ECONOMIC FEASIBILITY OF SUSTAINABLE INNOVATIONS

Abstract

Background. The theme of sustainability is widely supported in Kazakhstan at the state level and by large national companies, however, for medium and small enterprises this area requires awareness. Companies do not always understand the value of sustainable development innovations and how they can be effectively managed. This research describes the experiences of 7 organizations and, in particular, their efforts to introduce sustainable- driven innovations in Kazakhstan. This article is aimed at a study of medium and small companies in Kazakhstan that focused on the development of sustainable development innovations and reveal the barriers to development. Materials and methods. The study uses a qualitative research method, which is based on collecting and analysing qualitative data from semi-structured interviews. Results. Research results reveal that only 18 % of those surveyed were supported financially by government assistance. In addition, 87 % of respondents were faced with market and development barriers. 2 of investigated enterprises show 1st level of maturity while 5 of them correspond to the requirements of the 2nd level. Conclusions. The set of recommendations based on the modified Adams et al model will contribute to the creation of a sustainable development policy for small and medium-sized enterprises.

Keywords

• sustainable development
• sustainable development innovations
• company management
• development barriers
• environmental sustainability