The impact of responsible innovations on the enterprise: Transformation, competitiveness, economic indicators, interaction with society and the state

Resumen

The subject of the article is to study the impact of responsible innovations on the activities of small and medium-sized enterprises in the EU. This study presents the following hypotheses about the impact of responsible innovation on the transformation, competitiveness and economic efficiency of enterprises, as well as society and the state. To collect data and test the hypotheses, a survey of SMEs in EU countries was conducted. The questionnaires filled out by managers and owners of 259 enterprises in various industries and with different forms of ownership were analyzed. Next, a factor analysis was conducted, and the proposed hypotheses were tested using structural equation modeling. As a result, it can be argued that the introduction of responsible innovations has a positive impact on the transformation processes, the level of competitiveness of the enterprise, economic efficiency, social processes and government regulation. Therefore, enterprises should pay attention to the development and implementation of appropriate strategies for responsible innovation, as this will have a positive impact on their activities.