Strategic Planning Capabilities in the Era of Pro-Environment Policies

Progress towards net zero carbon footprints requires strategic planning aimed at pro- environmental objectives. Yet critiques argue that strategic planning hinders flexibility of firms, suggesting lower management quality. Furthermore theory suggests a high flexibility - high efficiency position is preferable for a firm. Current research first shows through simulations that a low-flexibility strategy (e.g., due to strategic planning) achieves higher profits compared to a high-flexibility strategy that externalizes a proportion of unit costs to social and/ or natural environment. Second, the expected positive relationship between strategic planning capability (SPC) and management quality (MQ) is tested, with a dataset for 7,299 firms from 35 countries.

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