Corporate sustainability and innovation: Integrating strategic management approach
1 Rome Business School, Estonia.
2 University of Buea, Yaounde, Cameroon.
3 ITALCONSULT, Doha, Qatar.
4 Independent Researcher, Douala, Cameroon.
5 Independent Researcher, Lagos, Nigeria.
Review Article
World Journal of Advanced Research and Reviews, 2024, 23(03), 270–284
Article DOI: 10.30574/wjarr.2024.23.3.2669
Publication history:
Received on 22 July 2024; revised on 28 August 2024; accepted on 31 August 2024
Abstract:
This paper investigates the critical integration of sustainability and innovation within strategic management frameworks, with a particular focus on educational institutions. The purpose of the study is to explore how these elements can drive long-term success and resilience by aligning environmental, social and economic objectives with business goals. Employing a comprehensive literature review and qualitative analysis, the study examines theoretical foundations, case studies and best practices across various sectors.
Key strategies identified include the adoption of advanced technologies such as artificial intelligence and data analytics, continuous professional development for educators and active stakeholder engagement. The research also underscores the necessity of strategic management decisions and a collegial management format to effectively address the challenges and opportunities presented by technological advancements.
Main findings reveal that a multifaceted approach involving clear goals, timelines and metrics for success is essential for effective digital transformation. The involvement of all stakeholders and fostering a culture of innovation are critical for sustaining these efforts. The study concludes that educational institutions must develop comprehensive digital transformation plans and embrace continuous improvement to remain competitive in the digital era.
The paper recommends that institutions adopt strategic frameworks that incorporate technological, pedagogical and managerial innovations. By doing so, they can enhance resilience, competitiveness and alignment with broader sustainable development goals. This integrative approach promises to significantly improve educational outcomes and institutional efficiency. By leveraging these strategies, educational institutions can better navigate the complexities of the digital era and contribute meaningfully to sustainable development objectives, ensuring long-term viability and success.
Keywords:
Digital Transformation; Sustainability; Innovation; Strategic Management; Education; Stakeholder Engagement
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Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0