Key Factors on Green Product Development: Influence of Multiple Elements

Abstract

Green product (GP) development has become a key strategic consideration for many worldwide organisations, mainly due to environmental regulations and public awareness of environmentally conscious practices. In particular, companies are devoting more attention to products which reflect the need for environmental preservation, as well as allow them to maintain their market share and competitive advantage (sustainable economy). However, the market shares of many GPs have not increased in correspondence with the rising environmental awareness. Therefore, it is relevant to identify and discuss the role of the key factors that influence GP development. The purpose of this chapter is to identify the main actors (consumers, companies, universities and governments) that influence GP development and discuss their implications. As GPs are considered to be a value driver, it is worth emphasising that the pursuit for high environmental performance of sustainable products can positively contribute to an organisation’s competitiveness and customer expectations. A comprehensive literature review analysing the state-of-the-art concerned with GP development, along with results of surveys and cases, sustains the qualitative discussion on the key factors that influence the development of products, which have a reduced environmental impact during their whole life-cycle. The chapter concludes by presenting a framework derived from a Multiple Helix approach on GP development that identifies the key factors associated to the main actors, as well as their interrelationships in this ecosystem. The body of knowledge that has been created here is meant to support mainly students and practitioners, but also new researchers, who are addressing the problematic issues of GP development.