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Author ORCID Identifier

https://orcid.org/0000-0002-3008-5338

Abstract

Article deals with the economic importance of sustainable development its component and their impact on the economy and business. The preconditions, theoretical, and applied principles of sustainability are investigated. The article substantiates the need to determine the priorities of innovation for sustainable development. The measures and goals to be taken to implement the innovative component of sustainable development are proposed to get virality of business opportunity. Economic changes and environmental pressures are sparking new levels of global concern, shifting consumers' values, preferences, and behavior. In response, businesses should consider the idea of a purpose beyond economic profit to design products with sustainability in mind and it will become vital to understand where the greatest needs and most significant investment opportunities lie.

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