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IIMS Journal of Management Science
Year : 2010, Volume : 1, Issue : 1
First page : ( 27) Last page : ( 37)
Print ISSN : 0976-030X. Online ISSN : 0976-173X.

Effects of Environmental Management Standards on Business Performance in India

Singh Satyendera

Biograpgical Note: Dr. Satyendra Singh is Director of Centre for Emerging Markets, and Associate Professor of Marketing and International Business in the Faculty of Business and Economics at the University of Winnipeg, Canada. He has authored Market Orientation, Corporate Culture and Business Performance (Ashgate, UK, 2004), and Business Practices in Emerging and Re-emerging Markets (Palgrave, USA, 2008), and edited Handbook of Business Practices and Growth in Emerging Markets (World Scientific, Singapore, 2010). He is also the Editor-in-Chief of International Journal of Business and Emerging Markets. Dr. Singh can be contacted at s.singh@uwinnipeg.ca.

JEL CLASSIFICATION: D6, E47, G31, H43

Abstract

Purpose of this study was to test the effects of perceived importance of environmental management on business performance while controlling for firm size and cost of implementation of the environmental management standards. The term environmental management refers to a business process that ensures an environmentally friendly manufacturing process; i.e., one that complies with the Environmental Management Standards (ISO 14001), whereas business performance relates to firm's profitability, international trade, “green” (environmentally friendly) image and competitive advantage. Using survey method and multiple regression analysis, results of this study indicated that (1) environmental management was significantly positively related to profitability and international trade; (2) firm size was significantly positively related to competitive advantage and (3) cost was significantly negatively related to competitive advantage. The implication for managers is that they can use the findings to formulate strategies to differentiate and position their firms as green, and thus can target green consumers and attract potential investors interested in investing in green firms. This study contributes to literature by operationalizing the environmental management scale, testing it for its reliability and validity and applying it in the emerging market of India whose managers' attitudes toward environment are somewhat different from developed countries.

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Key words

Business Performance, Competitive Advantage, Environmental Management, Green Image, International Trade, ISO 14001.

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