| This research explores how some companies have successfully leveraged sustainability to develop and commercialize new and environmentally friendly innovations (eco-innovations). These eco-innovations follow an Industrial Ecology model where waste is minimized, and efficiency maximized. This case study examines five firms and scrutinizes their strategies that they have used to develop and commercialize their eco-innovations. Furthermore, the study observes how Resource Based Theory (RBT), Stakeholder Theory and Management of Innovation Theory (MOI) explain this phenomenon as well as how Scenario Planning can be used to assist in the eco-innovation process.; The research indicates that successful firms have established networks and relationships with important environmental stakeholder; have concentrated their marketing efforts on the cost and performance benefits of their product with environmental benefits only being touted as a secondary benefit; have established specific performance goals for their eco-innovations during the development and commercialization phases and they have readily recognized and utilized the firm's core competencies. Furthermore, these firms have actively worked to establish barriers for their competition and have used these barriers to create new markets; they have proactively sought environmental awards and recognition and they have successfully leveraged government resources for financial, marketing and product verification assistance. |
