Page 116 - Hojnik, Jana. 2017. In Persuit of Eco-innovation. Drivers and Consequences of Eco-innovation at Firm Level. Koper: University of Primorska Press
P. 116
In Pursuit of Eco-innovation
Hypothesis 3: There is a positive and significant relationship
between managerial environmental concern and companies’ im-
plementation of eco-innovation.
Expected benefits and eco-innovation
When companies are in pace with regulations, they start to act more pro-
actively concerning environmental issues, and they try to make their val-
ue chains more sustainable by focusing on reduction of material, more
efficient use of raw materials and manufacturing facilities and also re-
duction of waste (Nidumolu et al. 2009). The aim of companies’ imple-
mentation of eco-innovation usually concerns creation of a better image,
but outcomes also include reduced costs and new market opportunities
(Nidumolu et al. 2009). Implementation of eco-innovation leads to ben-
116 efits that concern the environment as well as the company, providing a
win-win situation for both of them (Horbach 2008). The benefits that the
company can exploit from successful introduction and implementation
of eco-innovation are cost savings, enhanced corporate image, improved
relationship with local communities, access to new green markets and
gain of superior competitive advantage (Shrivastava 1995). Sarkar (2013)
stated that eco-innovation’s implementation can result in direct and indi-
rect benefits. Among these, the direct benefits include operational advan-
tages, which result in cost savings and derive from greater resource pro-
ductivity and better logistics, followed by sales from commercialization
(Sarkar 2013), while the indirect benefits include better image; better re-
lations with customers, suppliers and authorities; health and safety bene-
fits; greater worker satisfaction; and, because of knowledge holders, an en-
hanced innovation capability overall (Sarkar 2013). Past findings (Sarkar
2013) emphasize that among companies there is an increasing recognition
that the greening of business by improving resource productivity may in-
crease their short and long-term competitiveness and create new markets.
In prior research works, the most frequently mentioned and acknowl-
edged benefits of eco-innovation implementation are:
- enhanced / improved firm reputation (Le et al. 2006; Kemp and
Foxon 2007; Eiadat et al. 2008; Dangelico and Pujari 2010; Hil-
lestad et al. 2010; Lewis and Cassells 2010; Pellegrini-Masi-
ni and Leishman 2011; Doran and Ryan 2012; Holtbrügge and
Dögl 2012; Klewitz et al. 2012; Agan et al. 2013; Chen 2013;
Sarkar 2013),
Hypothesis 3: There is a positive and significant relationship
between managerial environmental concern and companies’ im-
plementation of eco-innovation.
Expected benefits and eco-innovation
When companies are in pace with regulations, they start to act more pro-
actively concerning environmental issues, and they try to make their val-
ue chains more sustainable by focusing on reduction of material, more
efficient use of raw materials and manufacturing facilities and also re-
duction of waste (Nidumolu et al. 2009). The aim of companies’ imple-
mentation of eco-innovation usually concerns creation of a better image,
but outcomes also include reduced costs and new market opportunities
(Nidumolu et al. 2009). Implementation of eco-innovation leads to ben-
116 efits that concern the environment as well as the company, providing a
win-win situation for both of them (Horbach 2008). The benefits that the
company can exploit from successful introduction and implementation
of eco-innovation are cost savings, enhanced corporate image, improved
relationship with local communities, access to new green markets and
gain of superior competitive advantage (Shrivastava 1995). Sarkar (2013)
stated that eco-innovation’s implementation can result in direct and indi-
rect benefits. Among these, the direct benefits include operational advan-
tages, which result in cost savings and derive from greater resource pro-
ductivity and better logistics, followed by sales from commercialization
(Sarkar 2013), while the indirect benefits include better image; better re-
lations with customers, suppliers and authorities; health and safety bene-
fits; greater worker satisfaction; and, because of knowledge holders, an en-
hanced innovation capability overall (Sarkar 2013). Past findings (Sarkar
2013) emphasize that among companies there is an increasing recognition
that the greening of business by improving resource productivity may in-
crease their short and long-term competitiveness and create new markets.
In prior research works, the most frequently mentioned and acknowl-
edged benefits of eco-innovation implementation are:
- enhanced / improved firm reputation (Le et al. 2006; Kemp and
Foxon 2007; Eiadat et al. 2008; Dangelico and Pujari 2010; Hil-
lestad et al. 2010; Lewis and Cassells 2010; Pellegrini-Masi-
ni and Leishman 2011; Doran and Ryan 2012; Holtbrügge and
Dögl 2012; Klewitz et al. 2012; Agan et al. 2013; Chen 2013;
Sarkar 2013),
