Authors: Khalid Rasheed Memon; Say Keat Ooi
Addresses: Graduate School of Business, Universiti Sains Malaysia, 11800 Penang, Malaysia ' Graduate School of Business, Universiti Sains Malaysia, 11800 Penang, Malaysia
Abstract: Of late, innovation that underpins the fourth industrial revolution is rapidly gaining momentum around the world. While the fourth industrial revolution and innovations are radically changing the way people live and work, solving complex social, environmental and economic challenges; innovation alone is not enough to last long nor bringing fruitful conclusion to unforeseen issues. Innovation flourishes and may be a quick fix, but not all innovations are responsible and sustainable. As the global community has become increasingly aware of the importance of sustainable development, a holistic approach is needed to integrate innovation and social responsibility to solve the various sustainability issues. This paper reiterates the notion of responsible innovation in the business context. Responsible innovation is coupled with governance and innovation approaches that embrace sustainability. It is the novel and useful innovation that favours the public. This paper offers insights in mapping out future directions for responsible business practices.
Keywords: responsible innovation; corporate social responsibility; CSR; corporate sustainability; governance; fourth industrial revolution.
International Journal of Sustainable Strategic Management, 2022 Vol.10 No.1, pp.45 - 56
Received: 10 Jun 2022
Accepted: 30 Jun 2022
Published online: 10 Feb 2023 *