Main implications of the research for the different stakeholders
| Stakeholder | Implications |
|---|---|
| Employees |
|
| Owners |
|
| Managers |
|
| Customers |
|
| Suppliers |
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| Investors |
|
| Media |
|
| Communities |
|
| Government |
|
| Stakeholder | Implications |
|---|---|
| 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
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