Author(s): Obiananma Krystal Okafor
The aim of this study explores business models and economic sustainability of paint manufacturing firms in Enugu State, Nigeria. This study adopted the survey research design in which four (4) paint manufacturing firms in Enugu, Nigeria were studied. Copies of questionnaire were distributed to these firms for relevant data collection. The population of the study was 934 and the sample size was calculated to be 273 using the trek formula. Linear regression was used in the hypotheses testing. This was done with the aid of Statistical Package for Social Sciences (SPSS) software ver.22. The study revealed that green product innovation has a positive significant effect on the market share of manufacturing firms. The statistical results is given as; (Green product innovation β =.230; t=4.272; p>000.05). The study revealed that social sustainability has a positive effect on the reputation of manufacturing firms. The statistical results is given as; (Green managerial innovation β =.230; t=2.459; p=.015<05). The work concludes that eco-design and eco-innovation activities frame the business model of sustainability as drivers of value creation at the three levels of sustainable development: for the economy, the people who work in and interact with (social) and the world in which everyone works and develops (social and environmental). Based on the findings, the study recommended that manufacturing firms should make more efforts to understand customer needs and expectations in order to better anticipate their changing preferences and align green product innovation initiatives with consumer values to promptly satisfy market demand, thus gain competitive advantage.