Innovation, Entrepreneurship, and Digital Transformation: Drivers of Sustainable Business Growth
Innovation, Entrepreneurship, and Digital Transformation: Drivers of Sustainable Business Growth

Author(s): Clemence Jenifer S., Suraj P. G., Marisennayya Senapathy
Subject(s): Politics / Political Sciences, Politics, Economy, Business Economy / Management, Economic policy, Socio-Economic Research
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: innovation; entrepreneurship; digital transformation; sustainable growth; economic growth
Summary/Abstract: In the current scenario of a swiftly changing global economy, innovation, entrepreneurship, and digital transformation epitomise interdependent forces that shape competitive advantage, business sustainability, and growth. It is innovation that energises the creation of unique products, services and processes that cater to upcoming societal and market needs. While Entrepreneurship provides the strategic vision and risk-taking ability needed to transform these innovations into viable ventures, digital transformation serves as the key enabler, leveraging data, technology, and connectivity to accelerate scalability and achieve global reach. The paper challenges the interconnections between these three arenas by examining cases of firms that have integrated digital technologies into their entrepreneurial models to pursue innovation- driven growth. The specific importance lies in how digital platforms, artificial intelligence, and automation are redefining business ecosystems, enabling small and medium-sized enterprises and startups to compete with established firms in international markets. In addition to this, the paper emphasises the policy and institutional frameworks essential for supporting innovation ecosystems, particularly in emerging economies, where digital transformation offers opportunities to advance traditional development stages. The paper concludes that continual growth in economic relations and business development centres on the alignment of innovation strategies, entrepreneurial initiatives, and digital transformation. This integration enhances organisational performance and significantly contributes to the sustainable and inclusive development of the economy from a global perspective.

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