Effect of the Obvious Use of Green Economy Standards on Competitive Advantage

Abstract

Objective: The author conducted a literature review to gather information on methods that have been developed to promote the use of green economy methods. Subsequently, research was conducted on the usefulness and subjective perception of such methods in a sample of companies operating in the Republic of Romania. In addition, the author attempted to identify the factors that influenced managers' decisions in choosing such a tool. Methodology: A web-based survey was developed with the aim of data collection, followed by analysis of associations between the identified variables by applying Pearson's chi-square test. The literature review revealed the importance of making the transition to a green economy   in improving economic impacts. Findings: In total, 100 Romanian companies participated in the           survey, and it was discovered that a large number of them have implemented green        economy methods. In the next part, the use of dimensions of competitive advantage is determined, and the correlation between the use of green economy standards and dimensions of competitive advantage is determined as the factor that influenced the Transition to the green economy. Implication: Since there is a relationship between the use of green economy criteria and the subsequent perception of its efficiency, the results support the arguments that the transition to a green economy drastically affects the competitive advantage and competition of gray firms in general.