Impact of Continuous Innovation on Sustainability

Business Project
1

ABSTRACT
Overview- The relevance and importance of corporate social responsibility (CSR) is highly
significant today in this capitalist economy, to ensure the sustainability of life and business in the
future.
Method - Here, interpretivism philosophy has been used and qualitative strategy is used. The
data is gathered through secondary data collection method to obtain data. Thus, journals, articles,
etc. will be analysed and data is gathered.
Findings- Continuous innovation increases firm competency and capability. They are able to
emphasis more on use of resources in efficient way. Besides that, it provides them new platforms
for growth and opportunity. Negative impact of continuous innovation on sustainability is
company requires huge funds and resources in order to implement innovation.
Conclusion - CSR model of Kottler, triple bottom line, etc. is applied by company which has
helped in gaining competitive advantage in market. Also, Starbucks measures outcomes obtained
from implementing practice and then compare it with set goals.
2

Table of Contents
ABSTRACT....................................................................................................................................2
INTRODUCTION...........................................................................................................................4
RESEARCH QUESTION...............................................................................................................4
METHODOLOGY..........................................................................................................................5
LITERATURE REVIEW................................................................................................................6
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
3

INTRODUCTION
Innovation has become a basic component and source for every organisation. Without
innovation it has become difficult for business to survive in market. Along with that, innovation
has enabled in making change in process, procedure, methods, developing new products and
services, etc. Besides that, it also provides a competitive edge to companies to maintain their
reputation and brand image in market. Moreover, in order to succeed for long term and to
compete with rival’s innovation is necessary. But in present times, various organisations are
focusing on sustainability (Ansari, and Modarress, 2019). This is because it is concern for firms
to provide eco friendly products and services to people. CSR allows firm to contribute towards
society and solve others issues as well. However, it has been found that there is great impact of
CSR on firm reputation and image. It not only allows in creating a positive brand image in minds
of people but also empower employees to utilise resource in effective way.
Besides that, there are several models and concepts of CSR which are applied by
organisation in order to fulfil social needs. Also, CSR matter a lot to business which allows to
focus on customer needs as well. In present times, innovation is also implemented in CSR. This
is done to boost company image in market. Here, new ways of using resources is applied that has
helped in saving cost and expenses. Furthermore, new products are produced that can be recycled
and decomposed in easier way. There are new goals and objectives that are formed by
companies. Also, long term vision is set in CSR to ensure that reputation is maintained. The
relevance and importance of corporate social responsibility (CSR) is highly significant today in
this capitalist economy, to ensure the sustainability of life and business in the future. In addition,
energy efficiency is new concept emerged in CSR. The businesses are able to interact with
stakeholder and identify their needs (Pieroni, McAloone, and Pigosso, 2019). Thus, it has given
insight to them regarding their needs.
RESEARCH QUESTION
Aim- To analyse impact of continuous innovation on sustainability. A case study on Starbucks.
Objectives –
 To examine role of innovation in sustainability
 To analyse impact of continuous innovation on sustainability
 To recommend practice of sustainability that can be applied.
4