The Environmental Strategy of Businesses as an Option under Recession in Greece

Andreas E. Fousteris, Eleni A. Didaskalou, Markos-Marios H. Tsogas and Dimitrios A. Georgakellos
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Andreas E. Fousteris: Department of Business Administration, University of Piraeus, 80 Karaoli & Dimitriou St., 18534 Piraeus, Greece
Eleni A. Didaskalou: Department of Business Administration, University of Piraeus, 80 Karaoli & Dimitriou St., 18534 Piraeus, Greece
Markos-Marios H. Tsogas: Department of Business Administration, University of Piraeus, 80 Karaoli & Dimitriou St., 18534 Piraeus, Greece
Dimitrios A. Georgakellos: Department of Business Administration, University of Piraeus, 80 Karaoli & Dimitriou St., 18534 Piraeus, Greece

Sustainability, 2018, vol. 10, issue 12, 1-19

Abstract: In recent years and mostly during the last two decades, the decisive role of the environment in the business administration field and business life in general has emerged. In the modern, fast changing, and highly competitive business environment, and even more so in the context of the recent economic crisis, businesses constantly struggle to survive, trying to resolve problems and improve their performance and competitive advantage. Therefore, they must save and invest substantial sums of money to build strong infrastructure, to change procedures, and to produce environmentally friendly products. In view of the above, the current study attempted to examine the impact of environmental strategy on the growth of medium and large enterprises in all sectors in Greece, in a period of economic crisis. The study, carried out in February and March 2018, confirmed the positive correlation and the critical role of environmental strategy in the financial performance of Greek enterprises during this period of economic recession. Both eco-efficient practices and innovative practices lead to the creation of competitive advantage and, thus, to the improvement of the financial performance of a firm.

Keywords: environmental strategy; eco-efficient practices; innovative preventive practices; natural environment; competitive advantage; firm financial performance (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

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