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International Review of Research in Emerging Markets and the Global Economy (IRREM)
An Online International (Double-Blind) Refereed Research Journal (ISSN: 2311-3200)
2019 Vol: 5 Issue: 1
1296 www.globalbizresearch.org
Green Market Economy and Emerging Market Environment:
Sustainable Adaptive Complex Systems
Siribuppa U-tantada,
Business Administration Faculty,
Rajamangala University of Technology Phra Nakhon, Thailand.
E-mail: siribuppa.u@rmutp.ac.th
Maurice Yolles,
Centre for the Creation of Coherent Change & Knowledge (C4K),
Liverpool John Moores University, England.
E-mail: prof.m.yolles@gmail.com
Bahaudin G. Mujtaba,
Nova Southeastern University, Florida, USA.
E-mail: mujtaba@nova.edu
Ampon Shoosanuk,
School of Business Administration,
Bangkok University, Thailand.
E-mail: ampon.s@bu.ac.th
Tuomo Rautakivi,
Faculty of Social and Political Sciences,
Jenderal Soedirman University, Indonesia.
E-mail: t.rautakivi@finlandconsul.or.th
Abstract
The green market economy (GME) refers to a global economic condition able to contribute
constructively to economic, social and environmental development and sustainability. Here a
model of GME will be developed using cultural agency theory, thus representing it an
adaptive complex system. This economy develops through the involvement of a plurality of
organizations that include the World Bank, the World Trade Organization and commercial
agents interacting in an emerging market environment that is able to support sustainable
(economic, social, environmental) development goals. The modeling process offers a general
theory of the green market, and is composed of core substructural axiomatic theory, and
subsidiary testable supersystem theory. Formulating green theory as a core set of
propositions that is accepted as defining a living adaptive substructure, a green
superstructure will be built and tested empirically in order to fill gaps identified for GME in
achieving its UN-DESA goals. The outcome demonstrates the validity of creating a green
market economy.
___________________________________________________________________________
Key Words: Green market economy, Market cultural agency, Developed and developing
countries, Cultural agency theory, Sustainable development goals
International Review of Research in Emerging Markets and the Global Economy (IRREM)
An Online International (Double-Blind) Refereed Research Journal (ISSN: 2311-3200)
2019 Vol: 5 Issue: 1
1297 www.globalbizresearch.org
1. Introduction
Crises become accelerated in global contexts, for instance with respect to climate,
biodiversity, fuel, food, water, and of late the financial system and the economy. The world
economy struggles to recover and grow in its attempt by both governments and the private
sector to make a transition to a green economy in time to engage these challenges. Green
economy is relevant to all economies, be they state or more market-led. Investing in a green
economy enhances long-run economic performance and can increase total global wealth (e.g.
stocks of renewable resources, reducing environmental risks, and rebuilding capacity to
generate future prosperity), according to the macroeconomic model given in the Green
Economy Report documents (UNEP, 2011). The United Nations Sustainable Development
Goals (SDGs) of the World Trade Organization (WTO) should be achieved by 2030, aimed at
fostering stable, predictable and equitable trading relations across the world (WTO, 2018).
According to the Sustainable Development Solutions Network (SDSN, 2018), the universal
agenda should be implemented by all countries to achieve the SDGs by 2030.
The utility of the green market (-led) economy (GME) can be explained with reference to
the set of 17 Goals of the United Nations-Department of Economic and Social Affairs (UN-
DESA, 2015). These goals embed values that demonstrate that they arise from a cultural
position. They also give an awareness of the global economic condition that can contribute
constructively for economic improvement, social and environmental growth and can be
distinguished as three elements:
(i) poverty and hunger elimination and the sustainability of decent work – an
economic element (Goals 1, 2, and 8);
(ii) human wellness that includes healthiness and well-being, equitable lifelong
learning, gender equality, equal access to affordable and clean energy; and
social wellness with sustainable innovative infrastructure and
industrialization, with equality within and among countries, sustainable
cities and communities, peaceful, justice and strong institutions, and
global partnerships for “sustainable development” – a social element
(Goals 3, 4, 5, 7, 9, 10, 11, 16 and 17);
(iii) environmental responsibility including clean water and sanitation,
responsible consumption and production, the combating of climate
change, security of life below water, and life on land – an environmental
element (Goals 6, 12, 13, 14, and 15).
However, to function adequately, a GME requires world political leaders, civil society and
leading businesses to collaboratively engage in the transition, and the addition of a sustained
effort on the part of policy makers and their constituents to rethink and redefine traditional
International Review of Research in Emerging Markets and the Global Economy (IRREM)
An Online International (Double-Blind) Refereed Research Journal (ISSN: 2311-3200)
2019 Vol: 5 Issue: 1
1298 www.globalbizresearch.org
measures of wealth, prosperity, and well-being. Moves toward the GME may also be difficult,
for instance where political administrations have policy ambiguities due to a lack of political
administrative coherence, typified by the notion of “joined up governance” (Klievink &
Janssen, 2009). This can be shown in the case of China, for instance. On the one hand the
country is currently pioneering a new sustainable development model, formally accepted in
2002, which can over-come current environmental and resource management problems while
achieving improvements in resource productivity and eco-efficiency (Geng and Doberstein,
2008). However, there is a controversial policy implication for the Chinese government where
they place more reliance on technological progress than on the need to pay more attention to
regions and provinces in relation to the impact of industrial structure and energy consumption
structure concerning a long-term low-carbon economy technology and the sustainable
development (Pan, Pan, Hu, Tu, Zhao, Yu, Xiong, & Zheng, 2019), relevant to the GME.
There are issues that require attention for GME. As in emerging markets, emerging
economies or developing countries tend to be insufficiently sophisticated in green market
practices, and as such the green economy concept has failed as have other resource
management reforms of the past, for instance in Indonesia, with uncertain markets and
globally, and that have ignored political and economic possibilities (Castree, 2008; Swainson,
& Mahanty, 2018). An effective green economy model is also inadequate because it ignores
the complexities of dealing with conflicts; tradeoffs and power struggles that it seeks to
change (Swainson & Mahanty, 2018). Funding bodies, top private companies are more
reluctant to invest, posing a fundamental resourcing problem for the early stages of green
economy reforms (Swainson & Mahanty, 2018). Overall, the 2018 Green Economy Report
(SDSN, 2018) found that no country is on track to achieve all the Sustainable Development
Goals, and progress is slowest on the environment-focused goals.
The process of achieving the SDGs requires a capacity for the GME to adapt to complex
changes affects its longer-term viability and sustainability that can be modeled through
cultural agency theory representing an adaptive complex system to explore both its internal
and external dynamics. It involves a plurality of governmental and commercial agents
interacting in emerging market environment to be tested empirically. Since the green
economy is a complex cultural phenomenon, it can be modeled as complex adaptive cultural
agency and analyzed using adaptive complex systems theory (Yolles, 2006). So, a durable
GME should be seen as cultural entity, enabling the use of Cultural Agency Theory (Yolles,
1999; 2006; 2018; U-tantada, Yolles, Mujtaba, & Shoosanuk, 2019).
CAT defines agency as process-intelligent, autonomous, self-directed living system, able
to recognize its participation in interactive environments. Agency has its own internal
dynamics that affect market environments during interaction. It is comprised of three
ontologically distinct systems that are related, and which permit self-reflective focusing on
International Review of Research in Emerging Markets and the Global Economy (IRREM)
An Online International (Double-Blind) Refereed Research Journal (ISSN: 2311-3200)
2019 Vol: 5 Issue: 1
1299 www.globalbizresearch.org
socio-cultural attributes. These are connected through process intelligences that define its
living system nature. Its construction is through a substructure that reflects a set of axioms
that enable it to respond to complexity while being able to adapt to changes thereby maintain
viability, and a superstructure which permits testable propositional constructs to be built
within it. These systems have the capacity to anticipate potentials that can maintain integrity,
identity, and autonomy through principles of communication and cybernetics control process)
(Yolles, 1999; 2006; 2018).
The green market economy (GME) model, built through CAT, can be used as a diagnostic
tool for the purpose of examining the state, or for locating problems within the agency
and within its environment. The diagnostic tool is also used to locate sub-structural
pathologies or any combinations (e.g. attributes that include a capacity for sustainability and
adaptability) in a system, or a network of the green market economy (GME) environment that
it is interacting in. The interaction is determined by both the agency's external and internal
attributes and constraints. These may include behaviors for other interactive agencies. Internal
attributes include immanent dynamic "self" processes that drive agency change enabling it to
maintain its viability. Within the superstructure, the diagnosis operates on
signatures generated at output of each particular dynamic of the sub-structural (generic)
model. This diagnostic and analytic tool provides solutions to green market economy, related
strategic agencies in its (focused emerging market) environment e.g. the World Bank, WTO,
and involved agencies as a whole in order to resolve issues within the frame of Sustainable
Development Goals. Hence, this paper will model and analyze GME (as a cultural entity)
through CAT, thereby filling the gaps identified for GME in achieving its UN-DESA goals.
As indicated in the literature on the international equity-based entry mode strategies of
emerging market multinationals, there is a need to understand the performance implications of
international entry mode strategies and the resource differences with different levels of
institutional development to be addressed empirically (Surdu, Mellahi, & Glaister, 2018). An
emergent diagnosis of a GME environment (i.e., a zone of behavior) and the unpredictable
changing dynamics of globalization in strategic agencies (such as the World Bank, the World
Trade Organization, emerging markets, purchasing and supplier development, and more
major companies) are needed to create a clearer picture of complex changes, challenges and
threats. The GME is required to make its self and emerging markets more resilient, and also
businesses more successful and the agency model will be developed to facilitate this.
Complexity exploring the positive effects of the green economy can provide understanding of
the complex challenges and opportunities in systems and their linkage to transitions toward
innovatively sustainable business models that are capable of functionality in this context
(França, Broman, Robèrt, Basile, & Trygg, 2017).
International Review of Research in Emerging Markets and the Global Economy (IRREM)
An Online International (Double-Blind) Refereed Research Journal (ISSN: 2311-3200)
2019 Vol: 5 Issue: 1
1300 www.globalbizresearch.org
This article presents an in-depth exploration of the GME through the use of CAT, which is
able to explore the nature of the emerging market environment. It is based on a grounded
theory, can support a business model proposed for valid and reliable awareness building, and
have the potential to provide a valuable opportunity to grasp how the strategic GME and
emerging market superstructure can be merged to the advancement of sustainable
development goals. A theoretical framework model will be provided which explains our GME
modeling approach. It involves modelling GME as a cultural agency by adopting a market-
based approach and exploring GME in emerging market environment which includes strategic
agencies. According to the literature review, it is structured as following five sections: (2.1)
cultural agency as green market economy; (2.2) green market economy as a model of the
market-based approach; (2.3) the green market economy as a living system; (2.4) strategic
agency in GME’s emerging market environment; and (2.5) CAT model of green market
economy and emerging market environment.
2. Literature Review
2.1 Cultural agency as green market economy
With the rapid development of economic, social and environmental perspectives and the
complex changing business environment, green market economy (GME) can usefully be
formulated as a superstructural model within CAT substructure (Yolles, 1999; 2006; 2018).
CAT is a cybernetic living system paradigm that models complex adaptive systems
focusing on socio-cultural dimension (Dominici & Yolles, 2016; Guo, Yolles & Di Fatta,
2017; Yolles & Di Fatta, 2017; Yolles, 1999; 2006; 2018). Its substructure includes a
metasystem that operates through cybernetic principles constituted as an autonomous
culturally based "living" social system. One can build within this; a superstructure is defined
through a set of testable propositions that can respond to the needs of complexity which is
susceptible to detailed situational analysis possible.
Superstructural theory is formulated in agency as a metasystem by embracing Bandura’s
(2002) socio-cognitive theory. This includes attributes such as collective identity, cognition,
emotion, normative personality, common purpose and intention, and collective self-reference,
self-awareness, self-reflection, self-regulation, and self-organization. Agencies also interact in
a behavioral environment with other entities that include other agencies (Yolles, 2006). The
approach is also capable of delivering diagnosis of issues that need to be resolved (Figure 1).
This is a substructural “metasystem” that explains agency behavior in its environment. It
includes a cultural system which is the repository of such attributes as knowledge and
identity, the personality system (a term originally adopted to explain collective agencies
operating through norms: Guo et al., 2016) which is a strategic system for the agency, and
an operative system which facilitates behavior occurring in an environment. These are
International Review of Research in Emerging Markets and the Global Economy (IRREM)
An Online International (Double-Blind) Refereed Research Journal (ISSN: 2311-3200)
2019 Vol: 5 Issue: 1
1301 www.globalbizresearch.org
connected by process intelligences that facilitate living system properties dependent on its
process intelligences, concepts to be returned to shortly.
Figure 1: CAT Substructural System Model (Yolles, 2016)
A GME cultural agency theory will include an integrated green economy-wide economic
plan covered investment and production decisions, with involvement by the world trade
organization (for central green planning and for balanced market development), this limiting
market freedom at times by balancing competition and preventing monopolies. The collective
interactions of individual citizens and businesses seek their own sustainable advantages. It
allows economic laws of supply (e.g. natural resources, capital, labor) and demand (purchases
by consumers, businesses, government) to direct the sustainable production of goods and
services; the free interplay of supply and demand in order to achieve social aims; the
sustainable production of the most desired goods and services in the most efficient way
returning a profit; innovation in creating new products; and knowledge management of the
most successful businesses that investing in top companies for sustainable quality production.
It acts to improve human wellbeing and social equity while at the same time reducing
environmental risks and ecological scarcities. It covers low carbon, resource efficient and
socially inclusive which is under policy makers’ conditional set on increased investments in a
transition to a green economy (UNEP, 2011). In short, sustainable development is applied
into economies which relate to the study of how people use their resources under limitations
to satisfy unlimited demands of them (McTaggart, Findlay & Parkin, 1992), as an agency in
CAT.
The concept of a “green economy” does not replace the idea of sustainable development,
but there are strong links between the themes. Green economy is connected to: (1)
environmental dimension issues (e.g., climate change, renewable resources, energy, natural
capital); (2) economic dimension aspects (e.g., development, growth, cost, or
International Review of Research in Emerging Markets and the Global Economy (IRREM)
An Online International (Double-Blind) Refereed Research Journal (ISSN: 2311-3200)
2019 Vol: 5 Issue: 1
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competitiveness); and (3) social dimension which is related to governance that support the
concept of green economy. Also, in practice “tools” are used to assess and monitor the
implementation of green economy (Loiseau, Saikku, Antikainen, Droste, Hansjürgens,
Pitkänen, Leskinen, Kuikman, & Thomsen, 2016). These are based on clear rules and a legal
framework establishing and enforcing property rights, and the “rules of the game,” for
citizens, business, government, and civil society in free market system (CED, 2017). These
result in rising wages, increasing benefits to trading partners, the supply of almost whatever
anyone wants, rewarding of innovators and benefiting consumers, stopping failed businesses
while economic growth is accelerated, matching sellers and buyers, keeping price low, price
signaling work, and free working (Dorfman, 2016).
Consequently, to achieve the SDGs empirically, the CAT model needs to embrace the
concept of an adaptable complex GME as it interacts with its emerging market environment.
2.2 Green market economy as a model of the market-based approach
GME is applied to be a basic model of market-based strategy to maximize returns that
arise out of sustainable strategic management. Porter (1980, 1985) explained that in order to
be a market leader in both cost and differentiation market-based strategy requires knowledge
management in order to compete for resource through competitive advantage, resulting in
superior performance (Porter, 1985). Thus, GME has primary forces that determine agency
competitiveness: the bargaining power of customers, the bargaining power of suppliers, the
threat of new entrants, and the threat of substitute products – which combine to create a level
of competitive rivalry in an industry. This orientation towards the external environment does
little to address the capability of an organization to develop its own internal processes.
Traditional modeling approaches are incapable of adequately recognizing the nature of a
competitive external environment, let alone creating a sustainable strategic advantage where
cooperative groups survive better than those who operate non-cooperatives (Nash, 1996). This
issue can be remedied by approaches like that of CAT. Brandenburger & Nalebuff (2002)
added a cooperative component to Porter’s 5 forces model (Porter 1980, 1985) as 6 forces,
explaining the basis for the development of strategic alliances in a competitive environment.
And Porter’s five forces are essentially: (i) possible entrance of competitors, indicating the
problems of, and barriers to market entry, (ii) threat of substitutes, indicating the problems of
and barriers to product or service substitution and price adjustment, (iii) power of buyers,
indicating the strength of position buyers have in a market, and exploring the option of
volume transactions, (iv) power of suppliers, and what potential competitor suppliers may
enter the market, (v) Rivalry in the market, indicating if there is already strong competition
and what their characteristics might be (Guo et al., 2016).
Thus, within the context of agency, the six forces are seen as relevant to a competitively
external environment, enabling the creation of sustainable strategic advantage. When green
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(environmental or ecological) marketing is incorporated into a broad range of activities,
including product/service modifications, production process changes, packaging changes, and
green advertising which is modified to ensure that the interests of human consumption in
society, economy and environment are protected as mutually benefit at minimizing
environmental harm (Polonsky,1994).
Modeling GME as a living system allows it to be recognized as a self-aware and strategic
entity which is knowledgeable and it invests in continual reflection, self-evaluation and self-
assessment. It is also an organic (i.e., constituting an integral part of a whole with interrelated
parts) involving process intelligence that is fundamental to its capacity to adapt, and engaging
third order cybernetics that draws on the notions of viable systems (Yolles, 2018). As such it
is interested in understanding and dealing with its own pathologies (ill-health). It also requires
some collective cognition to distinguish attributes of cultural knowledge, to efficiently and
effectively discriminate, relate, manipulate and apply that knowledge into a variety of
environments, and to operate viably sustainable operations (Yolles, 1999; 2006; 2018).
Knowledge management can provide an effective strategy to create competitive power by
robustly linking core competencies. It depends on management’s ability that fosters learning,
knowledge creation, knowledge sharing and the use/re-use of agency and personal knowledge
in working improvement in the pursuit of new business and corporate goals (Furlong, 2005;
Yolles, 1999; 2006; 2018). Knowledge management, a rich asset of ideas and practices
involving trust and mutual confidence through transparency, communication, and ethical and
lawful behavior, is connected to political power balances and changes in GMEs. Power
relationship collaboration can shape the political dynamics of the cultural agency, GMEs to
be accepted rather than rejected by individuals, groups, and coalitions. Intrinsic and extrinsic
knowledge processes occur, and they affect the way that an agency interacts with other
organizations in its environment. This is because it is concerned with knowledge and
cybernetic processes that are surrounded in communications contributing created information.
Within GME, data communications have to be developed to enable its operation to be
cohesively and viably maintained through cybernetic principles, so knowledge needs to be
“knotted” before facing knowledge migration problems (Guo et al., 2016; Yolles, 2006). Due
to “knotted’ knowledge creates good standing and gains positive attitude in the perception of
customers, the acquisition and dissemination through innovation process (Verona, 1999),
connected to organizational learning (Calantone, Cavusgil, & Zhao, 2002), and creating
powerful value and sustaining competitive advantage in highly complex and dynamic
environments take place (Tellis, Prabhu, & Chandy, 2009; U-tantada, et al, 2019).
Apart from data communications within GME, all social communities are effectively joint
alliances between people, using and team-building approaches to develop systems of
communication that can establish coherent communication processes. Its linkage of social
International Review of Research in Emerging Markets and the Global Economy (IRREM)
An Online International (Double-Blind) Refereed Research Journal (ISSN: 2311-3200)
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collectives with political management within GME is intensely political. With political
management being central to social communities in that, it contributes to the possibility for
individual liberation. Communities (like nations, economies, corporations, public and private
organizations, and networks of alliances) development can be seen as a web of political
partnerships. Power processes are also used to shape structures, manipulate information, and
influence the way that people behave signified by their comprehensible web partnership
collaboration (Yolles, 2006; 2018).
Thus, a set of political management processes in GME is needed to help each partner to
take control of its professional sustainable development (Guo et al., 2016; Yolles, 2006), and
to stay connected in a digital era of networking and social learning. This can help leaders be
interested in sustainability to improve GME’s working behaviors where personal,
professional, or organizational objectives are successfully achieved. These also impact on
others (Mujtaba & Cavico, 2016; Mujtaba, Cavico, Senatip, & U-tantada, 2016). It also
contributes to the possibility for individual liberation and the development of the social
community itself in emerging market environment due to leaders pursuing sustainable and
good governance can use power to control others when necessary or when possible to
empower people in different ways (Guo et al., 2016; Yolles, 2006). For this reason, GME
human resource requires sustainable or transformational leaderships in the proper political
culture must be equipped with accountability on sustainable development perspectives, legal,
ethical, morale and operational values to drive intelligent GME viability and sustainability for
being an effectively dynamic viable system linked to its emerging market environment.
2.3 The green market economy as a living system
Our interest here lies in representing the GME as a living system that self-produce
performance. Such a model is already offered by Yolles (2016), who explains that a market
economy can be distinguished ontologically into a marketing cultural system, a strategic
(regulative) business system and an operative financial system (Figure 2), and while the
original model interests in the self-production of wealth, here the adjusted model has interest
in the self-production of performance. The system can live since it has operative and
figurative intelligences that enable it to maintain its autonomy and adapt. Like wealth
production, performance production is an autonomous instrumental process of the market
economy that occurs when the potential trajectory in the strategic system for creating generic
rules are selected and manifested in the operative system, resulting in a particular style of
operative transaction and a particular structure for performance production. This style and
structure are ultimately guided by the market cultural system.
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An Online International (Double-Blind) Refereed Research Journal (ISSN: 2311-3200)
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Figure 2: Model of the Marketing System based on Strategic Business System Processes and
Operative Financial System structures, adopting the proposition that with a cultural market
system a living socio-economic market system arises. (Source: adapted from Yolles, 2016)
Self-production (of wealth or
performance) through operative
intelligence
Operative system This operates through
the actualisation of the
regulative processes of
the business system that
structure behaviour
Strategic
system This is based on regulative
specifications and the
figurative identification of
hierarchy-market
relationships and potential
for bundles of rules
Self-production adjustment
through operative
intelligence feedback
Market
Cultural system
Provision of background
attributes.
Creates a basis for the
development of a market
economy, through values,
beliefs, and cognitive/
behavioural norms.
Self-creation through
figurative intelligence
through
Self-creative adjustment through
figurative intelligence feedback
Instrumental
couple
Living systems have properties of purposefulness and consciousness, so can we attribute
this to the market economy? Purposefulness and consciousness occur in social systems
through the people who come together to create system, so they cannot be attributed to an
emergent system such as this one, unless through some concept of collective consciousness
by of its membership, or as a metaphor. Nor can we discuss the market economy as though it
has interests and decision-making capability that would be attributable to managed agencies.
Unless they are attributed to its collective membership, in particular, the market economy is
an emergent agency resulting from the complex processes of the business system.
A living system should be seen as an adaptive activity system which has a variety of “self”
properties, like self-motivation and self-organization. Its properties include complexity,
openness, self-organization, and interactivity with its environment through exchanges of
information and material-energy (Goldspink & Kay, 2003). An adaptive activity system has a
plural social membership of agents that also have adaptive capacities, conditions, or state of
acting or of exerting power (Bandura, 2001). Considering GME agency is as a macro or
whole agency with a membership of agents that are micro entities some of which are
collectives acting as micro agencies, and strategic relationships emerge from the interactions
between the micro agencies and other agents that influence behavior.
Modeling GME in this way enables the exploration of predefined contexts relating to the
development of performance when dealing with the emerging market environment globally
that covers strategic agencies involved with e.g. the World Bank, WTO, emerging market,
International Review of Research in Emerging Markets and the Global Economy (IRREM)
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purchasing agency, supplier agency, and top company when interacting each other in order to
know well about how these agencies have made significant contributions to the global
economy in recent years. A qualitative modeling approach provides succinct explanations
which is based on CAT. This is applied into a durable GME that interacts with a emerging
market environment globally, and as it does it brings awareness to all involved agencies in
sustainable adaptive complex systems as in figure 3.
2.4 Strategic agencies in GME’s emerging market environment
A global emerging market environment cannot only be interlinked with GME but also
other market-led agencies like the World Bank, the World Trade Organization, and other
elements that are relevant to the CAT model (Figure 3):
The World Bank
The agency struggles for better living standards of people in the developing world by
providing low- or no-interest loans, policy advice, technical and knowledge sharing
assistance to low- and middle-income countries in order to create jobs and
opportunities to renovate the education, healthcare, transport, communication,
agriculture sector health, public administration, infrastructure, financial development,
and environmental and natural resource management for economic, social and
environmental growth (Griffin, 2006; Ferrieres, 2017). Under countries’ structure
change of industrial development strategies around cheap carbon-based energy is
accompanied by active labor market policies of green growth policies on green jobs’
environmental services (Bowen, 2012).
The World Trade Organization (WTO)
WTO focuses on the commercial and international trade policies and rules. At its
heart, the WTO agreements are negotiated and signed by the bulk of the world’s
trading nations and ratified in their parliaments, in order to reach the goal to ensure
that trade flows as smoothly, predictably and freely as possible. It has a crucial role to
accelerate progress in achieving the United Nations Sustainable Development Goals
(SDGs) to be achieved by 2030 by fostering stable, predictable and equitable trading
relations across the world in promoting sustainable development (WTO, 2018). WTO
acts as central government for central planning that can limit occasionally market
freedom in order to help balance competition, and prevent monopolies by enforcing
environmental protection proprietary laws, balanced budget laws for market
development, and pressing through the International Financial Institutions (IFI) for
international acceptance (Konov, 2013). The fair competition is a heart of the market
operation. It does not only foster innovation, productivity and growth, but also reduce
poverty. Significantly, competitions on equal terms, same rules and conditions are
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applicable into all participants in emerging markets due to provide lower consumer
prices, technology and innovation improvement, customer choices, service qualities,
and information (Godfrey, 2008). An external change agent, WTO as an important
means of steering business agencies in developed and developing countries onto more
sustainable pathways, external change agents’ conditions are used to most effectively
overcome organizational path dependencies (Hoppmann, Sakhel, & Richert, 2018).
Emerging Market Agency
This agency is for emerging economies or developing countries that become more
advanced with rapid growth and industrialization determined through many socio-
economic factors. These countries experience an expanding role both in the world
economy and on the political frontier, where the autonomous development of its own
functional future (Dominici & Yolles, 2016). Taking advantages of the growth in
market opportunities (Kohli & Jaworski, 1990) provides negotiations through
dynamic processes of multilateral communication (Dominici & Yolles, 2016).
Purchasing Agency
This agency is associated with large size organizations, namely: government and
public-sector agencies. They can be deployed in a variety of ways rather than merely
through raw bargaining power. The potential contribution of purchasing professional
services supports innovations, offers insights on aspects to be considered to increase
potential innovation outcomes, and draws attention to the strategic role of purchasing
agency (D'Antone & Santos, 2016). The contexts of emerging markets, the market-
shaping behavior of a buyer, can be very diverse and include internal actions as well
as actions aimed at influencing other market actors. Buying corporations do not
simply adjust their own purchasing processes according to existing offerings, but
actively attempt to drive market evolution in particular directions with the five market
process elements: supply-shaping perceived by the industry supply; demand-shaping
referred to competitors' use of the same component (sign of quality or trade secret
risk); need-shaping based on existing offerings or own system requirements by
communicating the need to the potential suppliers; exchange object-shaping referred
to the product and associated services through characteristics of component or
through solution. As a result, a joint understanding with seller; and exchange
mechanism shaping are defined as the nature of the exchange mechanism in order to
manage the supplier relationship (Ulkuniemi, Araujo, & Tähtinen, 2015).
Supply Agency
The agency runs its business with sustainable management of its primary and support
activities to provide values to not only an organization, itself but also to society and
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the economy by considering environmental, social, ethical, and economic issues of
external resources in a way to supply all goods, services, capabilities and knowledge.
Trust exists between the supplier and the client, business associations and
government-backed sources (Bennett & Robson, 1999). Johnsen, Miemczyk, &
Howard (2017) studied sustainable purchasing, supply management with customer-
supplier interaction processes, relationships and networks, sit on a significant
proportion of sustainable purchasing, and supply management articles developed over
time by adopting stakeholder, institutional and resource-based theories as their
primary perspective. Gaining considerable attention among organizations all over the
world and organizations, supplier selection is strategically important as it can
determine the organization's success in achieving goals of adopting green practices.
For top enterprises, the challenge is to select suitable suppliers among many suppliers
to realize their goals of greening the supply chain of SMEs. SME green innovation
ability that is under a framework for supplier selection by large organizations, the
suppliers consequently organizations can reproduce the proposed framework for
supplier selection for their new product range (Gupta & Barua, 2017). Because
institutional network relationships have a positive effect on the internationalization
process of GME, it provides insights into GME’s awareness of, access to, and actual
use of the resources available through institutional networks. These are incentives or
restrictions for entrepreneurial activities in foreign markets (Oparaocha, 2015).
Mostly technical and process collaborations are aimed at business expansion and
increased profitability for the collaborating partners (Huggins, Johnston, &
Thompson, 2012). Given these widespread effects, it is not surprising how well
purchasing agencies collaborate with top and small business agencies to implement an
array of environmentally responsible practices and policies in pursuit of SDGs’
achievement.
Big Business (Big Business, 1905)
This agency is defined as an economic group consisting of large profit-making
corporations especially with regard to their influence on social or political policy for
building up strong structures of economies and other forms of material wealth with
financial systems of environment (Yolles, 2016). They are subject to more stringent
regulations by the parent company and providing more extensive environmental
information than local companies (Ghazilla, Sakundarini, Abdul-Rashid, & Yusoff,
2015). Yaprak, Tasoluk, & Kocas (2015) have shown that eastern and western-based
organizational contexts in emerging markets move toward a more market-driven
form. It makes competition irrelevant by looking across substitute industries by
perfect integration of the core functions of many product categories into a single
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device, and by looking across complementary product and service offerings by
relying on a platform mounted on its other devices that brought together a broad
ecosystem of developers for its products (Giachetti, 2018). Thus, encouraging
facilitative leadership, advanced learning, innovation and adaptation (Fey & Denison,
2003); and paralleling developed world counterparts (Baker & Sinkula, 1999), skills
in market-sensing, customer linking, and channel-bonding to distribute superior
customer value (Day, 1994) are needed because goods for brand-hungry middle
classes (Kravets & Sandikci, 2014) and more market responsive strategies (Khanna &
Palepu, 2010) can fulfil EM of GME’s environment. Thus, green market orientation
and market orientation, organization’s cultural attributes disseminated to be market-
led strategies for tactic behaviors in all functions of GME when dealing with
emerging market environment require persistent time and effort to sustain greater
customer satisfaction and loyalty by all countries to achieve the SDGs by 2030
(SDSN, 2018).
Opening in international market, especially to developed countries that have strict
environmental regulations (Ghazilla, et al., 2015) makes emerging market (EM) have to
adjust its operating within an industry with technologically advanced suppliers, as a result
they will improve higher innovation potential (Lecerf, 2012). Serving green value of top
companies in competitively complex environment is to find possible small partnerships in
SMEs that can promote a publically high impact on the environmental dimension (Schaper,
2002). Small companies’ constraints in financial, managerial and human resources, internal
know-how (Williams & Schaefer, 2013), and lack of managerial awareness regarding energy-
related patterns (Gillingham & Palmer, 2014) can be solved by collaborated with top
companies to enable them to mitigate their collectively high environmental impact while
generating financial savings (Richert, 2017); to leverage international opportunities and
alleviate risks, competition, and international business frontiers (Bretherton & Chaston,
2005).
2.5 CAT model of green market economy and emerging market environment
The GME model that results in Figure 3 presents the relationship between self-processes
of green market economy agency (GME) dealing with emerging market environment (EME)
as key opportunities to make a transition for long-run performance in developed and
developing countries in order to increase sustainable wealth creation.
This strategic GME agency model is a CAT representation which consists of: (1) a cultural
system; (2) a normative personality system; and (3) an operative system. The three systems
have their own dynamically intelligent networks of processes called “Figurative intelligence”
(Autogenesis or self-creation) and “Operative intelligence” (Autopoiesis or self-production)
that link the three generic representations of GME. “Figurative intelligence” is a learning
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attribute that provides core relational explanations of reality due to interactions with its
environments and their knowledge processes (Yolles, 2006) through feed-forward processes
such that attributes can be processed for operative action to manifest figurative/strategic
attributes of personality, influencing behaviors. While “operative intelligence” is an
instrumental attribute creating an operative couple, which is located between the figurative
and operative systems (Maturana & Varela, 1987; Schwarz, 1997) with assigned cultural
significance. Behaviors, operational codes, implementation systems, own laws and regulation
originate within an environment, populated by objects created by agencies--how a living
(social) system – self-produces. Feedback processes create imperatives for adjustment issues
in doing this (Yolles, 2006).
The intelligent networks of processes are developed through the cooperation of various
departments and individuals to "interpret" cultural attributes e.g. values, norms, beliefs and
meaning connected to knowledge, green market orientation (GMO), market orientation
(MKO1) from which context sensitive information in cultural system that can be delivered to
strategic or personality system which functions as part of agency that originate in the cultural
system.
Fig. 3: A model of green market economy dealing with emerging market environment
(Created by authors)
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Both GMO and MKO1 are located in organizational culture for conducting businesses. The
organizational culture is defined as a complex set of values, norms, and symbols for business
operations (Barney, 1986). A core group of shared set of assumptions, norms connected to
knowledge, GMO, and MKO within the cultural system; and patterns of goals, ideology,
ethics, regulations within the strategic system, and behaviors of organizational actions e.g.
behavior-based market orientation and transformational leadership (or sustainable
leadership)-based organizational members in the operative system, can be predicted and
explained how organizational members share mentioned attributes and how develop at the
workplace when dealing with its environment within a cycle of organizational professional
development.
However, a sense of belonging of organizational culture in management and
organizational members should be made aware of the specific influence on the development
of mechanisms and subsequent useful feedbacks may help decrease the activation of their
own violations of moral disengagement in organization (Petitta, Probst, & Barbaranelli,
2017). Like the technocratic safety culture is achievement result-oriented and competition and
innovation focused, was opposite bureaucratic safety culture. That is technocratic safety
culture is revealed to greater violations of moral disengagement e.g. skipping safety steps,
underreporting and hiding errors, etc. (Petitta, et al., 2017)
While GMO is one of organizational culture attributes located in the cultural system with
green values and norms to be disseminated into the corporation strategy and its operation
truly in the cycle of a comprehensive eco-competitive beneficial advantage by changing in
product design, enterprise culture, and environmental impact analysis of enterprises, and ends
with the analysis of the competitive environment (Moravcikova et al., 2017). GMO (Papadas
et al., 2017) provides: (1) strategic green marketing orientation (e.g. making efforts to use
renewable energy sources for products/services; investing in low-carbon technologies for
production processes and in R & D programs in order to create environmentally friendly
products/services, using specific environmental policy for selecting partners, creating a
separate department/unit specializing in environmental issues for organization, participating
in environmental business networks, engaging in dialogue with stakeholders about
environmental aspect of organization; implementing market research to detect green needs in
the marketplace); (2) tactical green marketing orientation (e.g. encouraging the use of e-
commerce, because it is more eco-friendly; preferring digital communication methods for
promoting products/services; applying a paperless policy; using recycled or reusable materials
in products/services; absorbs the extra cost of an environmental product/service) and lastly (3)
internal green marketing orientation (e.g. acknowledging and rewarding environmental
behavior, environmental activities by candidates, creating internal environmental prize
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competitions, forming environmental committees for implementing internal audits of
environmental performance, organizing presentations on green marketing strategy for all,
encouraging employees to use eco-friendly products/services, and targeting environmentally-
conscious consumers). Also, MKO1 is a creation of value for customers, becoming a
longstanding and institutionalized culture (Narver, Slater, & Tietje, 1998) that covers
customer orientation, competitor orientation, and inter-functional coordination that originate
capabilities influenced solely by the organizational culture to place the highest priority on the
profitable creation and superior customer value to achieve ultimate goal of stakeholders,
profitability (Narver & Slater, 1990). MKO1 (Narver & Slater, 1990) can e.g. create customer
value; show commitment to customers; understands customers’ needs; meet customer
satisfaction objectives; conduct superior service; contribute values; share resources with other
business units; integrate functions into business strategy; share information among different
functions; discuss competitors' strategies; target opportunities for competitive advantage;
respond rapidly to competitors' action; and share competitor information. These attributes and
information are disseminated and transferred into strategic or normative personality system
and made them into cognitive attributes e.g. attitude, ideologies, goals, strategies, ethics, self-
schemas, and self-image (Guo et al., 2016; Yolles, 2006) under the network of process called
“figurative intelligence” in all functions. In order to continuously provide relevant and timely
goods or services within internal green practice and supplier management (Li, Ye, Sheu, &
Yang, 2018) in “the operative system,” under “operative intelligence” network of process for
its life-long demand agency.
Another meaning of market orientation (MKO2), a behavioral operationalization located in
operative system, reflects activities and a potential for behaviors of a GME to promote
improved customer value, especially on export customers, competitors, or environmental
changes in the market context. Kohli, Jaworski, & Kumar (1993) defined MKO2 as the
organization wide generation of market intelligence pertaining to current and future needs of
involving agencies, dissemination of intelligence within agency, and responsiveness by doing
something new or different for prior market-led opportunity. Within its intelligence
generation, intelligence dissemination, and responsiveness attributes, GME has to meet
involving agencies in its emerging market environment at least once a year to find out what
products or services they will need in the future, do a lot of in -house market research; detect
changes in involving agencies’ product preferences, poll end users at least once a year to
assess the quality of products and services; detect fundamental shifts in GME (e.g.,
competition, technology, regulation); periodically review the likely effect of changes in
GME’s business environment (e.g. regulation) on involving agencies, set interdepartmental
meetings at least once a quarter to discuss market trends and developments; marketing
personnel in business unit spend time discussing involving agencies’ future needs with other
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functional departments; know important happens to a major involving agencies in emerging
market environment about them in a short period. Thus, a coordination and responsibility
sharing are stimulated within overall departments’ functions to increase agencies’ superior
value in emerging market environment.
Closely linked to other human resource asset in operative system, transformational,
sustainable or effective leadership, is a critical attribute, as a driver of green market and
interdependent economy, to create positive value and to sustain that value-creation for agency
and its stakeholder within and as a whole emerging market environment to reach SDGs by
2030. Main responsibilities of transformational leadership (TFL) in GME’s all functions,
aware of legal, ethical, economic, social and environmental expectations with sustainable
values (Mujtaba, Cavico, Senatip, & U-tantada, 2016) empower the process of influencing
others’ behaviors and efforts toward a predetermined destination, while also providing an
environment where personal, professional, or organizational objectives can successfully be
achieved (Mujtaba et al., 2016). As influential role, TFL efficiently drives task-related team
processes of reflexivity and team performance e.g. effectiveness and productivity for
leaders and organizations (Lyubovnikova, Legood, & Mamakouka, 2017). Based on four
dimensions of TFL are: (1) self-awareness, understanding the world; (2) balanced processing,
relevant information analysis before decision making and soliciting matter’s views from
others; (3) internalized moral perspective, internal moral standards and values; and lastly (4)
relational transparency, driving personal disclosures to share information and express true
thoughts and feelings (Gardner, Avolio, Luthans, May, & Walumbwa, 2005). Instrumental
understanding of sustainability, TFL acknowledges the intrinsic value of sustainable behavior
e.g. sustainable resource use, conservation and preservation, rights-based perspectives, and
ecology (Schuler, Rasche, Etzion, & Newton, 2017) that can be applicable into ethics
orientated strategic business management of GME and also promotes this intrinsic value of
sustainable behavior, understanding sustainability of all human resources in globally.
As a result, the operative system is GME’s structural component maintained from which
behavior originates within an environment, which occupied by objects with assigned cultural
significance in a higher order system, the cultural system. Organizational structure and
operations are combined together for being concerned with social structures and their
potentials for behavior, operational performance, self-organization, a specific interactive
function. Execution information provides direction for structuring through decision role
specifications, related operative activities, and any decision related rules required to guide
operative processes (Yolles, 2016; 2006). In “the operative system” of the green structure
delivers behavioral potential, power through decisions, empowerment to perform certain
types of operative behaviors within GME, cultural agency and communications that are
specifically related to meaningful themes (referred to as life-world: Schutz & Luckmann,
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1974) in the emerging market environment. “Operative intelligence feedback” may
instrumentally adjust the goals or the way in which operative intelligence respond to them
(Guo et al., 2016; Yolles, 2006), while “figurative intelligence feedback” can create
imperative for changes in cultural knowledge or adjusting the way in which figurative
intelligence deals with the selections of contextual information.
Inter-relationships with activities and competitiveness of GME in order to maintain all the
dynamics of agencies in challenging complex systems for viability, these inter-relationships
are linked to “behavioral intelligence” of GME. This is referred to the ability to understand,
manage other people, and to engage in adaptive social interactions (Kihlstrom & Cantor,
2000) of GME. How well these works of GME is measured as efficacy referring to the
controls of emotionality processes that condition what the intelligences do by operating on the
manifestations of information that occur between the two systems, modifying the semantic
channeling processes of the intelligences (Guo et al., 2016; Yolles & Fink, 2011).
Above provides opportunities for all types of economy, either developed or developing
economies or nations. They are becoming more concerned and aware on the natural
environment; they see these changes in global crises with respect to climate, biodiversity,
fuel, food, and water as a whole to make a transition to a green economy for long-run
performance to increase global wealth totally. In relation to these universal opportunities must
be implemented by all countries to achieve the SDGs (SDSN, 2018).
3. Conclusion and Recommendation
This article illustrates a developed model of the green market economy (GME),
represented as a Cultural Agency Theory (CAT) model, global economic condition using
cultural agency theory representing it as an adaptive complex system in order to fill the gaps
on process to explore solutions to problems in achieving the SDGs.
When the sustainable development is applied into an economy in order to show how to use
limited resources to satisfy all human beings want or need as an agency in CAT. The
development may considerably decrease harmful impact on climate change and harmful side
effects on all lives in all agencies combined in the world. It is carried out by most effective
participation in the processes to effectively enforce common interest, in relation to green
marketing orientation incorporates into a broad range of activities in the economy to ensure
society, economy and environment are protected. With its interactive involvement in an
emerging market environment consists of agencies are the World Bank, the World Trade
Organization and commercial agents (e.g., emerging market agency, purchasing agency,
supply agency, and top company agency) to support sustainable (economic, social,
environmental) development.
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The modeling process offers a general theory of the green market, and is composed of core
substructural axiomatic theory, and subsidiary testable supersystem theory. GME’s dynamic
and its compositions of the three generic systems interacting within its interactive
environment. Positive ties of the GME and interacting strategic agencies can keep each
particular dynamic of the sub-structural (generic) model in balance by limiting pathologies
(conditions of social ill health e.g. poor management, poor procedures, poor communications)
and threats that interfere a sequence of structures and processes. Formulating green theory as
a core set of propositions that are accepted as defining a living adaptive substructure. The
outcome demonstrates the validity of creating the green market economy or GME.
The explanation involving complexity provides a preliminary understanding and insight
into how responding autonomous agency (considered as the strategic GME) and its
stakeholders keep balance to facilitate green globalization in the next decades. At its heart are
the 17 Sustainable Development Goals (SDGs), called for action by all developed and
developing countries. A rising of awareness and building a tight network among strategic
stakeholders (e.g., between the World Bank, WTO, emerging market, purchasing, supply, and
top company agencies) are promoted to the business environment in all types of nations to be
capable of maintaining its green market presence. Policy makers can use our theoretical
framework to illustrate the relationship between these theories to help understand green
administrative interrelationships.
All these may suggest realistic and valid awareness in developing tools to achieve a
competitive marketplace advantage and to be aware on involving strategic agencies linked to
related policies making a transition to be green economy in time to engage challenges to
achieve the SDGs by 2030 for all decision-policy makers (U-tantada, et al, 2019) of GME, the
World Bank, WTO, emerging markets and commercial agencies in globally. Due to this
model is as an effective green economy model, which is also adequate to complexities of
dealing with conflicts, tradeoffs and power struggles that it seeks to change. A reliable
linkage analysis, an empirical approach to this article can be taken place (U-tantada, et al,
2019) in order to conduct researches with a larger sample to generalize both quantitative and
qualitative results on a wider population because their empirical findings can test the validity
of qualitative findings (Hesse-Biber, 2010).
Acknowledgement: The authors would like to thank the editor, the reviewers and Rajamangala
University of Technology Phra Nakhon.
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