This book describes the sustainable development journey of 15 business families committed to using their enterprises as a force of societal good. In turn, each family reaps benefits of high economic returns, while contributing to society and environment. The youngest family firm is in its 20s, while there are others over 100 years of age. Size, industry, locations vary. But all these business families share a deep shared commitment towards sustainable development, control over strategic decision-making in their firms and trans-generational continuity intentions. Family values embed their enterprises with a strong sense of purpose to achieve their chosen sustainable development goals. Professionalized systems and processes foster the development of capabilities, and partnerships with a variety of stakeholders ensure the simultaneous achievement of social, environmental and profitability goals.
The role of stakeholders is integral to corporate sustainability as society increasingly demands that corporations play a role in achieving environmental objectives in addition to building shareholder wealth. In the first book to gather cutting-edge research on the interactions between stakeholders and organizations within the context of corporate sustainability, the contributors to this volume provide a diversity of perspectives from North America, Europe, and Oceania.
The first book to gather cutting-edge research on this complex relationship, Corporate Environmental Strategy and Competitive Advantage presents conceptual ideas and empirical findings, as well as a valuable review of extant literature and future directions for researchers. At an organizational level of analysis, the topics covered include the external and internal antecedents of environmental capability-building including public policy, stakeholder engagement, managerial and organizational values, and human resource practices, and the outcomes of such capabilities in terms of environmental innovation. At a macro level, the topics covered include an examination of capabilities that will help organizations detect and prepare for extreme environmental events, and the development of clusters/networks of innovation to tackle sustainability problems that transcend organizational boundaries.