Table 30. Business Context – Cosmetic Company

144 | Carlos Fúquene Retamoso

image of the sector as an ethical and environmentally responsible industry. Green product development, at industry, has focused on the use of natural ingredients to deliver safety and quality products in alliance with greener suppliers (Berhad, 2013)

The following statement confirms the existence of a normative source from a market trend:

…“ The three brands have included more natural products, with more natural ingredients. This is definitely a market trend around the world, but there is also another aspect that is parallel to that: people want to look good and feel good. Nowadays, there is much more awareness about people´s wellness, which drives the beauty market”…(Vera, 2019).

Finally, in relation to coercive pressures, neither environmental license for natural resource extraction or hearing processes apply to this industry sector. Additionally, the gathered information does not register any influence from communities located nearby the company´s facilities.

Table 30 presents a summary of influencing sub-factors and environmental practices in the Business Context.

Table 30. Business Context – Cosmetic Company.

Factor Category Main features

Business context

Coercive Neither environmental license for natural resource extraction or hearing processes apply to this industry sector Green market Green market demand (i.e. customers and public concern) for the use of natural ingredients and cruelty-free products.

Green industry Subscription to Industry standards such as ISO 14001, printing of catalogues in environmentally sound paper (PEFCa certified) and Global Compact.

a The Program for the Endorsement of Forest Certification provides reassurance to companies involved in the purchasing of wood and paper products committed to the sustainable management of forests.

b) Business model

The company runs a dynamic business model supported by financial capabilities, R&D and operational efficiency. Cosmetic Company is on an upward trajectory expecting to grow at an annual rate of 10% (Notigrafix, 2018).

Financial capabilities constitute a mechanism to perform investments for the development of an efficient production. For example, the company