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PRODUCT INNOVATION AND SUSTAINABLE DEVELOPMENT OF EUROPEAN SMALL AND MEDIUM-SIZED ENTERPRISES IN THE INDUSTRY SECTOR

Authors

Keywords
product innovation, sustainable development, European SMEs in the industrial sector

Summary
Product innovations of European small and medium-sized enterprises (SMEs) in the industrial sector are one of the key instruments of sustainable economic development. The aim of the study is, based on the interpretation of theoretical views, to develop and validate a model for studying the relationship between product innovations and the sustainable development of the business activity of SMEs in the industrial sector of the European Union countries and on this basis to formulate conclusions and generalizations. To achieve the goal, research tasks have been defined: study of the nature of product innovations and their contribution to the sustainable development of SMEs; development of a Model for studying the relationship between product innovations and the sustainable development of the business activity of European SMEs in the industrial sector; validation of the proposed model; formulation of more significant conclusions and generalizations. The research thesis defended in the paper is that there is a natural relationship between the introduced product innovations and the sustainable development of the business activities of European SMEs in the industrial sector, explaining to a certain extent part of the emerging similarities and differences between the highlighted enterprises. The proposed study is based on collected data, published by Eurostat for the period 2012-2022. The processing of empirical data is carried out using the IBM SPSS Statistics software product and the Excel program. The methods of descriptive and comparative analysis, linear regression and correlation methods, as well as synthesis and generalization are used. The research utility of the obtained results is in deriving more important regularities in the product innovation and sustainable development of the business activity of European industrial enterprises of small and medium size.

JEL: L16, O14, O32
Pages: 1
Price: 3 Points

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