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Article

The Mediating Role of Eco-Innovation between Adaptive Environmental Strategy, Absorptive Capacity, and Environmental Performance

by
Juan Manuel Bucheli
1,*,
Ricardo Santa
2,
Thomas Tegethoff
2 and
Katherine Quintero
3
1
Institución Universitaria Escuela Nacional del Deporte, Cali 7600, Colombia
2
Colegio de Estudios Superiores de Administración—CESA, Bogota 110311, Colombia
3
Escuela Militar de Aviacion—EMAVI, Cali 5867, Colombia
*
Author to whom correspondence should be addressed.
Sustainability 2024, 16(15), 6504; https://doi.org/10.3390/su16156504
Submission received: 5 June 2024 / Revised: 10 July 2024 / Accepted: 24 July 2024 / Published: 30 July 2024
(This article belongs to the Special Issue Sustainability Management Strategies and Practices—2nd Edition)
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Abstract

:
This article delves into the role of adaptive environmental strategies, absorptive capacity, and eco-innovation in enhancing environmental performance, particularly in the context of market turbulence. The study, conducted among 568 companies in Colombia, employs structural equation modeling to evaluate relationships between the studied variables. The findings suggest that adaptive strategies alone do not directly impact environmental performance, emphasizing the need for integration with eco-innovation initiatives. Moreover, organizations with high absorptive capacity can leverage market turbulence to drive eco-innovative initiatives, highlighting the indirect yet significant impact of market turbulence on environmental performance through absorptive capacity. The study underscores the critical role of eco-innovation in directly influencing environmental outcomes, suggesting that the effectiveness of adaptive strategies and absorptive capacities hinges on successful eco-innovation initiatives. These insights offer practical guidance for organizations seeking to enhance their environmental performance in turbulent markets, providing a roadmap for sustainable business practices.

1. Introduction

Environmental degradation and global resource scarcity are unquestionable realities at present. Numerous academic works have addressed this issue from various study disciplines. Additionally, many environmental policies and regulations have emerged internationally, within different countries, and locally. In this context, it is recognized that the conventional rationality of industrial activity is carried out at the expense of externalities towards nature, which, in turn, manifest as environmental crises due to the inability of ecosystems to reproduce at the same rate as they are altered. Therefore, it is argued that transitioning to a sustainable economy that takes into account the limits of the biological ecosystem is essential to prevent an ecological catastrophe [1].
Some modern authors support the ideas of sustainability within the new economic thought. Ekins [2] advocates ecological modernization as a process of social change in which societies become more efficient in using resources and less polluting while maintaining or enhancing human well-being. Additionally, Ekins [2] mentions green growth as economic growth achieved without increasing the use of natural resources or environmental pollution. On the other hand, Klein [3] argues that the climate crisis is not a technical problem but a political and economic one. Furthermore, Broome (2021) maintains that we all have a responsibility to act to protect the environment [4].
Organizations increasingly recognize the importance of aligning their operations with environmental objectives to promote sustainability and address environmental challenges. This alignment, known as environmental strategy, goes beyond mere compliance with legal obligations and involves proactive measures to integrate sustainability into organizational policies and practices. Environmental strategy encompasses social and environmental aspects, balancing organizational needs with societal demands. Effective environmental strategies require active participation at all organizational levels to drive sustainable improvements and generate value for the company, society, and the environment [5].
The impulse towards sustainable development in Colombia necessitates organizations focus their innovation on organizational strategies, absorptive capacities, and eco-innovation to address turbulent markets and achieve positive environmental impact. This challenge is crucial in economies demonstrating socioeconomic progress and sensitivity towards sustainability. In this context, where the Sustainable Development Goals (SDGs) are prioritized in the strategic agenda, it is fundamental to establish the foundations for orderly resource management and structures that promote sustainable development. In addition to a circular economy, models promoting knowledge management as an asset for generating eco-innovations are required. These strategies aim not only to address environmental challenges but also to achieve economic and social objectives. It is essential for companies to comprehend the significance of their role within the context of the Agenda 2030 and to adopt practices that contribute to sustainable development across all dimensions [6,7].
Subsequently, organizations must adopt eco-innovative practices that reduce material consumption, control emissions, and minimize waste generation to enhance environmental performance. Eco-innovation represents a strategic approach to sustainable development by integrating environmental concerns into the innovation process. It emphasizes reducing environmental impacts throughout product lifecycles, promoting cleaner production methods, resource efficiency, and circular economy principles. Eco-innovation transcends conventional notions of innovation by incorporating organizational, systemic, and social innovations that contribute to sustainability [8].
Nevertheless, the implementation of eco-innovative practices could be affected by market turbulences. Market turbulence, characterized by rapid technological advancements, evolving consumer expectations, and increased competition, poses challenges for organizations to anticipate and adapt to changes independently of their nature. Managing market turbulence requires organizations to be proactive, innovative, and capable of swiftly implementing strategies that foster creativity. The dynamic nature of market turbulence necessitates continuous adaptation and strategic decision-making to reduce risks and capitalize on emerging opportunities [8].
The organization’s absorptive capacity is a significant factor in implementing innovation projects [9]. Absorptive capacity enables organizations to identify, acquire, assimilate, and apply external knowledge to drive innovation and adopt sustainable practices. It facilitates an organization’s ability to navigate turbulent market conditions, gain competitive advantages, and achieve sustainability goals. Absorptive capacity is a dynamic and adaptable process influenced by internal competencies such as knowledge base, organizational culture, and learning processes. Organizations must constantly update their knowledge base and refine internal processes to maintain adequate absorptive capacity [10].
This article highlights the interplay between adaptive environmental strategies, absorptive capacity, eco-innovation, and environmental performance in market turbulence. Consequently, the research question for this study is as follows:
“What is the impact of market turbulences on the interplay of adaptive environmental strategies, absorptive capacity, eco-innovation, and environmental performance?”
The research, encompassing a sample of 568 companies operating in Colombia, utilizes structural equation modeling (SEM) as a methodological approach to analyze and assess the intricate relationships between small and medium-sized enterprises (SMEs) within the Colombian business landscape.

2. Theoretical Background

2.1. Market Turbulence

The contemporary business landscape is characterized by a confluence of dynamic forces, including technological advancements, evolving consumer expectations, and heightened competitive pressures, all of which collectively conspire to accelerate product lifecycles and complicate customer demands [11]. Organizations must adopt a proactive and innovative stance to ensure their survival and relevance within the marketplace [12]. However, managing this dynamic environment presents formidable challenges exacerbated by the rapid and unpredictable changes that characterize today’s volatile business landscape [13].
Market turbulence, as an external force, exerts a sequential influence on firms’ strategic plans and the extent of their engagement in eco-innovation initiatives [14]. It has to be noted that market turbulence is not a static phenomenon but an ongoing process necessitating continual adaptation and strategic decision-making by organizations to navigate the ever-shifting business landscape effectively. However, market turbulence is characterized by uncertainty and difficulties in predicting future market events [8,15].
Market turbulence is one of the most critical factors experienced by firms. In this context, companies facing high turbulence levels must manage uncertainty, reduce risks, adopt proactive perspectives, and swiftly implement strategies that foster creativity and resilience. Success in highly turbulent environments is intrinsically linked to firms’ strategic and operational efficiency, highlighting the imperative for agile and adaptive business practices [16,17].
Moreover, within the horizon of market turbulence lie environmental variables that profoundly influence sustainable business performance. These variables encompass a spectrum of factors, ranging from evolving market stakeholder requirements to shifts in regulatory frameworks, including environmental regulations, which necessitate a nuanced and responsive approach from organizations seeking to thrive amidst turbulent market conditions [18].
Consequently, we propose the following hypotheses:
H1. 
Market turbulences positively influence adaptive environmental strategy.
H2. 
Market turbulences positively influence environmental performance.
H3. 
Market turbulences positively influence absorptive capacity.
H4. 
Market turbulences positively influence eco-innovation.

2.2. Adaptive Environmental Strategy

Environmental Strategy encompasses a comprehensive array of actions and strategic plans formulated and executed by organizations to proactively tackle environmental concerns, mitigate adverse environmental footprints, and foster the adoption of sustainable methodologies [19]. These multifaceted strategies are meticulously crafted to align business operations with environmental goals, guaranteeing responsible utilization and preservation of natural resources and ecosystems, ultimately contributing to societal welfare and ecological resilience.
A key aspect of Environmental Strategy lies in its proactive orientation toward sustainability, transcending mere adherence to regulatory frameworks and legal mandates. By adopting a forward-thinking approach, organizations not only comply with existing environmental regulations but also pioneered the development and implementation of innovative sustainability policies and practices that surpass minimum requirements, thus serving as exemplars of environmental stewardship and corporate responsibility. This proactive stance underscores the strategic significance of Environmental Strategy as a cornerstone of contemporary business ethos, enabling organizations to navigate the complex interplay between economic imperatives, environmental conservation, and societal well-being with foresight and efficacy [20].
The strategy concept entails pursuing future positioning for organizations based on strategic thinking sensitive to eco-innovation. This sensitivity involves understanding and applying the concept of eco-innovation within the business model, integrating it as a fundamental part of its normal operation. Eco-innovation is expected to be a regular outcome, as it addresses the challenge of planetary sustainability and the need for organizational sustainability. The organization’s strategy should be based on a solid understanding of international eco-innovation trends and their influence on organizational objectives. This knowledge should inform the development of strategic positioning and the organization’s strategic plan, thereby contributing to its value proposition [7,21].
Considering external developments and internal strengths and weaknesses, integrating environmental strategy is an indispensable component of a company’s sustainability framework. This strategic imperative entails incorporating social and environmental dimensions into the fabric of strategic management processes, thereby harmonizing organizational imperatives with broader societal expectations [22]. An essential aspect is the pivotal role of internal dynamics, such as organizational culture and operational structures, in shaping the efficacy and outcomes of environmental strategies.
Companies with a strong sustainability ethos yield more robust and enduring results, underscoring the symbiotic relationship between organizational culture and the effectiveness of environmental strategy. Moreover, the successful implementation of environmental strategies hinges upon active and inclusive engagement across all echelons of the organization, fostering a culture of collaboration and collective responsibility towards authentic sustainability outcomes [23].
The design and execution of effective environmental strategies necessitate a nuanced understanding of internal and external contextual factors. Stakeholder demands, geographic nuances, and temporal variations in environmental conditions must be meticulously considered and navigated to tailor contextually relevant strategies and responsive to evolving challenges. Organizations can proactively address environmental imperatives by adopting a flexible and adaptive approach while concurrently capitalizing on emerging opportunities for sustainable innovation and value creation [24].
Therefore, we propose the following:
H5. 
Adaptive environmental strategy positively influences eco-innovation.
H6. 
Adaptive environmental strategy positively influences absorptive capacity.
H7. 
Adaptive environmental strategy positively influences environmental performance.

2.3. Eco-Innovation

Eco-innovation has generally been accepted as one of the main pathways to sustainable development from a business practice perspective, based on the following four fundamental aspects of its definition: Firstly, eco-innovation pertains to the object of innovation, encompassing diverse facets within the organizational landscape. This perspective recognizes innovation as a technological endeavor and a holistic process spanning organizational structures, business models, and operational practices, fostering a comprehensive approach to sustainability-driven transformation [25].
Secondly, an essential aspect of eco-innovation is minimizing environmental impact by exerting strict control over resource consumption, emissions, and waste pollutants. By prioritizing environmental stewardship and adopting practices towards resource efficiency and pollution mitigation, eco-innovation aims to reconcile economic imperatives with ecological integrity, thereby engendering sustainable value creation [7].
Thirdly, eco-innovation proposes a market-oriented ethos based on competitiveness and stakeholder engagement. Organizations can leverage eco-innovation as a strategic tool to enhance market positioning, foster customer loyalty, and capitalize on emerging sustainability-driven market opportunities by aligning innovation initiatives with market dynamics and stakeholder expectations [8].
Lastly, eco-innovation’s essence lies in its intrinsic commitment to sustainability, affirming the dual imperative of economic prosperity and societal well-being. By embracing sustainability as a guiding principle, eco-innovation can overcome short-term profit motives and advance a vision of business success predicated upon long-term viability, social responsibility, and environmental stewardship [20].
International bodies such as the Organization for Economic Co-operation and Development (OECD) point out that only the effect of reducing environmental impact is essential when defining eco-innovation. The OECD’s definition suggests that motivation can be other than environmental, such as cost reduction through waste management. Similarly, emphasis is placed on the previous definition of an improvement over possible alternatives. According to Schiederig et al. [26], this is an essential aspect since it is necessary to compare with intra and inter-organizational alternatives and, therefore, can only be defined relatively and temporarily, which is essential precision for SMEs given their characteristics.
Consequently, eco-innovation, also known as ecological innovation or environmental innovation, represents a strategic approach towards sustainable development by integrating environmental concerns into the innovation process across various sectors of society, industry, and governance. It embodies a multifaceted paradigm aimed at fostering economic growth, enhancing competitiveness, and mitigating environmental degradation simultaneously [27].
At its core, eco-innovation transcends conventional notions of innovation by not solely focusing on technological advancements but also encompassing organizational, systemic, and social innovations that contribute to the sustainability agenda [28]. One fundamental aspect of eco-innovation is its emphasis on reducing environmental impacts throughout the entire lifecycle of products, processes, and services. Reducing environmental impacts entails adopting cleaner production methods, resource efficiency, waste minimization, and utilizing renewable energy sources. Eco-innovation aims to foster closed-loop systems, where materials are reused, recycled, or repurposed, thereby promoting circular economy principles [29].
Therefore, we propose the following:
H8. 
Eco-innovation positively influences environmental performance.

3. Absorptive Capacity

Absorptive capacities refer to an organization’s ability to identify, acquire, assimilate, and effectively apply knowledge or information from external sources to drive innovation and adopt sustainable practices [30,31]. Davenport and Prusak [32] define absorptive capacities as an organization’s ability to learn from external sources, assimilate, and apply that knowledge in its context. Similarly, Cohen and Levinthal [9] describe absorptive capacities as a company’s ability to recognize the value of new external information, assimilate it, and effectively apply it to improve innovation and performance.
Absorptive capacities are recognized as a core capability of organizations, as they facilitate adopting environmental changes, sustainable practices, and eco-innovation strategies. Additionally, these capacities enable organizations to navigate effectively in turbulent market conditions, allowing them to gain competitive advantages in their pursuit of sustainability [10,33,34].
Absorptive capacity is not limited solely to external demand or available resources but also relies on the organization’s internal competencies, knowledge base, organizational culture, and learning processes [35]. Also, Absorptive capacity is revealed as a dynamic and adaptable process. Organizations must constantly update their knowledge base, refine their internal processes, and adapt to changing environmental conditions to maintain adequate absorptive capacity. It is important to emphasize that the concept of absorptive capacity varies from one organization to another. Different entities may exhibit varying levels of absorptive capacity, conditioned by factors such as industry characteristics, company size, technological capabilities, and leadership support [30,36].
Consequently, we propose the following:
H9. 
Absorptive capacity positively influences eco-innovation.
H10. 
Absorptive capacity positively influences environmental performance.

4. Environmental Performance

Companies must adopt eco-innovative practices and promote environmental sustainability to acquire a competitive advantage. Environmental performance can be defined as a mechanism through which an organization incorporates environmental issues into its operational activities as required by acceptable standards [37].
Material consumption reduction is one of the critical aspects of environmental performance. It has been demonstrated that companies implementing eco-innovation practices achieve a reduction in material and natural resource consumption, leading to not only environmental but also economic benefits [38]. Barriga et al. [6] argue that reducing material consumption is crucial to sustainable environmental performance. They emphasize the importance of implementing measures to optimize resource use and reduce waste generation. Similarly, they highlight the importance of controlling emissions and waste to minimize adverse environmental impacts [6]. Effectively controlling emissions and waste is essential for achieving sustainable environmental performance.
Additionally, implementing recycling and product reuse strategies cannot be underestimated, as this contributes to resource conservation and reduces overall environmental impact [8]. By involving waste reuse and recycling, organizations can minimize their environmental footprint and achieve more sustainable practices. Likewise, they can reduce production costs by decreasing the need to acquire new materials [21].
Consequently, sustainability practices related to environmental performance include adopting cleaner production technologies, implementing the best available techniques, and improving energy efficiency. These practices contribute to reducing greenhouse gas emissions, conserving natural resources, and protecting ecosystems [39].
The following Figure 1 delineates the hypothesis for this study, grounded in the literature review.

5. Methodology

The methodology employed in this investigation is confirmatory, as it allows the researcher increased flexibility in formulating hypotheses. The empirical inquiry gathered data from small and medium-sized enterprises (SMEs) in Cauca and Valle del Cauca regions, Colombia. The roster of organizations was acquired from the Cauca and Valle del Cauca Chamber of Commerce, institutions responsible for registering information about legally established entities and conducting annual commercial registration.
As defined by Colombian legislation, small and medium-sized enterprises (SMEs) encompass those with a staff count of fewer than 200 employees and assets totaling up to 30,000 times the prevailing legal monthly minimum wage. These entities constitute 99.5% of the overall national business landscape.
Probabilistic sampling, using simple random sampling, was employed in this study. Simple random sampling is a sampling method that ensures that all elements in the population have an equal chance of being selected. This implies that the study’s findings can be generalized to the entire population of SMEs in the two regions. The population obtained was 5627 SMEs, and the sample size was 568 SMEs, representing 10.09% of the total SME population in the region. The sample consisted of the surveys completed correctly and submitted between 1 April and 30 June 2023.
The Cauca Chamber of Commerce and Valle del Cauca Chamber of Commerce provided a list of SMEs from various economic sectors based on information from Public Records. Formal requests were made for information, and the obtained SME database formed the basis for the study. Questionnaires were distributed to email addresses in the databases, with collaboration requested specifically from SMEs implementing or developing sustainability practices and projects. Emphasis was placed on the requirement that the respondent be the leader of these activities. Reminder calls were made to companies to ensure compliance with the criteria mentioned.
Based on the overall sample result obtained and considering that this is a study based on a structural analysis model, the sample’s representativeness was additionally verified by the ‘ten times rule’ of Hair et al. [40], which stipulates that the sample must be at least ten times larger than the number of latent variables or constructs considered in the model.
The survey instrument was designed based on the work of Mazaheri et al. [18] and Hojnik [21] for the market turbulence section. Adaptive environmental strategy and environmental performance were based on Baumgartner and Rauter [20] and Hojnik [21]. Eco-innovation is considered the work developed by Barriga et al. [6]. Finally, absorptive capacities were based on Tseng et al. [7] and Albort-Morant [41]. Employing a five-point Likert scale ranging from “Completely Agree” to “Completely Disagree,” the questionnaire evaluated variables at an ordinal measurement level. It comprised a structured series of statements concerning the operationalization of the model’s variables, divided into two sections: Section 1 characterized the respondent and the respondent organization. In contrast, Section 2 contained statements about the different variables.
The ethics committee of the Colegio de Estudios Superiores de Administración (CESA) in Colombia reviewed the questionnaire to ensure it was impartial, non-threatening, and free from social desirability bias. Approval was granted with letter Number 0008-2023. The committee ensured that the questions were neutral, unbiased, and non-threatening to mitigate social desirability bias. Before participants completed the questionnaire, they were informed that all provided information would be treated confidentially, that responses would be aggregated and used solely for research purposes, that completing the survey implied consent to such use, and that they could withdraw at any time. The researchers adhered to ethical procedures by following established standards. Participants were assured that all information would remain confidential, that responses would be compiled for study purposes, that completing the survey constituted consent, and that they could withdraw at any time. This study was conducted following ethical principles and protocols.

6. Data Analysis

Figure 2 shows the role of the respondent in the organization. The graph indicates that 43% of the respondents were managers, 29.2% were line managers, and 16.2% were CEOs. This information indicates that the sample used for this research is knowledgeable about the topics in the questionnaire.
Data analysis was conducted using SPSS and AMOS software version 28, encompassing the confirmation of the conceptualized model as illustrated in Figure 1. The variables of the structural equation model were constructed utilizing the mean values derived from the ratings of the statements. This approach aligns with our research’s suitability, which involves examining latent variables, their interrelationships, and the congruence between the prescribed sample and the collected data [42]. The following steps were followed to evaluate the internal consistency of the latent constructs:
Cronbach’s alpha coefficient, which measures the reliability of the whole scale, was calculated. Internal consistency was evaluated by ensuring all items correlated above 0.70 [43]. The specific values for Cronbach’s alpha coefficient can be found in Table 1.
Second, Confirmatory Factor Analysis (CFA) was performed with specific settings. The discrepancy was assumed to be asymptotically distribution-free. The covariances supplied as input were unbiased, and maximum likelihood estimation was used to analyze the covariances. Furthermore, construct validity was assessed. This process involves testing whether the observed variables measure the intended constructs. By examining the fit indices of the model, we can determine whether the proposed measurement model adequately represents the underlying theoretical framework [44].
Third, factor loadings were calculated to assess the strength of the relationship between the observed variables and the underlying constructs. It is important to note that each item was only loaded on one specific construct, ensuring the measurement model is adequately specified.
Fourth, construct validity was evaluated. This step allows us to determine whether the proposed measurement model accurately represents the underlying constructs and provides evidence for their validity [45].
Finally, no evidence of multicollinearity in the data was found [44]. The variance inflation factor (VIF) derived from the regression analysis was utilized to gauge the interaction between independent variables. A VIF value is a typical assessment of multicollinearity. To avoid overfitting, the model’s fitting propensity was evaluated by examining parsimony indices, including PNFI, PCFI, and PGFI [44].
We compared the square root of the average variance extracted (AVE) to evaluate the model’s reliability. AVE measures the indicator variance, and the latent variable explains it relative to that due to measurement error [45]. Ideally, the AVE should exceed 0.50, indicating that the latent construct accounts for over 50% of the indicator variance [46].
Internal consistency (reliability) was assessed using Werts, Linn, and Jöreskog’s composite reliability measure [47]. Composite reliability is considered a more accurate measure of reliability than Cronbach’s alpha, which is a lower-bound reliability estimate. The construct loading factors, Cronbach’s alphas, squared AVE statistics, and composite reliabilities are summarized in Table 1. The results show that the measures are robust in their internal consistency, as the composite reliability score indexes them. The composite reliabilities of the variables exceed the recommended threshold value of 0.70 [48].
Table 1 shows the Cronbach Alpha, Composite reliability, and Average Variance extracted for the variables, denoting a good model fit:
The goodness-of-fit index (GFI) was used to measure the fit between the hypothesized model and the observed covariance matrix, with a GFI = 936. The model shows 120 distinct sample moments, with 40 distinct parameters to be estimated. The Chi-square totals 278.681 with 80 degrees of freedom, with a CMIN/DF of 3.484 and a probability level of 0.000. The difference between observed and expected covariance matrices is shown by the Chi-squared test [49].
The model’s reliability was endorsed using the root mean square error of approximation (RMSEA). The value of 0.066 is acceptable, as the literature considers the maximum to be 0.08. RMSEA of about 0.05 or less shows a close fit of the model concerning the degrees of freedom. The baseline comparisons fit indices suggest that the hypothesized model fits the observed variance-covariance matrix well compared to the null or independence model, as shown in Table 2. The Baseline Comparison indices are above the established limit of 0.7 (Table 2).
Table 3 and Figure 3 show the results of the SEM analysis.

7. Results and Discussion

The statistical analysis presented offers a nuanced understanding of the intricate relationships among various organizational factors within the dynamic landscape of market turbulence and environmental performance. These findings unveil essential insights into how organizations respond to external challenges and opportunities, highlighting the critical role of adaptive strategies, absorptive capacity, and eco-innovation in shaping their environmental outcomes.
The results indicate a significant influence of market turbulence on adaptive environmental strategies (β = 0.34, p < 0.001), supporting the hypothesis (H1), suggesting that in the face of market volatility, organizations must develop adaptive strategies to maintain resilience and competitiveness. This result is supported by the research of [50], who found that environmental turbulence affects organizations’ market orientation and adaptive capabilities, thus enhancing their performance and market position. Similarly, [51] underscores the necessity for organizations to align their strategies with the demands of an increasingly turbulent environment to achieve successful survival and maintain competitive advantage.
However, while adaptive strategies are influenced by market turbulence, they do not directly translate into improved environmental performance. The non-significant coefficients (β = 0.00, p > 0.05) in the relationship between Adp_EnvStr and EnvP lead to the rejection of hypothesis H7. This finding underscores the complexity of the relationship between organizational strategies and environmental outcomes, indicating that other factors, such as eco-innovation, may play a more direct role in driving environmental performance.
In contrast, absorptive capacity emerges as a critical determinant of organizational effectiveness in turbulent environments. The results reveal a significant relationship between absorptive capacity and both market turbulence (β = 0.21, p < 0.001) and adaptive environmental strategies (β = 31, p < 0.001), supporting hypotheses H3 and H6, respectively. This result highlights the importance of organizations’ ability to acquire, assimilate, and apply external knowledge and resources to adapt to changing market conditions and enhance their competitive advantage. Absorptive capacity facilitates organizational learning and innovation, enabling firms to respond effectively to environmental challenges and capitalize on emerging opportunities.
Additionally, absorptive capacity is a relevant mediator between market turbulence and eco-innovation, as there is no direct relationship between them. For market turbulence to impact eco-innovations, the organization’s absorptive capacity is necessary.
Furthermore, eco-innovation is a critical factor influencing environmental performance within turbulent markets. The statistically significant relationships between eco-innovation and both adaptive environmental strategies (β = 29, p < 0.001) and absorptive capacity (β = 0.26, p < 0.001) underscore its pivotal role in driving organizational responsiveness and sustainability. These findings support hypotheses H5 and H9, indicating that organizations prioritizing eco-innovation are better positioned to achieve positive environmental outcomes. Eco-innovation encompasses a range of activities, including the development of environmentally friendly products, processes, and technologies, as well as the adoption of sustainable business practices. By integrating eco-innovation into their strategic initiatives, organizations can reduce their environmental footprint and create new sources of value and competitive advantage.
Another significant finding is the mediating role of adaptive strategy between market turbulence and eco-innovation. There is no direct impact of market turbulence on eco-innovation as H4 is rejected. Adaptive environmental strategies enable eco-innovation to respond effectively to market turbulence.
The fact that H5 was confirmed implies that eco-innovation is significantly influenced by adaptive environmental strategies. Studies have demonstrated that organizations with solid eco-innovation capabilities can better adapt to environmental changes and improve their overall environmental performance [52]. Additionally, firms integrating eco-innovation into their strategic initiatives are better positioned to achieve positive environmental outcomes by developing environmentally friendly products, processes, and technologies, a fact that is confirmed in this study as H8 was not rejected [53].
Finally, Despite the hypotheses H2 and H10 being rejected, their implications provide valuable insights. The rejection of H2 indicates that market turbulences alone do not directly impact improved environmental performance. This suggests that additional factors, such as adaptive strategies and eco-innovation, are essential in leveraging market turbulences for environmental gains. Organizations should focus on developing robust adaptive environmental strategies to convert market challenges into opportunities for environmental improvement.
The rejection of H10 implies that while absorptive capacity is crucial for innovation, it does not directly translate into better environmental performance. This highlights the need for organizations to channel their absorptive capacity towards specific eco-innovative practices that can drive environmental performance. The focus should be on creating a synergy between absorptive capacity and eco-innovation to achieve substantial environmental benefits.
In conclusion, this study confirms that eco-innovation, significantly influenced by adaptive environmental strategies, is vital in improving environmental performance. Organizations with strong eco-innovation capabilities are better equipped to adapt to environmental changes, develop sustainable products and processes, and achieve positive environmental outcomes.

8. Conclusions

The study offers a nuanced understanding of the intricate relationships among various organizational factors within the dynamic landscape of market turbulence and environmental performance. The findings emphasize the critical role of adaptive strategies, absorptive capacity, and eco-innovation in shaping environmental outcomes.
Market turbulence significantly influences adaptive environmental strategies, suggesting that organizations must develop these strategies to maintain resilience and competitiveness in volatile markets. However, market turbulence alone does not directly impact environmental performance, indicating that additional factors are necessary to leverage market turbulence for environmental gains.
Absorptive capacity emerges as a crucial determinant of organizational effectiveness in turbulent environments. The study shows that absorptive capacity is significantly influenced by both market turbulence and adaptive environmental strategies. This highlights the importance of acquiring, assimilating, and applying external knowledge and resources to adapt to changing conditions. However, absorptive capacity does not directly impact environmental performance, suggesting that a synergy with eco-innovation is necessary to drive substantial environmental benefits.
Eco-innovation stands out as a pivotal factor influencing environmental performance. It shows significant relationships with adaptive environmental strategies and absorptive capacity, underscoring its role in driving organizational responsiveness and sustainability. Eco-innovation encompasses developing environmentally friendly products, processes, and technologies and adopting sustainable business practices. Organizations prioritizing eco-innovation in their strategic decision-making processes are better positioned to achieve positive environmental outcomes.
The study emphasizes the importance of adopting a holistic approach to environmental management. Integrating adaptive strategies, absorptive capacity, and eco-innovation enhances organizational adaptation, learning, and innovation, ultimately driving sustainability and competitive advantage. Organizations should prioritize eco-innovation as it can reduce environmental footprints and create new sources of value.
However, the findings should be contextualized within specific organizational settings, as factors such as organizational culture, resource availability, and regulatory frameworks can significantly influence the implementation and effectiveness of environmental strategies. This study highlights the necessity of creating a synergy between absorptive capacity and eco-innovation. While absorptive capacity is crucial for innovation, it must be directed towards specific eco-innovative practices to achieve substantial environmental benefits.
The practical implications of this study are profound. The findings provide a framework for promoting eco-innovative behavior in organizations, integrating strategy and absorptive capacities to develop eco-innovations and enhance environmental performance. Under the new sustainable development paradigm, organizations must embrace innovation as a fundamental pillar, integrating competencies and processes to address the challenges of the Circular Economy.
Developing organizational models that facilitate and support eco-innovative practices is crucial, particularly in Colombia. These models should align with modern principles of corporate sustainability and promote the creation of sustainable value. Effective implementation of these organizational models can catalyze innovative solutions that contribute to environmental stewardship and economic growth.
In conclusion, this study confirms that eco-innovation, significantly influenced by adaptive environmental strategies, is vital for improving environmental performance. Organizations with strong eco-innovation capabilities are better equipped to adapt to environmental changes, develop sustainable products and processes, and achieve positive environmental outcomes.
The role of a turbulent environment on environmental performance is multifaceted and complex. Market turbulence, characterized by rapid changes in customer preferences, competitive pressures, and technological advancements, significantly influences an organization’s adaptive strategies. These adaptive strategies are crucial for maintaining resilience and competitiveness, enabling organizations to respond quickly to external disruptions. However, the direct impact of market turbulence on environmental performance is not straightforward. While adaptive strategies are shaped by market turbulence, they do not necessarily translate into improved environmental performance. This indicates that other factors, such as eco-innovation and absorptive capacity, directly drive environmental outcomes. Eco-innovation, in particular, is essential for leveraging the adaptive capabilities fostered by market turbulence to achieve substantial environmental benefits. Thus, in turbulent environments, the interplay between adaptive strategies, absorptive capacity, and eco-innovation is critical for enhancing environmental performance, underscoring the need for a holistic and integrated approach to environmental management.
This study underscores the importance of a holistic approach to environmental management, integrating adaptive strategies, absorptive capacity, and eco-innovation to drive sustainability and competitiveness.

9. Practical Implication

The study presents a clarifying approach to the role of effective organizational management, through its strategy and absorptive capacities, in developing eco-innovations and generating a specific framework for enhancing environmental performance. This serves as a reference framework to promote eco-innovative behavior in organizations seeking to progress within the parameters of the Circular Economy, aiming to enhance their value proposition. Under the new sustainable development paradigm, organizational strategies must embrace innovation as a fundamental pillar. Integrating competencies and processes becomes imperative to address the challenges of the Circular Economy. The literature supports this notion, emphasizing the importance of this dynamic approach.
To foster eco-innovations in Colombia, developing organizational models that facilitate and support eco-innovative practices is crucial. These models should consider the organization’s internal dynamics and address key aspects such as strategy, capabilities, and competencies. Furthermore, these components need to align with modern principles of corporate sustainability, promoting the creation of sustainable value in the country. The effective implementation of these organizational models can catalyze the development of innovative solutions that contribute to environmental stewardship and economic growth in Colombia. Similarly, the interpretation of eco-innovation should not be viewed as a finalistic outcome; rather, it should be understood as a process aimed at integrating into a complex system of relationships.

10. Limitations

This study provides valuable insights into the relationship between market turbulence, adaptive strategies, absorptive capacity, and eco-innovation. However, several limitations must be considered when interpreting these findings. First, the applicability of the results may vary significantly across different organizational contexts and industries. Contextual factors such as organizational culture, resource availability, and regulatory frameworks can substantially influence the implementation and effectiveness of environmental strategies. In the specific case of Colombia, it could be argued that a lack of innovative thinking or resources might limit the application of these findings.
Additionally, although the study suggests that absorptive capacity and adaptive strategies are beneficial for organizations in turbulent markets, the effectiveness of these strategies heavily depends on the success of eco-innovation initiatives. An organization’s ability to integrate eco-innovation into its adaptive strategies is crucial for improving environmental performance. However, the variability in different organizations’ ability to achieve this integration can represent a significant limitation.

Author Contributions

Conceptualization, J.M.B.; methodology, J.M.B., R.S. and T.T.; software, T.T.; validation, R.S.; formal analysis, J.M.B.; data curation, K.Q.; writing—review & editing, R.S. and T.T.; supervision, K.Q. All authors have read and agreed to the published version of the manuscript.

Funding

This research received no external funding.

Institutional Review Board Statement

Approval of the research given by the ethics committee according to minutes 006 from 25 of April 2022.

Informed Consent Statement

Informed consent was obtained from all subjects involved in the study.

Data Availability Statement

The original contributions presented in the study are included in the article, further inquiries can be directed to the corresponding author.

Conflicts of Interest

The authors declare that there are no conflicts of interest.

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Figure 1. Model with hypotheses.
Figure 1. Model with hypotheses.
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Figure 2. Role of the respondent in the organization.
Figure 2. Role of the respondent in the organization.
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Figure 3. Structural model.
Figure 3. Structural model.
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Table 1. Reliability measures.
Table 1. Reliability measures.
Factor LoadingCronbachs AlphaComposite Reliability—CRAverage Variance Extracted—AVE
Adaptive Environmental Strategy—AdpEnvStr0.8600.8490.8500.655
0.840
0.720
Market Turbulence—MarkTurb0.9400.8540.8630.680
0.790
0.730
EcoInnovation—Ecoinn0.8300.8120.8150.597
0.800
0.680
Absorptive Capacity—AbCap0.8200.8190.8540.662
0.790
0.830
Environmental Performance—EnP08200.8270.8320.625
0.860
0.680
Table 2. Baseline Comparisons.
Table 2. Baseline Comparisons.
ModelNFI
Delta1		RFI Rho1IFI Delta2TLI Rho2CFICMIN/DFRMSEA
Default model0.9330.9120.9510.9360.9513.4840.066
Table 3. Results of the Hypothesis testing.
Table 3. Results of the Hypothesis testing.
EstimateS.E.p
Adp_EnvStr←MarkTurb0.3360.046***H1-Not Rejected
EnvP←MarkTurb0.0270.0420.517H2-Rejected
AbCap←MarkTurb0.1940.045***H3-Not Rejected
EcoInn←MarkTurb0.0720.0470.128H4-Rejected
EcoInn←Adp_EnvStr0.2820.052***H5-Not rejected
AbCap←Adp_EnvStr0.2990.048***H6-Not Rejected
EnvP←Adp_EnvStr0.0020.0480.964H7-Rejected
EnvP←EcoInn0.1990.050***H8-Not Rejected
EcoInn←AbCap0.2730.054***H9-Not Rejected
EnvP←AbCap0.0870.0500.078H10-Rejected
Note: *** indicates a p-value less than 0.001 (p < 0.001).
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MDPI and ACS Style

Bucheli, J.M.; Santa, R.; Tegethoff, T.; Quintero, K. The Mediating Role of Eco-Innovation between Adaptive Environmental Strategy, Absorptive Capacity, and Environmental Performance. Sustainability 2024, 16, 6504. https://doi.org/10.3390/su16156504

AMA Style

Bucheli JM, Santa R, Tegethoff T, Quintero K. The Mediating Role of Eco-Innovation between Adaptive Environmental Strategy, Absorptive Capacity, and Environmental Performance. Sustainability. 2024; 16(15):6504. https://doi.org/10.3390/su16156504

Chicago/Turabian Style

Bucheli, Juan Manuel, Ricardo Santa, Thomas Tegethoff, and Katherine Quintero. 2024. "The Mediating Role of Eco-Innovation between Adaptive Environmental Strategy, Absorptive Capacity, and Environmental Performance" Sustainability 16, no. 15: 6504. https://doi.org/10.3390/su16156504

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