1. Introduction

With the rapid development of global economy, digital economy, as a new economic form, is fundamentally changing the business model and market competition pattern of enterprises [1]. Cutting-edge technologies such as big data, artificial intelligence and blockchain, global enterprises are accelerating adaptation to market changes, optimizing resource allocation and enhancing competitiveness through innovation strategies [2,3]. Innovation strategy is not only an important driving force for companies to maintain sustained growth but also creates new opportunities in an uncertain market environment [4]. In the context of globalization, leading enterprises such as Google, Amazon and Tesla have successfully achieved market dominance through technological innovation, business model reform and consumer-oriented innovation strategies [5,6,7]. However, businesses also face many challenges when implementing innovation strategies, including the rapid iteration of technology, data privacy concerns, and changing market dynamics. Therefore, it is of great significance to explore how innovation strategy affects the competitiveness of enterprises, especially in the context of digital economy, for enterprises to maintain long-term competitive advantage. The purpose of this paper is to analyze the innovation strategy practice of global enterprises and reveal its important role in technology driving, consumer demand meeting and sustainable development. At the same time, this study hopes to provide theoretical guidance and practical reference for global enterprises to construct innovation strategies in digital transformation.

2. Core Concepts and Related Definition

2.1. Definition of Digital Economy

The digital economy is an economic form based on information and communication technologies (ICTs), whose core is to optimize resource allocation, improve the efficiency of economic activities, promote the development of innovation capacity and promote the comprehensive digital transformation of the social economy through the extensive application of digital technologies. Bukht and Heeks [8] emphasize that digital economy covers economic activities and business models based on digital technology, and ICT, as the infrastructure of digital economy, not only supports the transformation within the industry, but also guides the digital evolution of the entire economic system. This digital evolution has brought about profound changes in market structure, consumer behavior and industrial ecology, making companies need to make fundamental adjustments at the technical and organizational levels to adapt to the rapid development of the digital economy. Kosimov and Ruziboyeva [9] proposed a more systematic definition, pointing out that the core features of the digital economy lie in the efficient use of resources and the intelligence of economic activities. This intelligent economic activity not only relies on the application and innovation of digital technologies but also requires data-driven decision support and the full deployment of intelligent systems to promote the intelligent upgrading of business models and operational processes. In this context, the digital economy is not only the integration of technologies, but also an important strategic direction to promote the sustainable development of enterprises. By taking full advantage of digital tools and data assets, businesses are able to remain competitive in a complex and changing market environment and drive economic activity to new heights driven by innovation and efficiency.

2.2. Concepts of Innovation Strategy and Digital Transformation

Innovation strategy is defined as the cornerstone of a forward-looking organization, guiding companies to harness creativity to navigate the industry's changing landscape [10]. Research shows that innovation strategy is an important means for enterprises to obtain competitive advantages in the context of digital economy, and its core lies in improving resource integration ability and market adaptability through technological and organizational changes [4,11]. Specifically, innovation strategy requires enterprises to carry out in-depth layout in technology research and development, business model design and resource integration in order to achieve rapid response to the dynamic market environment and efficient capture of emerging opportunities. Teece et al. [12] further provided a theoretical basis for innovation strategy, emphasizing that enterprises need to constantly reconstruct their core competitiveness through innovation in a dynamic environment, especially in a rapidly changing environment (such as digital economy), how to realize flexible allocation and transformation of resources through dynamic capability theory.

The rapid development of digital technology makes it necessary to study digital transformation and enterprise innovation measures [2]. Digital transformation is not only the application process of technology, but also a profound strategic change, involving a comprehensive innovation in the organization, process, business model and culture of the enterprise. Research indicates that digital transformation-driven innovation has increasingly emerged as a crucial tool for enterprises to gain sustainable competitive advantages in their operations [13]. Through the deep integration of digital technology, enterprises can realize a comprehensive transition from the traditional model to the intelligent and data-driven model, creating new growth points and value sources for enterprises.

2.3. Dimensions of Enterprise Competitive Advantage

There are various dimensions of competitive advantage, among which resource advantage and market strength are the key factors. Technology and data are the core components of enterprise resource advantage. The adoption of emerging technologies by enterprises (such as artificial intelligence, cloud computing and big data analysis) can significantly improve the operational efficiency and innovation ability of enterprises, thus occupying a favorable position in the competition [14]. Powerful big data capabilities enable enterprises to identify, collect, store, and quickly analyze all kinds of data, laying the foundation for building data-driven competitive advantage [15]. In addition, consumer preferences and brand reputation constitute a firm's market power. By gaining a deep understanding of consumer needs and preferences, businesses can customize products and services to increase customer satisfaction and loyalty, thereby differentiating themselves in the market. At the same time, good brand image and corporate reputation are also important sources of competitive advantage. Not only do they influence consumers' purchasing decisions, but they can also increase a company's market share and long-term stability. By making comprehensive use of resource advantages and market advantages, enterprises can formulate effective competitive strategies to achieve sustainable competitive advantages.

As the study progressed, Verhoef et al. argued that competitive advantage gradually shifted from static resources and capabilities to dynamic technology applications, ecosystem collaboration, and customer relationship management. Through digital transformation, enterprises can not only improve their own efficiency but also create new value through the ecosystem and achieve sustainable competitive advantages. Vial [18] emphasizes that the sources of competitive advantage for enterprises shift from traditional resource endowments to dynamic capabilities, data assets, and ecosystem collaboration. While digital transformation creates new growth opportunities for businesses, companies must overcome technical, cultural and strategic challenges to achieve long-term competitive advantage.

3. The impacts of Enterprise Innovation Strategy on Enterprise Competitive Advantage

Driven by globalization and the digital economy, enterprises continue to undergo profound changes in technology, market and sustainable development. Leading companies such as Google, Amazon and Tesla, through the implementation of innovation strategies, not only occupy an advantage in the fierce global market competition but also set a benchmark for the industry. Combined with the practice of the above enterprises, the paper analyzes the innovation strategies in three directions: technology-driven, market demand and sustainable development.

3.1. Technology-driven Innovation Strategy

The technology-driven innovation strategy emphasizes the use of digital technologies to drive continuous development and change in the company's products and services. The core of this strategy is to take advantage of the rapid development of technology to enhance the competitiveness of enterprises and market adaptability. Google, for example, has pushed for technological breakthroughs by putting artificial intelligence, big data and cloud computing at the core of its strategy. These breakthroughs not only solidify Google's global leadership in search engines, advertising, and cloud services, but also dramatically enhance the user experience through a range of AI-powered products. For example, innovations in Google Assistant and DeepMind have enabled Google to tap the potential of new markets while providing users with smarter solutions [19]. In addition, Google is enhancing its technological impact and market competitiveness by optimizing its technology ecosystem and co-innovating with external partners. Technology-driven innovation is not limited to product development, but also profoundly changes the operating model and business structure of enterprises. Artificial intelligence can help companies design products more accurately and enhance users' personalized service experience through data-driven analytics. For example, in the field of smart home, AI technology has been widely used in equipment automation and scene optimization [20].

Technology-driven strategies not only open up the possibility of innovation but also reduce operating costs and improve productivity by optimizing internal processes. Enterprises can realize process automation and resource management optimization through technical means, so as to make more efficient use of human and material resources. This technology-oriented change has won more development space for enterprises in the highly competitive market environment and has also promoted the progress and development of the entire industry.

3.2. Innovation Strategy Based on Market Demand

The innovation strategy based on market demand emphasizes taking consumer demand as the core and designing innovative products and services that meet market expectations through in-depth understanding of market changes [21].

In the context of the digital economy, Amazon has successfully diversified its business model by implementing a consumer-oriented innovation strategy. Aversa et al. explore this process in detail and highlight how Amazon is leveraging the advantages of digital platforms to integrate multiple business models to meet the diverse needs of consumers. Their research points out that Amazon has created synergies by building a complementary digital ecosystem that seamlessly integrates its diverse businesses such as retail, cloud computing, and digital content. This integration not only enhances the user experience but also increases customer loyalty and platform stickiness through strategies such as cross-selling and service bundling. In addition, Amazon's continued focus on technological innovation, especially in the areas of artificial intelligence and big data analytics, allows it to gain insight into consumer behavior and preferences to provide personalized recommendations and services. This consumer-centric strategy allows Amazon to quickly adapt to market changes and maintain a competitive edge. In general, through digital means, Amazon has successfully implemented a consumer-oriented innovation strategy, diversified its business model, and built an ecosystem that provides valuable experience and inspiration for other enterprises seeking to innovate in the digital economy.

Innovation strategies based on market demand have a wide range of positive impacts on businesses, including increasing consumer satisfaction, increasing market share, enhancing competitiveness, and driving open and continuous innovation. By capturing market demand in real time and responding quickly, enterprises can not only gain advantages in market competition but also create new value chains through innovation and promote the sustainable development of themselves and the industry.

3.3. Sustainable Development and Innovation Strategy

In the context of globalization, sustainability has become an important part of the innovation strategy of leading companies. This strategy not only focuses on economic benefits but also emphasizes the balance between environmental protection and social responsibility. Qing and Jin [22] explored the impact of environmental, social and governance (ESG) and AI-based digital transformation on corporate sustainability and verified the moderating role of green innovation. The results show that both ESG activities and digital transformation have a positive impact on the sustainable development of enterprises. Although the moderating effect of green innovation has not been proven, its importance is still stressed.

N. Jing [7] points out that Tesla has successfully led the trend of green economy through the development of zero-emission electric vehicles and solar energy solutions, as well as the construction of a global network of superchargers. These innovations have not only driven the adoption of electric vehicles but have also created a strong market driver for sustainable energy use worldwide. Tesla's practice provides a model for other companies and pushes the industry and consumers toward a green future.

In summary, innovation strategies based on sustainable development provide a number of positive impacts for businesses, including enhancing brand image, opening new markets, reducing operating costs, and enhancing regulatory compliance. However, the implementation of this strategy is not just a short-term choice, but a systemic change that enterprises need to adhere to and optimize in the long term [23]. As the global awareness of sustainability increases, companies that adopt this strategy will be more likely to gain a long-term advantage over future competition.

4. Conclusion

In the context of the digital economy, corporate innovation strategies are critical to competitive advantage and sustainable growth. This paper discusses three key directions: technology-driven, market-oriented and sustainable development. Technology-driven innovation through artificial intelligence, big data and other technologies to improve efficiency and explore markets; Market-driven innovation focuses on consumer needs, delivers personalized experiences and enhances customer loyalty; Sustainable innovation integrates environmental and social responsibility into the strategy and enhances brand reputation through green technology and circular economy. Although this study analyzes the multiple impacts of innovation strategies, it lacks quantitative data support based on case studies, and industry and regional differences may limit the applicability of the conclusions. Future studies can be combined with empirical methods to expand the applicable scenarios to improve the universality.

Future research also needs to focus on the challenges of data privacy and security, technology ethics, cross-industry collaboration, the cost of sustainability, and the sustainability of innovation in a dynamic environment. Specific initiatives include: (1) Establishing a digital innovation evaluation system and developing a framework to assess the impact of digital innovation strategies on competitive advantage and sustainable development; (2) Exploring cross-industry cooperation mechanisms to promote resource, knowledge and technology sharing; (3) Studying how digital platforms and ecosystems facilitate multi-stakeholder collaboration and co-creation. By combining digital technologies, market insights and sustainable practices, companies can build resilient innovation strategies to address challenges and seize future opportunities to drive a sustainable global economy.