Convergence innovation in the digital age and in the COVID-19 pandemic crisis

Sustainable innovation is imperative for organizational survival and success in the turbulent market environment of the digital age, especially more so in the current COVID-19 pandemic crisis. This paper presents convergence innovation (CI), powered by the exponential fusion effect of the various objects, technologies, ideas, and strategies, as a new sustainable core competence of organizations. We present the concept of CI including its autonomous ecosystem enabled by advanced technologies, unique life cycle features, relationships with other innovation approaches, and its purpose of value creation for the stakeholders and beyond (for the greater good). The paper also explores how CI can be a catalyst for managing the current COVID-19 pandemic and charting the path to post crisis. The study makes contributions to both innovation literature and to practicing managers with new insights on sustainable innovation strategies for organizational performance and beyond.

Automated summary

Sustainable innovation, particularly in the face of the current COVID-19 crisis, is crucial for organizational survival and success. This paper introduces convergence innovation (CI) as a new sustainable core competence, driven by the exponential fusion effect of various factors, with a focus on value creation for stakeholders and the greater good.