Open Innovation Effects in Eco-innovation and Business Performance in Mexican Manufacturing Firms
DOI:
https://doi.org/10.55965/setp.3.06.a1Keywords:
open innovation, eco-innovation, business performance, manufacturing firmsAbstract
Context. The global problems of environmental degradation and climate change are leading organizations to adopt and apply new production strategies to improve their innovation activities. Among the different business strategies recently proposed in the literature, open innovation and eco-innovation stand out, for which there is still no certainty in the innovation literature that they can generate better results in organizations. For this reason, future studies need to provide empirical evidence in favor of this relationship.
Objective. Explore the link between open innovation, eco-innovation activities, and business performance.
Problem. Would it be possible to establish that the adoption and implementation of open innovation and eco-innovation improve business performance in manufacturing firms in Mexico?
Methodology. The Methodology practically consisted of carrying out a quantitative investigation, reviewing recently published articles in high-impact international journals, and a sample framework comprising three measurement scales, 27 items, and two hypotheses that were tested by applying 460 surveys to companies in the automotive sector, between January to March 2021.
Theoretical and Practical Findings. The findings of this study corroborate our argument that firms that have adopted and applied open innovation and eco-innovation have managed to increase their level of business performance significantly.
Transdisciplinary and sustainable innovation originality. By applying 460 surveys between January to March 2021, the same number of organizations, this study contributes to expanding the limited knowledge in the literature about the link between open innovation and eco-innovation and its impact on business performance.
Conclusions and limitations. The estimation of the data derived from the 460 surveys applied in 2021 to the same number of companies provides empirical evidence that allows us to conclude that the close link between open innovation and eco-innovation contributes to a substantial increase in the level of business performance of companies.
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