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; Nadia Gulko

doi:10.1002/bse.3665

journal article Open Access Jan 11, 2024

Reinforcing green business strategies with Industry 4.0 and governance towards sustainability: Natural‐resource‐based view and dynamic capability

Fadi Alkaraan

Business Strategy and the Environment Vol. 33 No. 4 pp. 3588-3606 · Wiley

View at Publisher Save 10.1002/bse.3665

Abstract

AbstractThe 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 (2012–2021). Also, the study utilizes data from the UK Innovation Survey (2018–2020) 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.

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References

Details

Published: Jan 11, 2024
Vol/Issue: 33(4)
Pages: 3588-3606
License: View

Authors

F

Fadi Alkaraan

University of Lincoln Lincoln UK; Gulf University for Science and Technology Mishref Kuwait

M

Mahmoud Elmarzouky

Aston University Birmingham UK

K

Khaled Hussainey

Khaled Hussainey Portsmouth Business School University of Portsmouth Portsmouth UK

V

V. G. Venkatesh

EM Normandie Business School Metis Lab Le Havre France; Corvinus Institute for Advanced Studies (CIAS) Corvinus University of Budapest Hungary

Y

Yangyan Shi

Centre for Digital Finance Shenzhen MSU‐BIT University Shenzhen China; Macquarie Business School Macquarie University Sydney New South Wales Australia

N

Nadia Gulko

University of Lincoln Lincoln UK; North‐West University Potchefstroom South Africa

Cite This Article

Fadi Alkaraan, Mahmoud Elmarzouky, Khaled Hussainey, et al. (2024). Reinforcing green business strategies with Industry 4.0 and governance towards sustainability: Natural‐resource‐based view and dynamic capability. Business Strategy and the Environment, 33(4), 3588-3606. https://doi.org/10.1002/bse.3665

Reinforcing green business strategies with Industry 4.0 and governance towards sustainability: Natural‐resource‐based view and dynamic capability

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