| Title | The Importance of Sustainable Innovation When Defining Corporate Strategy |
|---|---|
| ID_Doc | 66915 |
| Authors | Machado, G; Loio, D; Sousa, D; Lajoso, J; Au-Yong-Oliveira, M |
| Title | The Importance of Sustainable Innovation When Defining Corporate Strategy |
| Year | 2018 |
| Published | |
| Abstract | In an increasingly competitive and dynamic world where globalization, information and technology are commonly accepted as influential and determining factors of organizational culture and performance, it becomes imperative for organizations to stand out and gain an advantage over their competitors. This scenario transformation created a greater and more exquisite demand as concerns the average customer and it is now understood that a competitive advantage gained does not necessarily prevail over time. Therefore, organizations must be flexible and learn to adapt easily and rapidly to changes in order to create a sustainable position. Furthermore, the ability to be different, to be innovative, and to create unique products, services, experiences, or a combination of all three, may be viewed as a booster of competitive advantages. In this context: 1. When does innovation begin or should it begin? 2. Is innovation an organizational goal or a philosophy? 3. What makes an organization innovative? This study focuses on innovation as a precursor and defining agent in the development of a business model. First, a brainstorming session was conducted as an exploratory qualitative research effort, with eighteen participants studying innovation and technology management in Portugal (the participants were probed for their views on the three questions above). Additionally, a questionnaire was administered to Portuguese millennials (171 valid responses), with the goal of perceiving potential changes in the national culture that could impact the national innovation mindset. The results were quite surprising and reveal a significant change since the original questionnaire (led by Hofstede) was administered in Portugal. |
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