Cultural Values as Catalysts of Technological Innovation for a Sustainable Future

Konstantina K. Agoraki (), Georgios A. Deirmentzoglou and Christos Triantopoulos
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Konstantina K. Agoraki: Department of Tourism Studies, University of Piraeus, 18534 Piraeus, Greece
Georgios A. Deirmentzoglou: Department of Economics and Business, Neapolis University Pafos, Paphos 8042, Cyprus
Christos Triantopoulos: Centre for Planning and Economic Research, 11 Amerikis Street, 10672 Athens, Greece

Sustainability, 2024, vol. 16, issue 5, 1-15

Abstract: Innovation is a key element for companies that aim to achieve and sustain a competitive advantage. Recently, a great number of academics and practitioners have focused on the role of cultural values to provide further incentives to firms to invest more in innovation that will give them a market edge. The purpose of this paper is to provide further insights into the relationship between cultural values and innovation. Primary data were collected from top managers in medium- and large-sized enterprises to determine how cultural values affect four types of technological innovation. The results indicate that two cultural values have a significant influence on firms’ innovative practices. Collectivism and uncertainty avoidance have a significant negative impact on radical, process and product innovation. Thus, we argue that managers who emphasize their personal ambitions and are comfortable with ambiguity are more likely to achieve innovation in their organization.

Keywords: technological innovation; cultural values; sustainable growth; innovation efficiency; societal values (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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