Table 6.

Main implications of the research for the different stakeholders

StakeholderImplications
Employees
  • Firms with a sustainable approach are likely to attract purpose-driven skilled workers, while reinforcing human capital retention

  • As a result of being green, firms would be set to attract and retain employees who identify themselves with the corporate purpose

Owners
  • Green practices contribute to improved financial results and competitiveness in international markets

  • Export capacity could play an important role in embracing green process strategy in global markets

  • Investments in green innovation generate short-term savings and eventually unlock further (strategic) value once scaled

Managers
  • Green innovation embedded in long-term planning generates competitive benefits

  • Green innovation helps to develop new market opportunities, increase productivity and competitive advantage

  • Export capacity could play an important role in embracing green process strategy in global markets

  • Green innovation increases organizational competitiveness by reducing risks and cost structures over time

Customers
  • Consumers increasingly screen for and reward green processes and products

  • Consumers have been more aware of the environmental impact of human activities, so they are likely to adopt a more critical, environmentally- and socially-driven behavior

  • Consumers are more aware of the environmental impact of human activities, which is why they adopt a more critical behavior when purchasing, choosing product upon weighing their environmental and social footprints

Suppliers
  • By optimizing processes and resource allocation and use, suppliers with green and sustainable processes will benefit by tapping into new market opportunities

  • To improve product innovation processes, suppliers with green practices will be favored along the supply chain

Investors
  • Research unveiling the positive relationship between green innovation and competitiveness contributes to further encourage firms to invest in greener process and product R&D, with the expected positive impact on profitability and long-term competitiveness

  • Businesses with a positive image and better returns than their competition are attractive to investors

Media
  • Green practices improve the image of the firm by including sustainable processes in its products

  • By generating activities and products beneficial to the community, favorable media coverage is likely in this type of business

Communities
  • Green innovation fuels the evolution of the organization to ensure a more sustainable future for next generations

  • Communities benefit from the reduction of negative externalities of manufacturing firms on both society and the environment

Government
  • The government can offer incentives and develop policies for firms to adopt sustainability practices, eventually improving all players along the supply chain

  • Green innovation can elevate strategic planning at the firm and national levels through policies that encourage sustainable green growth

Note:

R&D = Research and development

Source: Table by authors

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