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Key drivers and skills need for innovative companies focused on sustainability

Author

Listed:
  • Grigorescu Adriana

    (National School for Political and Administrative Studies, Correspondent Member of Academy of Romanian Scientists)

  • Maer Matei Monica Mihaela

    (The Bucharest University of Economic Studies, National Scientific Research Institute for Labour and Social Protection)

  • Mocanu Cristina

    (National Scientific Research Institute for Labour and Social Protection)

  • Zamfir Ana-Maria

    (National Scientific Research Institute for Labour and Social Protection)

Abstract

Innovation is essential for European competitiveness and provides key inputs for developing business models that are conducive for a more sustainable economy. Recent evidences show that businesses have increased the management attention and investments they’re dedicating to sustainability. This paper aims to identify the most important drivers supporting companies to develop innovation activities oriented towards making the business models more sustainable. We explore microdata from the 2016 Innobarometer “EU Business Innovation Trends” (Flash Eurobarometer 433), covering 14,112 companies from 30 countries. Using statistical classification methods, we identify the most important factors that are related to innovation activities that have potential to shape the efficiency of raw materials usage and the environmental protection. Special focus is given to companies’ investments in training, software development, research and development, company branding, design of products and services, organization or business process improvements and acquisition of machines, equipment, software or licenses. Also, our analysis highlights the skills that are needed the most by companies in order to support their innovation activities targeting sustainability. Our results are useful for better understanding the attention that is given to sustainability by innovative companies and which are the main factors that boost innovation dedicated to sustainability.

Suggested Citation

  • Grigorescu Adriana & Maer Matei Monica Mihaela & Mocanu Cristina & Zamfir Ana-Maria, 2019. "Key drivers and skills need for innovative companies focused on sustainability," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 13(1), pages 717-727, May.
    • Handle: RePEc:vrs:poicbe:v:13:y:2019:i:1:p:717-727:n:64
    DOI: 10.2478/picbe-2019-0064
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    Cited by:

    1. Ionica Oncioiu & Delia-Mioara Popescu & Anca Elena Aviana & Alina Șerban & Florica Rotaru & Mihai Petrescu & Andreea Marin-Pantelescu, 2020. "The Role of Environmental, Social, and Governance Disclosure in Financial Transparency," Sustainability, MDPI, vol. 12(17), pages 1-16, August.
    2. Mirela Panait & Irina Radulescu & Alina Brezoi, 2020. "Financial Markets – Under the Sign of CSR. Some Evidences Regarding Financial Education," Book chapters-LUMEN Proceedings, in: Adriana Grigorescu & Valentin Radu (ed.), 1st International Conference Global Ethics - Key of Sustainability (GEKoS), edition 1, volume 11, chapter 11, pages 96-106, Editura Lumen.
    3. Valeska V. Geldres-Weiss & Nicolás Gambetta & Nathaniel P. Massa & Skania L. Geldres-Weiss, 2021. "Materiality Matrix Use in Aligning and Determining a Firm’s Sustainable Business Model Archetype and Triple Bottom Line Impact on Stakeholders," Sustainability, MDPI, vol. 13(3), pages 1-22, January.
    4. Amalia-Elena Ion & Denisa-Atena Costovici, 2020. "Innovation Policy and Artificial Intelligence in the Business and Economic Transformation of the European Freight Transport Industry," Book chapters-LUMEN Proceedings, in: Marcin Waldemar STANIEWSKI & Valentina VASILE & Adriana Grigorescu (ed.), International Conference Innovative Business Management & Global Entrepreneurship (IBMAGE 2020), edition 1, volume 14, chapter 13, pages 168-186, Editura Lumen.
    5. Ionica Oncioiu & Anca-Gabriela Petrescu & Florentina-Raluca Bîlcan & Marius Petrescu & Melinda Timea Fülöp & Dan Ioan Topor, 2020. "The Influence of Corporate Governance Systems on a Company’s Market Value," Sustainability, MDPI, vol. 12(8), pages 1-15, April.
    6. Claudia Ogrean & Mihaela Herciu, 2020. "Business Models Addressing Sustainability Challenges—Towards a New Research Agenda," Sustainability, MDPI, vol. 12(9), pages 1-28, April.
    7. Ionica Oncioiu & Anca-Gabriela Petrescu & Florentina-Raluca Bîlcan & Marius Petrescu & Delia-Mioara Popescu & Elena Anghel, 2020. "Corporate Sustainability Reporting and Financial Performance," Sustainability, MDPI, vol. 12(10), pages 1-13, May.
    8. Alberto Melane-Lavado & Agustín Álvarez-Herranz, 2020. "Cooperation Networks as a Driver of Sustainability-Oriented Innovation," Sustainability, MDPI, vol. 12(7), pages 1-26, April.
    9. Michaela Kotkova Striteska & Viktor Prokop, 2020. "Dynamic Innovation Strategy Model in Practice of Innovation Leaders and Followers in CEE Countries—A Prerequisite for Building Innovative Ecosystems," Sustainability, MDPI, vol. 12(9), pages 1-20, May.
    10. Ionica Oncioiu & Delia-Mioara Popescu & Elena Anghel & Anca-Gabriela Petrescu & Florentina-Raluca Bîlcan & Marius Petrescu, 2020. "Online Company Reputation—A Thorny Problem for Optimizing Corporate Sustainability," Sustainability, MDPI, vol. 12(14), pages 1-13, July.
    11. Anca Gabriela Petrescu & Florentina Raluca Bîlcan & Marius Petrescu & Ionica Holban Oncioiu & Mirela Cătălina Türkeș & Sorinel Căpuşneanu, 2020. "Assessing the Benefits of the Sustainability Reporting Practices in the Top Romanian Companies," Sustainability, MDPI, vol. 12(8), pages 1-31, April.
    12. Andreea Mocanu, 2020. "Measuring the Level of Ethics within the Project Team," Book chapters-LUMEN Proceedings, in: Adriana Grigorescu & Valentin Radu (ed.), 1st International Conference Global Ethics - Key of Sustainability (GEKoS), edition 1, volume 11, chapter 20, pages 192-202, Editura Lumen.
    13. Maricica-Dănuta Bîtcă (Bunghez) & Gicu-Valentin Dogaru & Razvan-Ion Chitescu, 2020. "Reform of Public Education System in Romania," Book chapters-LUMEN Proceedings, in: Marcin Waldemar STANIEWSKI & Valentina VASILE & Adriana Grigorescu (ed.), International Conference Innovative Business Management & Global Entrepreneurship (IBMAGE 2020), edition 1, volume 14, chapter 27, pages 369-379, Editura Lumen.

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    More about this item

    Keywords

    sustainable development; innovation; skills; resources efficiency; classification methods;
    All these keywords.

    JEL classification:

    • Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics
    • Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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