This article examines the critical interplay between strategy, innovation, and law, emphasising the importance of aligning these elements for sustainable development. It explores how strategic planning and innovation serve as key drivers in economic and societal progress, while also highlighting the necessity of operating within a robust legal and ethical framework. Through a comprehensive literature review, the article discusses the impact of strategic planning, the catalytic role of innovation in economic growth, and the challenges and opportunities presented by legal frameworks in governing these domains. Case studies of companies like Apple, Tesla, and Patagonia illustrate the practical application of these concepts. The article further delves into the dynamic nature of legal frameworks, advocating for their evolution in response to rapid technological advancements and strategic shifts. It concludes by recommending a balanced approach that fosters innovation and strategic growth within the confines of adaptable, forward-looking legal and ethical frameworks, ensuring that development is both responsible and beneficial to society.
References
[1]
Abakare, C. O. (2021). Kantian Ethics towards Justifiable Business and Trade Practices: Envisaging a Humanitarian Society. Pinisi Business Administration Review, 3, 1-8. https://doi.org/10.26858/pbar.v3i1.20141
[2]
Albasoos, H., & Al Musallami, N. (2020). The Conflict between Apple and Samsung over Patents and Copyrights. Bussecon Review of Social Sciences, 2, 1-17. https://doi.org/10.36096/brss.v3i3.206
[3]
Ambec, S., & Lanoie, P. (2008). Does It Pay to Be Green? A Systematic Overview. The Academy of Management Perspectives, 22, 45-62. https://doi.org/10.5465/amp.2008.35590353
[4]
Bansal, P., & Roth, K. (2000). Why Companies Go Green: A Model of Ecological Responsiveness. Academy of Management Journal, 43, 717-736.
[5]
Booth, W. C., Colomb, G. G., & Williams, J. M. (2016). The Craft of Research. University of Chicago Press. https://doi.org/10.7208/chicago/9780226239873.001.0001
[6]
Bryman, A. (2016). Social Research Methods. Oxford University Press.
[7]
Buck, M., & Hamilton, C. (2011). The Nagoya Protocol on Access to Genetic Resources and the Fair and Equitable Sharing of Benefits Arising from Their Utilization to the Convention on Biological Diversity. RECIEL (Review of European, Comparative & International Environmental Law), 20, 47-61. https://doi.org/10.1111/j.1467-9388.2011.00703.x
[8]
Cadwalladr, C., & Graham-Harrison, E. (2018). Revealed: 50 Million Facebook Profiles Harvested for Cambridge Analytica in Major Data Breach. The Guardian. https://www.theguardian.com/news/2018/mar/17/cambridge-analytica-facebook-influence-us-election
[9]
Carroll, A. B. (1991). The Pyramid of Corporate Social Responsibility: Toward the Moral Management of Organizational Stakeholders. Business Horizons, 34, 39-48. https://doi.org/10.1016/0007-6813(91)90005-G
[10]
Chouinard, Y. (2016). Let My People Go Surfing: The Education of a Reluctant Businessman. Penguin Books.
[11]
Christensen, C. M. (1997). The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail. Harvard Business Review Press.
[12]
de Almeida, P. G. R., dos Santos, C. D., & Farias, J. S. (2021). Artificial Intelligence Regulation: A Framework for Governance. Ethics and Information Technology, 23, 505-525. https://doi.org/10.1007/s10676-021-09593-z
[13]
De Filippi, P., & Wright, A. (2018). Blockchain and the Law: The Rule of Code. Harvard University Press. https://doi.org/10.4159/9780674985933
[14]
Dempere, J., Qamar, M., Allam, H., & Malik, S. (2023). The Impact of Innovation on Economic Growth, Foreign Direct Investment, and Self-Employment: A Global Perspective. Economies, 11, Article No. 182. https://doi.org/10.3390/economies11070182
[15]
Ebers, M., & Navas, S. (2020). Algorithms and Law. Cambridge University Press. https://doi.org/10.1017/9781108347846
[16]
Elkington, J. (1997). Cannibals with Forks: The Triple Bottom Line of 21st Century Business. Capstone Publishing Limited. https://doi.org/10.1002/tqem.3310080106
[17]
European Commission (2017). Antitrust: Commission Fines Google €2.42 Billion for Abusing Dominance as Search Engine by Giving Illegal Advantage to Own Comparison Shopping Service.
[18]
European Commission, High-Level Expert Group on Artificial Intelligence (2019). Ethics Guidelines for Trustworthy AI.
[19]
Fagerberg, J. (2003). Innovation: A Guide to the Literature.
[20]
Fatima, T., & Elbanna, S. (2023). Corporate Social Responsibility (CSR) Implementation: A Review and a Research Agenda towards an Integrative Framework. Journal of Business Ethics, 183, 105-121. https://doi.org/10.1007/s10551-022-05047-8
[21]
Freeman, C., & Soete, L. (2009). Developing Science, Technology and Innovation Indicators: What We Can Learn from the Past. Research Policy, 38, 583-589. https://doi.org/10.1016/j.respol.2009.01.018
[22]
Gilfanova, I. (2021, June 28). How Business Can Align with Sustainable Development Goals. Schneider Electric. https://www.se.com/ww/en/insights/next-generation-automation/industrial-sustainability/6-ways-business-can-align-with-sustainable-development-goals.jsp
[23]
Goyal, A. (2021). A Critical Analysis of Porter’s 5 Forces Model of Competitive Advantage. https://ssrn.com/abstract=3765758
[24]
Greenleaf, G. (2023). Global Data Privacy Laws 2023: 162 National Laws and 20 Bills. Privacy Laws and Business International Report (PLBIR), 181, 2-4. https://doi.org/10.2139/ssrn.4426146
[25]
Harper, C. M., & Zhang, S. S. (2021). Legal Tech and Lawtech: Towards a Framework for Technological Trends in the Legal Services Industry. In H. Gimpel, et al. (Eds.), Market Engineering (pp. 183-197). Springer. https://doi.org/10.1007/978-3-030-66661-3_11
[26]
Hart, C. (1998). Doing a Literature Review: Releasing the Social Science Research Imagination. SAGE Publications.
[27]
Heldeweg, M. A., & Kica, E. (2012). Regulating Technological Innovation: A Multidisciplinary Approach. Palgrave Macmillan. https://doi.org/10.1057/9780230367456
[28]
Heller, M. A., & Eisenberg, R. S. (1998). Can Patents Deter Innovation? The Anticommons in Biomedical Research. Science, 280, 698-701. https://doi.org/10.1126/science.280.5364.698
[29]
Jiang, F., Jiang, Y., Zhi, H., Dong, Y., Li, H., Ma, S., & Wang, Y. (2017). Artificial Intelligence in Healthcare: Past, Present and Future. Stroke and Vascular Neurology, 2, e000101. https://doi.org/10.1136/svn-2017-000101
[30]
Jinek, M., Chylinski, K., Fonfara, I., Hauer, M., Doudna, J. A., & Charpentier, E. (2012). A Programmable Dual-RNA-Guided DNA Endonuclease in Adaptive Bacterial Immunity. Science, 337, 816-821. https://doi.org/10.1126/science.1225829
[31]
Kant, I. (2002). Groundwork for the Metaphysics of Morals (Edited and Translated by A. W. Wood, with Essays by J. B. Schneewind, M. Baron, S. Kagan, & A. W. Wood.). Yale University Press.
[32]
Karnow, C. E. A. (1996). Liability for Distributed Artificial Intelligence. Berkeley Technology Law Journal, 11, 147-204.
[33]
Kramer, M. R., & Porter, M. E. (2006). Strategy and Society: The Link between Competitive Advantage and Corporate Social Responsibility. Harvard Business Review, 84, 78-92.
[34]
Lemley, M. A. (2005). Property, Intellectual Property, and Free Riding. Texas Law Review, 83, 1031. https://doi.org/10.2139/ssrn.582602
[35]
Lerner, J. (1994). The Importance of Patent Scope: An Empirical Analysis. RAND Journal of Economics, 25, 319-333. https://doi.org/10.2307/2555833
[36]
Lessig, L. (2006). Code: Version 2.0. Basic Books.
[37]
Ludlow, K., Bowman, D. M., Gatof, J., & Bennett, M. G. (2015). Regulating Emerging and Future Technologies in the Present. Nanoethics, 9, 151-163. https://doi.org/10.1007/s11569-015-0223-4
[38]
Mittelstadt, B. et al. (2016). The Ethics of Algorithms: Mapping the Debate. Big Data & Society, 3, 1-21. https://doi.org/10.1177/2053951716679679
[39]
Moor, J. H. (2006). The Nature, Importance, and Difficulty of Machine Ethics. IEEE Intelligent Systems, 21, 18-21. https://doi.org/10.1109/MIS.2006.80
[40]
Nuffield Council on Bioethics (2016). Ethics Review Identifies Top Two Challenges for Genome Editing. Nuffield Council on Bioethics. https://www.nuffieldbioethics.org/news/ethics-review-identifies-top-challenges-genome-editing
[41]
OECD (2015). The Innovation Imperative: Contributing to Productivity, Growth and Well-Being.
[42]
Porter, M. E. (1980). Competitive Strategy: Techniques for Analyzing Industries and Competitors. The Free Press.
[43]
Posner, R. A. (2005). Intellectual Property: The Law and Economics Approach. Journal of Economic Perspectives, 19, 57-73. https://doi.org/10.1257/0895330054048704
[44]
Reed, C. (2012). Making Laws for Cyberspace. Oxford University Press.
[45]
Reuter, P. (2018). The EU General Data Protection Regulation (GDPR). EPSU.
[46]
Richards, N. M., & Hartzog, W. (2017). Privacy’s Blueprint: The Battle to Control the Design of New Technologies. Harvard University Press.
[47]
Rock, E. B. (2015). Corporate Law Doctrine and the Legacy of American Legal Realism. University of Pennsylvania Law Review, 163, 2019-2053.
[48]
Schumpeter, J. A. (1942). Capitalism, Socialism, and Democracy. Harper & Brothers.
[49]
Si, H., Loch, C., & Kavadias, S. (2023). A New Approach to Strategic Innovation: A Tool for Connecting Your Projects with Your Goals. Harvard Business Review. https://hbr.org/2023/09/a-new-approach-to-strategic-innovation
[50]
Sinnaiah, T., Adam, S., & Mahadi, B. (2023). A Strategic Management Process: The Role of Decision-Making Style and Organisational Performance. Journal of Work-Applied Management, 15, 37-50. https://doi.org/10.1108/JWAM-10-2022-0074
[51]
Snyder, B. (2019, June 24). How Innovation Drives Economic Growth. Stanford Graduate School of Business. https://www.gsb.stanford.edu/insights/how-innovation-drives-economic-growth
[52]
Stone, B. (2013). The Everything Store: Jeff Bezos and the Age of Amazon. Little, Brown and Company.
[53]
Stringham, E., Miller, J. K., & Clark, J. R. (2015). Overcoming Barriers to Entry in an Established Industry: Tesla Motors. California Management Review, 57, 85-103. https://doi.org/10.1525/cmr.2015.57.4.85
[54]
Talesh, S. A., Mertz, E. E., & Klug, H. (2021). Introduction—Modern Legal Realism: Paving the Way for Theoretically-Informed Empirical Research in the Legal Academy. In S. Talesh, E. Mertz, & H. Klug (Eds.), Research Handbook on Modern Legal Realism (pp. 1-39). UC Irvine School of Law Research Paper No. 2020-56, Edward Elgar. https://ssrn.com/abstract=3671933
[55]
Teece, D. J. (2010). Business Models, Business Strategy and Innovation. Long Range Planning, 43, 172-194. https://doi.org/10.1016/j.lrp.2009.07.003
[56]
Unilever (2020). Annual Report and Accounts 2020. https://www.unilever.com/files/92ui5egz/production/372ab0178e9555aa5010f15aed8295af77149fe3.pdf
[57]
Weiss, J. W. (2022). Business Ethics: A Stakeholder and Issues Management Approach. Berrett-Koehler Publishers.
[58]
Wessel, M., & Helmer, N. (2020, March 10). A Crisis of Ethics in Technology Innovation. MIT Sloan Management Review. https://sloanreview.mit.edu/article/a-crisis-of-ethics-in-technology-innovation/
[59]
World Economic Forum (WEF) (2022, March). Regulatory Technology for the 21st Century (White Paper). In Collaboration with the Global Future Council on Agile Governance.
[60]
World Intellectual Property Organization (2019). Global Innovation Index.
[61]
Yip, W. S., Zhou, H., & To, S. (2023). A Critical Analysis on the Triple Bottom Line of Sustainable Manufacturing: Key Findings and Implications. Environmental Science and Pollution Research, 30, 41388-41404. https://doi.org/10.1007/s11356-022-25122-x
[62]
Yoffie, D. B., & Baldwin, C. (2018). Apple Inc. in 2018. Harvard Business School Case Study.
[63]
Zhao, Y. (2022, July 28). Legal Environment, Technological Innovation, and Sustainable Economic Growth. Frontiers in Psychology, 13, Article ID: 929359. https://doi.org/10.3389/fpsyg.2022.929359
[64]
Ziemnowicz, C. (2020). Joseph A. Schumpeter and Innovation. In E. G. Carayannis (Ed.), Encyclopedia of Creativity, Invention, Innovation and Entrepreneurship (pp. 1517-1522). Springer. https://doi.org/10.1007/978-3-319-15347-6_476
