Abstract
AbstractThe growth of any country depends upon the existence of small- and medium-scale enterprises (SMEs). The greater the number of SMEs present in any country, the economy of the country increases in the same proportion. This paper uses the qualitative research technique to study the critical factors which affect the integration of sustainability with innovation taking into account Indian manufacturing SMEs. An ISM approach is applied to establish the interrelationship between the various critical factors. And with the help of Fuzzy Micmac technique, driver dependence power diagraph is created. From our analysis, it has been found that “government regulation” has the highest dominating power which helps in successful execution of integrating sustainability with innovation. Variables “employee nature” and “working culture” have the highest dependence power. The success of these variables depends on the success of the variables below them. Finally, the limitations of using the above techniques are discus...
Highlights
Globalization of markets, quick technological advances in technology, and shorter product lifecycles are forcing small- and medium-scale enterprises (SMEs) toward innovation which has to be sustainable to gain competitive advantage
Our research study aims to identify the critical factors which affect integration of sustainability with innovation for Indian SMEs
A study conducted by Mc Kinsey & Company on climate change led to the conclusion that 60% of the executives who were asked questions take into notice climate change essential and are keen to showcase new items which are eco-friendly
Summary
Globalization of markets, quick technological advances in technology, and shorter product lifecycles are forcing small- and medium-scale enterprises (SMEs) toward innovation which has to be sustainable to gain competitive advantage. It is not possible nowadays to think about economic development without considering preservation of the environment at the same time and giving shared advantage to the society (Khurana, Mannan, & Haleem, 2014). In this way, corporations are routinely looking to utilize extensive variety of input resources which have better productivity and increased responsibility in their products and technologies used to manufacture the products. Schumpeter was the first who used the innovation concept in his research study He defined innovation as the implementation of a new or significantly improved product, process, etc. As SMEs have limited resources, to what extent they are able to implement the innovative approaches is the focus of the study
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