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Over the past decade, concepts that focus on environmental stewardship have gripped the collective intellect of humankind, challenged our capacity to be self‐aware, and established a common global imperative to respond to critical issues that arise from world‐wide climate change and natural resource conservation. Yet, while most enterprises have already undertaken some form of “green” initiative, very few have established an enterprise‐level “green” strategy that responds to the new global imperative. This paper aims to provide a methodology and tool‐set to help close that gap.

The article provides a methodology and tool set needed to assess an enterprise and formulate green strategy. The scope covers: a definition of “green” strategy and the guiding principles for its formulation; best practices and illustrations of how they are being adopted; a methodology for developing an enterprise‐level green strategy that integrates with all the other areas of strategy formulation in an enterprise (business, operating/organization/information/technology applications, and infrastructure).A “green” maturity model and maturity assessment framework are also developed to help business leaders determine what their current state of “green maturity” is, and guide decisions on where they would like their business to be in the future.

The paper finds that business leaders and decision makers increasingly miss‐out on significant benefits because they do not consider “green” opportunities in a strategic context.

The methodology and tool set provided in this article can help business leaders capture new value from green opportunities. It can also accelerate changes to existing methodologies for formulating strategy to include important “green” dimensions. Each area of an enterprise is discussed in the context of how it can be affected and improved by having a green strategy.

This paper aimed to test a proposed framework highlighting strategic green marketing initiatives and how they drive new technology implementation towards green corporate performance, underpinned by institutional isomorphism.

The study used a quantitative method and convenience sampling approach in gathering data using adapted questionnaires to solicit first-hand information from 225 employees of small and medium-sized enterprises (SMEs) in the tourism and hospitality sector underpinned by the theory of institutional isomorphism.

The study shows that green communication and green strategy alignment have significant predictive effects on new technology implementation. Cultural isomorphism significantly moderated the effects of implementing new technology (i.e. green communication and strategy alignment). In addition, “new technology implementation had a significant predictive effect on green corporate performance”. Meanwhile, the moderation effect of “green creative behaviour on the new technology-green corporate performance dyad was positive but insignificant.”

The study’s novel framework confirms how green communication strategy and green strategy alignment complement cultural isomorphism to explain the impact of new technology implementation on green corporate performance, underpinned by institutional isomorphism.

The aim of the paper is to rank and analyze the key strategies to sustainable finance adoption in the manufacturing sector using Fuzzy Delphi method (FDM), Interpretive Structural Modeling (ISM) and MICMAC (impact matrix cross-reference multiplication applied to a classification) analysis.

The study develops a novel framework to identify and analyze the mutual relationships among set of sustainable policies using extensive literature survey and experts opinion. Initially, the study found 14 strategies to implement sustainable finance with the help of vast literature. Then, the list of identified factors were screened through Fuzzy Delphi Method (FDM). Based on driving and dependence power, the final list of factors are divided into three categories.

The study findings reveal that “environmental rules and practices”, “financial incentives, tax reduction and subsidy”, have strongest driving power for promoting sustainable financial system in Pakistani manufacturing sector. Furthermore, “environmental awareness” and “long term vision” are found to be highly influenced by other corresponding elements in a system.

The ISM approach assists professionals, academics, and managers in identifying and ranking policies in implementing green business techniques. The hierarchical representation of ISM results provides a roadmap for decision-makers to navigate and prioritize factors effectively, facilitating the implementation of strategies that contribute to sustainable growth within organizations.

The study results provide interesting clues regarding green finance policies that provide the foundations, incentives, protections or other provisions that support the ecological conservancy’s mission. Specifically, the findings guide that government must offer research grants to private enterprises, research and development institutions, and universities to promote environmental protection and develop transformative technologies such as waste recycling, renewable energy, carbon capture, and power consumption.

The exploration of strategies for sustainable finance adoption with the help of mixed methodological approach and classification of these strategies on the basis of importance level is a new attempt in the field of manufacturing sector.

This study aims to investigate the relationship between banks’ corporate social responsibility (CSR) mechanisms at the governance level and their likelihood of pursuing green product strategies. It also examines how CSR characteristics and green product strategies have evolved across regions and time.

Using a sample of listed banks from different economic areas over the period 2010–2019, the authors examine how CSR mechanisms at the governance level and green product strategies, which they categorize through principal component analysis, have changed over time and across regions. The authors then conducted panel regression to identify which CSR characteristics affect the likelihood that banks implement green product strategies.

Results show that CSR mechanisms related to bank transparency and commitment to the community, such as sustainability reporting and United Nations Global Compact adherence, are substantive in affecting the likelihood of banks pursuing green product strategies. In contrast, mechanisms related to internal organization, such as the presence of a CSR Committee and an environmental management team, tend to play more a symbolic role. Findings also support a reconsideration of environmental, social and governance-related compensation schemes, which appear to decrease the likelihood that banks engage in some forms of green financing. The likelihood of banks pursuing green product strategies varies across regions and has increased after the Paris Agreement.

The findings are useful in guiding regulators, supervisory authorities and policymakers in defining policies that can create conditions for banks to develop green products and, hence, encourage the sustainability behaviors of their clients. Empirical evidence reveals that some corporate governance mechanisms and green product strategies correlate positively, institutional factors matter and public policies can play a role in strengthening such a correlation. However, results are limited to specific geographical areas and listed banks.

This study contributes to the institutional literature by showing that some corporate governance mechanisms are substantive in increasing the likelihood of banks pursuing green product strategies, while others are more symbolic. It also extends the literature by analyzing how banks belonging to different geographical areas have responded, over time, to sustainability objectives.

This study aims to develop a comprehensive conceptual framework to investigate how green brand positioning strategies positively impact consumer response. It focusses on uncovering the causal mechanism in which such effect is mediated by brand stereotypes. Additionally, it outlines the moderating role of construal level in this formation process.

Three experimental studies were conducted to examine the hypotheses. Study 1 tests the positive influence of green brand positioning on consumer response. Study 2 tests the dual mediating effect of warmth and competence in the relationship between green brand positioning and consumer response. Study 3 further examines the moderating role of construal level in the effects of green brand positioning on brand stereotypes.

The findings reveal that green emotional positioning strategies are predominantly stereotyped as warm while green functional positioning strategies are predominantly stereotyped as competent. Both warm and competent mediate the effects of green brand positioning on consumer response. Furthermore, a congruency between green emotional positioning and high-level construal, as well as the match between green functional positioning and low-level construal, leads to more warmth and competence perception.

This study contributes to green brand management literature by proposing a brand stereotype-based mechanism to explain how green brand positioning strategies trigger consumers’ stereotyping process, leading to positive consumer response. This study also identifies the construal level as a moderating variable that impacts consumers’ warmth and competence perceptions towards two kinds of green brand positioning strategies. Managerially, the findings of this study provide managerial ideas for developing green branding strategies.

The purpose of this paper is to explore whether green innovation strategy has a positive effect on green innovation. Furthermore, this study investigates whether both green organizational identity and environmental organizational legitimacy mediate the relationship between green innovation strategy and green innovation.

This study is designed as a quantitative research using questionnaires to collect data and employing a variance-based or partial least squares structural equation modeling to test the hypotheses.

The empirical results show that green innovation strategy positively affects green innovation. This study also demonstrates that green innovation strategy positively affects green innovation indirectly via green organizational identity and environmental organizational legitimacy in manufacturing companies in Indonesia as a developing country. This study suggests that firms should develop green innovation strategy and it must be reflected as green organizational identity to get environmental organizational legitimacy, and then firms will achieve a better green innovation performance.

This study has the following limitations. First, a structural equation modeling is used as an approach to test the hypotheses and this may raise the issue of causality. Second, although examining the antecedents of green innovation, this study does not investigate its consequences. Third, the sample size used in this study is relatively small and limited to companies in the Surabaya Industrial Estate Rungkut, Indonesia. Finally, this study employs a cross-sectional survey and the data obtained are based on the Likert scales that may raise the issue of perception bias of the sampled managers.

The results of this study suggest that managers need to verify the roles of green organizational identity and environmental organizational legitimacy in their companies. In the era of environmentally conscious society, managers need to start with developing a green innovation strategy. However, managers also need to understand that having a strategy is not sufficient enough to directly enhance green innovation performance. Managers need to seek approaches on how to cultivate a strong green organizational identity and use the identity to get environmental organizational legitimacy from the stakeholders.

This research model and results provide the empirical evidence of the importance of green innovation and its antecedents, namely, a green innovation strategy, green organizational identity and environmental organizational legitimacy. When manufacturing companies in Indonesia implement this model of managing environmental issues, the society will get more benefits in terms of the reduction of environmental degradation, the availability of more green products and programs, the improvements in resource efficiencies and economic development and the enhancement of the quality of life.

A research framework exploring the mediating roles of green organizational identity and environmental organizational legitimacy on green innovation strategy–green innovation relationship is developed to provide the empirical evidence for the organizational identity theory and the organizational legitimacy theory. This study also provides practical implications for managers who are facing the environmental awareness business environment. If they want to achieve a better green innovation performance, managers should enhance their awareness in managing the antecedents of green innovation performance, namely, green innovation strategy, green organizational identity and environmental organizational legitimacy.

New information technologies such as IoT and big data analytics have reshaped the development of smart green products. These products exhibit two important features that are not seen in traditional products: environmental friendliness and data network effect. Based on these unique features, the authors investigate a firm's optimal selling strategy of smart green products from both the profitability and environmental perspectives.

The authors establish stylized models to consider the optimality of three selling strategies: (1) traditional strategy – only offering traditional products, (2) green strategy – only offering smart green products, and (3) hybrid strategy – offering both traditional and smart green products.

The authors’ analysis shows that in the absence of data network effect, there will always be a conflict between profit maximization and environmental protection. However, a strategy that benefits both the firm and the environment exists when data network effect is present. Interestingly, hybrid and traditional strategies can be win-win strategies, but the green strategy cannot. Also surprisingly, the green strategy may harm the environment more as smart products become greener.

This study examines the economic and environmental implications of selling smart green products, and contributes to existing literature on sustainable operations and green product design by incorporating the impact of both consumer environmental awareness and data network effect. The authors’ findings shed light on how to coordinate the profitability and environmental impact of selling smart green products in the era of big data and IoT.

Building upon the insights of the resource-based view and contingency theory, the purpose of this paper is to investigate the boundary conditions of green business strategy on the export financial performance of firms from an emerging economy.

A quantitative study was conducted to test the conceptual model. In total, 224 questionnaires were collected from exporting manufacturing companies and were analyzed using full information maximum likelihood.

The results of the study demonstrate that green business strategy has a strong and positive relationship with export financial performance. Also, environmental orientation and cost leadership play a significant and positive moderating role in this relationship. However, green product differentiation is complementary with green business strategy only when a cost leadership strategy is also maintained.

The study has practical implications since it identifies green business strategy as an important lever for emerging export managers. More specifically, they have to be aware of the challenges when they operate outside the cost leadership boundaries and should actively seek to develop the environmental orientation of employees and managers.

This study reveals the relationship between green business strategy and export success for emerging country exporters that are understudied and face unique challenges. In particular, the authors explore the contingency factors that strengthen or weaken the relationship and provide additional insight to the question: “when does it pay to be green?” for exporters from emerging economies.

The purpose of this study was to examine the issue of corporate environmentalism from a managerial perspective, specifically in connection to top management commitment and the need for competitive advantage, which can be integrated into the decision making of environmental strategies.

This study uses data from a recent online survey of 77 Danish firms. Surveyed firms in the study were divided into two categories based on their adoption of a green strategy. Univariate analysis of variance and step-wise discriminant analysis were used to identify variables that discriminate between these firms.

The results revealed that systematic planning to develop a green strategy coupled with each firm's view of the importance of formulating and implementing a green strategy are the key factors discriminating between the two groups of firms.

Since this study did not consider external factors such as, governmental regulation, NGO pressure, etc. the authors do not rule out the importance of these factors. But it makes sense to conclude both internal and external factors (no necessarily equally) contributing to a successful adoption of green strategy.

It appears that adoption of a green strategy is a result of, mostly, internal factors. These factors are certainly within the control of management. Adopting any new strategy requires a wide range of knowledge and skills. Unfortunately, many managers and employees are deficient on their views about the importance of formulating and pursuing a green strategy. They need to be informed that half-hearted efforts in adopting a green strategy make the process both slow and difficult.

Management commitment to systematic planning to develop and implement a green strategy is essential. Committed managers systematically explore the possibilities of gaining competitive advantages through a proactive strategy by transforming the nature of their products and organization. However, the management mindset does not change solely due to inner managerial drives, but in a more complex interplay with outside stakeholders, including customers, consumers, and non-governmental bodies. Therefore, the riskiest venture occurs when the firm and its management are not totally committed.

Developing a foundation for adopting a green strategy and verifying the results should contribute to a more comprehensive managerial understanding of how green strategies should be adopted by firms.

Green innovation strategy is not only a new idea to achieve green development but also the inevitable choice for enterprises to upgrade. At present, the research on the driving forces of green innovation strategy mainly focus on direct impact of single factor, lacking the overall consideration of internal and external environment. At the same time, research on the contingency effect of top management’s environmental awareness is scarce. This paper aims to explore how external environment pressures (policy pressures and market pressures) and internal environment driving force (innovation resources and innovation capability) make enterprises to choose green innovation strategy with moderating effect of top management’s environmental awareness.

Based on the sample of 216 enterprises, this paper explores the relationship between policy pressure, market pressure, innovation resources, innovation capability and the green innovation strategy with moderating effect of top management’s environmental awareness from inside and outside driving angle.

The results of the hierarchical regression model show, first, the driving effect of factors in the external environment. The coercive policy has an inverted U-shaped impact on the green innovation strategy. The incentive policy and the market pressure both have a significant positive impact on the green innovation strategy. Second, the driving effect of factors in the internal environment. The innovation capability has a significant positive impact on the green innovation strategy. The innovation resources have no significant impact on the green innovation strategy. Third, the moderating effect of top management’s environmental awareness. The relationship between the green innovation strategy and the coercive policy is stronger when the top management’s environmental awareness higher. The relationship between the green innovation strategy and the market pressure is stronger when the top management’s environmental awareness higher. The relationship between the green innovation strategy and the innovation resources is stronger when the top management’s environmental awareness higher. Otherwise, the relationship between the green innovation strategy and the innovation capability is weaker when the top management’s environmental awareness higher. And there is no significant change about the relationship between the green innovation strategy and the incentive policy when the top management’s environmental awareness higher.

First, the authors have promoted the integrated research on the drivers of the enterprise’s green innovation strategy. From the perspective of internal and external environment driving forces, this paper analyzes the key factors influencing the decision-making of the green innovation strategy. Second, the study has contributed to the strategic choice theory. This paper studies the driving mechanism of the green innovation strategy from a new perspective of the strategic choice theory.