The Role of Innovation in Sustainable Business Growth
Authors-Prof. (Dr.) Vellayan Srinivasan, Dr. Viji R, Dr.V.O.Kavitha
Keyword-Innovation, Sustainable Growth, Business Strategy, SMEs, Competitive Advantage
Innovation has become a critical driver of sustainable business growth in an increasingly competitive and dynamic global environment. This study explores the role of innovation in enhancing long-term organizational performance, environmental sustainability, and competitive advantage. Using a descriptive research design and secondary data analysis supported by a structured survey of 100 small and medium enterprises (SMEs), the study examines how product, process, and business model innovations contribute to sustainable growth. The findings reveal that organizations adopting innovative practices demonstrate higher operational efficiency, improved customer satisfaction, and stronger financial performance. The paper concludes that integrating innovation strategies with sustainability goals is essential for long-term business success.