Responsible Innovation in Business: A Framework and Strategic Proposal

Companies are the main contributors and developers of technological innovation, generating an enormous impact on people’s lives. Unrestricted innovation fosters both economic development and inventiveness. Real-world situations, however, pose valid questions about whether science and technology can be left to operate autonomously in the market without regulation and societal guidance. Some headline stories include Volkswagen’s emission scandal, misuse of data in the Facebook–Cambridge Analytica case, or the Pegasus surveillance spyware targeting human rights activists, journalists and dissidents.

In a fast-changing world increasingly dependent on technology and with business wielding enormous power, one may ask how to ensure that the impact of technology on humans and society will lead to improved technologies that are sustainable, ethically acceptable and socially desirable. What do our fundamental rights and values look like in the techno- and digital age? Who has the right to decide what the world should look like and how we want to live? And what role and responsibilities do companies have regarding their technological innovations?

The main challenge taken on in this work is the problem of the responsibility of companies for their technological innovation, which can be placed in the context of the ongoing discussions around the nature of companies’ responsibility towards society and the environment. This work explores and explicates a strategic approach to responsible innovation in business.