Economic Performance of Eco-innovation Practices in Micro, Small and Medium-Sized Manufacturing Enterprises
DOI:
https://doi.org/10.55965/setp.4.08.a1Abstract
Context. The urgent and pressing issue of depleting natural resources exerts significant pressure on all systems (economic, social, environmental) to meet the needs of the world's population. Therefore, the promotion of more sustainable production in manufacturing companies is not just a choice, but a necessity for the care and protection of our environment.
Purpose. To shed light on the significant role that micro, small, and medium-sized enterprises (MSMEs) in the manufacturing industry can play in promoting sustainable production through the implementation of eco-innovation practices. Additionally, to analyze the influence of the Green Business Strategy on these eco-innovation practices.
Problem. Manufacturing companies must provide economic performance to stakeholders while protecting the environment by including strategic environmental goals.
Methodology. The MSMEs in the manufacturing industry (automotive, aerospace, electronics, food and beverage, textile, chemical, steel and metals, machinery and equipment, and medical devices sectors) in Aguascalientes, Mexico, were selected for their high economic participation. A confidence level of 95% and a margin of error of ±5% were chosen. Three hundred managers were surveyed using a Likert scale from January to July 2021. The technique involved the use of structural equations and partial least squares, a statistical method for modeling complex relationships, using the PLS-SEM 3.2.9 program.
Theoretical and Practical Findings. The Green Business Strategy (GBS) impacts eco-innovation practices, and in turn, these positively influences economic benefits. By implementing eco-innovation practices at a strategic level, it becomes easier to achieve gains that contribute to the sector’ sustainable development.
Originality based on a multidisciplinary approach that promotes innovation for sustainable development. The research contributes to environmental strategic management and sustainable production in the national manufacturing industry.
Conclusions and limitations. The MSMEs provide economic benefits and protect the environment by implementing a GBS and eco-innovation practices. Subsectors should replicate the study to confirm whether the results still are similar.
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Copyright (c) 2024 María Mónica Gloria Clara Castillo-Esparza, Gonzalo Maldonado-Guzmán, Juan Mejía-Trejo, María del Carmen Martínez-Serna
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