We explore corporate environmental strategy over time, investigating the patterns of evolving environmental investment decisions. Longitudinal case studies provide evidence that environmental strategy evolves through a feedback process, wherein outcomes of earlier decisions have an impact on subsequent decisions. Specifically, positive feedback from outcomes like innovation triggers higher goals, enhancing the undertaking of advanced investments, whereas negative feedback from outcomes, such as increased costs, decelerates the adoption of further investments. The study points to an emergent view of environmental strategy, where capabilities that are gradually developed in concomitance with environmental outcomes lead to an upgrading of environmental goals, thus triggering the feedback process. The process eventually culminates in higher levels of environmental conduct, being more and more integrated with business strategy and competitive advantage. Managers' values and environmental attitudes influence environmental decisions and actions, affecting the acceleration of the feedback process and the magnitude of responses. Managerial implications are discussed. Copyright © 2013 John Wiley & Sons, Ltd and ERP Environment

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This study applies the lens of effectuation to product diversification and examines the moderating effects of effectuation processes on the relationship between diversification and performance in new ventures. Effectuation processes are conceptualized in terms of experimentation, affordable loss, flexibility, and pre–commitments. The findings indicate that, with the exception of affordable loss, effectuation processes exert a positive effect on the diversification–performance relationship. Theoretical and empirical implications are discussed.

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Environmental product innovation (EPI) is an imperative for contemporary business as it enhances firm competitiveness and provides significant societal benefits. Arguments that the use of environmental management systems-such as ISO 14001may enhance EPI have not been empirically supported. In this study, we argue that the environmental management systems-EPI relationship is contingent upon the level of a firm's engagement with three groups of stakeholders, namely, suppliers, customers, and the local community. Using a sample of 1,314 manufacturing firms for the period 2003 and 2014, we find empirical evidence that supports our hypothesis for all three groups of stakeholders. Further analysis reveals that for firms with prior experience with quality management systems, engagement with local communities becomes the critical condition. We discuss the implications of these results for both theory and practice. KEYWORDS environmental management systems, environmental product innovation, ISO 14001, quality management systems, stakeholder engagement

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