Financial Sustainability of Innovative Technology in Retailing

Financial Sustainability of Innovative Technology in Retailing

Sanda Renko (University of Zagreb, Croatia) and Ivan Kovac (University of Zagreb, Croatia)
DOI: 10.4018/978-1-4666-8297-9.ch013


The main purpose of this chapter is to address two important areas for successfully managing retail businesses—financial sustainability and innovative technology—in order to find out in which ways they affect each other. In order to clarify the financial sustainability of innovative technologies and the ways innovative technologies contribute in achieving financial sustainability in a retail company as a whole, it has been explored in grocery retailing in the Republic of Croatia. The results of a study among the top retail companies operating in the Croatian market suggest that innovative technology has the highest priority in their strategic and financial planning as one of the four fundamental pillars of financial sustainability. However, the results also indicated a long payback period after the implementation of new technological solutions.
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Theoretical Background

To understand the connection between financial sustainability and innovative technology for retailers, it is first important to define the terminology that will be used. As there is no literature with an extant definition for financial sustainability, this chapter will draw upon broad literature within sustainability, sustainable development, financial management, etc.

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