Abstract
With the increasing number of firms transitioning towards a circular economy, the theoretical and practical understanding of sustainability has been changing in depth and scope. This transition has fundamentally changed the way firms make sustainability trade-offs. The extant literature on trade-offs tends to focus on established incumbent firms that predominantly indulge in market-oriented decisions where economic priorities drive the deployment of scarce resources to “other” sustainability dimensions. In contrast to a market-oriented understanding, emerging studies on highly committed firms have demonstrated the importance of nonmarket-based factors that bolster the social, environmental, and political standings of firms. Such studies have cast doubts on our current understanding of the trade-off between different dimensions of sustainability. Aiming to inform the sustainability trade-off literature, we carried out a mixed-method study to explicate the rationale and dynamics of sustainability trade-offs.
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