This article explores the intricate relationship between strategy,
innovation, and legal frameworks, emphasising their collective importance in
fostering sustainable and ethical business practices. Through a comprehensive
literature review, detailed case studies, and empirical analysis, the study
examines how leading companies such as Apple, Tesla, Patagonia, and Unilever
successfully integrate strategic planning and innovation within robust legal
and ethical boundaries. The discussion highlights the critical role of adaptive
legal systems, the necessity of ethical guidelines, and the strategic
advantages of Corporate Social Responsibility (CSR) and the Triple Bottom Line
(TBL) principles.
The findings underscore that strategic planning must not only
focus on competitive advantage but also on creating value in a dynamic business
environment. Innovation, driven by technologies such as artificial intelligence
(AI), blockchain, and the Internet of Things (IoT), is identified as a key
driver of economic growth and societal progress. However, the rapid pace of
technological advancement often outstrips the development of corresponding
legal frameworks, necessitating flexible and principles-based regulation.
The article also discusses the practical challenges and opportunities
in aligning strategy, innovation, and law, with recommendations for
policymakers, business leaders, and legal experts. It calls for a collaborative
approach to lawmaking, the adoption of Regulatory Technology (RegTech), and the
integration of ethical considerations into business strategies. The limitations
of the study are acknowledged, including the scope of the literature reviewed
and the focus on large corporations in specific regions. Recommendations for
further research are provided, advocating for broader studies across diverse
industries and geographical contexts, primary data collection, and
cross-disciplinary collaboration.
This article provides valuable insights into how organisations can
navigate the complexities of modern business landscapes by harmonising
strategy, innovation, and legal frameworks to achieve sustainable and ethical
progress.
Author(s) Details
Gordian
Ifeanyi Nweke
Faculty of Business Management, Capella University, Minneapolis,
MN, USA.
Ogochukwu
Chidiebere Nweke|
School of Business, Leadership and Legal Studies (SBLL), Regent
University College of Science and Technology (RUCST), Accra, Ghana and Faculty
of Law, Governance and International Relations, Kings University College (KUC),
Accra, Ghana.
Please
see the book here:- https://doi.org/10.9734/bpi/bmerp/v3/1848
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