Historically, management theory has ignored the constraints imposed by the biophysical (natural) environment. Building upon resource-based theory, this article attempts to fill this void by proposing a natural-resource-based view of the firm—a theory of competitive advantage based upon the firm's relationship to the natural environment. It is composed of three interconnected strategies: pollution prevention, product stewardship, and sustainable development. Propositions are advanced for each of these strategies regarding key resource requirements and their contributions to sustained competitive advantage.

A natural resource-based view of the firm

Most executives know that how they respond to the challenge of sustainability will profoundly affect the competitiveness—and perhaps even the survival—of their organizations. Yet most are flailing around, launching a hodgepodge o f initiatives without any over arching vision or plan. That’s not because they don’t s e e sustainability as a s t ra tegic issue. Rather, it’s because t h e y think t h e y ’ r e facing an unprecedented journey fo r which there is no road map. But there is a road map. Our research into the forces that have shaped the competitive landscape in recent decades reveals that ―business megatrends‖ have features and trajectories in common. Sustainability is an emerging megatrend, and thus its course is to some extent predictable. Understanding how firms won in prior megatrends can help executives craft the strategies and systems they’ll need to gain advantage in this one. The concept of megatrends is not new, of course. Businessman and author John Naisbitt popularized the term in his 1982 best seller of the same name, referring to incipient societal and economic shifts such as globalization, the rise of the information society, and the move from hierarchical organizations to networks. Our focus is on business megatrends, which force fundamental and persistent shifts in how companies compete. Such transformations arise from technological innovation or from new ways of doing business, and many factors can launch or magnify the process of change. Business megatrends may emerge from or be accelerated by financial crises, shifts in the social realities that define the marketplace, or the threat of conflict over resources. The geopolitics of the Cold War, for example, drove the innovations that launched both the space race and rapid developments in the field of microelectronics—ultimately unleashing the information technology megatrend. Electrification, the rise of mass production, and globalization were also megatrends, as was the quality movement of the 1970s and 1980s. The common thread among them is that they presented inescapable strategic imperatives for corporate leaders.

The Sustainability Imperative

Attaining circular economy through business sustainability approach: An integrative review and research agenda

Product management activities by operations, marketing, and finance functions have typically focused on the innovation, acquisition, growth, and management of product lines and products The same i

A paler shade of green: implications of green product deletion on supply chains

This study aims to establish the link between business ethics and brand loyalty and to investigate the mediating role of corporate social responsibility (CSR) and United Nations Sustainable Development Goals (SDGs) such as green marketing.,Using the purposive sampling technique, data were obtained from 622 middle-income city dwellers who shop at leading retail malls. Data were analyzed with partial least square–structural equation model.,The study found a positive and significant relationship between business ethics, CSR, green marketing and business loyalty. Both CSR and green marketing mediate between perceived firm ethicality and brand loyalty.,This research was done based on general knowledge of business ethics, CSR and green marketing from the consumers’ perspective. Future studies can avoid this limitation.,By ensuring ethical codes, CSR and green marketing, firms can contribute to promoting the SDGs, and at the same time, achieving customer loyalty. Brand loyalty is further enhanced if customers see a firm to be practicing CSR.,The SDGs of sustainable production patterns, climate change and its impacts, and sustainably using water resources must become the focus of companies as they ultimately yield loyalty. Policymakers and society can design a policy to facilitate adoption of better ethical behavior and green marketing by firms as a way of promoting SDGs.,To the best of the authors’ knowledge, this study is the first to test the mediation effect of green marketing and CSR on how ethical behavior leads to brand loyalty. It is also one of the few papers to examine how SDGs can be promoted by businesses as stakeholders.

Perceived firm ethicality and brand loyalty: the mediating role of corporate social responsibility and perceived green marketing

Purpose




The purpose of this paper is to develop a typology of sustainable business strategies that may help to guide future empirical research.




Design/methodology/approach




The approach involves a review of prior typologies and an application of the resource-based view of the firm to identify the resources and capabilities associated with each strategy.




Findings




Research propositions concerning the relationship between implementation of each strategy and requisite capabilities are offered.




Research limitations/implications




The research propositions developed in the paper offer a means to catalyze future empirical research at the intersection of strategy and sustainability.




Originality/value




Barriers to understanding the capabilities necessary to implement sustainability strategies render sustainable development an elusive goal. This paper helps to advance this understanding, identifying the primary capabilities needed to implement distinct sustainability strategies.

Jeffrey Gauthier

Papers

Sustainable business strategies: typologies and future directions