Sustainability-Oriented Innovation Foresight in International New Technology Based Firms

Abstract

Rapid technological advances give rise to the development of New Technology-Based Firms (NTBFs) which are focused on technology-based business models. One of the concerns is the changing pace of technology adoption and its impact on shortening the life cycle of goods and services based on technology. Technology tends to create more integration among communities, businesses, goods, and services. This integration can be seen in the substantial increase of firms, especially NTBFs, striving to improve international relations. In this regard, addressing the sustainability dimensions in light of technological change is of universal interest. Some studies highlight the role of technology in terms of its environmental impacts, whereas others describe technology as the main driving force of businesses towards innovation, which can lead to sustainability. This paper aims to examine international NTBFs to determine the factors, key drivers, and uncertainties impacting sustainability-oriented innovations concerning their encounter with technology and ultimately plan future scenarios for international NTBFs based on sustainability-oriented innovations. The description of the scenarios shows the importance of innovation development in digital technologies and the expansion of international relations, which is realized by using digital platforms. In addition to accelerating knowledge and innovation development to gain more key partners, we would observe target market expansion, cost reduction, and sustainability growth for international NTBFs. Identifying drivers and uncertainties and the future-oriented approach of this research provide insight to International NTBFs owners into realizing sustainability-oriented innovation by increasing their awareness of the opportunities and interventions to build capacity at the conceptualization and project management levels.