Discussing Business Innovation and Moral Basis of Redistribution Regarding Economic Equality


Kalkavan H.

in: Financial Strategies in Competitive Markets: Multidimensional Approaches to Financial Policies for Local Companies, Hasan Dincer,Serhat Yüksel, Editor, Springer Nature, Zug, pp.341-354, 2021

  • Publication Type: Book Chapter / Chapter Research Book
  • Publication Date: 2021
  • Publisher: Springer Nature
  • City: Zug
  • Page Numbers: pp.341-354
  • Editors: Hasan Dincer,Serhat Yüksel, Editor

Abstract

In this conceptual study, fundamentally the role of redistribution policies for economic equality within the scope of business innovation is discussed. Initially, the notion of business innovation is revised, and its social aspect is discussed as part of social innovation. Then the moral basis of redistribution regarding methods and policies in terms of economic equality is evaluated. As a result of research, it is determined that investments in education through redistribution contribute to the increase in the average education level in the country and thus economic growth. Certainly, earning profits is vital for a business, but going beyond that, by investing in innovation, developing new products according to Business Model Innovation” will contribute to increasing company profit, to society and to the economic devel- opment of the country. Thus, it will be possible to produce innovative products that are environmentally friendly and compatible with socioeconomic structure. Through effective redistribution, policies should be designed to reduce economic injustice and positively affect the countrys economic development, and that provides a more balanced society. In this respect, social innovative business models can function significantly. Moreover, social innovation is the development of innovative business models to solve or alleviate social problems such as underemployment, social conflicts, alienation, and social exclusion caused by technological development.