Abstract
Small- and medium-sized enterprises (SMEs) have played an income-generating role in economic notions of prosperity in many developed countries, especially Thailand. Inside green economy, fostering eco-innovation by open innovation has become an increasingly new normal issue in Thailand. The ability to identify and collaborate with external knowledge sources and eco-innovative characteristics of SMEs is of essence to policy-makers and firm practitioners. This paper aims to shed the new light on the adoption of open innovation into eco-innovation which leads to the open innovation mode. Simultaneously, eco-innovation requires green management practices to interact with the concept of open innovation. Through structural equation modelling, 636 firms were collected and employed to estimate the proposed model. The prominent results verify: (1) open innovation significantly affects eco-innovation, which allows to obtain the open eco-innovation mode, and (2) open innovation through green management practices contributes significant benefits to eco-innovation. Based on the evidence, policy-makers and firm practitioners can improve the open eco-innovation model by integrating open innovation and eco-innovation with green management practices in their strategic planning and decisions.
Highlights
Open innovation has been recognized as a robust mechanism for the sustainable busi ness innovation model development of small firms and as a lever of environmental, social and economic benefits across inter-firm boundaries (Srisathan et al, 2020)
Yes Yes Yes for the model 1 were adequate: CMIN/DF = 2.374; Root Mean Square Residual (RMR) = 0.038; Goodness of Fit (GFI) = 0.967; Adjusted Goodness of Fit (AGFI) = 0.952; Normed-Fit Index (NFI) = 0.965; Tucker Lewis Index (TLI) = 0.974; Comparative Fit Index (CFI) = 0.979; Root Mean Square Error of Approximation (RMSEA) = 0.047. This lends support to the open ecoinnovation theory (Ghisetti et al, 2015; Montresor et al, 2013), indicating that open innovation could result in eco-innovation which this current investigation can reach the new mode to implement the strategies and policies
We find that open innovation with small firms can boost eco-innovation, which allows us to obtain the open eco-innovation mode
Summary
Open innovation has been recognized as a robust mechanism for the sustainable busi ness innovation model development of small firms and as a lever of environmental, social and economic benefits across inter-firm boundaries (Srisathan et al, 2020). Inside the input process of innovation generation, the activities that relate to demonstrating the resources on a country’s requirement to produce goods and services and increasing unwanted products in the form of waste and pollution need to be well managed. Such economic activities and growth have altered the natural environment (Bergsman et al, 1975; Roberts et al, 2015). The increasing need has created to move towards the green economy for eco-friendlier driven innovation or eco-innovation This means new products, pro cesses, and management solutions that reduce the impact on the environment
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