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Innovation With Competitive Risk: A Locus of Sustainable Competitive Advantage in the Circular Economy
Abstract
This is the dawn of an innovation and knowledge-driven economy, and the volatile business environment is forcing the industries to undergo a paradigm shift. This is causing volatility of business parameters from value creation to value maximization through reduction of value loss., instead of merely focusing on the value creation. This value maximization gels with quality, binding the end outcomes of enterprise, and quality of these end outcomes cumulatively shows the dependability towards the various inputs like man, money, material, machine, and information to innovate and re-innovate and measure continuously. Without saturation and to create value continuously in circular motion for spiral growth in circular economy all dimensions needs to be innovative to gain sustainable competitive advantage (SCA). The chapter is a study of concepts and models to impel the SCA. It analyzes innovation as a measure driver for SCA with various types of risk associated with it in the context of the circular economy.
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