Innovative approaches to greening entrepreneurship

Abstract

The purpose of this study is to analyze the state of implementation of modern eco-innovations and assess their impact on improving the competitiveness of enterprises. Methodology. The main research methods were analysis and synthesis in the study of economic processes that accompanied innovation in enterprises; statistical analysis in the study of the dynamics of waste by type of economic activity and in households; comparative analysis in assessing the world practice of eco-innovation in production; specific and abstract comparative characteristics – in presenting the results, providing conclusions and suggestions for research. Results. Interactive links between innovation and greening are identified. It is emphasized that eco-innovation means a special form of innovation aimed at significantly improving the environment. A critical analysis of the regulatory framework governing sustainable development in Ukraine is made. A statistical assessment of the waste generation process by regions of Ukraine in 2019, including hazard classes I-III, is provided. A secondary statistical observation was conducted, based on the results of which it can be concluded that today three out of twenty people in the world prefer ecological products. It is stated that modern enterprises face a large number of challenges, among which the leading place is occupied by environmental protection and digitalization. The importance of digital, blue and green entrepreneurship (circular business) in Ukraine and the world is proved. The competitive advantages of “digital”, “green” (“blue”) business are obvious: environmental friendliness today is a global trend, and digitalization is the content and benchmark of entrepreneurship; there is currently little competition in green and blue business; their products are in growing demand among consumers; in these types of business there are endless opportunities for the manifestation of creative innovative ideas; these types of business are supported by the public, the state and the world community; eco-innovation can significantly reduce business costs, create conditions for investment and access to foreign markets. Practical implications. These practical recommendations can be applied not only in the Ukrainian business space, but also in the business of countries that have chosen sustainable development. Value/originality. The conducted research can become a theoretical basis for practitioners who aim to provide competitive advantages by greening activities. It is established that the competitive advantages of business today are formed under the influence of globalization processes, digitalization, increasing capital mobility, informatization, and most importantly – improving environmental living standards.