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The corporate executive leadership team and its diversity: impact on innovativeness and sustainability of the bioeconomy

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  • Marko Hakovirta

    (North Carolina State University)

  • Navodya Denuwara

    (North Carolina State University)

  • Peter Topping

    (Emory University)

  • Jorma Eloranta

    (Stora Enso Oyj)

Abstract

Senior executives have a major role in leading corporations both strategically and operationally. In large corporations, the executive team is leading through their respective organizations, ensuring that corporate strategy is executed efficiently and effectively. In addition, executive management plays the key role in shaping the culture and the values of the corporation. There exists a wealth of research conducted on executive management team dynamics and the success factors related to their performance. This study examines how diversity in executive management impacts the perceived innovativeness of companies. We compare the most innovative companies and the largest players in the bioeconomy. Currently, the bioeconomy has received a lot of attention as it is considered one of the industries associated with solving global societal and environmental challenges. However, it is not perceived as highly innovative and is considered to be lacking in diversity among senior executive teams. This study adds to the body of knowledge connecting innovation, diversity, and corporate leadership and highlights similarities and differences from diversity perspective related to the companies investigated.

Suggested Citation

  • Marko Hakovirta & Navodya Denuwara & Peter Topping & Jorma Eloranta, 2023. "The corporate executive leadership team and its diversity: impact on innovativeness and sustainability of the bioeconomy," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-10, December.
    • Handle: RePEc:pal:palcom:v:10:y:2023:i:1:d:10.1057_s41599-023-01635-9
    DOI: 10.1057/s41599-023-01635-9
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