Path to sustainable competitive advantage: integrating environmental, social, and governance principles in strategic resource management
DOI:
https://doi.org/10.37497/2965-7393.SDGs-Countries.v4.n00.26Keywords:
Product Innovation, Strategic Resources, Furniture Industry, Sustainable Competitive Advantage, Environmental, Social, and Governance (ESG) PrinciplesAbstract
Purpose of the Study: This research seeks to explore the dynamic relationship between product innovation and strategic resource utilization in furniture enterprises, particularly in the context of achieving sustainable competitive advantage. The aim is to pinpoint the key resources that precede and facilitate innovation.
Methodology/Approach: Utilizing a quantitative and descriptive approach, this study involved a survey conducted with 1067 companies in the Brazilian furniture industry. The data was analyzed using Structural Equation Modeling, providing a robust framework for understanding the intricate dynamics at play.
Originality/Relevance: Bridging a gap in empirical research, this study delves into the critical link between product innovation and strategic resources. It also examines the influence of Environmental, Social, and Governance (ESG) sustainability principles in the realm of new product development, a relatively unexplored area in current literature.
Key Findings: The empirical findings of the study indicate that product innovation is intricately linked to the strategic use of resources, identifying these as key antecedents to innovation in the furniture industry.
Theoretical/Methodological Contributions: This research contributes significantly to the broader academic discourse by advancing our understanding of the antecedents of product innovation. It highlights the pivotal role of strategic resources in enhancing innovative capabilities and driving sustainable product innovation.
Social Contributions/To Management: From a managerial perspective, this study offers valuable insights into decision-making processes. It underscores that success in new product development is a vital competitive edge, particularly when linked to strategic resource allocation and adherence to ESG principles.
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