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The Impact of Innovation Strategy on Enterprise Competitive Advantage in the Digital Economy
- 1 Business and Economics, The University of Melbourne, Victoria, Melbourne, Carlton 3053, Australia
* Author to whom correspondence should be addressed.
Abstract
In the context of the rapid development of the global digital economy, most companies are reshaping their operations and competitive strategies. The rapid development of big data, artificial intelligence, blockchain and other technologies has pushed enterprises to adopt active innovation strategies, thereby enhancing competitiveness. This paper discusses the influence of innovation strategy on the competitive advantage of enterprises from three aspects: technology driving, market orientation and sustainable development. By analyzing the practices of companies such as Google, Amazon and Tesla, the study highlights the critical role of digital technology in innovation. This study finds that companies that integrate digital technologies into their operations and services, prioritize consumer needs and offer personalized solutions, and incorporate sustainability into their core strategies contribute to long-term growth and competitiveness. This paper recommends that businesses build adaptable innovation strategies that not only address challenges but also seize future opportunities through digital transformation integration, ecosystem collaboration and sustainable practices to drive continued progress in the global economy.
Keywords
digital economy, innovation strategy, enterprise competitive advantage, digital transformation
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Cite this article
Zhang,S. (2025). The Impact of Innovation Strategy on Enterprise Competitive Advantage in the Digital Economy. Advances in Economics, Management and Political Sciences,166,15-20.
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