A study on the role of Technology in doing sustainable business (KEY IJP************989)

• Sunil Hegde ,Jatin

Abstract

The swift progress of technology has emerged as a significant catalyst for sustainability in contemporary business operations. This research examines the impact of emerging technologies on sustainable business performance, with a specific focus on the question: how do technological advancements contribute to longterm sustainability and competitive advantage? The research employs a mixed-methods approach, integrating quantitative survey analysis and a case study examination to evaluate the influence of industry4.0 technologies (big data, iot, smart factories), blockchain, and managerial resources on sustainability. The results indicate that industry 4.0 improves operational efficiency by streamlining resource utilization, minimizing waste, and enhancing its implementation. Blockchain technology guarantees transparency, traceability, and security in supply chains, resulting in lower transaction costs and increased stakeholder trust. Furthermore, the effective allocation of resources through strategic alignment is crucial in attaining and maintaining a sustainable competitive advantage.The study finds that companies that incorporate digital advancements can boost long-term environmental, economic, and social sustainability, as well as enhance their overall business performance. Nevertheless, obstacles like expensive implementation costs and the necessity for digital transformation strategies persist. Future studies should investigate the long-term effects, industry-specific applications, and the role of artificial intelligence in promoting sustainability. By utilizing technology efficiently, businesses can establish a connection between profitability and sustainability, guaranteeing resilience in a dynamic and competitive global market.