Exploring Business Sustainability: Testing the Role of Service and Marketing Innovation

Business sustainability has gained much importance for businesses in the current era. Keeping it growing importance in mind, the present study investigated how business sustainability can be predicted. The study tested the role and impact of service innovation and marketing innovation in predicting business sustainability. Through using structural equation modeling, Smart PLS 3.2 software was used to analyze the data collected from SMEs resulted a significant impact of service innovation and business sustainability. Equally, the findings also indicated significant relationship between marketing innovation and business sustainability. The results have concluded that service and marketing innovation are key elements for businesses aspiring to boost business sustainability. The findings forward important implications for theory and practice followed by scope for further studies.


Introduction
Business sustainability has emerged as a critical concept in recent years, gaining significant attention from scholars, practitioners, and policymakers alike. As the global community faces pressing challenges such as climate change, resource depletion, and social inequality, businesses are increasingly expected to adopt sustainable practices that address these issues (Lou et al., 2020). According to Ahmad et al (2021), business sustainability refers to the integration of environmental, social, and economic considerations into the core operations of an organization. It entails adopting practices that minimize negative impacts on the environment while simultaneously enhancing social well-being and maintaining profitability. By embracing sustainability principles, businesses can not only contribute towards a more sustainable future but also gain a competitive advantage in an increasingly conscious market. By understanding the importance of business sustainability and its implications for organizations across industries, this research paper aims to provide valuable insights that can guide decision-makers towards adopting sustainable practices that drive long-term success. The current study therefore attempts to examine how business sustainability can be predicted. Therein, the research strives to test the role of service and marketing innovation By embracing transparency and engaging in proactive environmental advocacy, Patagonia has not only enhanced its brand reputation but also achieved significant financial success. Another compelling example is Unilever, a multinational consumer goods company committed to sustainable development. Through its Sustainable Living Plan, Unilever has set ambitious targets for reducing waste and greenhouse gas emissions while simultaneously improving livelihoods. The company's efforts have not only resulted in positive environmental outcomes but also led to increased market share and improved investor confidence (Wilhelm, 2013). Furthermore, Interface Inc., a global modular flooring manufacturer, serves as an inspiring case study for business sustainability practices. Interface successfully transitioned from an environmentally harmful production model to one focused on closed-loop manufacturing and renewable energy sources (Padin et al., 2017). This shift allowed them to reduce greenhouse gas emissions significantly while maintaining profitability.

Challenges and Barriers in Implementing Business Sustainability
The implementation of business sustainability poses various challenges and barriers that organizations need to address in order to achieve long-term success. One significant challenge is the lack of awareness and understanding of sustainability practices among employees and stakeholders. Many individuals may not fully comprehend the importance of sustainable practices or may be resistant to change due to ingrained habits or beliefs (Setthasakko, 2009). This necessitates effective communication and education programs to enhance awareness, knowledge, and commitment towards sustainability goals. Financial constraints are another major barrier faced by organizations when implementing sustainability initiatives (Aleixo et al., 2018). Integrating sustainable practices often requires significant investments in new technologies, equipment, or infrastructure. These upfront costs can deter businesses, particularly small and medium-sized enterprises (SMEs), from adopting sustainable strategies. Therefore, finding innovative financing mechanisms such as public-private partnerships or green funding options becomes crucial for overcoming this obstacle (Massoud et al., 2010). Additionally, regulatory frameworks and policies can present both challenges and opportunities for businesses striving for sustainability. Ambiguous regulations or conflicting policies across different jurisdictions can create confusion and hinder progress towards sustainable goals. Conversely, supportive governmental policies that offer incentives or tax breaks for sustainable practices can encourage organizations to embrace sustainability initiatives more readily. Furthermore, the complexity of supply chains poses a challenge in implementing business sustainability (Banister, 2005). Organizations often struggle with aligning their suppliers' operations with their own sustainability targets as they have limited control over external entities' actions (Zhang & Lucey, 2022).

Developing Sustainable Practices
Research suggests that businesses should create a clear roadmap that outlines their sustainability goals and objectives. This strategy should encompass all aspects of the organization, including operations, supply chain management, product development, and employee engagement. Accordingly, embrace renewable energy sources: Transitioning to renewable energy not only reduces carbon emissions but also offers long-term cost savings. Equally, investing in solar panels or wind turbines can help businesses become more environmentally friendly while also reducing their dependence on fossil fuels (Bocken et al., 2014).
Adopting resource-efficient techniques can significantly minimize waste and conserve valuable resources such as water and energy. This may involve optimizing production processes, implementing recycling programs, or utilizing technology to monitor and manage resource consumption effectively. 4. Foster collaboration with suppliers and partners: Businesses should work closely with their suppliers and partners to ensure sustainable practices are upheld throughout the entire supply chain (Aras & Crowther, 2009). Thus, the future of business sustainability is a critical concern that cannot be ignored. As we face mounting environmental challenges and increasing social expectations, businesses must recognize their role in creating a sustainable future. This research paper has shed light on various aspects of business sustainability, including its definition, importance, and the strategies employed by companies to achieve it. The findings reveal that sustainability is not merely an option or a trend; it is an imperative for long-term success. Organizations need to integrate sustainable practices into their core operations and decisionmaking processes. They must adopt environmentally friendly technologies, reduce waste and emissions, and promote social responsibility throughout their value chains. Moreover, the research emphasizes the significance of collaboration between businesses, governments, and civil society in driving sustainable development. By working together towards common goals, these stakeholders can create innovative solutions to global challenges such as climate change and inequality (Clarke, 2004).

Defining Service Innovation
Service innovation refers to the development and implementation of new or improved services that meet the evolving needs and expectations of customers (Randhawa & Scerri, 2015). Unlike product innovation, which focuses on tangible goods, service innovation emphasizes enhancing customer experiences through innovative service offerings. It involves identifying opportunities for improvement in existing services or creating entirely new ones that provide unique value propositions. Service innovation can involve various aspects, including technological advancements, process improvements, and changes in service delivery methods (Berry et al., 2006). By embracing service innovation, organizations can gain a competitive edge by differentiating themselves from competitors and increasing customer satisfaction. It also allows businesses to adapt to changing market conditions and create sustainable growth in today's dynamic and customer-centric business environment (Snyder et al., 2016).

Importance of Service Innovation
Service innovation is of paramount importance in today's rapidly evolving business landscape. It enables organizations to differentiate themselves from competitors by offering unique and value-added services to customers. Embracing service innovation fosters customer satisfaction and loyalty, as it allows businesses to address changing consumer needs and preferences effectively. By continuously improving their service offerings, companies can stay ahead of the curve and maintain a competitive edge in the market (McDermontt & Prajogo, 2012). Service innovation also plays a crucial role in driving economic growth by creating new opportunities, generating employment, and increasing productivity. Furthermore, it empowers organizations to adapt to societal challenges such as sustainability and inclusivity, ensuring they remain socially responsible while delivering exceptional customer experiences (Hussain et al., 2016).

Service Innovation and Business Sustainability
In today's dynamic business landscape, service innovation has emerged as a critical driver of sustainable success for organizations. As markets become increasingly competitive and customer expectations continue to evolve, businesses must continuously adapt their offerings to stay relevant. Service innovation encompasses the development and implementation of new or improved services that provide unique value propositions to customers, thereby enhancing their overall experience and loyalty (Tseng et al., 2019). Moreover, business sustainability has become a pressing concern for organizations across industries. With growing societal and environmental challenges, companies are expected to operate in a manner that ensures long-term viability while minimizing negative impacts. Integrating service innovation within sustainability strategies enables businesses not only to meet these expectations but also to unlock new opportunities for growth and profitability (Hong et al., 2016).
In today's rapidly evolving business landscape, service innovation has emerged as a crucial driver for achieving long-term business sustainability. Service innovation refers to the creation or improvement of services that meet customers' changing needs and expectations. By continuously developing innovative service offerings, businesses can not only differentiate themselves from competitors but also enhance customer satisfaction and loyalty. Moreover, service innovation enables companies to adapt to market trends, technological advancements, and regulatory changes effectively .
It allows businesses to stay relevant and resilient in an increasingly competitive marketplace while addressing environmental and social challenges. Ultimately, integrating service innovation into business strategies fosters sustainable growth by ensuring customercentricity, fostering resource efficiency, and promoting responsible practices that align with societal expectations (Li et al., 2018).
According to Sindakis and Kitsios (2016), businesses need to emphasize understanding and fulfilling customer needs by actively engaging with them, gathering feedback, and incorporating it into service design and delivery. Equally, foster partnerships with customers, suppliers, and other stakeholders to co-create innovative solutions that address emerging challenges. Likewise, leverage technology to enhance service offerings, streamline processes, improve customer experiences, and unlock new opportunities for growth. Continuous Improvement: Develop a culture of continuous learning and improvement by encouraging employees to generate ideas, experiment with new approaches, and regularly evaluate performance. In addition, integrate environmental sustainability considerations into service design and operations to minimize resource consumption, reduce waste generation, and contribute positively to society. One notable example of successful service innovation in sustainable businesses is the introduction of renewable energy solutions by companies. For instance, Tesla's development of electric vehicles has revolutionized the automotive industry by providing a more sustainable alternative to traditional gasoline-powered cars. This service innovation has not only reduced carbon emissions but has also spurred the growth of renewable energy infrastructure, such as solar-powered charging stations (Wieland et al., 2016).

Implementing Service Innovations for Business Sustainability
Implementing service innovations for business sustainability can be a challenging endeavor due to various obstacles. One primary obstacle is the resistance to change within organizations. Employees may be hesitant to adopt new service practices, fearing disruptions to their routine or potential job insecurity. Additionally, limited financial resources can hinder the implementation of service innovations, as they often require significant investments in technology, training, and infrastructure .
Moreover, the lack of customer acceptance and demand for new services can pose a substantial challenge, as customers may be resistant to unfamiliar offerings or perceive them as unnecessary. Finally, regulatory and legal constraints may impede the implementation of certain service innovations by imposing restrictions or requirements that are difficult to comply with. Overcoming these challenges is crucial for businesses seeking long-term sustainability through service innovation.
Technology plays a pivotal role in driving service innovation, enabling businesses to enhance their sustainability practices. By leveraging technological advancements, companies can streamline their operations, improve customer experiences, and reduce environmental impacts. One way technology drives service innovation is through the implementation of automation and artificial intelligence (AI). These tools enable businesses to automate repetitive tasks, optimize processes, and deliver personalized services at scale (Fernando et al., 2019). This not only increases efficiency but also enhances customer satisfaction by providing tailored solutions. Furthermore, technology enables businesses to gather and analyze vast amounts of data in real-time. By harnessing data analytics and predictive modeling techniques, companies can gain valuable insights into consumer preferences, market trends, and supply chain efficiencies (Barrett et al., 2015). Thus, service innovation has emerged as a critical factor in ensuring the long-term sustainability of businesses. As customer expectations continue to evolve rapidly, organizations must adapt and innovate their services to remain competitive and relevant in the market. The integration of technology and data analytics has played a pivotal role in driving service innovation, enabling businesses to understand customer needs better and deliver personalized experiences (Chauhan et al., 2022). Looking ahead, the future of service innovation holds great promise. The rise of emerging technologies such as artificial intelligence and blockchain presents exciting opportunities for businesses to revolutionize their service offerings further. However, it is essential for organizations to prioritize ethical considerations and maintain a balance between technological advancements and human touch. By embracing service innovation, companies can enhance customer satisfaction, build long-term relationships, and ultimately achieve sustainable growth in today's dynamic business landscape (Dana et al., 2022).

Defining Marketing Innovation
Marketing innovation refers to the process of introducing new and creative strategies, techniques, or ideas to promote a product or service effectively. It involves thinking outside the box and finding inventive ways to reach target audiences and engage with them (Purchase & Volery, 2020). Marketing innovation aims to differentiate a brand from its competitors by offering unique value propositions that resonate with consumers. This can be achieved through various means such as adopting emerging technologies, leveraging social media platforms, creating compelling content, or reimagining traditional marketing approaches (Tinoco, 2010).
Ultimately, marketing innovation is about staying ahead of the curve and continually adapting to changing consumer behaviors and preferences. By embracing innovative marketing strategies, businesses can gain a competitive edge in today's fast-paced and ever-evolving marketplace (Kjellberg et al., 2015). In today's highly competitive business landscape, marketing innovation has become a crucial driver for success. It encompasses the creation and implementation of novel marketing strategies, tactics, and ideas that differentiate companies from their competitors. Marketing innovation allows organizations to break through the clutter and capture the attention of their target audience in unique ways. By embracing new technologies, consumer insights, and market trends, businesses can create innovative campaigns that resonate with customers on a deeper level (Medrano-Sáez & Olarte-Pascual, 2012).
Moreover, marketing innovation fosters customer engagement, brand loyalty, and market share growth. It enables companies to adapt to rapidly changing consumer preferences and maintain a competitive edge in an ever-evolving marketplace. Therefore, understanding the importance of marketing innovation is essential for businesses looking to thrive in today's dynamic business environment (Moreira & Silva, 2010).

Role of Market Research in Driving Innovation
Market research plays a crucial role in driving innovation within organizations. By gathering and analyzing relevant data, market researchers provide valuable insights into consumer preferences, behaviors, and emerging trends. This information is vital for businesses seeking to develop innovative products or services that meet the ever-changing demands of their target market. Through comprehensive market research, companies can identify gaps in the market, uncover unmet customer needs, and understand competitors' strategies (Aksoy, 2017). Armed with this knowledge, organizations can make informed decisions on product development and positioning to gain a competitive advantage. Moreover, market research helps reduce the risk associated with innovation by validating ideas before investing significant resources (Garrido-Morena et al., 2015).

Overcoming Challenges In Implementing Marketing Innovations
Implementing marketing innovations can be a challenging endeavor, requiring careful planning and execution. One common challenge is resistance to change within the organization. Many employees may be comfortable with existing marketing strategies and resistant to embracing new approaches. Overcoming this challenge requires effective communication and education about the benefits of innovation, highlighting how it can enhance customer satisfaction and drive business growth (Canwat & Onakuse, 2022).
Another hurdle is the allocation of resources. Implementing marketing innovations often requires investments in technology, training, and research. Securing necessary funds can be difficult, particularly when budgets are already allocated to existing initiatives. Successful implementation requires strategic resource allocation and buy-in from senior management. Lastly, measuring the impact of marketing innovations can be a complex task. Traditional metrics may not adequately capture the value generated by new strategies (Aksoy, 2017). (2017), creating a culture of marketing innovation is essential for companies to stay ahead in today's dynamic business landscape. Firstly, leaders must encourage an open and inclusive environment that values creativity and risk-taking. This entails promoting a mindset where employees feel comfortable sharing their ideas and opinions, regardless of their position within the organization. Secondly, fostering collaboration and cross-functional communication is crucial.

In the views of Hadengue et al
Teams from different departments should be encouraged to work together on projects, allowing for diverse perspectives and insights. Additionally, providing resources such as training programs, workshops, and brainstorming sessions can help employees develop their innovative thinking skills. Lastly, recognizing and rewarding innovative ideas or initiatives will further motivate employees to embrace marketing innovation as an integral part of the company's culture (Pontiskoski & Asakawa, 2009).
One of the key strategies for developing and implementing marketing innovations is to foster a culture of creativity and experimentation within the organization. This involves encouraging employees to think outside the box, challenge conventional wisdom, and take risks in order to generate new ideas. Another important strategy is to conduct thorough market research and analysis to identify emerging trends, customer needs, and untapped market opportunities. As technology continues to evolve at an unprecedented pace, the future of marketing innovation holds immense potential for businesses. One emerging trend is the use of artificial intelligence (AI) and machine learning algorithms to gather and analyze consumer data, enabling companies to personalize their marketing efforts like never before. Additionally, virtual reality (VR) and augmented reality (AR) are revolutionizing the way products are showcased, allowing customers to experience them in a more immersive manner (Grimpe et al., 2017). Moreover, with the rise of smart devices and the Internet of Things (IoT), marketers can tap into a wealth of real-time data to tailor their strategies accordingly. Furthermore, social media platforms continue to play a pivotal role in marketing innovation, with influencer marketing gaining prominence (Chen, 2006).

Marketing Innovation and Business Sustainability
Marketing innovation refers to the creation and implementation of novel marketing strategies, techniques, or ideas that aim to enhance a company's competitive advantage and drive growth. It involves adopting new approaches to reach target markets, introducing innovative products or services, or utilizing emerging technologies for effective customer engagement. Marketing innovation is essential for businesses seeking long-term success as it enables them to adapt to evolving market demands, differentiate themselves from competitors, and foster customer loyalty (Bhansal & DesJardine, 2014). Business sustainability, on the other hand, encompasses the practices and strategies implemented by organizations to ensure their long-term viability in an ever-changing marketplace. It involves balancing economic growth with environmental stewardship and social responsibility (Quaye & Mensah, 2019).

Challenges and Barriers To Implementing Marketing Innovation For Sustainable Business Practices
Implementing marketing innovation for sustainable business practices can be challenging due to various barriers. One major challenge is the resistance from employees and stakeholders who may be reluctant to change their traditional ways of doing business. This resistance can stem from fear of the unknown, lack of understanding about the benefits of sustainability, or concerns about potential disruptions to existing processes (Ch`ng et al., 2021). Another barrier is the lack of financial resources and expertise required for implementing marketing innovation initiatives. Sustainable practices often require significant investments in new technologies, research and development, and employee training. Small and medium-sized enterprises (SMEs) may face even greater difficulties in accessing these resources. Furthermore, regulatory constraints and legal frameworks can pose obstacles to implementing marketing innovation for sustainable practices (Matus et al., 2012).
Integrating marketing innovation into sustainable business models requires a strategic approach to ensure long-term success. Firstly, businesses should focus on understanding the needs and preferences of environmentally conscious consumers. This involves conducting market research to identify emerging trends and consumer demands related to sustainability. Secondly, companies can adopt innovative marketing techniques that communicate their sustainable practices effectively. This may involve leveraging social media platforms, influencer marketing, or storytelling to engage with consumers and build trust in their brand's commitment to sustainability (Todeschini et al., 2017). Additionally, businesses can collaborate with like-minded organizations or nonprofits to amplify their message and reach a wider audience (Potts, 2017). Finally, it is crucial for companies to continuously evaluate and adapt their marketing strategies based on evolving consumer expectations and market dynamics while maintaining a strong commitment to sustainability principles.
Determining the effectiveness of marketing innovation in driving business sustainability is a critical aspect for organizations seeking long-term success. Measuring this impact involves evaluating various key performance indicators (KPIs) that reflect both financial and nonfinancial outcomes. Financial KPIs may include revenue growth, market share expansion, and return on investment (ROI). Non-financial KPIs encompass customer satisfaction, brand reputation, and employee engagement. Additionally, assessing the environmental and social impacts of marketing innovation is crucial to understanding its overall contribution to sustainability effort. By employing quantitative and qualitative measurement methods, such as surveys, interviews, and data analysis, businesses can gauge the extent to which marketing innovation positively influences their sustainable practices and overall organizational performance (Grimpe et al., 2017). Therefore, the relationship between marketing innovation and business sustainability is crucial for organizations to thrive in the ever-changing marketplace. As consumers become more conscious about their purchasing decisions, businesses must adapt and innovate their marketing strategies to meet evolving demands. By embracing marketing innovation, companies can not only enhance their brand image but also gain a competitive edge by reaching new markets and attracting a wider consumer base (Matus et al., 2012). Moreover, incorporating sustainable practices into marketing efforts can lead to long-term business success by reducing costs, improving customer loyalty, and contributing to a healthier environment. As we move into the future, it is clear that organizations that prioritize marketing innovation and business sustainability will be better positioned to navigate challenges and achieve sustainable growth in an increasingly interconnected world (Bhansal & DesJardine, 2014).

Hypotheses Testing
Based on the critical appraisal of the literature, the current study tested the following framework and hypotheses: H1: There will be a positive relationship between service innovation and business sustainability H2: There will be a positive relationship between marketing innovation and business sustainability Methodology SMEs were sampled for the current study with a more focus on Australia. Therein, social media was utilized to target SME owners and managers. A total of 550 SMEs were approached out of which, 383 agreed to respond. After a period of 4 weeks, the study managed to obtain 256 questionnaires. After eliminating the inappropriately filled, 237 questionnaires were utilized for final analysis and interpretation. For model assessment Smart PLS3 was used. Structural equation modeling using Smart PLS has become a popular statistical approach (Hafeez et al., 2022;Ibrahim et al., 2021). At first measurement model was tested and secondly, structural model was assessed to test the proposed relationships. In measurement model reliability and validity of the instrument were assessed (Hair et al., 2011). Reliability is known as instrument measurement consistency it is meant to assess. And validity can be known as ability of the instrument to assess the concepts as it was supposed to assess. Criteria for assessment of loadings were set as loading needs to be greater than 0.50 (Hair et al., 2017), for composite reliability CR out to be 0.70 and above (Hair et al., 2017). While for Average variance extract was supposed to be greater than 0.50 (Fornell & Larker, 1981;Ringle et al., 2015).

Discriminant Validity
Level of discriminant validity is found when own loading of item is greater than other construct. To assess this, HTMT (Henseler et al., 2015) and square root of AVE were assessed. Under Fornel and Larker criteria all square root values (table 4.2) were found greater than the values of corresponding variables. Likewise in HTMT criteria recommended range were HTMT0.85 (Clark & Watson 1995;Kline, 2011) Table 4.3 show the results of HTMT values, which were found less than recommended range this shows sufficient results on discriminant validity.   All proposed hypotheses were found significant as two tailed tests followed p values were found less than 0.000. Further table 4.4can be reffered.

Discussion and Implications
The current study attempted to investigate the relationship between service innovation, marketing innovation and business sustainability. The results outlined that service innovation has a significant influence towards harnessing business sustainability. The findings have indicated that, service innovation help foster creativity and new prospects in the business and its practices which can lead of unfolding sustainability in the business. The results hence educate management and decision makers in the industry to encourage service innovation prospects so that they could induce sustainability in the business. The findings also implies that organizations need to work on outlining as to what extent their workforce is capable of using innovation in service practices. Training interventions may be used in this regard to help workforce become capable (Mihardjo et al., 2020). Accordingly, findings of the study also outlined the significance of marketing innovation towards predicting business sustainability.
The results suggests that creativity in the marketing practices can help organizations to come up with sustainable ways of business in that particular domain. Thus, it is essential to outline how businesses can improve and promote innovation in marketing practices to boost business sustainability. This implies management to also revise recruitment criteria for marketing professionals to ensure that businesses hires individuals expressing capabilities of being innovative in marketing (Sommer et al., 2017). Thus, the findings of the study outline a critical role and relationship between service and marketing innovation in harnessing business sustainability. Organizations aspiring to improve business sustainability prospects need to focus on how they can amplify service and marketing innovation elements for strategic results in this regard.

Limitations and Scope for Further Studies
Despite important implications for theory and practice, the current study has some important implications for theory and practice. The study was conducted using a cross-sectional design. Future studies therefore are encouraged to utilize a longitudinal approach. Moreover, the study catered to service and marketing innovation to understand business sustainability. Future studies are encouraged to extend the framework through incorporating mediating and moderating variables. Lastly, the study was conducted in Australia and the findings may be not equally applicable in regions with different culture and focus on the investigated elements. Thus, future studies may consider investigating business sustainability across different geographical settings.