Abstract
Purpose: For companies to subsist in the highly changeable and competitive market, they must foster innovation. Similarly, for companies to respond to market changes, fluctuations and trends, they need to develop green-oriented strategies. Therefore, reversing the innovation process to be greener is becoming a strategic opportunity for companies. As well as contributing to the company’s long-term performance, green innovations can be a differentiation tool for improving the company’s competitive position.
Design/methodology/approach: Despite the growth in literature on green innovation strategies, the field is dispersed. This paper therefore provides a comprehensive overview of past, present and future trends in the literature on green innovation strategies through a systematic literature review and a bibliometric analysis, employing two bibliometric techniques: bibliographic coupling and cluster analysis.
Findings: For this purpose, the Web of Science database was used, where 509 documents were collected, which were then subjected to a selection process. In total, 63 scientific studies were selected and analyzed, resulting in the identification and classification of theoretical perspectives on green innovation strategies, in which five main approaches emerged: (1) Implications of green innovation strategies, (2) Drivers of green innovation strategies, (3) Diffusion/diffusers of green innovation strategy, (4) Internal and external drivers of green innovation strategy and (5) Stakeholders in the green innovation process. The review highlighted existing gaps in the literature and illuminated avenues for future research, indicating potential research questions.
Originality/value: Collectively, our findings hold significant implications for organizational strategies by providing a robust framework for firms to understand critical factors influencing green innovation. Beyond its strategic relevance, this study advances the green innovation management literature through a holistic framework analyzing how companies can strategically pursue green innovation driven by internal and external factors.