The Importance of Green Innovation and Technologies for Sustainable Business in Asia: Issues and Challenges of the Contemporary Sustainable Business Models
Entrepreneurship and Green Finance Practices
ISBN: 978-1-80455-679-5, eISBN: 978-1-80455-678-8
Publication date: 14 December 2023
Abstract
This chapter examines the significance of green innovation and technologies for sustainable business in Asia, focussing on the issues and challenges confronted by contemporary sustainable business models. The concept of sustainable development is introduced, which seeks to minimize negative impacts on ecosystems and preserve the environment for future generations. This chapter's methodology entails a comprehensive review of existing literature and research on green innovation, green technology, and sustainable business models in Asia. The expansion of ‘green’ energy is directly proportional to the global demand for energy resources. Understanding how green innovation influences a company's capacity for sustainable development is essential for identifying the factors that influence sustainable business models and their economic consequences. Green innovation practices encompass a variety of factors, including government regulations, preferences, supplier competence, and consumer concerns. Green technologies, such as green human resource management (HRM) practices and green innovation practices, play a crucial role in attaining sustainable development by conserving energy, protecting the environment, and enhancing business efficiency. Businesses that adopt green innovation acquire a competitive edge and enhance their performance. This chapter emphasizes the importance of green innovation research and application for business stability in Asia, where sustainability and green concepts are acquiring momentum. Customer, government, and societal pressures further emphasize the significance of green innovation in businesses. For the success of ecological innovation practices, collaboration and knowledge-sharing among various stakeholders are crucial. The adoption of green innovation practices is influenced by external environmental impacts, stakeholder pressure, and organizational support. Green technology innovation, which concentrates on resource conservation, energy efficiency, and environmental protection, is crucial to the sustainability of a business. This chapter concludes by emphasizing the importance of business sustainability in achieving environmental and economic goals and assuring sustainable corporate development. Long-term success requires an understanding of the process of value creation, delivery, and capture within sustainable business models.
Keywords
Citation
Rahman, E.Z. and Ali Shah, S.H. (2023), "The Importance of Green Innovation and Technologies for Sustainable Business in Asia: Issues and Challenges of the Contemporary Sustainable Business Models", Raza, S.A., Tunio, M.N., Ali, M. and Puah, C.H. (Ed.) Entrepreneurship and Green Finance Practices, Emerald Publishing Limited, Leeds, pp. 163-180. https://doi.org/10.1108/978-1-80455-678-820231009
Publisher
:Emerald Publishing Limited
Copyright © 2024 Eman Zameer Rahman and Syed Haider Ali Shah. Published under exclusive licence by Emerald Publishing Limited