606. DOI: https://doi.org/10.3390/su16020606
D. German, J., Agung Ngurah Perwira Redi, A., Kester S. Ong, A., & L. Liwanag, J. (2023). The impact of green innovation initiatives on competitiveness and financial performance of the land transport industry. DOI: https://doi.org/10.1016/j.heliyon.2023.e19130
Du, W., Li, M., & Wang, Z. (2022). The impact of environmental regulation on firms' energyenvironment efficiency: Concurrent discussion of policy tool heterogeneity. Ecological Indicators. DOI: https://doi.org/10.1016/j.ecolind.2022.109327
G. Nuñez, R. (2017). Antecedents and Consequences of CSR Reporting by Corporations : The Role of Management Strategy and Organization Characteristics.
Guo, L., Cao, Y., Qu, Y., & Tseng, M. L. (2022). Developing sustainable business model innovation through stakeholder management and dynamic capability: A longitudinal case study. Journal of Cleaner Production. DOI: https://doi.org/10.1016/j.jclepro.2022.133626
Jermsittiparsert, K., Sriyakul, T., & Sangperm, N. (2019). The Influence of Customer and Technology Supply Chain Integration on Social Sustainable Performance with Moderating Role of Organizational Structure.
Kitsikopoulos, C. (2018). Strategic environmental risk management in South African companies.
Le, T. T. (2022). How do corporate social responsibility and green innovation transform corporate green strategy into sustainable firm performance? Journal of Cleaner Production. DOI: https://doi.org/10.1016/j.jclepro.2022.132228
Li, F., Zhang, H., Weng, L., & Yan, H. (2024). A meta-analysis of the causal interpretation of enterprise green innovation: A structural theoretical model. DOI: https://doi.org/10.1016/j.heliyon.2024.e29889
Li, W., Yaseen Bhutto, M., Waris, I., & Hu, T. (2023). The Nexus between Environmental Corporate Social Responsibility, Green Intellectual Capital and Green Innovation towards Business Sustainability: An Empirical Analysis of Chinese Automobile Manufacturing Firms. DOI: https://doi.org/10.3390/ijerph20031851
Li, Z., Rasool, S., Cavus, M. F., & Shahid, W. (2024). Sustaining the future: How green capabilities and digitalization drive sustainability in modern business. Heliyon, 10(1). DOI: https://doi.org/10.1016/j.heliyon.2024.e24158
Luo, F., Wang, C., Luo, S., Tong, Q., & Xu, L. (2024). Optimizing natural resource markets: Accelerating green growth in the economic recovery. Resources Policy. DOI: https://doi.org/10.1016/j.resourpol.2024.104648
Mohammed Ahmed Zaid, W., & Zafar Yaqub, M. (2024). The prolificacy of green transformational leadership in shaping employee green behavior during times of crises in small and medium enterprises: a moderated mediation model.
Pandian Ganapathy, S., Natarajan, J., Gunasekaran, A., & Subramanian, N. (2014). Influence of eco-innovation on Indian manufacturing sector sustainable performance. DOI: https://doi.org/10.1080/13504509.2014.907832
Portocarrero, F. F., & Burbano, V. C. (2024). The effects of a short-term corporate social impact activity on employee turnover: Field experimental evidence. Management Science. DOI: https://doi.org/10.1287/mnsc.2022.01517
Rajabian Tabesh, A., Batt, P., & Butler, B. (n.d.). Modelling the Impact of Environmental and Organizational Determinants on Green Supply Chain Innovation and Performance.
Sarango-Lalangui, P., Castillo-Vergara, M., Carrasco-Carvajal, O., & Durendez, A. (2023). Impact of environmental sustainability on open innovation in SMEs: An empirical study considering the moderating effect of gender. DOI: https://doi.org/10.1016/j.heliyon.2023.e20096
SO Nadarajah, G., & Aiedah Binti Sabri, N. (2016). Green Supply Chain: Challenges and Practical Issues.
Sun, Y., Gao, P., Tian, W., & Guan, W. (2023). Green innovation for resource efficiency and sustainability: Empirical analysis and policy. Resources Policy. DOI: https://doi.org/10.1016/j.resourpol.2023.103369
Tang, Y., Qi, Y., Zhou, F., & Hua, L. (2023). A study on the differential effects of heterogeneous environmental regulations on the green transformation of Chinese manufacturing enterprises under “Double Carbon” target. DOI: https://doi.org/10.21203/rs.3.rs-3667338/v1
Ullah, S., Ahmad, N., Ullah Khan, F., Badulescu, A., & Badulescu, D. (2021). Mapping Interactions among Green Innovations Barriers in Manufacturing Industry Using Hybrid Methodology: Insights from a Developing Country. DOI: https://doi.org/10.3390/ijerph18157885
Voyko, D. V., & Voyko, A. V. (2022). Corporate social responsibility and sustainable development in the context of environmental challenges. Вестник университета. DOI: https://doi.org/10.26425/1816-4277-2022-4-13-19
Zana, P. E. (2016). Key Success Factors for Sustainable Strategic IS Planning and IT Infrastructure.
Zhao Wang, Y., & Ahmad, S. (2024). Green process innovation, green product innovation, leverage, and corporate financial performance; evidence from system GMM. DOI: https://doi.org/10.1016/j.heliyon.2024.e25819
Zhu, Y., Sun, Z., Zhang, S., & Wang, X. (2021). Economic Policy Uncertainty, Environmental Regulation, and Green Innovation—An Empirical Study Based on Chinese High-Tech Enterprises. DOI: https://doi.org/10.3390/ijerph18189503
