Title
Assessment of the application of environmentally friendly technologies to increase business competitiveness
Abstract
The paper analyses the impact of the application of environmentally friendly technologies on business competitiveness, taking into account the principles of sustainability and the aspects of business competitiveness. The growing awareness of environmental issues encourages companies to introduce innovative, environmentally friendly technologies, which reduce the negative impact on the environment and create the prerequisites for the formation of business competitive advantages. The paper presents a theoretical concept of environmental innovations and an analysis of their benefits for business. It also discusses the key factors influencing the uptake of these technologies, ranging from regulatory policy and financial incentives to consumer expectations and companies' strategic objectives. The empirical part of the study includes an analysis of three production sectors' performance results to assess how environmentally friendly technologies contribute to competitive advantage, digitalisation and sustainability. Following three stages of methodology, the study applies COPRAS method and grouping of countries based on the performance of production sectors (in particular, food, rubber, and furniture). The results reveal that most companies surveyed see the introduction of technology as an investment in long-term business success. The paper provides recommendations for companies seeking to strengthen their market position through sustainable technologies. The results are relevant for both business practice and public policy to create a sustainable and competitive production environment.
Keywords
environmentally friendly technologies, business competitiveness, environmental issues, sustainability, production
JEL classifications
O30 , Q01 , Q50
URI
http://jssidoi.org/jesi/article/1321
DOI
Pages
409-421
Funding
The Research Council of Lithuania funds this publication under the Student Research Programme during the study semesters (project P-ST-24-232 "Assessment of the application of environmentally friendly technologies to increase business competitiveness").This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License
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