Influencing Factors of The Innovation Power in the Adoption of Sustainability Strategies

Abstract

The study aimed to analyze which are the best corporate environmental strategies to foster the innovation power of companies in the mining sector. The methodology used was the quantitative approach through multiple linear regression analysis were used to analyze the power of innovation and to see how the interrelationship between pressures and incentives can influence companies in the implementation of the sustainability strategy which resulted in five different models. The results show that different environmental strategies foster, in different ways, the power of innovation of companies in the analyzed mineral sector. Therefore, it became evident that cost reduction and adaptation to a strong regulatory environment are strategies capable of promoting external guidance and the transparency of innovation processes. Second, the search for reducing environmental impacts and adapting to a strong regulatory environment are strategies that strengthen knowledge of the business environment. In addition, the results show that leadership in products and processes can be optimized through strategies to reduce costs and environmental impacts. Finally, Autonomy and market leadership in relation to innovative initiatives can be achieved via cost reduction, incorporation of social and environmental guidelines, and adaptation to a strong regulatory environment. Thus, this study contributes to the theory and practice of innovation as it reveals to be the best corporate strategy capable of fostering the innovation power of companies in the mineral sector.