has considerable potential to contribute to both economic and
environmental sustainability” (Michael et al., 2010, p. 476). Stakeholders’
preferences bring financial gains for a firm, but they also
drive their environmental or social responsibilities (Forbes and
Jermier, 2010). However, little is known about environmental
management practices in developing countries such as Bangladesh,
even though Asian developing countries need to adopt it as a strategic
vision and as a strategic approach if environmental degradation
is to be avoided