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The Academy of Management Journal Vol. 40, No. 3 (Jun., 1997) , pp. 534-559 (26 pages) Published By: Academy of Management https://doi.org/10.2307/257052 https://www.jstor.org/stable/257052 Read and download Log in through your school or library Alternate access options For independent researchers Read Online Read 100 articles/month free Subscribe to JPASS Unlimited reading + 10 downloads Purchase article $29.00 - Download now and later Read Online (Free) relies on page scans, which are not currently available to screen readers. To access this article, please contact JSTOR User Support. We'll provide a PDF copy for your screen reader.With a personal account, you can read up to 100 articles each month for free. Get StartedAlready have an account? Log in Monthly Plan
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Abstract Drawing on the resource-based view of the firm, we posited that environmental performance and economic performance are positively linked and that industry growth moderates the relationship, with the returns to environmental performance higher in high-growth industries. We tested these hypotheses with an analysis of 243 firms over two years, using independently developed environmental ratings. Results indicate that "it pays to be green" and that this relationship strengthens with industry growth. We conclude by highlighting the study's academic and managerial implications, making special reference to the social issues in management literature. Journal Information The Academy of Management Journal presents cutting edge research that provides readers with a forecast for new management thoughts and techniques. All articles published in the journal must make a strong empirical and/or theoretical contribution. All empirical methods including (but not limited to) qualitative, quantitative, or combination methods are represented. Articles published in the journal are clearly relevant to management theory and practice and identify both a compelling practical management issue and a strong theoretical framework for addressing it. For more than 40 years the journal has been recognized as indispensable reading for management scholars. The journal has been cited in such forums as The Wall Street Journal, The New York Times, The Economist and The Washington Post. The journal is published six times per year with a circulation of 15,000. Publisher Information The Academy of Management (the Academy; AOM) is a leading professional association for scholars dedicated to creating and disseminating knowledge about management and organizations. The Academy's central mission is to enhance the profession of management by advancing the scholarship of management and enriching the professional development of its members. The Academy is also committed to shaping the future of management research and education. Founded in 1936, the Academy of Management is the oldest and largest scholarly management association in the world. Today, the Academy is the professional home for more than 18290 members from 103 nations. Membership in the Academy is open to all individuals who find value in belonging. Rights & Usage This item is part of a JSTOR Collection.
 Under a Creative Commons license Open access Highlights• We developed a model for assessing the future preparedness (FP) of a firm •We match FP data from 2008 and performance in 2015 •Future-prepared firms outperformed the average by a 33% higher profitability •Future-prepared firms outperform the average by a 200% higher growth •Firms with deficiencies face with a performance discount of 37% to 108%. AbstractCorporate foresight is applied with the expectation that it will help firms to break away from path dependency, help decision makers to define superior courses of action, and ultimately enable superior firm performance. To empirically test this assumption, we developed a model that judges a firm's future preparedness (FP) by assessing the need for corporate foresight (CF) and comparing it to the maturity of its CF practices. We apply a longitudinal research design in which we measure future preparedness in 2008 and its impact on firm performance in 2015. The results indicated future preparedness to be a powerful predictor for becoming an outperformer in the industry, for attaining superior profitability, and for gaining superior market capitalization growth. In the article, we also calculate the average bonus/discount that can be expected by sufficiently/insufficiently future-prepared firms. KeywordsCorporate foresight Future preparedness Firm performance Behavioural theory of the firm Cited by (0)René Rohrbeck is professor of strategy at the Aarhus School of Business and Social Sciences, Aarhus University. His areas of expertise are corporate foresight, microfoundations of organizational capabilities, innovation and technology management. Before joining Aarhus University, he spent 6 years in industry and worked on innovation management at Volkswagen and corporate foresight at Deutsche Telekom. His research has been published in international journals such as Technological Forecasting and Social Change, Technology Analysis & Strategic Management, and R&D Management. His editorial contributions include serving as the managing editor of the special issue on Corporate Foresight for Technological Forecasting and Social Change. Ménès Kum is manager at Deloitte Consulting and leaded the service offering of Digital Strategy for the Monitor Deloitte practice in Germany. His key areas of expertise are corporate growth strategy and innovation management. He supported multiple top managers across industries in defining and setting-up effective innovation, trend scouting and scenario analysis processes driving firm performance. He contributed to the publication of multiple thought leaderships for Deloitte and identified key best practices driving effective innovativeness and sustaining competitive advantage. Ménès Kum is now writing his PhD in the area of Corporate Foresight and Entrepreneurship. © 2017 The Authors. Published by Elsevier Inc. What is the primary goal of a community relations department ?)?What is the primary goal of a community relations department? To build relationships with important community groups. Social capital refers to the norms and networks that enable collective action.
What is one reason firms partner with communities to increase economic development?Managing international relations projects for economic development. What is one reason that firms partner with communities to increase economic development? To expand environmental sustainability.
Why do corporations seek to achieve better reputations?It helps you earn trust, increase your brand's value, and even attract better job candidates. And just like you need to market your products and services to raise awareness and increase sales, you also need to market your reputation.
Which statement about corporate reputation is most accurate?The corporate reputation is accurately described by which statement(s)? All of these are correct: Refers to desirable qualities, Refers to undesirable qualities, Relies on the perceptions of past actions, results, and future prospects.
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How the general public perceives a business firm can have a major effect on its performance.
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