Sustainability and innovation: the case of Industry 4.0
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Abstract
In the last years, sustainability is increasing in popularity not only among firms
but also among their stakeholders. In addition to a growth in sales, companies
can improve their financial and investment opportunities as well as reduce operational
costs and become more productive, minimize carbon fossil used and improve
energy efficiency, opting for renewable opportunities, such as solar energy
and wind power. According to the literature, there seems to be a correlation between
sustainable companies and innovation. Therefore, advanced technologies
may contribute to sustainability. This is the case of the Fourth Industrial revolution,
an industry paradigm shift introducing many new technologies. Thanks to
such technologies, it is indeed possible to monitor and reduce emissions, diminish
waste and have a more efficient production. Research suggests that there are differences
as larger firms are more technologically advanced and more innovative
than smaller ones. Assuming that technological level is an indicator of sustainable
practices, the objective of this paper was to assess differences at technological
level among micro, small, medium and large companies. This was achieved by
analyzing data of a survey conducted in Slovakia and Italy, the respondents to
which were owners and managers.
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