The Potential of an Environmentally Friendly Business Strategy — Research from the Czech Republic

Abstract

This article deals with the importance of environmental factors for business strategy. It discusses the potential benefits to companies which show concern for the environment beyond their legal obligations. The main contribution of this article is in presentation of the results of a questionnaire survey concerning customer views on products certified as ‘environmentally friendly’. The knowledge of the respondents concerning individual instruments was not great. Most of the respondents were unwilling to pay more than 20% more for environmentally friendly products in comparison with conventional products. Only 38% of the respondents bought environmentally friendly products repeatedly.