Innovation in a post-pandemic environment: leveraging the power of strategic wisdom

Ariful Islam, Sazali Abd Wahab, Mazuwin Bt. Haja Maideen and Mohammad Imtiaz Hossain

International Journal of Management Concepts and Philosophy, 2024, vol. 17, issue 2, 161-186

Abstract: Innovation is recognised as a crucial component of growth in the post-pandemic period in order to lower the survival risk. In order to gain insights into the connection between exploitative and exploratory innovation and the sustainable competitive advantage of SMEs, this study intends to build a theoretical paradigm while emphasising the reinforcing role of strategic wisdom. A systematic mixed review analysis has been conducted, in which over 301 publications have been examined and reviewed by the authors. Additionally, brief findings from semi-structured interviews have been used to support the study's direction. The study's findings can improve businesses' competitiveness and differentiation in a post-pandemic environment. The paradoxical ambidextrous innovation of SMEs can be successfully directed by a manager or owner with an appropriate level of strategic wisdom to ensure a sustainable form of growth. The idea could also serve as the cornerstone for SMEs to accomplish sustainable development goals (SDGs).

Keywords: COVID-19; exploitative innovation; explorative innovation; strategic wisdom; spirituality; sustainable growth. (search for similar items in EconPapers)
Date: 2024
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