Page 298 - Hojnik, Jana. 2017. In Persuit of Eco-innovation. Drivers and Consequences of Eco-innovation at Firm Level. Koper: University of Primorska Press
P. 298
In Pursuit of Eco-innovation
Second, environmental policy instruments should offer more assistance
and support to companies through the entire lifecycle of eco-innovations.
Market-oriented instruments (e.g., tradable permits and green taxes), reg-
ulations, and environmental standards are meant to hinder the operation
of non-compliant companies; however, too often they also hamper com-
panies that do comply. Moreover, tax exemptions could be applied more
often, either to the company that implements eco-innovations or to the
purchase of eco-products or services. For investments in process eco-in-
novation, which are more eco-efficient and pertain to the area of renew-
able energy (e.g., wind power, photovoltaic system, etc.), feed-in-tariffs
have proved worldwide to be a good practice in order to spur their im-
plementation. One of the last suggestions regarding environmental pol-
icy instruments concerns green public procurement, which is not yet ap-
298 plied and practiced to a desirable extent in the Slovenian environment,
but which has the potential to ease companies’ commercialization and
sales and to support their environmental efforts. Finally, the results of
our study reveal that managers play an important role in inducing eco-in-
novation in companies. Therefore, subsidies for education/training re-
lated to environmental topics, to either raise the level of environmental
awareness among companies’ managers and present them with opportu-
nities to seize from eco-innovation or to improve their knowledge and
expertise, could deliver important outcomes. Another suggestion would
be providing subsidies for employment of managers with backgrounds,
expertise or knowledge related to environmental issues and solutions,
making them more likely to pursue sustainability and steer companies
towards eco-innovation implementation. Lastly, critically needed are a
higher level of knowledge transfer among researchers and practitioners, a
stronger connection between research and practice and better collabora-
tion between public authorities (universities and research institutes) and
companies, all of which could greatly contribute to companies’ efforts to
implement or develop eco-innovations. A huge amount of hidden poten-
tial, opportunities and knowledge lies in this gap, which should be bet-
ter exploited.
Implications for entrepreneurs
Lastly, our results hold several implications for entrepreneurs. The results
of this study have revealed that implementation of process and/or organ-
izational eco-innovations leads to more successful company performance
in terms of company profitability, gain of competitive and economic ben-
efits and a higher degree of internationalization. This indicates that com-
Second, environmental policy instruments should offer more assistance
and support to companies through the entire lifecycle of eco-innovations.
Market-oriented instruments (e.g., tradable permits and green taxes), reg-
ulations, and environmental standards are meant to hinder the operation
of non-compliant companies; however, too often they also hamper com-
panies that do comply. Moreover, tax exemptions could be applied more
often, either to the company that implements eco-innovations or to the
purchase of eco-products or services. For investments in process eco-in-
novation, which are more eco-efficient and pertain to the area of renew-
able energy (e.g., wind power, photovoltaic system, etc.), feed-in-tariffs
have proved worldwide to be a good practice in order to spur their im-
plementation. One of the last suggestions regarding environmental pol-
icy instruments concerns green public procurement, which is not yet ap-
298 plied and practiced to a desirable extent in the Slovenian environment,
but which has the potential to ease companies’ commercialization and
sales and to support their environmental efforts. Finally, the results of
our study reveal that managers play an important role in inducing eco-in-
novation in companies. Therefore, subsidies for education/training re-
lated to environmental topics, to either raise the level of environmental
awareness among companies’ managers and present them with opportu-
nities to seize from eco-innovation or to improve their knowledge and
expertise, could deliver important outcomes. Another suggestion would
be providing subsidies for employment of managers with backgrounds,
expertise or knowledge related to environmental issues and solutions,
making them more likely to pursue sustainability and steer companies
towards eco-innovation implementation. Lastly, critically needed are a
higher level of knowledge transfer among researchers and practitioners, a
stronger connection between research and practice and better collabora-
tion between public authorities (universities and research institutes) and
companies, all of which could greatly contribute to companies’ efforts to
implement or develop eco-innovations. A huge amount of hidden poten-
tial, opportunities and knowledge lies in this gap, which should be bet-
ter exploited.
Implications for entrepreneurs
Lastly, our results hold several implications for entrepreneurs. The results
of this study have revealed that implementation of process and/or organ-
izational eco-innovations leads to more successful company performance
in terms of company profitability, gain of competitive and economic ben-
efits and a higher degree of internationalization. This indicates that com-
