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Perspective Chapter: Sustainability and Corporate Innovation

In: Corporate Social Responsibility in the 21st Century

Author

Listed:
  • Pattanaporn Chatjuthamard
  • Pattarake Sarajoti
  • Suwongrat Papangkorn

Abstract

Sustainable development is one of the prominent goals promoted by the United Nations (UN) and identifies innovation as one of the important elements. Therefore, sustainable development is a combination of both developmental and environmental imperatives through innovation, implying a new way of science incorporating the technology integration and social philosophy. This chapter discusses how sustainability creates business opportunities and be counted toward the future investment for the firms. It is the path leading from creative thinking and corporate innovation. Thus, the relationship between corporate innovation and sustainability plays a vital role for firms to gain competitive advantages such as gaining value creation, creating cooperation value with the stakeholders, tapping into new markets and customer segments, and creating a transformational solution. Firms can be sustainable not only by profit maximization, but also address the maximization of the interests' stakeholders by not causing any impact on nature and environmental resources.

Suggested Citation

  • Pattanaporn Chatjuthamard & Pattarake Sarajoti & Suwongrat Papangkorn, 2023. "Perspective Chapter: Sustainability and Corporate Innovation," Chapters, in: Muddassar Sarfraz (ed.), Corporate Social Responsibility in the 21st Century, IntechOpen.
    • Handle: RePEc:ito:pchaps:279299
    DOI: 10.5772/intechopen.108457
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    More about this item

    Keywords

    corporate innovation; innovation performance; sustaining innovation; text-based corporate innovation; sustainability;
    All these keywords.

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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