Cogent Business & Management (Dec 2024)
Analyzing the determinants factors for the implementation of eco-innovation in the developing economies, a case of Tanzania agri-food sector
Abstract
AbstractThe aim of this article is to address the global imperative of environmental sustainability by enhancing the implementation of eco-innovation practices within industries operating in developing economies. The study focuses on investigating the pivotal factors that influence the implementation of eco-innovation within the food and beverage sector. The research employs multiple regression analysis within a structural equation model (SEM) to examine the relationships between various factors and the implementation of eco-innovation involving 102 industries. The results of the analysis reveal that the successful implementation of eco-innovation is significantly influenced by specific internal and external factors. These include the availability of adequate financial resources, active engagement of internal and external stakeholders in environmental innovation, investments in research and development activities related to environmental issues, and responsiveness to customer concerns regarding industrial eco-innovations. Additionally, the combination of effective environmental regulations and targeted policy instruments, along with access to environmentally friendly technologies, also emerged as significant determinants of eco-innovation success. Whereas, internal knowledge, motivation, and competition, found to be insignificant in their influence on eco-innovation implementation. This study recommends that policymakers and eco-innovation stakeholders prioritize strategies that emphasize the identified significant factors to enhance eco-innovation implementation towards achieving both environmental sustainability and economic growth.
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