Abstract
Global green trends are creating new challenges and opportunities for entrepreneurs worldwide with customers now more environmentally aware and willing to pay extra for green services and products. In considering this phenomenon, the current study focuses on the positive influence of enviropreneurial orientation on the business performance of small firms and explores the mediation effects of green marketing mix and eco-labeling strategies. Drawing upon the natural resource-based view (NRBV) and the dynamic capability view (DCV), we tested our multiple mediation model with a sample of owners/managers of 160 small firms from Bangladesh, with these firms coming from the sectors of trading, manufacturing, and services. To test the study’s hypotheses, we employed the variance-based structural equation modeling (SEM) method, using the partial least squares (PLS) technique. The results reveal that green marketing mix and eco-labeling strategies transmit the effect of enviropreneurial orientation to business performance of small firms. Both strategies are found to be mediators in the relationship between enviropreneurial orientation and business performance of small firms. The study also offers suggestions for future research.
Highlights
Society’s concerns about ecological deterioration have tightened competitive pressure and brought new challenges for small firms to overcome [1,2,3,4]
The current study tested the reliability, convergent validity, and discriminant validity to confirm the validity of the measurement model
The study considers enviropreneurial orientation as the main antecedent of small firms’ business outcomes. It is positioned as the starting point of the mechanism, while green marketing mix strategy and eco-labeling strategy are considered as mediators in the relationship between enviropreneurial orientation and small firm business performance
Summary
Society’s concerns about ecological deterioration have tightened competitive pressure and brought new challenges for small firms to overcome [1,2,3,4]. Research in the field of small firm entrepreneurship has documented a wide range of issues concerning the importance of environmental factors These issues include the types of capabilities and resources [7,8,9,10,11] and management practices [12,13,14,15,16,17] in relation to a firm’s operations and supply chain system [18,19,20,21], its branding and marketing strategies [22,23,24,25], investment and financing [26,27,28], and matters related to services [29,30]. The green marketing orientation of small firms in terms of their enviropreneurial orientation via green marketing mix and eco-labeling strategies is a vital part of the environmental sustainability puzzle
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