Entrepreneurs’ decision-making in sustainable open innovation practices

Abstract

Entrepreneurs’ decision-making in sustainable open innovation practices holds significant relevance in fostering environmentally conscious and socially responsible business strategies. Sustainable decision-making not only aligns with ethical principles but also addresses pressing global challenges such as climate change and resource depletion. This study aims to characterize the decision-making role played by entrepreneurs in the context of the open innovation paradigm and to understand the factors that influence entrepreneurial performance. A quantitative methodology supported by Partial Least Squares Structural Equation Modeling was adopted, considering a sample of 407 startups incubated in science and technology parks. After that, a mixed-methods approach was employed to explore the differences between sectors of activity, in which 4 ventures were involved. The results confirm that of the 9 hypotheses formulated in the relationship between the constructs, only innovation novelty is not significant for sustainable open innovation management processes, unlike innovation openness. This study offers theoretical and practical implications for startups that intend to use open innovation networks to integrate environmental and social considerations into the core of business strategies.