Abstract
The massive influx of global warming, pollution, natural resource depletion, waste, wastewater, climate change, and loss of biodiversity are the primary sources of motivating firms to innovate within their businesses. This has caused great concern for academicians, policymakers and practitioners to find solutions in dealing with the environmental issues. To provide the answer to the exiting challenges this study propounds the conceptual framework that explores the intervention of the new amendment in environment management system (14001–2015) towards innovation, comprehensive green innovation, and firm performance. Therefore, the main objective of this study is to find out the role and effect of ISO14001-(2015) on general innovation and comprehensive green innovation. This study combined the institutional theory, (environmental management system) resource-based theory (general innovation, comprehensive green innovation) and stakeholder theory (firm performance) to maximise the resources utilisation though newly amended EMS14001-2015 to meet the stakeholders demands without compromising the ecological standards. The proposed conceptual framework will provide a holistic view of the firm in formulating strategies and implementing a comprehensive green innovation to the industry. Implementation of a comprehensive green innovation will enable businesses to reduce the cost of production and end life cycle impact of the product, process, service and organisational innovation on the environment. By considering the end life cycle of innovation, including minimisation of the resource consumption, waste, waste to water and emission which will create a sustainable competitive advantage for the firm. All in all, this study propounds the conceptual framework of a comparative study between nomal innovation, comprehensive green innovation and organisation performance with the moderation of environmental management system (14001–2015).
Highlights
The global concern of environment and sustainable innovation has attracted the attention of industrialists, academia, local governments, and other institution
This study is at the initial stage, presenting a research model that investigates the moderating effect of the environmental management system (14,001–2015) onto the nexus between comprehensive green innovation, general innovation and business performance measured through financial ratios
The objective of the proposed study is to investigate the positive/negative pressure of environment management system (EMS) (14001–2015) on eco-friendly innovation which could save the firm resources natural resources that leads to increase in firm revenue generation and performance
Summary
The global concern of environment and sustainable innovation has attracted the attention of industrialists, academia, local governments, and other institution. In light of current business practices, green innovation has emerged as a new way of solving current environmental challenges (Hernandez-Vivanco, Bernardo, & Cruz-Cázares, 2018). Researchers believe that the inclusion of green innovation in companies strategies will boost firms to overcome barriers (environment challenges) and create more sustainable innovation. The above-mentioned challenges need to develop comprehensive green innovation paradigm to uproots the environment problems, which is lacking in most of the existing innovation paradigm. This study defines comprehensive green innovation as a combination of green product, green process, green service innovation (Operational) and green organisation innovation (Nonoperational) which provide the strategic vision of a comprehensive green innovation in research and development activity. This study suggests that comprehensive green innovation may accelerate resource-saving, creating more sustainable process, competitive advantage and generate higher revenue for the business
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