In recent years and mostly during the last two decades, the decisive role of the environment in the business administration field and business life in general has emerged. In the modern, fast changing, and highly competitive business environment, and even more so in the context of the recent economic crisis, businesses constantly struggle to survive, trying to resolve problems and improve their performance and competitive advantage. Therefore, they must save and invest substantial sums of money to build strong infrastructure, to change procedures, and to produce environmentally friendly products. In view of the above, the current study attempted to examine the impact of environmental strategy on the growth of medium and large enterprises in all sectors in Greece, in a period of economic crisis. The study, carried out in February and March 2018, confirmed the positive correlation and the critical role of environmental strategy in the financial performance of Greek enterprises during this period of economic recession. Both eco-efficient practices and innovative practices lead to the creation of competitive advantage and, thus, to the improvement of the financial performance of a firm.

This study investigates the relationship between organizational culture and corporate sustainable development (CSD).Organizational culture is measured based on the four types of culture of the competing values framework: i) clan, ii) adhocracy, iii) hierarchy and iv) market type, while CSD was examined as a construct of i) economic, ii) environmental and iii) social dimension. The survey on medium-and large-sized firms in Greece reveals that adhocracy and hierarchy type of organizational culture have a significant effect on CSD. Specifically, adhocracy type is positively related to the environmental dimension of CSD, while hierarchy type is positively related to the economic dimension of CSD.