Book contents
- Environmental Strategy for Businesses
- Organizations and the Natural Environment
- Environmental Strategy for Businesses
- Copyright page
- Contents
- Tables
- Preface
- 1 Introduction
- 2 Foundations and Background
- 3 Environmental Strategy Choices and Challenges
- 4 Nonmarket Strategy
- 5 Environmental Strategy and Strategic Resources
- 6 Green Products and Services
- 7 Employee Engagement
- 8 Environmental Groups
- 9 Conclusion
- References
- Index
3 - Environmental Strategy Choices and Challenges
Published online by Cambridge University Press: 23 February 2023
- Environmental Strategy for Businesses
- Organizations and the Natural Environment
- Environmental Strategy for Businesses
- Copyright page
- Contents
- Tables
- Preface
- 1 Introduction
- 2 Foundations and Background
- 3 Environmental Strategy Choices and Challenges
- 4 Nonmarket Strategy
- 5 Environmental Strategy and Strategic Resources
- 6 Green Products and Services
- 7 Employee Engagement
- 8 Environmental Groups
- 9 Conclusion
- References
- Index
Summary
An environmental strategy is an integrated set of choices about how a company should interact with the environment and its environmental stakeholders. A first step is identifying how a company impacts the environment and the stakeholder demand for improving those impacts. Stakeholders demand depends on the co-benefits they receive from environmental improvements and the resources they are able to deploy in pursuit of those improvements. A second step is identifying the market and nonmarket channels through which stakeholders can transfer value to the company in return for producing an environmental improvement. A third step is ensuring credibility – how can its stakeholders ensure that the environmental improvements are genuine and that each side will follow through on its promises in the exchange? A final step is to identify how the environmental strategy fits with the company’s competitive strategy. An environmental strategy can enhance a company’s market and nonmarket strategies in ways that are difficult for competitors to mimic, thus creating new sources of sustainable competitive advantage.
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- Information
- Environmental Strategy for Businesses , pp. 31 - 51Publisher: Cambridge University PressPrint publication year: 2023