The adoption of environmental strategies in large Colombian businesses

Case studies

& Gas Company in environmental practices such as ISO 14001 and self-reporting initiatives (e.g., DJSI). For example, Oil & Gas Company was listed in the Dow Jones Sustainability Index (DJSI) in 2010, after its main competitor in Latin America was listed in 2006. Additionally, Oil & Gas Company was certified under ISO 14001 in 2008 after its main competitor in Latin America was certified in 1997. In addition to coercive, normative and mimetic pressures, Oil & Gas Company is subject to the variation of the international price of oil and has faced an extent fall of barrel prices since 2015. Specifically, oil prices underwent a considerable drop because of strong growth in OPEC production in previous years. The average barrel prices were $43.55 USD in 2016, compared to $52.39 USD per barrel in 2015 and $98.95 USD per barrel in 2104 (BP, 2016). In response to the oil price crisis, the company developed an austerity plan to reduce investments and reduce costs and expenses, through an operational efficiency focus and the renegotiation of contracts in order to continue with the development of the activity of the firm, thus minimizing the possibility of economic risk. Finally, in 2017 and 2018, the oil prices recovered almost by 70% of the value lost since 2014. In 2018, the company finds itself going through a good moment of financial strength due to the fact that it has managed its assets to reach equilibrium and has stabilized its profits after the fall in oil prices (the CEO, 2017). Table 22 presents a summary of the influencing factors and environmental practices found in the Business Context. Table 22. Business Context - Oil & Gas Company esa factor Business context

The adoption of environmental strategies in large Colombian businesses

Articles inside

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