JOINT MASTER PROGRAM IN ECONOMICS AND MANAGEMENT OF

PUBLIC SECTOR AND ENVIRONMENT

Student:

Date of birth:

Place of birth:

Permanent address:

Enrolled in program in year:

Title of thesis: “INFLUENCE OF ENVIRONMENTAL MANAGEMENT

ON THE COMPANY'S PERFORMANCE“ Commented [N.V.1]: The title is too general. Do you have in
mind a company in general or a specific company (selected
company?) It seems from the structure of the thesis that you
have in mind a selected company.
Mentor:
Commented [HN2]: Quotation marks could be omitted.

Date:

Student: Mentor:

Program director:
 “INFLUENCE OF ENVIRONMENTAL MANAGEMENT ON THE COMPANY'S
PERFORMANCE“ Commented [N.V.3]: The synopsis requires proofreading
(grammar revision – use British English).

1. Description of the problem

In recent decades great attention of researchers attract subject influence of environmental

management at the company's performance.
(Klassen & McLaughlin, 1996) said in they work that "Environmental management has the
potential to play a pivotal role in the financial performance of the firm.” They also
mentioned that “ Many indivuduals suggest that profitability is hurt by the higher
Commented [N.V.4]: Only one sentence is not allowed in the
paragraph.. In addition there are too many paragraphs. Merge
some of them.
Commented [N.V.5]: Citation in the text is not in line with
the Technical Guidelines. Also for direct citation the page
number should be listed.

production cost of environmental management initiatives, while others cite anecdotal

evidence od increased profitability.” They also highlights linkage of social responsibility to Commented [N.V.6]: There are too many direct citations.
This should be reduced and summarized with your own words.
firm performance, including environmental management “ as an inportant corporate duty” Check for plagiarism: 20%.
Commented [N.V.7]: Grammar
Commented [HN8]: The sentence should end up with a
Corporate social responsibility (CSR) is a form of corporate self-regulation integrated into fullstop.
a business model. CSR policy functions as a built-in, self-regulating mechanism whereby
business monitors and ensures its active compliance with the spirit of the law, ethical
standards, and international norms. The goal of CSR is to embrace responsibility for the
company's actions and encourage a positive impact through its activities on the
environment, consumers, employees, communities, stakeholders and all other members of
the public sphere. (Wikipedia, 2011) Commented [N.V.9]: Wikipedia is not a reliable source, terms
should be taken from reliable sources – theoretical literature and
textbooks.
(Mishra & Suar, 2010) mention in their work that “relation between corporate social Commented [N.V.10]: Wrong citation.
responsibility (CSR) and firm performance has evoked much interest among researchers.
While some studies reveal a positive relation between the two constructs, some others
indicate a negative relation, and still others establish no relation between the two
constructs.”

Thay also said that “A firm’s survival and success depends on the ability of its managers to Commented [HN11]: Grammar.
create sufficient wealth and satisfaction for its primary stakeholders. Primary stakeholders Commented [HN12]: Do not use past tense when reviewing
the literature. Please use present tense instead.
of a firm include employees, shareholders, customers, suppliers, communities, and natural
environment. If any of the primary stake- holder groups withdraws its support to the firm, Formatted: Highlight

the firm’s operation is adversely affected. When stakeholders loose confidence in a firm’s Formatted: Highlight
performance, the firm loses its critical support structure and customer base. Customers stop
buying products or go for legal suits, share- holders sell their stocks, employees do not
perform, and environmental advocates sue, all of which directly affect firm performance.”

(Molina-Azorin, Tari, Claver-Cortes and Lopez-Gamero, 2009) said that “ Environmental Commented [N.V.13]: Wrong citation
management may affect firm performance positively. This positive effect may result from
the positive impact on firm cost and differentiation levels. Pollution prevention can allow
savings in input and energy consumption and increase the demand of environmentally
sensitive consumers.”
Environment Management System (EMS) is a tool for managing the impacts of an
organisation's activities on the environment. It provides a structured approach to planning
and implementing environment protection measures.
Commented [N.V.14]: Use small letters (except the first
one).
Commented [HN15]: Reference is needed when you write
definition – refer to the theoretical literature.

(Sarkis & Sroufe, 2004) said that “A general assumption is that most firms have some
version of an EMS in place with systems ranging from informal policies and practices to
formalised third-party certified systems that are widely publicised by the firm and integral
to their strategic direction. No matter what level and type of system a firm chooses,
practitioners and researchers alike wish to examine and better understand the extent to
which these systems are cross-functional, their impact on performance eval- uation, their
capability to monitor supply chains and the life-cycles of products and services and, most
central, whether these systems do contribute to better environmental performance.”

Another autors (Repetto Robert and Austin Duncan, 2000) explain that “investors and
companies have become increasingly aware of the many ways that environmental issues
affect their businesses, presenting both challenges and opportunities. Environmental issues
generate business risks that have to be carefully managed. Regulations aimed at protecting
human health and the environment constantly evolve and often create uncertainties for
firms with significant implications for their financial performance. Consumer reactions,
toxic torts, and other environmentally motivated litigation create serious non-regulatory
risks that may reduce a company’s markets or undermine its balance sheet. At the same
time, rich rewards are increasingly available to companies able to transform environmental
concern into market opportunity or competitive advantage. Some companies have
recognized new demands for “green” products and established new market niches. Some
companies find their reputations are enhanced and their earnings increased by adopting
cleaner production techniques or facilities. Companies have even made a changing
regulatory framework into a source of competitive advantage by pre-empting
environmental regulations and voluntarily going beyond compliance on their own terms,
knowing that rivals will likely be compelled to react later. In many different ways, the
environment is directly affecting the bottom line, often with very different consequences
for companies even within the same sector.”

By (Burnett, Hansen & Quintana) “Efficiency improvements are an important part of
environmental management because they help eliminate nonvalue added activities and
increase the likelihood that the same or more good (intended) output is produced using
fewer inputs while simultaneously reducing bad (pollution) output.”
Commented [N.V.16]: There are 6 references in the
description of the problem. 10 references are required.
Commented [HN17]: In the description of the problem you
have to mention what you are going to investigate with respect
to the EMS. You have just reviewed the literature, which is not
enough.

2. Purpose of the thesis

To explain the impact of environmental management at the company level, whether it is

positive or negative. Environmental management in recent time even considered one of the Commented [N.V.18]: Incomplete sentence. Write whole
sentences.
increasingly important functions within the company (Klassen & McLaughlin, 1996),
paying a growing attention to environmental pollution and reducing the same. Many
companies have quickly come upon the integration of environmental management into the
overall business strategy, and based on that integration they try to achive competitiveness
in the market.
Throughout this master thesis it will be explained how environmental management affects Commented [N.V.19]: Wrong grammar.
the business performance of the company. After the survey in BiH, we shall try to answer
the question do companies in BiH pay sufficient attention to the environmental Commented [N.V.20]: Grammar: whether companies in BIH
pay sufficient attention
management, and are there any methods to increase that attention.
Commented [N.V.21]: Grammar: and if there are

3. Research objectives

The objectives of this study this master’s thesis are:

1. to Exxplain why environmental management has an impact on performance of

the companies. Commented [N.V.22]: There is no fullstop at the end.
2. To Eexplain why environmental management if properly used has a positive
effect on the financial performance of the company. Commented [HN23]: Small letter.
3. To exExplore how much environmental management is used by companies in
BiH through the survey.
4. To investigate whether environmental management is growing in importance Commented [N.V.24]: Small letter
within the company
5. To investigate the way in which environmental management systems affect the Commented [N.V.25]: Small letter.
strategy of the company. Commented [N.V.26]: Fullstop at the end of the sentence

4. Research methodology Commented [HN27]: The first paragraph below is too

general and imprecise. See the comment 34 below.

Making the final paper will be based on the available literature, published scientific
articles and other resource related to the environmental management. Research
methods include collection of primary and secondary data. Primary date will be Commented [N.V.28]: Grammar: data
collected by the survay. Secondary data will be collected by secondary sources like Commented [N.V.29]: Grammar: survey
report from enterprises by downloading important data from previously published
scientific research papers and downloading data from various publications about the
companies, environmental management, corporate social responsibility.

Literature review will be made to access information and gather knowledge and
distribution on the subject by a search from the different website, internet search for
e-books, official journals and publication from academic institution in their respective
sites.

A questionnaire for the study would be framed for assessing the environmental
management in a certain company. Data collected will be reviewed and summarized.
Types of question would be based on the following pattern:
1. Open-ended question,
2. Two-way question (having alternative response like ’yes’ or ’no’),
3. Multiple choice questions,
4. Ranking scale (respondent to rank a list of items).
Commented [N.V.30]: Who will be the respondents? How
will you evaluate the effect fo the environmental management
on the performance of the company (financial data)?
Commented [N.V.31]: Check the use of definite article (the)
and indefinite (a) in the whole thesis.
To defend the thesis topic used general and specific scientific methods. From the
general scientific methods are used: analysis and synthesis, inductive and deductive
method, generalization, comparative method. From special scientific methods used
method of modeling and survey methods.
Commented [N.V.32]: Grammar: To defend the thesis’ topic
general and specific methods will be used.
Commented [N.V.33]: Grammar: analysis and synthesis are
used
Commented [N.V.34]: The explanation of which methods
will be used is inappropriate. You should explain for each
method in which part of your thesis will be used (according to
the structure). Just to name all methods is not enough.
Commented [N.V.35]: Grammar
 5. Structure of the thesis Commented [N.V.36]: I would suggest to rethink the
structure of the thesis. Will chapters include some subchapters?

INTRODUCTION

Description of the problem

Purpose of the thesis
Research objective
Research methodology
Structure of the thesis Commented [N.V.37]: Not necessary.

1. ENVIRONMENTAL MANAGEMENT
1.1. Environmental management models
1.2. The role of environmental management
1.3. Development of EM models
2. CONNECTION BETWEEN SOCIAL RESPONSIBILITY AND COMPANY
PERFORMANCE
2.1. Corporate social responsibiliy
2.2. Environmental regulations
3. STRATEGIC ENVIRONMENTAL PLANNING
3.1. THE ROLE OF STRATEGIC ENVIRONMENTAL PLANNING Commented [N.V.38]: Only one subchapter is not allowed.
4. ENVIRONMENTAL MANAGEMENT SYSTEMS
5. ORGANIZATIONS FOR ENVIRONMENTAL PROTECTION
6. INFLUENCE OF ENVIRONMENTAL MANAGEMENT ON COMPANY
PERFORMANCE IN “XX” COMPANY Commented [N.V.39]: Selected company instead of XX
company.
7. RECOMMENDATION

8. CONCLUSION Commented [N.V.40]: Conclusion is not numerated.

6. References Commented [N.V.41]: References are not in line with the

Technical Guidelines. Please correct accordingly

1. Ben Brik, A., Rettab, B. and Mellahi, K. Market Orientation, Corporate Social
Responsibility, and Business Performance. Journal of Business Ethics (2011)
2. D. Burnett, R., R. Hansen, D. and Quintana, O. (n.d.) Eco-Efficiency: Achieving
Productivity Improvements through Environmental Cost Management. Accounting
and the Public Interest, Volume 7, 2007.
3. D. Klassen, R. and P. McLaughlin, C. (1996). The Impact of Environmental
Management on Firm Performance. Management Science; Aug 1996; 42, 8;
ProQuest pg. 1199
4. D'Souza, C. (n.d.). ISO 14000 Standards: An environmental solution or a marketing
opportunity? Electronic Green Journal; Apr.2004, Issue 20
5. Darabaris, J. (2008). Corporate Environmental Management. Taylor & Francis
Group, LLC
Commented [N.V.42]: Volume, issue missing
Commented [N.V.43]: Do not cite journal data bases.
Commented [N.V.44]: Correct citation:
Klassen, D., & McLaughlin, P. C. (1996). The Impact of
Environmental Management on Firm Performance. Management
Science;42 (8), 1199 – 1214.
Commented [N.V.45]: Do not cite journal data bases.
Commented [N.V.46]: Place of publication?
Commented [N.V.47]: Correct citation: Darabaris, J.
(2007). Corporate Environmental Management. Boca Raton:
CRC Press.
(Comment: see
http://www.barnesandnoble.com/sample/read/9781420055467)
6. F. Molina-Azorin, J., Claver-Cortes, E., D. Lopez-Gamero, M. and J. Tari, J. Green
management and financial performance: a literature review. Management Decision
Vol. 47 No. 7, 2009 pp. 1080-1100 Emerald Group Publishing Limited
7. F. Molina-Azorín, J., J. Tarí, J., Claver- Cortés, E. and D. López-Gamero, M. (n.d).
Quality management, environmental management and firm performance: A review
of empirical studies and issues of integration. International Journal of Management
Reviews (2009)
8. Hanson, J., A. Melnyk, S. & J. Calantone, R. (2004). Greenleaf Publishing.
Michigan State University, USA Commented [N.V.48]: Title?
9. Hitchens, D., Thankappan, S., Trainor, M., Clausen, J. and De Marchi, B.
(2004). Environmental performance, competitiveness and managemenet of
small businesses in Europe. Blackwell Publishing Ltd., Oxford, UK.
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11. J. Bourgeois, III J. Strategy and Environment: A Conceptual Integration. The
Academy of Management Review, Vol. 5, No. 1. (Jan., 1980), pp. 25-39
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Strategy. Office of Research and Development U.S. Environmental Protection
Agency Washington, D.C.
13. J. Stapleton, P. and A. Glover, M. (2001). Environmental Management Systems: An
Implementation Guide for Small and Medium-Sized Organizations. Glover-
Stapleton Associates, Inc., Grasonville
14. Kim, H., Lee, M., Lee, H. & Kim, N. (2010). Corporate Social Responsibility and
Employee–Company Identification. Journal of Business Ethics (2010)
15. Kolk, A. and Mauser, A. (2001). The evolution of Environmental Management:
From stage models to performance evaluation. Business Strategy and the
Environment, 11, (2002)
16. L. Hass, J. Environmental (Green) Management Typologies: An evaluation,
operationalization and empirical development. Business Strategy and the
Environment, Vol. 5, 59-68 (1996)
17. Lankoski, L. (2000). Determinants Of Environmental Profit; An analysis of the
firm-level relationship between environmental performance and economic
performance. Helsinki University of Technology Institute of Strategy and
International Business. Finland
18. M. Rugman, A. & Verbeke, A. (1998). Corporate Strategies and Environmental
Regulations: An Organizing Framework. Strategic Management Journal, Vol. 19,
No. 4, Special Issue: Editor's Choice. (1998), pp. 363-375.
19. Maier, S. & Vanstone, K. (2005). Do good environmental management systems
lead to good environmental performance?. Ethical Investment Research Services
(EIRIS) Ltd. London, England
20. Mishra, S. & Suar, D. (n.d.). Does Corporate Social Responsibility Influence Firm
Performance of Indian Companies?. Indian Institute of Technology Kharagpur,
Kharagpur, India
21. OECD (2001). OECD Environmental Strategy for the First Decade of the 21st
Century. Organisation for Economic Co-operation and Development. (sine loco)
22. Oktem, U., Lewis, P., Donovan, D., R. Hagan, J. and Pace, T. (2004). EMS and
Sustainable Development; A Model and Comparative Studies of Integration.
Greenleaf Publishing, 2005.
23. Oliviera Matias, J. and A. Coelho, D. (2002). The integration of the standards
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Pollution Engineering, July 2009
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Art In Corporate Environmental Management Systems. Greenleaf Publishing
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622
29. Wikipedia, (2011). Corporate social responsibility. Available at: Commented [N.V.49]: Avoid Wikipedia for definitions of
terms (like corporate social responsibility).
http://en.wikipedia.org/wiki/Corporate_social_responsibility (Accesed at
20.04.2011)
See the Guidelines:
Feminism. (n.d.) In Encyclopædia Britannica online. Retrieved March 16, 2009, from
http://www.britannica.com

Corrected version:
Corporate social responsibility. (n.d.) In Wikipedia. Retrieved April 20, 2011, from
http://en.wikipedia.org/wiki/Corporate_social_responsibility

30. Wikipedia, (2011). Environmental Management. Available at:

http://en.wikipedia.org/wiki/Environmental_management (Accessed at
20.04.2011)
31. Wikipedia, (2011). ISO 14000. Availabe at:
http://en.wikipedia.org/wiki/ISO_14000 (Accessed at 20.04.2011)
32. Wilson, C., Smith, B. and Dunn, P. (2007). A Guide to Developing a Sustainability
Strategy and Action Plan. Sustainable Homes Ltd
33. Wilson, S. (n.d). Develop an Environmental Management Strategy; Teacher and
Student resource kit. Australia