Is innovation strategy a catalyst to solve social problems? The impact of R&D and non-R&D innovation strategies on the performance of social innovation-oriented firms

Xiaowei Lu and Jiexiang Wang

Technological Forecasting and Social Change, 2024, vol. 199, issue C

Abstract: Innovation is essential for enterprises to discover new avenues and achieve sustainable development. The importance of research and development (R&D) and non-R&D innovation for social-innovation-oriented enterprises has been controversial, leading to a paradox in the research on these two innovation activities. To break the tension between R&D and non-R&D innovation, it is crucial for enterprises to integrate their resources, build innovation capabilities, and obtain dual performance. This study analyzes the impact of R&D and non-R&D innovation activities on the social and economic performance of enterprises guided by social innovation from 2010 to 2020. The results show that non-R&D innovation has a complementary effect on R&D innovation, which ultimately has a positive impact on both economic and social performance. Moreover, the lag effect is more significant than the current impact. The study confirms that social-innovation-oriented enterprises often face innovation resource constraints, and their choice of innovation activities can substantially influence their economic or social performance. Overall, this research provides theoretical explanations and practical insights helping social-innovation-oriented enterprises to navigate innovation paths.

Keywords: R&D innovation activity; Non-R&D innovation activity; Social performance; Economic performance; Social-innovation-oriented firms; Complementary effect (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:199:y:2024:i:c:s0040162523007059

DOI: 10.1016/j.techfore.2023.123020

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