DRIVING FINANCIAL SUSTAINABILITY: THE ROLE OF INNOVATION IN SECURING LONG-TERM ECONOMIC VIABILITY AND COMPETITIVE EDGE

Abstract:

Financial sustainability refers to the ability of an organization to operate in a manner which respects its current financial obligations while ensuring that future generations are not compromised in their ability to achieve it. This concept includes the capacity of a company to generate sufficient income to cover its operational costs, reinvest in its growth and provide yields to stakeholders, while maintaining an ethical standard and social responsibility. In this context, financial sustainability is increasingly recognized as a critical determinant of long -term organizational success and organizational resilience. It requires the integration of economic, environmental and social dimensions, which is well improved by the innovation mechanism.