ABSTRACT
This chapter examines environmental protection to show that even governmental regulation can create opportunities for competitive advantage. Protection of the environment is an especially controversial and costly form of regulation. In some instances, environmental regulation raises serious doubts about whether regulators and authorities use common sense in writing and enforcing rules. Governments and regulators are starting to see the need for a change in terms of both policy and regulation. Given recent developments, it may be tempting to focus one's energy on fighting for saner rules or on minimizing the costs of compliance. While these measures may be necessary, they are not sufficient for one to gain advantage over their competitors. The four steps of the Manager's Legal Plan will help clarify opportunities for value creation that arise when environmental regulation is viewed as more than a cost of doing business.
