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This chapter examines the potential of solar energy for the development of sustainable tourism in Croatia. Tourism is an important economic activity in the Croatian economy due to the mild climate and many sunny days. Solar energy photovoltaic and thermal systems can help to support sustainable tourism, as well as increase employment and cooperation between local and national governments. This study compares best practices in solar energy for the Mediterranean countries of Italy, Spain, Cyprus, and Greece. The Mediterranean Basin is a strategic development area for the European Union, and solar energy will help to maintain its stability and high-quality standards of living.

Climate change has been identified as a pressing social, environmental and economical challenge that has been unequivocally linked to human activity through latest Intergovernmental Panel on Climate Change (IPCC) reports. It is here to stay with us for generations to come and is already causing severe tribulations across the world. As nations devise policies to mitigate to climate change to stay within the 1.5 degrees Celsius target and small island developing states (SIDS) like Mauritius and the developing world in general find means to adapt to its consequences, a core shortcoming highlighted is the lack of community engagement and grassroots action so that policies permeate to concrete action. Of prime importance for this to happen is raising awareness on the climate change phenomenon, which has so far been a topic deemed complex for the general public, hence creating systemic barriers for climate action. The use of artificial intelligence (AI) can play a significant role in designing such community outreach programmes based on outcomes reported in literature in the educational sector in support of Sustainable Development Goal (SDG) 4: Quality Education. There is growing interest for a green lifestyle in the world population, and this chapter shows how the home can be used as a basic building block for allowing each household to contribute to climate action, while offering an effective case study to raise awareness on climate change through practical examples and demonstration, in support for SDG 11: Sustainable Cities and Communities. Based on an energy-water-materials nexus, the circular home concept is a clear contribution to SDG 13: Climate Action, with huge potential to use AI techniques and underpinning technologies to implement and optimise the efficacy of the proposed measures.

This chapter concludes the book by addressing the complexities and challenges associated with smart cities. Despite the widespread enthusiasm and progressive policies surrounding smart cities, navigating this world remains a desirable yet complex challenge. Drawing on existing literature, this final chapter serves as a synthesis of the key points covered throughout the book and offers practical guidelines for navigating the landscape of smart cities. This chapter provides valuable tips and insights for both citizens and policymakers, recognizing their pivotal roles in shaping the future of smart cities. Additionally, it delves into the current challenges faced by smart city initiatives and discusses potential future directions. Emphasizing the need for ongoing adaptation and innovation, this chapter highlights the importance of overcoming obstacles and capitalizing on opportunities in the rapidly evolving digital age. By offering a comprehensive overview and practical recommendations, this chapter aims to equip readers with the knowledge and tools to navigate the complexities of smart cities effectively. It concludes the book on a forward-looking note, emphasizing the dynamic nature of smart city development and the continuous need for adaptation and innovation.

The European Union’s Digital Markets Act (DMA) calls for far-reaching changes to the way economic activity will occur in EU digital markets. Before its remedies are imposed, it is critical to assess their impacts on individual markets, the digital sector, and the overall European economy. The European Commission (EC) released an Impact Assessment in support of the DMA that purports to evaluate it using cost/benefit analysis.

An economic evaluation of the DMA should consider its full impacts on dynamic competition. The Impact Assessment neither assesses the DMA's impact on dynamic competition in the digital economy nor evaluates the impacts of specific DMA prohibitions and obligations. Instead, it considers benefits in general and largely ignores costs. We study its benefit assessments and find they are based on highly inappropriate methodologies and assumptions. A cost/benefit study using inappropriate methodologies and largely ignoring costs cannot provide a sound policy assessment.

Instead of promoting dynamic competition between platforms, the DMA will likely reinforce existing market structures, ossify market boundaries, and stunt European innovation. The DMA is likely to chill R&D by encouraging free riding on the investments of others, which discourages making those investments. Avoiding harm to innovation is critical because innovation delivers large, positive spillover benefits, driving increases in productivity, employment, wages, and prosperity.

The DMA prioritizes static over dynamic competition, with the potential to harm the European economy. Given this, the Impact Assessment does not demonstrate that the DMA will be beneficial overall, and its implementation must be carefully tailored to alleviate or lessen its potential to harm Europe’s economic performance.

Purpose: The availability of resilient energy infrastructure and services is crucial to achieving sustainable development goals. However, defined and trustworthy definitions of resilience exist solely for engineering and energy systems, particularly in the industrialised world or metropolitan systems. However, no universally accepted definition considers the distinctive characteristics of rural regions in developing economies. To define resilience for rural power systems in developing countries, this chapter synthesises many perspectives on resilience, energy systems, and rural environments.

Methodology: It draws on extensive literature assessments on resilience, particularly concerning energy systems and rural areas, as well as other pre-existing frameworks.

Findings: To account for the unique challenges of electricity supply in rural developing nations, a comprehensive ‘Rural Power System Resilience Framework’ is introduced, including technical, economic, and social resilience.

Social implications: To better understand the elements contributing to the stability of electricity grids in developing nations and rural areas, this resilience framework may be utilised by global markets, system owners and operators, government officials, non-governmental organisations, and communities.

Originality: Through establishing this framework, this study sets the path for developing suitable and ‘effective resilience standards’ tailored for implementation in these rural areas, with the ultimate goal of facilitating the fulfilment of achieving domestic and worldwide sustainability objectives.

The hotel sector in South Africa is also aware of the detrimental impact of its activities on the environment. As a result, it has taken steps to mitigate such effects, evidenced by implementing green hotel practices. ‘Green hotels’ refers to lodging establishments that try to consume less energy, water and materials while still offering high-quality services. Unfortunately, although the hotel sector contributes significantly to employment and economic growth globally, its activities harm the environment through pollution, overuse of natural resources and solid and liquid waste.

This chapter discusses the concepts of green hotels and green practices. This chapter also highlights the need for green practices and identifies a case study on green hotels and practices in a South African context. This chapter found that the green hotel sector implements green practices, such as water-saving practices due to the risk of water insecurity, the growing demand for sustainability and the necessity to boost revenues. Green hotels and practices are a step to actualise the objectives of Sustainable Development Goals (SDGs) 12 and 13, which focus on clean water and sanitation and climate change, respectively. The study underscores the importance of green practices and how South Africa responds to the challenge. It is believed that hotels contribute significantly to environmental degradation, but they can also help to preserve the environment through their activities through green practices. Strategies like adopting green practices would be a remedy to mitigate pollution and its effects on environmental sustainability.

The fifth industrial revolution, known as Industry 5.0, envisions an industry that is innovative, resilient, socio-centric, and competitive while minimizing negative environmental and social impacts, respecting people, the planet, and prosperity. Industry 5.0 is replacing earlier advancements and it is successful because it reaches the pinnacle of perfection. Additionally, machine work saves human workers time and effort. It is built on the concept of fusing digitalization elements from the fourth industrial revolution with Sustainable Development Goals through human-centric solutions, bio-inspired technologies, and secure data transfer. Industry 5.0 mentions about the various opportunities, constraints, and potential directions for future research. Industry 5.0 places less emphasis on technology and focus on human collaboration for progress, it supposed to have a shift in existing paradigm. Industry 5.0 is necessary in contemporary business with the paid technology advancements in order to get competitive advantages as well as economic growth for the manufacturing and it has three drivers: “green transition”, “digital transition”, and “competitive transition”. The goal of green transition is to prevent climate change and environmental degradation. This necessitates changes to current economic growth strategies. The goal of digital transition is to support the circular economy by modernizing digital strategies in terms of digital skills, data, technologies, and infrastructure. Competitive transition aims to convert marketing policies, regulations, standards to increase people's prosperity and business value. It focuses on business and marketing rules that are fair, competitive, innovative, and adaptable.

Global value chains (GVCs) have been challenged by several emerging macro-trends during the last years. Among them, sustainability of production and consumption patterns is becoming a central theme given the necessity to mitigate the degradation of the environment and the over-exploitation of scarce natural resources. In this respect, scholars and practitioners increasingly propose the circular economy (CE) approach as a systemic solution to overcome the conventional linear “take–make–use–dispose” model underlying the structure of contemporary global economy. However, the international business (IB) community has introduced the topic of CE only marginally in its debate. The aim of the present study is to fill this research gap identifying the opportunities for integrating IB and CE principles. Thus, the main objective is to investigate whether and how the adoption of the CE paradigm by multinational enterprises (MNEs) may affect activities, geographical configuration, and governance of their relevant GVCs.

The authors address the issue from a conceptual point of view, identifying direct and indirect impacts of CE adoption on GVC, relative enablers, and possible broader implications. Lastly, the authors propose some reflections for future investigations.

This book chapter focuses on firstly social innovation and tools used to address the social needs and foster social innovation initiatives. Looking at the world economic forum and how it supports the social innovations, currency swings, low paying jobs growing rapidly, rapid change and growth as a result of high volatility and high returns, respectively. Secondly looking at the emerging market brought about by the social innovations and how they interconnect. Leading innovation emerging market has three main industries semiconductors, fin-tech, and electric cars. It also looks at the significance of technology in the development of business emerging markets, the role of technology in the emerging market and activities over the decades. Small firms in emerging areas face three major challenges which technology might help overcome. The challenges are trust, sustainability, and network. The role of technology replacing analog chip used for power supply, sensors, wideband signal make up the large semiconductors in the United States replaced with digital chip such as logical operations, data storage, computer information management all this have given birth to artificial intelligence, autonomous machines, self-driving cars, supply-chain management, cloud computing, and software-as-a-service (SaaS) applications are all made possible by digital chips. These are also used for e-commerce, mobile payment, fine-tech, 5G telecom, health-care advancement, remote learning, online entertainment, and cloud computing. Technical advancements that has sparked a revolution that would be especially advantageous for emerging market and small-cap enterprises are the causes of these benefits of how it has affected countries such as Europe, the United States, China, and India to mention a few.