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Impact of innovation on sustainable development of organizations

Author

Listed:
  • Diana Baidoc

    (Management and Economic Engineering Department, Faculty of Machine Building, Technical University of Cluj-Napoca, Romania)

  • Laura Bacali

    (Technical University of Cluj-Napoca, Romania)

Abstract

The development of innovative products, services and technologies is a prerequisite for maintaining economic competitiveness in modern society. It is unlikely that only the long-term products remain on the free market, with the introduction of new or improved advanced technologies and services. In this context, we can speak of a strategic circle that must continually cover every department of a company. By focusing local and global efforts on companies, financial resources can be identified to support technological innovation and product innovation. As product development, technology development includes industrial research and experimental development, followed by technology transfer within the company to deliver high-performance products. New technologies are support for marketing, and marketing also plays a major role in selecting technology solutions and their recipients. Specialist literature offers many ideas on these issues: firstly, green marketing today has an important role to play in the economy, and the study of the dissemination of technological innovations in the field is in constant expansion. Renewable energy sources can be considered as radical innovations because each of them has changed the electricity production from the previous power. There are many statistical issues that explain this process of innovation.

Suggested Citation

  • Diana Baidoc & Laura Bacali, 2017. "Impact of innovation on sustainable development of organizations," Review of Applied Socio-Economic Research, Pro Global Science Association, vol. 14(2), pages 5-18, December.
    • Handle: RePEc:rse:wpaper:v:14:y:2017:i:2:p:5-18
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    References listed on IDEAS

    as
    1. Witold Kwasnicki, 1996. "Innovation regimes, entry and market structure," Journal of Evolutionary Economics, Springer, vol. 6(4), pages 375-409.
    2. World Commission on Environment and Development,, 1987. "Our Common Future," OUP Catalogue, Oxford University Press, number 9780192820808, Decembrie.
    3. Francesco Lamperti & Roberto Mavilia & Simona Castellini, 2017. "The role of Science Parks: a puzzle of growth, innovation and R&D investments," The Journal of Technology Transfer, Springer, vol. 42(1), pages 158-183, February.
    4. Robert M. Grant, 1996. "Prospering in Dynamically-Competitive Environments: Organizational Capability as Knowledge Integration," Organization Science, INFORMS, vol. 7(4), pages 375-387, August.
    5. Elena Simina Lakatos & Viorel Dan & Lucian Ionel Cioca & Laura Bacali & Andreea Maria Ciobanu, 2016. "How Supportive Are Romanian Consumers of the Circular Economy Concept: A Survey," Sustainability, MDPI, vol. 8(8), pages 1-17, August.
    6. Ehie, Ike C. & Olibe, Kingsley, 2010. "The effect of R&D investment on firm value: An examination of US manufacturing and service industries," International Journal of Production Economics, Elsevier, vol. 128(1), pages 127-135, November.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    green marketing; innovation; renewable energy; new technologies; sustainability management.;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • Q20 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - General
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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