Green innovation drives globalization: a longitudinal case study of Angel Yeast’s evolution from a start-up to a world-class manufacturer

In the increasingly competitive global market, emerging market companies, represented by China, have shown mixed performance during their development process. Many companies grow rapidly in the early stages of development but cannot maintain long-term growth. How to achieve sustainable development has become a major challenge for emerging market companies, and green innovation is considered an effective way to address this issue. Based on the resource-based view, this paper conducts a longitudinal case study on Angel Yeast as the research subject, dividing the development process of Angel Yeast into three stages: the start-up period (1986-2000), the growth period (2000-2010), and the maturity period (2010-present), discussing how Angel Yeast has grown from a small start-up company to a world-class manufacturer. The study finds that Angel Yeast has utilized its unique resources at different stages of development for green technology innovation, green product innovation, green management innovation, green marketing innovation, green supply chain management, and green organizational culture construction, enabling Angel Yeast to gain a sustained competitive advantage and grow into a global leader in the yeast industry. This paper expands the research on the evolution of emerging market companies under the resource-based view theory and enriches the understanding of the role of green innovation in the growth process of enterprises.