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This chapter offers novel insights into how global corporations can innovate to tackle the global waste crisis and gain sustainable competitive positions. Using two of the most prominent types of global waste crises – food and plastic wastes – we discuss the dilemma of food and plastic waste, why innovations in global firms are needed to address them, and argue that a different perspective among those firms is needed, one which conceptualizes the development, dissemination and use of innovations in waste management, and one which recognizes that innovations, thus, created contribute to advancing the creation of economic, environmental and social value. We conclude using an overarching conceptual framework that depicts the complexity of the new perspective.

This qualitative study explores how multinational enterprises (MNEs) approach sustainable innovation through the lens of innovation theory and doughnut economics. The study proposes a conceptual framework to evaluate the practices of businesses and the findings illustrate how sustainable innovation occurs within two MNEs. Based on interviews with professionals of two Swedish MNEs, responsible for sustainability, the study examines how sustainable innovations lead to the redesign of core business pillars and transforms the operating market for the MNE. Overall, this study makes a theoretical contribution by formulating an application of Raworth’s (2017) doughnut model to business strategy. It also provides practical insight into the dynamics of sustainable innovation, which aims to inform and inspire further progress in sustainable development by businesses and academia.