ECONOMIC CONSTRAINTS AND THE STATUS QUO: BARRIERS TO INNOVATION AND CREATIVE PROBLEM-SOLVING


Dr. N Subbukrishna Sastry,Dr. Manjula Mallya M
1. Professor, School of Management, CMR University, Bangalore, Karnataka, 2. Associate Professor & Head, Dept. of Economics, Government First Grade College for Women Balmatta Mangalore, Karnataka
Abstract
In today’s rapidly changing global economy, innovation is widely recognized as a key driver of competitiveness, productivity, and long-term sustainability. However, many industries continue to struggle with entrenched economic constraints and status quo practices that prevent the adoption of creative solutions. Present industry prospects reveal a paradox: while technological advancements and digital transformation offer unprecedented opportunities, traditional cost structures, risk-averse investment patterns, regulatory rigidities, and resource misallocations often reinforce stagnation. These challenges are particularly evident in the pharmaceutical industry, where high R&D costs, stringent regulatory requirements, and patent-driven market structures often prioritize risk minimization over creative breakthroughs. As a result, opportunities for disruptive innovation—such as affordable drug development, AI-driven clinical trials, and sustainable production models—are frequently constrained by the prevailing economic status quo. The aim of this research is to investigate how economic measures—such as capital allocation, cost–benefit assessments, market incentives, and policy frameworks—interact with institutional inertia to limit the scope of creativity in industries, with special focus on the pharmaceutical sector. Specifically, the study seeks to identify the critical barriers imposed by the economic status quo, analyze their impact on organizational innovation capacity, and explore potential strategies that can realign economic priorities toward fostering experimentation and long-term growth. By addressing the tension between stability and change, this research aspires to provide actionable insights for policymakers, business leaders. The researchers who aim to overcome structural constraints and enable industries—particularly pharmaceuticals—to unlock their full creative potential.
Keywords: Innovation barriers, Economic constraints, Status quo, Creative problem-solving, Industrial prospects, Institutional inertia, Policy frameworks, Organizational growth.
Journal Name :
EPRA International Journal of Research & Development (IJRD)

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Published on : 2025-09-30

Vol : 10
Issue : 9
Month : September
Year : 2025
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