[1] Firms have been concerned with short run success and often not taken into account the long-run ecological, social and economic effects from their activities.
When firms and individuals only think about their own self-interest as opposed to society as a whole, it will result in over exploitation of finite resources with long term consequences.
[6] The potential negative impacts of creative destruction and tragedy of the commons are central to what ecological economics addresses, specifically the earth's carrying capacity.
However, it has a focus on corporate environmental marketing management, as opposed to sustainability and this concept relies on government regulation to ensure compliance.
This criticises the traditional micro and short term economic strategies and its lack of consideration for externalities and costs associated with environmental deterioration.
What is fundamental to this approach is that despite company restraints, sustainable marketing practices can improve efficiency within corporations and looks to trade off between commercial and environmental concerns.
[13] Market orientation has several definitions; Narver and Slater[14] discuss MO in terms of culture and the fundamental characteristics of the organisation.
[14] It has been noted MO has a need to address the interests of a spectrum of social, political and business (environmental) stakeholders by corporate management.
The combination of MO's emphasis on internal corporate dynamics with an added reliance on long-term external social and ecological interactions creates the concept of SMO.
SMO allows companies to build on advantages gained through an MO strategy to create a greater alignment of long-term commercial performance with the interests of a wider range of stakeholders.
A new marketing paradigm in which macromarketing takes the central role was suggested with the emphasis placed upon business embeddedness in social relationships.
Sustainable development literature extends MO's parameters with less observance towards the dominant social paradigm and economic performance.
[2] If a firm applies SMO to their corporate management strategy it offers them a more socially and environmentally responsible business framework for profitable marketing activity to more effectively sustain long term competitiveness and survival.
The critical driver for these benefits to the firm will be the integration of organisational intelligence systems, innovation and continuous learning that inform and proactive marketing strategy.
SMO firms will be evaluated at a company, local community, or regional level due to the employment of a macromarketing systems approach.
[25] The sustainability approach adopts an integrated view of marketing, the consideration of social equity, environmental protection, and economic liveability.
[26] Alongside tourism, the forestry industry is adapting to the paradigm shift and moving towards the embodiment of the principles of sustainable forest management.