Sustainable value creation

Riikka Tapaninaho and Norma Rudolph

Chapter 72 in Elgar Encyclopedia of Innovation Management, 2025, pp 276-279 from Edward Elgar Publishing

Abstract: Value creation is a central part of innovation management. Especially, in the context of complex and urgent sustainability challenges, different kinds of organisations, including companies together with their stakeholders, must find ways to create multidimensional value that innovatively fulfil and integrate economic, social and ecological dimensions of sustainability. In innovation management terms, this means a shift from dominant, incremental innovation strategies to more rare, radical or even revolutionary strategies with greater potential for sustainability. As innovation management and processes involve various stakeholders that together cooperate for change, innovation management can be perceived as a highly relational activity occurring at multiple levels in society. This entry introduces the concept of response-ability and discusses, from a relational perspective, how organisations and companies together with their stakeholders can create more just and sustainable value through their innovations.

Keywords: Sustainable innovation; Stakeholder; Response-ability; Relational perspective (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035306442
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