Reinforcing Green Business Strategies with Industry 4.0 and Governance towards Sustainability: Natural-resource-based View and Dynamic Capability

Fadi Alkaraan, Mahmoud Elmarzouky, Khaled Hussainey (), V.G. Venkatesh, Yangyan Shi and Nadia Gulko
Additional contact information
Fadi Alkaraan: University of Lincoln [UK]
Mahmoud Elmarzouky: Aston University [Birmingham]
V.G. Venkatesh: Métis Lab EM Normandie - EM Normandie - École de Management de Normandie = EM Normandie Business School
Yangyan Shi: Shenzhen University [Shenzhen]
Nadia Gulko: University of Lincoln [UK]

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Abstract: The study explores the influence of contextual factors surrounding production planning and green strategic investment decision-making practices (GSIDMP) in UK companies. We utilize a mixed-method approach as a research methodology to study the current trend of production planning and GSIDMP. This study's conceptual model is rooted conspicuously in the resource-based theory (RBT), natural-resource-based view, and dynamic capabilities. We empirically examine the nexus among GSIDMP, technological innovation, dynamic capability, and companies' performance. Our study was based on a sample selected from UK-listed companies, FTSE ALL-Share Index for the period (2012\textendash2021). Also, the study utilizes data from the UK Innovation Survey (2018\textendash2020) and corporate disclosure through companies' annual reports as a complementary approach for data collection. Findings of this study explore the interdependencies among company dynamic capability, advanced technological innovation and governance mechanisms, and their mediation influence on the nexus between GSIDMP and companies' performance. This study sheds lights on current business innovation strategies. Findings reveal how current practices of production planning and GSIDM in large UK companies shaped by boardrooms absorptive and adaptive capabilities, knowledge-generating and knowledge-collaboration capabilities, technological adoption, and corporate governance mechanisms. This study offers insight regarding boardrooms proactive engagement in exploration and exploitation activities to strengthen ambidexterity through various innovation trajectories associated with green production and GSIDMP towards sustainability. We provide managerial implications for decision-makers, regulators, investors, scholars, and other stakeholders. \textcopyright 2024 The Authors. Business Strategy and The Environment published by ERP Environment and John Wiley & Sons Ltd.

Keywords: companies performance; dynamic capabilities; ESG performance; governance; green innovation strategies; green production; green strategic investment decisions; natural resource based view; sustainability; sustainable business strategy; technological adoption (search for similar items in EconPapers)
Date: 2024
Note: View the original document on HAL open archive server: https://hal.science/hal-04432397v1
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Citations: View citations in EconPapers (2)

Published in Business Strategy and the Environment, 2024, ⟨10.1002/bse.3665⟩

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Journal Article: Reinforcing green business strategies with Industry 4.0 and governance towards sustainability: Natural‐resource‐based view and dynamic capability (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-04432397

DOI: 10.1002/bse.3665

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