A natural-resource-based view of the firm
Historically. management theory has ignored the constraints imposed by the biophysical (natural) environment. Building upon resourcebased theory. this article attempts to fill this void by proposing a natural-resource-based view of the firm-a theory of competitive advantage based upon the firm's relationship to the natural environment. It is composed of three interconnected strategies: pollution prevention. product stewardship. and sustainable development. Propositions are advanced for each of these strategies regarding key resource requirements and their contributions to sustained competitive advantage.