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Corporate Governance as an Area of Innovation: Challenges and Prospects in Environmental Policy
Mykhailo Shkilniak*
Department of Management, Public Administration and Personnel, West Ukrainian National University, Ternopil, Ukraine
Email: shkMykha@ukr.net| ORCID: https://orcid.org/0000-0001-5230-6317
Grygorii Monastyrskyi
Department of Management, Public Administration and Personnel, West Ukrainian National University, Ternopil, Ukraine
Email: g.monastyrskyi@meta.ua| ORCID: https://orcid.org/0000-0001-6694-1960
Nataliia Kryvokulska
Department of Management, Public Administration and Personnel, West Ukrainian National University, Ternopil, Ukraine
Email: kryvokulska_n@outlook.com| ORCID: https://orcid.org/0000-0001-6425-8762
Nataliya Kotys
Department of Management, Public Administration and Personnel, West Ukrainian National University, Ternopil, Ukraine
Email: nataliyakotys@meta.ua| ORCID: https://orcid.org/0000-0003-3499-0746
Inna Chykalo
Department of Management, Public Administration and Personnel, West Ukrainian National University, Ternopil, Ukraine
Email: innachykalo@hotmail.com| ORCID: https://orcid.org/0000-0003-4824-8999
*Corresponding author
(2024) 04 (03) Journal of Environmental Law and Policy 157-188 https://doi.org/10.33002/jelp040306
Received: 17 November 2024
Accepted: 14 December 2024
Reviewed: 02 December 2024
Published: 28 December 2024
Revised: 05 December 2024
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No. of Paper Downloads:
The research relevance is determined by the need to study the role of corporate governance in promoting the innovative development of enterprises to promote environmental protection. The study aims to analyse the relationship between corporate governance and innovation processes, identify factors influencing the success of innovation initiatives within companies, and propose strategies for enhancing innovation management. Utilising synthesis, system analysis, and modelling methods, the study highlights that effective corporate governance for sustainability requires integrating environmental goals into strategic planning, fostering stakeholder collaboration, and implementing advanced risk assessment tools. The findings indicate that companies recognising the strategic significance of innovation and embedding it within their business strategies achieve substantial advantages in attaining strategic success. Businesses that actively innovate should be prepared to manage the risks associated with market volatility, technological change, and failure of innovation projects. Companies that cultivate an environment of open idea exchange, teamwork and collaboration are more likely to innovate and implement solutions efficiently. It is important to integrate the risk assessment and control system into the corporate structure, which ensures the stability and efficiency of the innovation process. The value of the obtained results lies in the identification of key aspects of innovation management and the formation of practical recommendations for integrating these insights into corporate strategy to enhance the effectiveness of corporate governance.
Keywords: Green strategies; Strategic management; Sustainable development; Environmental management; Stakeholder engagement; Public administration
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Mykhailo Shkilniak, Grygorii Monastyrskyi, Nataliia Kryvokulska, Nataliya Kotys, & Inna Chykalo, ‘Corporate Governance as an Area of Innovation: Challenges and Prospects in Environmental Policy’ (2024) 04 (03) Journal of Environmental Law & Policy 157-188, https://doi.org/10.33002/jelp040306
Shkilniak, M., Monastyrskyi, G., Kryvokulska, N., Kotys, N. and Chykalo, I. (2024). Corporate Governance as an Area of Innovation: Challenges and Prospects in Environmental Policy. Journal of Environmental Law and Policy, 04(03): 157-188. DOI: https://doi.org/10.33002/jelp040306
Shkilniak, M., Monastyrskyi, G., Kryvokulska, N., Kotys, N., & Chykalo, I. (2024). Corporate Governance as an Area of Innovation: Challenges and Prospects in Environmental Policy. Journal of Environmental Law and Policy, 04(03), 157-188. https://doi.org/10.33002/jelp040306
Shkilniak M., Monastyrskyi G., Kryvokulska N., Kotys N., Chykalo I. Corporate Governance as an Area of Innovation: Challenges and Prospects in Environmental Policy. Journal of Environmental Law and Policy, 2024, 04 (03), 157-188. https://doi.org/10.33002/jelp040306
Shkilniak, Mykhailo, Monastyrskyi, Grygorii, Kryvokulska, Nataliia, Kotys, Nataliya, Chykalo, Inna. 2024. “Corporate Governance as an Area of Innovation: Challenges and Prospects in Environmental Policy”. Journal of Environmental Law and Policy, 04 no. 03: 157-188. https://doi.org/10.33002/jelp040306
Shkilniak, Mykhailo, Grygorii Monastyrskyi, Nataliia Kryvokulska, Nataliya Kotys and Inna Chykalo. 2024. “Corporate Governance as an Area of Innovation: Challenges and Prospects in Environmental Policy”. Journal of Environmental Law and Policy, 04 (03): 157-188. https://doi.org/10.33002/jelp040306
| Crossref: | https://doi.org/10.33002/jelp040306 |
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