Corporate Innovation Strategies

Introduction

Human behavior has always been evaluated, both in terms of its effectiveness and acceptability. Companies are not immune to this type of behavior (Pasquero 2007). The effective component of corporate behavior, which is associated with financial performance, has always been at the heart of corporate discourse. This performance has led companies to only focus on innovation strategies that are likely to further enhance their competitiveness and therefore their profitability. Yet, increasingly, the acceptable dimension of their activities for external and internal stakeholders is also becoming a decisive strategic issue for companies. In recent years, there has been an expectation from consumers that a company’s brands should not only offer them functional advantages, but that companies should also invest in corporate social responsibility (CSR) initiatives, that is, community initiatives. Since World War II, through their activities to create value (profit), multinationals have generated significant growth that has made it possible to significantly reduce the rate of global poverty and to create positive externalities, such as new jobs, new services and state budgetary contributions through various taxes (Kaplan et al. 2018).

Unfortunately, this growth has not benefited all populations. In developed economies, the most recent gains have benefitted a small proportion of the population, while many members of the working, rural and urban classes have suffered as a result ...