The adoption of environmental strategies in large Colombian businesses

98 | Carlos Fúquene Retamoso

In a consistent manner, Chemical Company has maintained R&D capabilities over years of operation in conjunction with the improvement of its operational efficiency. For example, the firm encourages employees to identify and implement operational efficiency, relying on ideas and suggestions based on employees´ experience and knowledge. Chemical Company developed an Innovative Ideas Program that stimulates employee participation through an incentive plan based on their recognition and economic compensation, which has operated for more than 20 years. Specifically, in 2016 and 2015, the company implemented more than 90 innovative ideas per year, surpassing by 80% those implemented in 2014 (Chemical-Company Sustainability Report, 2018). The Company has constantly used its financial capability for the adoption of cleaner technologies for operational efficiency (i.e. eco-efficiency). Finally, the Company made an investment of 15 million USD in 2019 to renovate its manufacturing technology (Lozano, 2019). Regarding, strategic capabilities, Chemical Company has focused on achieving an advantageous position through business efficiency. Specifically, the Company acquires companies and creates synergies throughout its value chain to achieve an economically sustainable business (Hernández, 2011). The following statement, taken from the sustainability reports, shows that the business model captures value by vertical integration: “The business strategy emphasizes the importance of being a vertically integrated company, with focus on special products with the aim of reducing the volatility of raw materials. Hence, we focus on production and marketing towards products with greater profitability and value added”

Table 15 presents a summary of the influencing sub-factors and environmental practices associated to the dynamic business model of the firm. Table 15. Business Model - Chemical Company. esa factor Business model

category Dynamic

main features Company has worked to increase its portion of the market (50% of market share) by developing and positioning its new products and using its R&D capabilities to take advantage of market opportunities. Company has developed an Innovative Ideas Program for process redesign. Company has adopted cleaner production technologies to achieve operational efficiency.

The adoption of environmental strategies in large Colombian businesses

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Table 40. Factors for the adoption of environmental strategies

Table 39. ESA and ESA Factors across cases

Table 38. Main ESA factors observed in the case studies

Figure 15. ESA and the ESA factors at the Dairy Company

Table 37. Main environmental strategies observed in the case studies

Table 35. Business model – Dairy Company

Figure 14. ESA and the ESA factors at the Cosmetic Company

Table 36. Manager´s Perspective – Dairy Company

Table 33. ESA –Dairy Company

Table 34. Business Context – Dairy Company

Table 32. Manager´s perspective – Cosmetic Company

Table 30. Business Context – Cosmetic Company

Table 31. Business model – Cosmetic Company

Table 29. ESA – Cosmetic Company

Table 23. Business Model – Oil & Gas Company

Table 25. ESA – Agri-business

Table 27. Business Model – Agri-business

Table 26. Business Context – Agri-business

Table 22. Business Context – Oil & Gas Company

Figure 11. ESA and the ESA factors at the Utility Company

Table 21. ESA – Oil & Gas Company

Table 20. Manager´s Perspective – Utility Company

Table 19. Business Model – Utility Company

Table 18. Business Context – Utility Company

Figure 10. ESA and ESA factors at the Chemical Company

Table 17. ESA – Utility Company

Table 16. Manager´s Perspective – Chemical Company

Table 14. Business Context - Chemical Company

Table 15. Business Model - Chemical Company

Table 13. ESA - Chemical Company

Figure 9. ESA and ESA factors at the Bank

Table 12. Manager´s perspective -Bank

Table 10. Business Context - Bank

Table 8. Selected cases

Table 11. Business Model - Bank

Table 9. ESA - Bank

Table 7. ESA and influencing factors

Figure 8. Data classification

Figure 6. Theoretical Model of ESA and ESA Factors

Table 5 Business models and environmental strategies

Table 4. Business context and Environmental Strategies

Figure 5. Collaborative networks of ESA research

Table 3 Co-occurrence configuration of ESA Factors

Table 2. Typology of environmental strategies used in this research

Figure 3. Co-word clusters in the literature review

Table 6. Manager´s perspective and Environmental Strategies

Figure 2. Distribution of articles in Journals