Superior Innovations as a Responsible Answer to The Contemporary Business Challenges

Vuk Mirčetić (), Svetlana Vukotić and Darjan Karabašević ()
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Vuk Mirčetić: Assistant Professor, Faculty of Applied Management, Economics and Finance (MEF)

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Abstract: Innovation is an unavoidable and central theme of every business, especially modern business. Companies are motivated to proactively engage in responsible innovation because they expect it to contribute to better performance, increase productivity, open new markets and reduce costs. Eco-innovation strives to develop more renewable and sustainable technologies and reduce the negative impact on the environment, consequently making organisations more competitive in optimising environmental and financial performance. This paper aims to point out the elements and importance of the existence and use of different modalities of innovation to sustainability and the general assumptions for building a comparative advantage. This analysis domain in the paper is based on the contribution of specific functions within an organisation in achieving superior innovation. All considerations can be useful to the interested professional and scientific public.

Keywords: Competitive advantage eko-inovacija; održiva inovacija; financijski učinak; vrhunska inovacija; konkurentska prednost JEL klasifikacija: O30; Q01; Superior innovation; Financial performance; Sustainable innovation; Pregledni rad / Scientific Review UDK / UDC 001.895 Eco-innovation; Pregledni rad / Scientific Review UDK / UDC 001.895 Eco-innovation Sustainable innovation Financial performance Superior innovation Competitive advantage eko-inovacija održiva inovacija financijski učinak vrhunska inovacija konkurentska prednost JEL klasifikacija: O30 Q01 (search for similar items in EconPapers)
Date: 2022-04
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Published in Proceedings of PAR International Leadership Conference PILC 2022 - Strategic Leadership (pp. 276-289). PAR University College, Croatia., Apr 2022, Rijeka, Croatia

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