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Superior Innovations as a Responsible Answer to The Contemporary Business Challenges

Author

Listed:
  • Vuk Mirčetić

    (Assistant Professor, Faculty of Applied Management, Economics and Finance (MEF))

  • Svetlana Vukotić
  • Darjan Karabašević

Abstract

Innovation is an unavoidable and central theme of every business, especially modern business. Companies are motivated to proactively engage in responsible innovation because they expect it to contribute to better performance, increase productivity, open new markets and reduce costs. Eco-innovation strives to develop more renewable and sustainable technologies and reduce the negative impact on the environment, consequently making organisations more competitive in optimising environmental and financial performance. This paper aims to point out the elements and importance of the existence and use of different modalities of innovation to sustainability and the general assumptions for building a comparative advantage. This analysis domain in the paper is based on the contribution of specific functions within an organisation in achieving superior innovation. All considerations can be useful to the interested professional and scientific public.

Suggested Citation

  • Vuk Mirčetić & Svetlana Vukotić & Darjan Karabašević, 2022. "Superior Innovations as a Responsible Answer to The Contemporary Business Challenges," Post-Print hal-04905039, HAL.
    • Handle: RePEc:hal:journl:hal-04905039
    Note: View the original document on HAL open archive server: https://hal.science/hal-04905039v1
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    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development

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