The principle of biodiversity as an innovative approach to management in the cosmetics industry

Abstract

Purpose. The purpose of the study is to substantiate the feasibility of introducing the principle of biodiversity as an innovative approach to managing the cosmetic industry, which addresses environmental, social, and economic challenges. Special attention is given to analysing the use of natural resources, the implementation of sustainable innovations, and the strengthening of the role of corporate social responsibility.

Results. The study comprehensively explores the integration of the principle of biodiversity as an innovative approach to managing the cosmetics industry, complementing the analysis with ecological, social, and economic aspects. It was found that the principle of biodiversity contributes to the implementation of sustainable solutions that ensure the competitiveness and sustainable development of cosmetic companies. Particular attention is paid to innovative biotechnologies, including the use of biodegradable polymers and bio-derived ingredients, which help reduce the environmental impact of production. A SWOT analysis highlighted the strengths of this approach, including brand strengthening and consumer loyalty, as well as opportunities related to the development of partnerships and the implementation of new biotechnologies. At the same time, weaknesses include the high cost of innovations and limited regulatory frameworks, while threats involve challenges in establishing sustainable supplies of natural resources. The analysis of the practices of leading companies, such as BASF SE, Yves Rocher, and Evonik Industries AG, shows that they actively implement biodiversity principle by developing ingredients from renewable sources and environmentally friendly materials and funding projects, demonstrating the approach's viability. The results emphasise the need for further development in this area through expanding the regulatory framework, reducing barriers to adopting green technologies, and raising consumer awareness of the importance of biodiversity.

Scientific novelty. The novelty lies in a systematic evaluating the principle of biodiversity as an innovative method in managing the cosmetics industry, which ensures the resolution of environmental, social, and economic challenges. For the first time, a SWOT analysis of the application of the biodiversity principle in the cosmetics industry has been conducted, allowing not only the identification of strengths, weaknesses, opportunities, and threats but also the provision of a quantitative assessment of these factors through expert assessment.

Practical value. The results can be applied to the development of corporate social responsibility strategies, resource optimisation, and enhancement of environmental efficiency. The information is useful for policymakers in the field of sustainable development, enabling the implementation of initiatives to support biodiversity in the cosmetics sector.