articleTop 1% cited
A Natural-Resource-Based View of the Firm
Academy of Management Review · 1995 · Vol. 20(4) · pp. 986–1014
Stuart L. Hart✉(University of Michigan–Ann Arbor)
Abstract
Historically, management theory has ignored the constraints imposed by the biophysical (natural) environment. Building upon resource-based theory, this article attempts to fill this void by proposing a natural-resource-based view of the firm—a theory of competitive advantage based upon the firm's relationship to the natural environment. It is composed of three interconnected strategies: pollution prevention, product stewardship, and sustainable development. Propositions are advanced for each of these strategies regarding key resource requirements and their contributions to sustained competitive advantage.
Innovation and Knowledge ManagementInnovation and Socioeconomic DevelopmentEnvironmental Sustainability in BusinessCompetitive advantageNatural resourceStewardship (theology)Resource (disambiguation)BusinessEnvironmental stewardshipIndustrial ecologyNatural (archaeology)Environmental economicsEnvironmental resource management
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