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The purpose of this article is to navigate the intricate balance between innovation and sustainability, pinpointing facilitating factors for their harmonious coexistence. It aims to guide firms toward a future where innovation drives progress while safeguarding the planet’s and its inhabitants’ well-being. Synthesizing the existing research, this study explores the impacts of various factors on sustainable innovation performance. The results highlight the positive associations of leadership roles, dynamic capabilities, stakeholder engagement, and social and environmental aspects with the firm’s innovation, providing insights for fostering sustainable innovation practices. This study proposes a framework that illustrates how factors impacting sustainable innovation intersect with theories studied in this article, such as the triple bottom line (TBL) and sustainability development theory (SDT). A systematic literature review (SLR) methodology is adopted to synthesize the knowledge and validate the research outcome to reach a conclusion. It will be beneficial to include sustainability both as a critical strategy for any firm’s growth and as a key part of the academic curriculum to create knowledge that will develop responsible leaders for a sustainable world. Future studies may utilize quantitative methods, like surveys, to empirically validate outcomes, offering numerical insights into factors influencing sustainable innovation within firms and enriching understanding of their impact and relationships.
Saxena et al. (Tue,) studied this question.