GREEN BUSINESS- Way to achieve globally sustainable competitive advantage

  • Upasana Kanchan Research Scholar, School of Management, Gautam Buddha University, Greater Noida-201310 Uttar Pradesh(INDIA)
  • Naveen Kumar Assistant Professor, School of Management Gautam Buddha University, Greater Noida-201310, Uttar Pradesh (INDIA)
  • Abhishek Gupta Assistant Professor, Shri Ram Murti Smarak college of Engineering & Technology, Bareilly, Uttar Pradesh (India)
Keywords: Green Business, Green sustainable competitive advantage, Green marketing.

Abstract

Green business refers to sustainable business that meets customers needs in ways that solve rather than cause environmental and social problems. Green businesses operate across all business sectors from production of conventional goods/services to developing new breakthrough technologies. This model of socially and environmentally responsible business does not assume sacrificing of corporate profits. On the contrary, sustainable businesses show financial success in long-run, benefit many stakeholders while exploiting none. This paper explores the tremendous impact the green movement is having on marketing and business strategies. It explores the possibilities that green technologies and products have on sustainable competitive advantage in the competitive environment.

This paper takes an active approach and proposes to turn business green. Potential benefits of such an action are provided as arguments to support the decision.

In this paper, three factors were identified as crucial for achieving a so-called green sustainable competitive advantage: entrepreneurship, commitment to the environment, and corporate social responsibility. As the competitive arena is constantly being shifted by institutions towards ecology through new regulation, utilization of those resources enables firms to better respond to the changes and gain a favorable position in the market. Green business also provides an opportunity to expand through substituting products or by entering new geographical areas.

Downloads

Download data is not yet available.

References

Ahmad Nor Lela et al., “Green Event Management and Initiatives for Sustainable Business Growth”, International Journal of Trade, Economics and Finance, Vol. 4, No. 5, October 2013 pp. 331-335

Arseculeratne Dinuk & Yazdanifard, Rashad, “How Green Marketing Can Create a Sustainable Competitive Advantage for a Business”, International Business Research; Vol. 7, No. 1; 2014 pp. 130-137

Bharadwaj, S., Vradarajan, P. R., & Fahy, J. (1993), “Sustainable Competitive Advantage in Service Industries: A Conceptual Model and Research Propositions,” Journal of Marketing, Vol. 57, No. 4, pp. 83-89.

Brett Wills (2009), The business case for environmental sustainability, HPS

Chen Chun-Shuo and Lin Long-Yi, “A New Framework: Make Green Marketing Strategy “.

Ernst &Young (2008), Comparative Advantage And Green Business,

Ginsberg, Jill M. and Bloom, Paul N. (2004) Choosing the Right Green Marketing Strategy, MIT Sloan Management Review, 46(1), 79-84.

Hayton, James C. and Kelley, Donna J. (2006) A Competency-based Framework For Promoting Corporate Entrepreneurship, Human Resource Management, 45(3), pp.407-427. go with Competitive Strategy”.

Hamner, B. (2006), “Effects of green purchasing strategies on supplier behavior”, in Sarkis, J. (Ed.), Greening the Supply Chain, Chapter 2, Springer, London, pp. 25-37.

Hart, Stuart L. (1995) A Natural-Resouce-Based View of The Firm, Academy of Management Review, 20(4), 986-1014.

Hsu Chin-Chun. et al.( 2013), “Supply chain drivers that foster the development of green initiatives in an emerging economy”, International Journal of Operations & Production Management Vol. 33 No. 6, pp. 656-688

Kramer, Mark R. and Porter, Michael E. (2007 ), Strategy and Society: The Link Between Competitive Advantage and Corporate Social Responsibility, Harvard Business Review, 85(6), pg 78-92

Levy, Michael and Barton Weitz (2001),Retailing Management,8th ed. NewYork: McGraw-Hill

Menguc, Bulent and Ozanne, Lucie K. (2005) Challenges of the “green imperative”: a natural resource-based approach to the environmental orientation-business performance relationship, Journal of Business Research, 58, 430-438.

Murphy, P.R. and Poist, R.F. (2003), “Green perspectives and practices: a ‘comparative logistics’ study”, Supply Chain Management: An International Journal, Vol. 8 No. 2, pp. 122-131.

Nidumolu Ram, Prahalad C.K., ARangaswami M.R Why Sustainability is now the key driver of innovation, Harvard Business Review Sep-2009 Pg 41-52

Nunes Breno and Bennett David (2010), Green operations initiatives in the automotive industry An environmental reports analysis and benchmarking study, Benchmarking: An International Journal Vol. 17 No. 3, pp. 396-420

Oliver, Christine (1997) Sustainable Competitive Advantage: Combining Institutional and Resource Based Views, Strategic Management Journal, 18(9), 697-713.

Pavel Kren (2008), The Road to Green Business,

Sharma Arvind, Doing Business the’ Green Way’, Indian Management- June 2012

Tan, L. P. (2005), ”Implementing ISO 14001: Is It Beneficial for Firms in Newly Industrialized Malaysia,” Journal of Cleaner Production, Vol. 13, pp. 397-404.

Tracy Allen (2007), Green Marketing,

Vernekar S.S. and Venkatasubramanian K., “Green initiatives in Indian industry: A Silhouette”, Journal of commerce and Management Thought IV- 4, pp 822-836

Zsidisin, G.A. and Siferd, S.P. (2001), “Environmental purchasing: a framework for theory development”, European Journal of Purchasing & Supply Management, Vol. 7 No. 1, pp.61-73.

Published
2015-09-21
How to Cite
Kanchan, U., Kumar, N., & Gupta, A. (2015). GREEN BUSINESS- Way to achieve globally sustainable competitive advantage. Journal of Progressive Research in Social Sciences, 2(2), 92-100. Retrieved from http://scitecresearch.com/journals/index.php/jprss/article/view/322
Section
Articles