Economic and Environmental Innovation Management of Plastic Waste

Abstract

The prominence of economic and environmental innovation management regarding plastic waste is transforming the revolutionary advancement of business excellence, therefore innovation has a primary position and is directly interrelated with the international organizations’ objectives. Today, businesses face various transformation challenges since innovation management is deeply embedded in the new dynamics of global economic expansion and competition. In the forthcoming, enterprises have to be able to design incorporated innovative methods that are flexible and stimulate a new narrative of progress. The objective of this paper is to emphasise the significance of the environmental innovation and economic management as principal sustainable business structures in order to support the hypothesis that one of the biggest problems with plastics as waste is that its reutilization or decontamination has not been solved yet. Thus, governance values have a huge impact on the organizational fulfilment in the innovation advancement, such as to protect the resources and the environment, seeking new ways of technical feasibility and economic viability by distributing economic benefits. All the scientific data are applied in a case study to propose a model of analysing and determining the need for innovative environmental strategies. The methodology used encompasses empirical research based on qualitative methods, outlining the decisive innovative factors towards more effective routines and transformation ascendency. The research results show a new invention and particular aspects of a business model when planning environmental innovation and highlight the importance of waste processing and destruction tool that leads to the growth of competitive, sustainable and innovative strategies.