Retro-Innovation and Corporate Social Responsibility

Abstract

Abstract:The paper deals with the retro-innovation and their importance to corporate social responsibility (CSR). Corporate social responsibility is a process with the aim to encourage a positive impact through activities on the environment, consumers, employees, communities, and all other stakeholders of the public sphere. The accelerated rate of technological and social change influences on the society. The main social problems are symptoms of future shock. Retro-innovation trend is emerging against an accelerating backdrop of "datafication". New products are designed to connect customers with the past in ways that are nostalgic, interactive and environmental. CSR thanks to the retroinnovation encourages has a positive impact on the all stakeholders and eliminates the future shock.

Innovation for sustainable development in the food industry: Retro and forward‐looking innovation approaches to improve quality and healthiness

“…This approach is consistent with the existing literature addressing that retro-innovation may become a competitive tool in global markets because of the feasibility of faster development, known business environment, and sustainable resource usage (Loucanova et al, 2015). Thus, the innovation also involved transferring traditional concepts, highly valued by consumers, into large-scale production complemented with investments in technological innovations.…”

“…Through the within-and the cross-case analyses, two main approaches to innovation for sustainable development were identified, consistently with the indication of literature (Klewitz & Hansen, 2014;Loucanova et al, 2015), as summarized in Table 2. We identified several innovations for sustainability deployed by the companies in our sample and we classified them in two categories according to their relation to quality and healthiness.…”

“…This retro-innovation approach is said to be appealing to consumers as they already know the product or service, and it is attractive to companies as less capital is needed, costs can be reduced, and quicker investment recovery can be achieved, thereby enhancing economic sustainability (Loucanova et al, 2015). This retro-innovation approach is said to be appealing to consumers as they already know the product or service, and it is attractive to companies as less capital is needed, costs can be reduced, and quicker investment recovery can be achieved, thereby enhancing economic sustainability (Loucanova et al, 2015).…”

“…Innovation theory and sustainability come together if firms adopt innovation to improve sustainability when pushed by external pressures or challenges (Kraatz & Zajac, 1996;Wu, 2017). New ventures and process or product innovations can have positive impacts on the environment, workers, and consumers and, at the same time, can lower production or transportation costs (Klewitz & Hansen, 2014;Loucanova, Parobek, & Kalamarova, 2015). New ventures and process or product innovations can have positive impacts on the environment, workers, and consumers and, at the same time, can lower production or transportation costs (Klewitz & Hansen, 2014;Loucanova, Parobek, & Kalamarova, 2015).…”

“…The theory explains how a rapid improvement of the results could be achieved when companies deal with pressures to innovate. New ventures and process or product innovations can have positive impacts on the environment, workers, and consumers and, at the same time, can lower production or transportation costs (Klewitz & Hansen, 2014;Loucanova, Parobek, & Kalamarova, 2015).…”