Sustainable Innovation Management: Balancing Economic Growth and Environmental Responsibility

Sustainable innovation management (SIM) is increasingly recognized as a pivotal framework for addressing the dual challenges of economic growth and environmental responsibility. In response to escalating global pressures, this review explores how SIM can drive sustainable development by balancing profitability with ecological stewardship. Drawing on recent academic and industry sources, the paper examines the intersection of circular economy principles, emerging technologies, and policy frameworks in shaping sustainable innovation strategies. The review is structured around three key pillars: the integration of technologies, such as artificial intelligence, blockchain, and the Internet of things in sustainable operations; the influence of regulatory drivers, including carbon pricing and environmental, social, and governance standards; and empirical case studies that highlight both challenges and success factors in SIM adoption. By synthesizing real-world applications across sectors and geographies, this study provides qualitative insights and quantitative indicators (e.g., CO 2 reduction, return on investment, material reuse rates) to inform practical strategies for business leaders and policymakers. Addressing gaps such as the lack of global harmonization in sustainability metrics and the under-representation of developing economies, this review contributes to a more inclusive and actionable understanding of SIM. This paper concludes by offering future research directions and policy recommendations aimed at accelerating the transition toward sustainable and circular business models.