The determinants of strategic innovation-driven competitiveness of mining companies

Abstract

The paper is intended to examine the main determinants of the strategic innovation-driven competitiveness of a company that operates in the mining sector. Based on the literature review and industry analysis reports, it is shown that mining companies need to develop specific capabilities in order to devise and implement appropriate innovation-driven strategies and achieve sustainable competitive advantage. As a result of the study, using a system approach a descriptive overview of the main factors affecting the strategic innovation-driven competitiveness according to the specific features of the mining industry is presented. From a practical perspective, the paper provides an analytical framework for the identification of the core organizational capabilities and managerial aspects on which attention should be especially focused in order to gain and hold a strategic competitive advantage and enhance the organizational performance of mining enterprises in the modern business environment.

Managing Coal Enterprise Competitiveness in the Context of Global Challenges

“…This includes all the resources such as the human capital, knowledge, innovative process, material inputs, firm structure and infrastructure, technological infrastructure, goodwill and market resources, patents and trademarks, all of which together enable the enterprise to achieve competitive advantage over the competing firms and thus act as a source of competition for the enterprise." This response can be supported by the findings of Lazarenko et al [58], asserting that the internal resources possessed by the firm are important for enabling the firm to increase its productivity and attractiveness in the market. Thus, instead of mere cost reductions and price decisions, the competitiveness of the coal mining companies is more dependent on their overall operational improvements.…”

“…However, given the advancements in the economic and technological environments in the present times, focusing merely on the cost is not enough. Rather, major factors that influence the value creation and competitiveness of mining enterprises are considered to be focused on activities providing proper management and improvement of operating results, such as technological advancements, innovation, and resources efficiency [58]. Therefore, the development of activities that improve the operational performance of the enterprise is found to be a prerequisite for achieving and maintaining competitiveness in the mining industry.…”

Tacit Knowledge Sharing as a Catalyst for Innovation Capability in Small and Medium Enterprises (SMEs) in the Malaysian Furniture Industry

“…In addition, Rogers, (2003); and Zaltman et al, (1973), defined innovation capability as an essential prerequisite for improved organizational performance, longevity, and competitive superiority. This capability embodies the knowledge and skills needed for new product development and the enhancement of existing products, offers a sustainable competitive advantage, and facilitates strategic implementation (Lawson & Samson, 2001;Lazarenko et al, 2021;Tahat, 2021). Notably, this capability is tacit and embedded in experiential learning within the organization, underpinning the adage "innovation is power" (Kamasak & Bulutlar, 2010).…”

The role of audit committee expertise and sustainability performance in the Indonesian mining industry

“…Therefore, this research aims to examine the contribution of the audit committee expertise to the sustainability performance and focus on mining industries because mining companies face significant sustainable development challenges as extractive industries, particularly concerning environmental and social issues. Hence, mining businesses must be sincerely dedicated to fulfilling their sustainability obligations [8].…”