9. Conclusions and scope of future work
Adoption of green practices, the production of green products and recycling activities are still at nascent stage in developing economies like India. Small and medium sector is especially lagging behind because of their limited size and small resource base. Green innovations can be a solution to their problem of implementing green practices, but they are also marred by many barriers. Neither studies related to barriers of green innovation in SMEs are present in context of developing countries, nor a framework to overcome these barriers is given anywhere in the literature. A deeper understanding of these barriers from academic managers and practitioners of green practices is required in the context of SMEs in developing countries.
To address this gap, the present study has developed a comprehensive framework to identify barriers of green innovation and also solutions to overcome these barriers. The framework was developed with the help of literature review and help from four managers of Indian SMEs. A total of seven main category barriers and thirty six subcategory barriers were identified, along with twenty solutions to overcome these barriers. These barriers were than subjected to Best-Worst analysis to rank them. The results of the analysis showed that managers of case companies found “technological and resource related barriers” as most important barriers followed with “financial and economic barriers” and “market and customer related barriers”. Further, Fuzzy TOPSIS analysis was used to rank solutions to overcome these barriers. “Designing of effective policies and framework by government and policy makers to reduce environmental degradation” is ranked first among solutions followed by “developing internal research practices at SMEs to carry out green innovation related activities and acquiring scientific managerise” and “focusing on investment recovery strategies like recovery, redeployment and reselling to reduce wastage of material”. Working on these solutions can greatly benefit managers of SMEs for their green initiatives.