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Innovation as a Tool for Sustainable Development in Small and Medium Size Enterprises in Slovakia

Author

Listed:
  • Erika Loučanová

    (Department of Marketing, Trade and World Forestry, Technical University in Zvolen, T. G. Masaryka 24, 960 01 Zvolen, Slovakia)

  • Martina Nosáľová

    (Department of Marketing, Trade and World Forestry, Technical University in Zvolen, T. G. Masaryka 24, 960 01 Zvolen, Slovakia)

  • Miriam Olšiaková

    (Department of Marketing, Trade and World Forestry, Technical University in Zvolen, T. G. Masaryka 24, 960 01 Zvolen, Slovakia)

  • Zuzana Štofková

    (Department of Economic, University of Zilina, 010 15 Zilina, Slovakia)

  • Florin Cornel Dumiter

    (Economics and Technical Department, “Vasile Goldiș” Western University of Arad, Bulevardul Revoluției 94, 310025 Arad, Romania)

  • Ștefania Amalia Nicoară

    (Economics and Technical Department, “Vasile Goldiș” Western University of Arad, Bulevardul Revoluției 94, 310025 Arad, Romania)

  • Marius Boiță

    (Economics and Technical Department, “Vasile Goldiș” Western University of Arad, Bulevardul Revoluției 94, 310025 Arad, Romania)

Abstract

Background: In the current global market, innovations are one of the tools of sustainable development. Therefore, companies must change their attitudes toward innovation strategies in accordance with international and national environmental standards, laws, and market requirements. We often come across, in particular, the evaluation of economic factors of sustainability, which cannot capture the attitudes of companies to the solved issue of the perception of innovation as a tool of sustainable development. Therefore, the Kano model and cluster analysis are used to evaluate the attitudes of Slovak small and medium-sized enterprises towards innovation, and the aim of this paper is to evaluate innovation as a tool of sustainability in enterprises in Slovakia. Methods: This article’s main research method is the Kano model and cluster analysis. Conclusions: The findings of this paper reveal how small and medium-sized enterprises in Slovakia perceive innovation as a tool for sustainable development. Based on the results, we can state the positive attitude of small and medium-sized enterprises towards innovations supporting sustainable development, focusing on frugal innovations characterized by cost reduction, as well as innovation targeting functions, standards, laws, and performance optimization. They perceive these innovations as attractive and their implementation in corporate structures as a basic function for sustainable development through innovation.

Suggested Citation

  • Erika Loučanová & Martina Nosáľová & Miriam Olšiaková & Zuzana Štofková & Florin Cornel Dumiter & Ștefania Amalia Nicoară & Marius Boiță, 2023. "Innovation as a Tool for Sustainable Development in Small and Medium Size Enterprises in Slovakia," Sustainability, MDPI, vol. 15(21), pages 1-18, October.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:21:p:15393-:d:1269288
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    References listed on IDEAS

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    4. Dana Benešová & Viera Kubičková & Anna Michálková & Monika Krošláková, 2018. "Innovation activities of gazelles in business services as a factor of sustainable growth in the Slovak Republic," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 5(3), pages 452-466, March.
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