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The triple bottom line for 21st century business
... In a new approach, Elkington [18,19] suggests the Triple Bottom Line (figure 2) and states that sustainability is multidimensional. This concept emphasizes two key sustainability issues: the union of three components of sustainable development (economic growth, social equality and environmental protection) and the integration of these aspects in the short and long run [18]. ...
... In a new approach, Elkington [18,19] suggests the Triple Bottom Line (figure 2) and states that sustainability is multidimensional. This concept emphasizes two key sustainability issues: the union of three components of sustainable development (economic growth, social equality and environmental protection) and the integration of these aspects in the short and long run [18]. ...
... Triple Bottom Line. Modified from Elkington[18]. ...
Currently, one of the biggest sectors in the market is the fashion industry. This is due not only to the high volume of sales and quick succession of trends, but also to the number of people and companies involved with these products from their conception to distribution. This high production has a significant impact on the environment. The textile industry is considered one of the main causes of the world's industrial pollution, since several stages of textile processing are potentially causing environmental degradation on various levels. Thus, sustainability and all of its dimensions can be a tool for changing this scenario in which the fashion industry is a major polluter. In order to understand this phenomenon, we conducted a field study with companies from the textile and clothing supply chain to identify the perceptions and sustainability strategies within these companies The data collected reveal a positive scenario: businesses that are aware of the need for change and are looking for sustainable modes of production, as well as actions already being implemented that are changing this situation and serving as an example to companies in other areas.
... Sustainability, defined by the Brundtland (1987) as "development that meets the needs of the present without compromising the ability of future generations to meet their own needs", has evolved to encompass multifaceted dimensions including economic, environmental and social responsibilities (Dyllick and Hockerts, 2002). Elkington (1998) introduced the concept of the Triple Bottom Line (TBL), urging organisations to balance profit, people and the planet in their performance metrics (Goel, 2010). ...
... Previous research has predominantly focused on individual dimensions of sustainability, often isolating environmental practices from social and economic aspects (Haleem et al., 2022). This fragmented approach fails to capture the holistic impact of institutional pressures as conceptualised by the Triple Bottom Line (Elkington, 1998). Additionally, much of the existing literature centres on developed countries, with limited insights into the unique challenges and dynamics developing nations face (Fores and Fernandez-Yanez, 2023). ...
... As defined by Gallardo-Vázquez and Sanchez-Hernandez (2014), sustainability encompasses the integration of economic, social, and environmental dimensions, often referred to as the TBL. This concept, popularised by Elkington (1998), emphasises the need for organisations to balance environmental integrity, social equity, and economic prosperity. Environmental integrity involves practices that safeguard natural resources for future generations, such as reducing emissions and preventing environmental degradation (Kozica and Kaiser, 2012). ...
Purpose – This paper empirically investigates the influence of coercive, normative, and mimetic pressures on sustainability and supply chain management (SCM) practices in a developing economy's oil and gas industry. It examines the moderating role of firm size on these relationships, focusing on the three dimensions of the triple bottom line (TBL) approach: environmental, economic, and social sustainability.
Design/methodology/approach—The hypotheses were tested using data from a comprehensive survey of 144 oil and gas firms operating in Nigeria. The analysis employs regression models to explore the direct effects of institutional pressures on SCM and sustainability practices and the moderating influence of firm size.
Findings—The findings confirm that coercive and normative pressures significantly enhance sustainability and SCM practices. However, mimetic pressures did not exhibit a significant impact. Additionally, firm size did not moderate the relationships between institutional pressures and sustainability or SCM practices, indicating that these pressures affect firms uniformly regardless of size.
Originality/value – This study contributes to the evolving literature on sustainability by understanding how different institutional pressures influence the adoption of sustainability and supply chain management practices in the oil and gas industry from a TBL perspective. It uniquely highlights the limited role of mimetic pressures and the uniform influence of institutional pressures across firms of varying sizes.
... Bu bakış açısı, sürdürülebilirliğin sadece çevresel değil, aynı zamanda sosyal boyutlarının da önemli olduğuna dikkat çekmektedir. Elkington (1997) ise sürdürülebilirlikte, çevresel, ekonomik ve sosyal boyutların birlikte değerlendirilerek dengelenmesinin elzem olduğuna vurgu yapmaktadır. Daha sonra kendisi, "Üçlü Alt Çizgi" (Triple Bottom Line) yaklaşımını ortaya koymuştur. ...
... Çevresel sürdürülebilirlikte, daha çok doğal kaynakların korunması ve ekosistemlerin dengelenmesi ile ilgilenilmektedir (WCED, 1987;Elkington, 1997). Ekonomik sürdürülebilirlik, ekonomik faaliyetlerin uzun vadede sağlıklı bir şekilde devam edebilmesini sağlamak için kaynakların etkin kullanımını içermektedir. ...
The growing number of environmental problems in the modern world has made the concept of sustainability integral to everyday life as well as industrial and graphic design processes. This transformation is especially evident in packaging design, given its environmental impact during production and potential to influence consumption habits. This study focuses on environmentally sensitive packaging solutions in graphic design, investigating the current situation and solution approaches in depth. The study's objective is to provide a comprehensive overview of the state of the art in sustainable packaging, drawing on a rigorous and systematic review of the latest developments.
The study's key findings indicate that while some packaging is more aligned with sustainability principles, others have room for improvement in specific areas. Notably, most brands demonstrate efforts to reduce waste, yet they do not consistently prioritize biodegradable materials. By underscoring the strengths and weaknesses of sustainable packaging practices in graphic design, this study aims to provide a framework for future design approaches.
... with the local community. The proposal aligns with the concept of the ''triple bottom line'' in business, which emphasizes not only economic but also social and environmental impacts (Elkington, 1999). ...
... Social and Economic Impact: By encouraging students and professors to participate in technology transfer projects, universities can strengthen their connections with the local community. The proposal aligns with the concept of the ''triple bottom line'' in business, which emphasizes not only economic but also social and environmental impacts (Elkington, 1999). ...
This study investigates the processes of Technology Transfer within Brazilian public universities across the country’s five regions. As an applied research project employing quantitative methods, it provides a detailed analysis of these processes. An exploratory approach was adopted, utilizing metrics such as the mean, standard deviation, and coefficient of variation to analyze dispersion variability within the dataset. The Pearson correlation coefficient (R) was also used to examine correlations among dimension variables, further evaluating data variability. The findings reveal significant variability among the universities surveyed, largely due to differences in structural conditions. Notably, the “people” dimension displayed the highest average and the lowest dispersion at 18.23%, indicating moderate variability, while other dimensions, including valuation, marketing, environment, and society, showed comparatively lower results. These outcomes offer a comprehensive overview of Technology Transfer activities within Brazilian public universities, aiding decision-makers in enhancing research knowledge dissemination. The research advocates for a data-driven approach to improve innovation, strengthen infrastructure, and increase the overall effectiveness of knowledge transfer initiatives across the country. By highlighting the critical role of Technology Transfer in promoting innovation and technological advancement, this study provides empirical insights and actionable recommendations that could enhance collaboration between academia, industry, and government, fostering sustainable socioeconomic development and a culture of innovation in Brazil.
... Keberlanjutan melibatkan penerapan prinsip-prinsip ekonomi, sosial, dan lingkungan dalam menjalankan operasi bisnis sehari-hari. Perusahaan yang berfokus pada keberlanjutan mengutamakan efisiensi energi, pengelolaan sumber daya yang bijak, dan upaya untuk meminimalkan dampak negatif terhadap alam (Elkington, J, 1997). ...
... Green marketing memberikan kontribusi terhadap ekonomi berkelanjutan dengan menciptakan keseimbangan antara keuntungan ekonomi, sosial, dan lingkungan, sesuai dengan konsep triple bottom line yang dikemukakan oleh Elkington (1997 ...
Krisis lingkungan global menuntut pendekatan baru yang berkelanjutan, dan teknologi hijau muncul sebagai solusi inovatif. Lebih dari sekadar alat, teknologi hijau mencerminkan paradigma yang mengedepankan harmoni antara perkembangan ekonomi dan pelestarian alam. Dalam manajemen, teknologi hijau menawarkan peluang untuk menciptakan efisiensi operasional, mengelola sumber daya secara bijak, dan mengurangi dampak negatif terhadap lingkungan.Namun, implementasinya membutuhkan strategi yang matang dan perubahan pola pikir. Tidak hanya tentang keuntungan ekonomi, manajemen modern juga harus bertanggung jawab terhadap sosial dan lingkungan. Organisasi yang mengadopsi teknologi hijau menunjukkan bahwa keberlanjutan adalah bagian tak terpisahkan dari keberhasilan jangka panjang. Di era yang semakin sadar akan krisis lingkungan global, teknologi hijau muncul sebagai harapan baru untuk menciptakan harmoni antara perkembangan ekonomi dan pelestarian alam. Ketika dunia menghadapi tantangan yang kompleks seperti perubahan iklim, polusi, dan penipisan sumber daya, teknologi hijau menawarkan solusi yang tidak hanya inovatif tetapi juga berkelanjutan. Di sinilah peran manajemen menjadi sangat penting: bagaimana kita dapat mengintegrasikan teknologi hijau ke dalam setiap aspek operasional, strategi, dan keputusan organisasi.
Manajemen modern kini juga dihadapkan pada tuntutan baru: bagaimana mempertahankan daya saing di pasar global sambil tetap menghormati batas-batas ekologis. Paradigma lama yang berfokus semata-mata pada profit saat ini tidak lagi begitu relevan. Organisasi yang berhasil di masa depan adalah mereka yang mampu menyeimbangkan keuntungan ekonomi dengan tanggung jawab sosial dan lingkungan yang dalam perjalanannya membutuhkan visi yang jelas dan kemauan untuk beradaptasi. Bab ini berupaya mengulas peran teknologi hijau dalam manajemen, memberikan wawasan tentang bagaimana strategi ini dapat menjadi solusi praktis untuk tantangan masa depan sekaligus mendukung keberlanjutan global
... Setiap pilar ini saling terkait dan berkontribusi terhadap keberhasilan perusahaan dalam jangka panjang. Misalnya, perusahaan yang mengadopsi praktik keberlanjutan cenderung memiliki reputasi yang lebih baik di mata konsumen, yang pada gilirannya dapat meningkatkan penjualan dan profitabilitas (Elkington, 1997). Data dari Nielsen (2015) menunjukkan bahwa 66% konsumen bersedia membayar lebih untuk produk yang berasal dari perusahaan yang memiliki komitmen terhadap keberlanjutan. ...
... Dalam hal ini, fungsi biaya harus diintegrasikan dengan pertimbangan keberlanjutan. Misalnya, perusahaan yang menginvestasikan lebih banyak dalam teknologi ramah lingkungan mungkin menghadapi biaya awal yang lebih tinggi, tetapi dalam jangka panjang, mereka dapat mengurangi biaya operasional dan meningkatkan reputasi merek (Elkington, 1997). Data menunjukkan bahwa perusahaan yang menerapkan prinsip TBL dapat mengalami peningkatan profitabilitas. ...
Cost-Volume-Profit (CVP) analysis is a crucial financial management tool that aids companies in strategic decision-making. This study aims to identify the role of CVP analysis in the digital era and how technology integration can enhance its effectiveness. Using a qualitative approach through case studies in several companies, the research reveals that the utilization of big data, predictive analytics, and analytical software can improve decision-making accuracy and speed. The findings indicate that companies successfully adopting digital technology in CVP analysis can significantly enhance profitability and operational efficiency. However, challenges such as data quality and rapid changes in the business environment remain obstacles that need to be addressed. Therefore, investment in technology and human resource training is a crucial step in optimizing the benefits of CVP analysis in the digital era.
... The management of sustainable practices has become a topic of debate in the global order. Its effects contribute to developing competitive advantages, the scope of which provides for the three pillars of sustainability, i.e., economic, environmental and social (Elkington, 1997;Hawken, et al., 1999;Gardberg & Fombrun, 2006;Andriate & Fink, 2008;). Consequently, companies are transforming their operations by integrating social and environmental dimensions into their business models. ...
... In this regard, environmental sustainability highlights its scope and the capacity of companies to generate impact associated with the environment. This approach is framed from the principle of social responsibility, which ensures the performance of the organization with the environment, the welfare of employees and ethical development (Elkington, 1997;Servaes & Tamayo, 2013). ...
Generating value for sustainable development in the glocal order is one of the challenges organizations face. Based on this, environmental sustainability practices are determined as the foundation of green management promoted by human resources in hotel companies in Santiago de Cali-Colombia. Through a descriptive documentary case study with a qualitative approach, a theoretical-normative review of the variables was achieved. For the empirical study, selection criteria for seven sample units were defined. Information was obtained through semi-structured interviews with managers or administrators. Findings show the need to strengthen actions to promote transformations to overcome behaviors that weaken environmental balance. Additionally, strengthen the company's image under the principle of sustainable interactions between customers, suppliers, employees, and government, as sustainable practices relate to green human management under a conclusive differential that leads to public policy guidelines to mitigate environmental impact.
... In this context, recognizing the impacts caused by the company's activities offers the opportunity to maximize positive effects, supported by the 3 Ps: People, Planet and Profit. The tripod analogy favors the metaphor of balance, highlighting the responsibilities and paths of awareness and action in favor of the planet (Elkington, 1998). ...
Objective: This study aims to investigate the eco-socioeconomic transition within the ESG (Environmental, Social, and Governance) framework, analysing how the evolution of consciousness and the adoption of sustainable practices influence organisations and their leadership. The study seeks to understand the role of companies in building a more regenerative and inclusive economic model. Theoretical Framework: The research is based on theories of corporate sustainability, regenerative economy, and conscious leadership. Concepts of sustainable governance, social impact, and ecological transition are explored, drawing from authors such as Laszlo (2001), Raworth (2017), and Rockström et al. (2009). Method: This is a qualitative study based on a systematic literature review. Scientific articles, institutional reports, and international documents on ESG and organizational sustainability were analyzed. Discursive analysis was used to contextualize the evolution of consciousness and its impact on business practices. Results and Discussion: The results indicate that implementing ESG practices fosters a more resilient corporate environment that adapts to future demands. The discussion highlights the necessity of conscious leadership in driving organizational changes aligned with sustainability. Research Implications: This study contributes to the ESG debate by providing insights for managers, academics, and policymakers. The implications include adopting sustainable organizational strategies and enhancing responsible governance. Originality/Value: The research highlights the synergy between innovation, human development, and sustainability, addressing the eco-socioeconomic transition from an interdisciplinary perspective. It reinforces the importance of consciousness evolution in building more ethical and regenerative organizations.
... Gray, Kouhy and Lavers (1995) and Hackston and Milne (1996) included stakeholders as being the responsibility of organizations, and Mitchell, Agle and Wood (1997) understood that organizations cannot meet all the interests of all stakeholders, and must meet the interests of priority stakeholders first. John Elkington (1998) introduced the concept of "triple bottom line", which suggests that organizations should focus not only on profit, but also on people and the planet. In other words, sustainability needs to encompass three pillars: economic, social and environmental. ...
Objective: This study aims to analyze the advances in the concept of Capitalism towards Conscious Capitalism, highlighting its main pillars and the benefits for organizations and society. Theoretical Framework: The Conscious Capitalism model reflects a paradigm shift, where success is measured not only by economic-financial results, but also by the positive impact generated on society and the environment. Over the years, this approach has gained support, with several organizations adopting sustainable and responsible practices. The movement is seen as a natural capitalism evolution in response to contemporary global challenges, such as social inequality and the organizations in society role, promoting a more inclusive, sustainable and ethical capitalism model. Method: The research is based on a bibliographical review of works that provide a theoretical basis for understanding the topic. The four fundamental Conscious Capitalism pillars were analyzed: greater purpose, stakeholder integration, conscious leadership and conscious culture, evaluating their implications for the business environment and society. Results and Discussions: The results indicate that the conscious practices adoption can not only increase the organizations competitiveness, but also generate value for all shareholders involved. Originality/Value: The study is original and has value because it reinforces the need to align organizational interests with social and environmental impacts, promoting a business model capable of balancing profit and social responsibility, driving a fairer and more sustainable future.
... İnovasyon süreçlerinde sürdürülebilirlik önemli bir ilkedir. Sadece ekonomik kazanç sağlamak değil aynı zamanda sosyal etkilere bağlı olarak sürdürülebilirlik mutlaka göz önünde tutulmalıdır (Elkington, 1997). Son olarak, inovasyon sadece kurum veya organizasyon içerisindeki süreçlerle sınırlı tutulmamalı, dış kaynaklardan da beslenmelidir. ...
... Estas propuestas incluyen recomendaciones para mejorar la calidad del agua, fortalecer la gestión ambiental, mejorar la seguridad y los servicios, y promover la educación ambiental. Las propuestas se basaron en mejores prácticas internacionales y en las necesidades y condiciones específicas de las playas de Sucre y San Vicente (Elkington, 1997). ...
El presente estudio aborda los desafíos y oportunidades para la certificación Bandera Azul en las playas de Sucre y San Vicente, Ecuador, donde se identifican deficiencias en la calidad del agua, gestión ambiental y servicios turísticos. El objetivo del artículo es realizar un diagnóstico detallado de estos factores y desarrollar recomendaciones prácticas para alcanzar los estándares internacionales de la certificación Bandera Azul. Utilizando una metodología cualitativa que incluyó observación directa, revisión documental y entrevistas informales, se evaluaron aspectos clave como la calidad del agua, la gestión de residuos, la accesibilidad y la infraestructura de servicios. Los resultados revelaron que, aunque existen deficiencias significativas, hay un fuerte compromiso de las autoridades locales y la comunidad para mejorar la calidad turística y ambiental. La conclusión más relevante del estudio es que la implementación de las recomendaciones propuestas puede contribuir significativamente a mejorar la calidad de las playas y promover un turismo más sostenible
... Sustainability reports contain non-financial information about the company's social, environmental, and economic activities (Elkington, 1997). Companies are not only required to achieve profits (Wang, 2023) but also must be accountable for the effects of their business activities on the economy, society, and the environment. ...
Research Purposes. This study aims to identify the effect of profitability, leverage, firm size and sustainable report disclosure on sustainable growth rate. Research Methods. This research is quantitative research with exploratory type, panel data analysis is used to test the hypothesis. This research was conducted on 29 companies engaged in energy, basic materials, and infrastructure listed on the IDX during the 2020-2023 period. Research Results and Findings. The results of this study indicate that sustainable report disclosure and profitability negatively affect the sustainable growth rate. At the same time, leverage and company size do not affect the sustainable growth rate. Therefore, the results of this study can be used as a basis for decision-making and preparation of financial and operational strategies to support sustainable company growth. In addition, this study provides a new perspective for investors in assessing and selecting companies with high sustainable growth rates as investment options.
... Another relevant model is the Triple Bottom Line (TBL), which encompasses three pillars of sustainability: social, economic, and environmental (Elkington, 1997). This model underscores the need for a balanced approach to tourism development, ensuring that economic benefits do not come at the expense of social and environmental sustainability. ...
Community-based rural tourism (CBRT) is a concept for sustainable development that promotes economic growth, cultural preservation, and environmental conservation in rural areas. This study will examine the difficulties and potential advantages of CBRT (Community-Based Rural Tourism) in Naogaon, Rajshahi, Bangladesh, from the viewpoint of stakeholders. The research examines the success and sustainability of Community-Based Rural Tourism (CBRT) efforts by conducting quantitative interviews with local community people, tourists, government officials, and entrepreneurs. It analyzes the crucial aspects that influence the outcomes of these initiatives. The level of sustainability will be analyzed by the Multi-Dimensional Scaling (MDS) method and the level of priority of future initiatives will be analyzed by the Analytical Hierarchy Process (AHP) method. The results will uncover an intricate interaction of socioeconomic, cultural, and infrastructural obstacles, encompassing restricted financial means, insufficient infrastructure, and the absence of education and skill development for local participants. Despite the difficulties, there are substantial prospects for utilizing the region's abundant cultural legacy, natural splendor, and agricultural methods to develop distinctive and genuine tourism experiences. The study will find out the level of significance of collaborating with several stakeholders, implementing good governance, and employing strategic marketing techniques to improve the sustainability and influence of CBRT in Naogaon.
... This definition acknowledges that there are limits to all physical systems and that the survival of humanity depends on accepting these limits (Hall et al., 2010;Santillo, 2017). As a result, sustainable development requires the consideration of social and environmental factors alongside economic and financial issues (Elkington, 1999;Haugh and Talwar, 2010;Johnsen et al., 2018). ...
Purpose-The study examines how the micro, meso and macro-levels influence learning (forward-facing and backward-facing) and opportunity identification among young entrepreneurs in the UK and China starting green and conventional businesses. Design/methodology/approach-The study is based on 20 young (18-30) entrepreneurs in the UK and China. Thematic and content analysis identified and categorised various themes. The data were then analysed using ORIGIN GraphPad software to identify statistical differences and their significance levels. Findings-General influences on starting a business were relatively evenly spread across the micro (individual), meso (family and social networks) and macro levels (institutional) for the two groups; the only exception was the higher micro-level influences for the green entrepreneurs. The barriers to startups were concentrated at the meso and macro levels, but there were significant differences between the green and conventional startups. Practical implications-A noteworthy finding was the dominance of experiential over cognitive learning among entrepreneurs, including those starting green businesses. Considering the importance of young people establishing environmentally friendly companies, this lack of focus on forward-looking cognitive learning represents a significant educational gap. Greater emphasis should be placed on encouraging green entrepreneurs to devote more attention to the forward-facing, cognitive dimensions of learning. Originality/value-The findings demonstrate the importance of considering the interplay between micro, meso and macro levels on both forward-facing cognitive and backward-facing experiential learning in entrepreneurship. The multilevel impacts provide a more nuanced understanding of the influences shaping entrepreneurial learning and opportunity identification among young entrepreneurs starting businesses with different sustainability orientations.
... The Triple Bottom Line (TBL) approach developed by John Elkington in 1994 emphasizes the importance of environmental, social, and economic factors. Elkington argued that businesses should consider three objectives equally: people, the planet, and profit, rather than focusing solely on profitability (Elkington, 1997;Miller, 2000). The shift reflects a growing recognition of the importance of sustainable practices for long-term business success). ...
The net gain of AI and sustainable development remains a critical area of inquiry, as Artificial Intelligence (AI) offers opportunities and challenges in advancing sustainability. AI offers benefits like optimized energy use and improved resource efficiency, but its rapid adoption also results in high energy consumption, increased e-waste, and resource depletion. This contradiction is referred to as the Sustainability Paradox and calls for a structured evaluation of AI’s impact. The Sustainable AI Impact Assessment Framework (SAIAF) serves as a tool to measure AI’s role in sustainability while accounting for its unintended consequences. It assesses AI across three dimensions: environmental (carbon footprint, energy use), social (labor market changes, ethical issues), and economic (cost efficiency, long-term resilience). Case studies in precision agriculture and smart energy grids demonstrate how SAIAF aids policymakers and industries in minimizing negative impacts while enhancing the sustainability gains of AI. However, fragmented global policies complicate the effective implementation of AI for sustainability, leading to inconsistent regulations and misaligned objectives. This paper highlights the importance of cohesive AI governance and shared sustainability standards. By incorporating SAIAF into policies and industry practices, AI can shift from being resourceheavy to becoming a strategic sustainability ally. The study suggests further research on the sustainability of AI lifecycles, adaptive policies, and innovations in energy-efficient AI systems for a more balanced and responsible future.
... Przyczyniają się one do sekwestracji dwutlenku węgla, ochrony wybrzeży, usuwania odpadów i istnienia różnorodności 26 Określenie potrójnej linii przewodniej zostało wprowadzone przez J. Elkingtona (zob. Elkington 1994Elkington , 1997Elkington , 2004. Koncepcja ta ewoluowała i jedną z jej odmian jest quadruple bottom line (QBL) (Woodward i in., 2004), uwzględniająca cztery obszary: ekonomiczny (economic), środowiskowy (environmental), społeczny (social) i ładu korporacyjnego (corporate governance). ...
The term blue economy is gaining prominence in the context of global action for sustainable use of water resources, reflecting the UN Sustainable Development Goals and the European Blue Deal. However, definitions of the term are ambiguous, making a coherent approach to implementing the blue economy concept difficult.
The monograph analyses the ESG scores, i.e. scores in the environmental, social, corporate governance fields, of companies claiming to be blue economy companies, pointing to the need to improve the transparency of ESG assessment methods and to use artificial intelligence (AI) to better analyse ESG data. The research focuses on the identification of key ESG parameters that influence the sustainability of companies and on the proposal of a new definition of the blue economy, taking into account the use of broadly understood water resources. The research was carried out for companies in the sectors of marine tourism, marine transport, marine port services, shipbuilding, fishing and food processing related to marine resources, marine renewable energy and water-related utilities.
The main research questions relate to the ESG performance of companies claiming to be blue economy companies, the parameters affecting this performance and the courses of action that companies should take to improve their performance in ESG areas. The research uses machine learning (ML) tools to predict ESG performance and identify key ESG parameters. The research indicates that only a small number of companies have above-average ESG performance and low ESG risks, which would qualify them as blue economy companies. The results of the experiments using ML methods show that the number of disclosed ESG parameters is clearly excessive.
The aim of the monograph is to support the development of a sustainable blue economy by quantitatively assessing its implementation by companies and identifying key areas for improvement. The work addresses the issues of sustainability, ESG and AI reporting and ratings in the context of blue economy companies. The research may be of interest to both academics and business practitioners, particularly in the context of using AI for ESG analysis.
... (Al Kurdi et al. 2024) enhancing customer experience is vital for fostering repeat business & long term profitability, aligning with sustainable business practices. Elkington (1999) further contributes to this discussion with his concept of the Triple Bottom Line (TBL), which advocates for measuring business performance based on three dimensions: these are the economic effects social effects and environmental effects. ) green marketing strategies, informed by consumer behavior analysis, are essential for aligning profitability with environmental sustainability Elkington lays the foundation for the Triple Bottom Line in which the organisation aims for success in all three measures: economic, social and environmental. ...
Objective: This research studies family business sustainability leadership adoption obstacles especially regarding their dual need to achieve both profitability and environmental impact targets while examining potential solutions to these problems. Methodology: A research methodology included literary analysis and field studies along with questionnaire distribution for obtaining qualitative and quantitative data. The research survey gathered information about how family businesses handle sustainability measures that focus specifically on their energy consumption as well as energy efficiency and water management plans. Results/Findings: The analysis revealed renewable energy adoption by 80% of the businesses along with energy efficiency implementation in 75% of the examined companies yet only 40% of the organizations practiced water conservation practices. Sustainability commitments within the businesses were clearly evident to researchers but they also recognized that water conservation remained a major point of weakness. Family businesses demonstrate a business model which gives precedence to profitability over environmental sustainability. Family businesses need encouragement for adopting comprehensive sustainable strategies and water conservation strategies through direct support from both public and private institutions. Conclusion/Recommendations: Further investigations in sustainability practices at the sector level need to evaluate neglected measures while improving environmental responsibility of family businesses.
ملخص: الهدف: يدرس هذا البحث معوقات تبني القيادة المستدامة في الشركات العائلية وخاصة فيما يتعلق بحاجتها المزدوجة لتحقيق أهداف الربحية والتأثير البيئي مع دراسة الحلول المحتملة لهذه المشاكل. المنهجية: تضمنت منهجية البحث التحليل الأدبي والدراسات الميدانية إلى جانب توزيع الاستبيانات للحصول على بيانات نوعية وكمية. جمع مسح البحث معلومات حول كيفية تعامل الشركات العائلية مع تدابير الاستدامة التي تركز بشكل خاص على استهلاكها للطاقة بالإضافة إلى خطط كفاءة الطاقة وإدارة المياه. النتائج / الاستنتاجات: كشف التحليل عن تبني الطاقة المتجددة من قبل 80٪ من الشركات جنبًا إلى جنب مع تنفيذ كفاءة الطاقة في 75٪ من الشركات المدروسة ومع ذلك فإن 40٪ فقط من المنظمات تمارس ممارسات الحفاظ على المياه. كانت التزامات الاستدامة داخل الشركات واضحة للباحثين لكنهم أدركوا أيضًا أن الحفاظ على المياه لا يزال نقطة ضعف رئيسية. تُظهر الشركات العائلية نموذج أعمال يعطي الأولوية للربحية على الاستدامة البيئية. تحتاج الشركات العائلية إلى التشجيع على تبني استراتيجيات مستدامة شاملة واستراتيجيات الحفاظ على المياه من خلال الدعم المباشر من المؤسسات العامة والخاصة. الاستنتاجات/التوصيات: إن المزيد من التحقيقات في ممارسات الاستدامة على مستوى القطاع تحتاج إلى تقييم التدابير المهملة مع تحسين المسؤولية البيئية للشركات العائلية.
... Economic, environmental, and social factors all contribute to sustainability. The notion is also known as the Triple Bottom Line (TBL), which is a sustainability concept created by Elkington (1997). This TBL dimension is also called the Triple-P or 3Ps: people, planet, and profits. ...
Sustainable finance and Islamic finance hold significant potential to facilitate sustainable development. Both systems are continually being developed, researched, and advanced by academics, global industry players, and policymakers. However, to the best of the author’s knowledge, a limited amount of research specifically explores the convergence between the principles of Islamic finance and sustainable finance. Therefore, this study aims to examine and highlight the convergence between the principles of the two concepts as they continue developing better financial models based on ethical values. Using a qualitative approach and based on comparative research, the paper found several convergences between the principles of sustainable finance and the principles of Islamic finance. The goals of the two concepts show equal concern for people and the planet. Sustainable and inclusive development are the main points of both concepts. Finally, this study argues that Islamic finance itself promises a more sustainable model for the financial industry.
... Thus, we propose the following hypothesis: From the perspective of stakeholder theory and sustainable development theory, businesses are no longer traditional "economic agents" but "social-ecological-economic agents" that must shoulder social responsibilities. In this context, corporate production and operation rely not only on economic capital but also require the optimal allocation of human, social, and ecological capital (Freeman, 1984;Elkington, 1997). The close integration of various social sectors is essential for the sustainable development of enterprises, which must generate profits while also fulfilling their social responsibilities. ...
As important entities in economic development, corporations must ensure their own operations and also take on relevant social responsibilities, with ESG performance becoming an external card for corporations to demonstrate social responsibility. This paper uses financial data from A-share listed companies from 2018 to 2022 to explore the impact of ESG performance on corporate value and its influencing path, further investigating the mediating role of internal control in this relationship. Specifically, it further analyzes whether environment (E), social responsibility (S), and corporate governance (G) can separately influence corporate value. The final study shows that good ESG performance can indeed enhance corporate value by improving corporate reputation, affecting capital costs, and improving internal governance and financial performance, with internal control playing a mediating role. Further analysis confirmed that environment (E) and social responsibility (S) can each individually have a significant impact on corporate value, while corporate governance (G) alone does not have a significant impact. Based on the above research conclusions, corresponding recommendations and strategies are proposed for the ESG development of listed companies, aiming to improve the operational quality and sustainable development capacity of companies in various industries in China and to promote the stable development of China's listed companies through ESG measures.Moreover, companies should integrate their ESG strategies with the United Nations Sustainable Development Goals (SDGs) to foster synergies among economic growth, environmental stewardship, and social well-being, thereby contributing to a sustainable global future.
... This study used the environmental and economic dimensions together, but the social dimension was missing. In fact, with this approach, more than one dimension that constitutes the triple bottom line (TBL) (Elkington, 1997) of sustainability began to be used together in sustainability analyses. Kloepffer (2008) added the social dimension to this approach. ...
As in many other research areas, the concept of sustainability is at risk of losing its meaning due to its excessive use in tourism and hospitality. The handprint-based net positive framework aims to reduce negative impacts and provide environmental and social benefits. This approach combines sustainability with regenerative models and covers all stakeholders, from individuals to the state. The handprint-based net positive framework offers significant opportunities in the context of measurability in hospitality and tourism. In this way, it may be possible to prevent unethical practices such as greenwashing, greenhushing, etc., especially in sustainability.
... Konsep Triple Bottom Line (TBL) pertama kali diperkenalkan oleh John Elkington pada tahun 1997. TBL menekankan bahwa kinerja sebuah organisasi tidak hanya diukur berdasarkan keuntungan ekonomi saja, tetapi juga berdasarkan dampaknya terhadap lingkungan dan masyarakat (Elkington, 1997dalam Renwick et al., 2013 ...
Manajemen Sumber Daya Manusia (SDM) Berkelanjutan adalah pendekatan strategis yang mengintegrasikan prinsip keberlanjutan dalam pengelolaan SDM. Tujuan utama bukan hanya meningkatkan efisiensi dan produktivitas jangka pendek, tetapi juga mempertimbangkan dampak sosial, ekonomi, dan lingkungan dari keputusan perusahaan.
Manajemen SDM berkelanjutan melibatkan kebijakan yang mendukung kesejahteraan karyawan, inklusi, keberagaman, serta pengembangan kompetensi yang relevan dengan tantangan masa depan. Dengan menerapkan prinsip ini, organisasi dapat menciptakan lingkungan kerja yang lebih positif, meningkatkan loyalitas karyawan, dan mendorong kinerja perusahaan secara berkelanjutan.
Selain itu, praktik SDM berkelanjutan juga mencakup upaya pengurangan jejak ekologis organisasi. Ini dapat dilakukan melalui pelatihan kesadaran lingkungan bagi karyawan, inisiatif kerja jarak jauh, serta pemanfaatan teknologi ramah lingkungan dalam operasional perusahaan.
Perusahaan yang menerapkan SDM berkelanjutan tidak hanya mendapat citra positif di mata konsumen dan pemangku kepentingan, tetapi juga meningkatkan daya saing di pasar global. Dengan demikian, SDM berkelanjutan bukan sekadar tanggung jawab etis, melainkan strategi bisnis yang cerdas dalam menghadapi tantangan dan peluang di era yang terus berubah.
... Regarding sustainable development in the business world, there is an understanding that businesses focused solely on financial profits have transformed into entities that are also responsible for their impact on the environment and society. This concept is known as "Business Sustainability," an effort to achieve harmony among economic, environmental, and social aspects of business operations (Elkington, 1997). This concept of business sustainability has become a central concern in the modern business world due to increased awareness of traditional business practices' environmental and social impacts. ...
This study explores the outcomes of the "Talk Series" community engagement program, which aimed to enhance understanding and awareness of sustainable business practices among SMEs and stakeholders in Malaysia. The program effectively introduced key business sustainability concepts through a structured approach involving expert lectures and interactive discussions, including its benefits, challenges, and practical applications. The findings indicate that the program motivated participants to adopt sustainable practices, emphasizing their potential to improve business reputation, operational efficiency, and innovation while contributing to broader societal and environmental goals. However, the program faced limitations, including a restricted participant scope, short duration, and resource constraints among SMEs. This research highlights the effectiveness of knowledge-sharing initiatives in promoting sustainable business practices. It underscores the need for expanded, long-term engagement to support the broader adoption of sustainability in the SME sector. The outcomes of this program contribute to advancing sustainable economic and environmental practices in Malaysia, aligning with global sustainability objectives.
... RBV theory has significant implications for strategic management practices, informing decisions related to resource allocation, diversification, and innovation. Organizations that leverage their unique resources and capabilities can achieve superior performance and resilience in dynamic markets (Arend & Bromiley 2022) Triple Bottom Line framework (TBL): The TBL framework emphasizes the interconnectedness of economic, social, as well as environmental outcomes (Elkington, 1997). Green marketing practices contribute to the environmental dimension of the Triple Bottom Line, which, in turn, can positively influence financial performance. ...
This study investigates the relationship between green marketing practices and the sustainability performance of manufacturing firms in emerging markets. A self-administered questionnaire was used to collect data from 270 respondents, and the analysis was conducted using Smart PLS-SEM (version 4). The results demonstrate a significant positive relationship between green internal marketing and the overall sustainability performance of the firms. Specifically, green marketing communication was found to positively influence both environmental and social performance, although it did not have a significant effect on financial performance. Likewise, the adoption of green products substantially improved environmental performance but did not significantly impact financial or social performance. Additionally, the study supports a positive association between green strategy implementation and sustainability performance. These findings underscore the critical role of integrating green marketing practices into sustainability initiatives. The research provides valuable insights for managers and policymakers, emphasizing the need for a holistic approach to green marketing to enhance environmental and social outcomes, even if financial benefits are not immediately apparent. This study contributes to the growing body of knowledge on sustainable business practices and offers practical implications for achieving long-term sustainability in manufacturing firms.
... Assim, o conceito de desenvolvimento sustentável foi definido pela Comissão Brundtland em 1987 como "o desenvolvimento que atende às necessidades do presente sem comprometer a capacidade das gerações futuras de atender suas próprias necessidades" (World Comission on Enviroment and Development, 1987). Aprofundando este conceito, Elkington (1997) apresentou um modelo de desenvolvimento sustentável relacionando-o às ideias de prosperidade econômica, qualidade ambiental e justiça social. Desta forma, o sucesso de um país, região ou atividade econômica deve ser mensurado não somente pela sua capacidade de gerar renda, mas, também, pelo seu desempenho social e preservação do ambiente. ...
Resumo A intensificação da produção leiteira pode impactar negativamente o meio ambiente, o bem-estar animal e a saúde humana. Embora aumente a produtividade e os ganhos econômicos, também acarreta custos sociais e ambientais específicos. Desta forma, este estudo utilizou o Indicador de Sustentabilidade em Agroecossistemas (ISA) para avaliar a sustentabilidade da intensificação da produção de leite à pasto em propriedades no Sul de Minas Gerais. O ISA avalia a sustentabilidade com 21 indicadores em sete subíndices: Balanço Econômico, Balanço Social, Gestão do Estabelecimento Rural, Capacidade Produtiva do Solo, Qualidade da Água, Manejo dos Sistemas de Produção e Ecologia da Paisagem Agrícola. Em 2021, foram coletados dados de seis propriedades através de questionários. O balanço ambiental foi inferior ao limiar de sustentabilidade (0,70) em todas as propriedades, que, exceto uma, foram sustentáveis economicamente e socialmente. As propriedades focaram mais nos aspectos econômicos e sociais, negligenciando questões ambientais. Houve uma correlação positiva entre a intensificação da produção (L.ha/ano) e os indicadores ambientais, econômicos e sociais. Isso demonstra que o aumento da produtividade, quando acompanhado de práticas ambientalmente corretas, pode manter ou melhorar os indicadores ambientais.
... account the psychological aspects of financial decision-making, analyzing how emotions and cognitive biases can influence financial decisions Cost items for outsourcing specialists or staffing as an attachment6 Data-Driven Financial PlanningUsing big data (BigData) to analyze financial trends and build personalized financial strategiesCreation of assets that can bring profits; Strategic investment 7 Scenario-Based Planning Development of several alternative financial plans, taking into account various possible scenarios of the development of events. Strategizing in changing conditions 8 "First the client, then the profit"Forming the focus of attention on the human factor, building the client experience An important factor for strategic calculations is the client who forms cash flow, demand, and loyalty ...
The article analyzes the main factors of financial planning, which have undergone changes under the influence of circumstances in the activities of enterprises from open official sources. The main tools that contribute to the improvement of the company's financial indicators and increase the level of balanced development of business entities are highlighted. It was considered how financial sources are provided, due to which actions the sequence of implementation and execution of planning is ensured, and which indicators and requirements are used to control the implementation of financial indicators necessary for continuing to ensure the profitable operation of the enterprise.The goal was to systematize and summarize how the uncertainty of the external environment affects changes in the mechanism of financial planning of Ukrainian business entities and how the view of understanding the essence of financial planning for an enterprise is changing.The main goal of the study is to identify the factors that influence the financial planning of enterprises, including technical-economic, organizational-managerial, political-legal, and socio-psychological aspects in the current time period of external instability. The article substantiates how enterprises, as components of the internal and external markets, respond to such challenges and what decisions are made when ensuring the implementation of the financial planning mechanism in general. Also, attention is focused on the positive aspect of such changes and how exactly their functionality and effectiveness for enterprises are manifested, in particular, how financial planning, which is a key element of management in modern enterprises, improves the efficiency and rationality of the use of financial resources and ensures the stability and development of the enterprise.
... The Triple Bottom Line (TBL) Theory (Elkington, 1997) provides a strong theoretical foundation for understanding humane entrepreneurship's role in climate resilience. TBL posits that businesses should not solely focus on financial profitability but also consider social and environmental factors in their decision-making processes. ...
Purpose: In the battle against climate change, innovative approaches are vital. This paper explores the transformative potential of humane entrepreneurship in driving climate change initiatives. Humane entrepreneurship, which blends innovation with social responsibility, plays a crucial role in mitigating environmental degradation and fostering resilience. Methodology: Using a systematic literature review, the study examines the dynamic nexus between humane entrepreneurship and climate change outcomes, drawing insights from academic publications, reports, and news articles. Findings: Key findings highlight the pivotal role of entrepreneurial innovation, socially responsible business practices, collaborative partnerships, policy support, and community engagement in addressing climate challenges. In Kenya, startups are developing renewable energy solutions and sustainable agriculture practices, contributing significantly to economic and environmental progress. Businesses are increasingly adopting environmentally friendly practices, reflecting a shift towards conscious consumerism. Recommendations: Collaborative partnerships between businesses, governments, NGOs, and communities enhance the impact of climate initiatives. Policy support and access to funding are essential for fostering a conducive environment for humane entrepreneurship. Community engagement and empowerment are critical for building resilience and achieving sustainable climate outcomes.
... Furthermore, the presence of 'life cycle assessment' and 'environmental policy' indicates a significant focus on evaluating the long-term effects of products and policies that align with the emphasis of financial management on long-term sustainability and risk mitigation. These themes demonstrate the understanding that financial strategies are closely linked with sustainability goals to make significant advancements toward SDG-12 (Elkington, 1998;Porter & Kramer, 2011). Porter and Kramer (2011) explore the concept of producing shared value by incorporating societal betterment into the fundamental strategy of organizations, aligning with the keywords revealed in the investigation. ...
Sustainable production and consumption, as defined by the UN sustainable development goal-12 (SDG-12), are crucial, and analyzing SDG-12 from a financial management perspective is important to reveal the complexity of this field of study and opportunities. We address this gap by exploring the Scopus database and conducting a comprehensive bibliometric analysis of SDG-12 through a financial management perspective. Based on a rigorous search protocol, we collated 11,510 high-quality articles and analyzed them using VOSviewer and Biblioshiny software packages. The initial findings yielded the most influential articles, authors and institutions involved in the convergence of SDG-12 and financial management literature. We identified six primary clusters: (1) corporate social responsibility (CSR), environmental, social, and governance and governance impact on financial and environmental outcomes; (2) sustainable supply chain management; (3) circular economy and technological innovation; (4) sustainable tourism and hospitality; (5) green innovation and corporate environmental performance; and (6) strategic integration of sustainability in corporate management and operations. This study traced the scientific evolution of the convergence of SDG-12 and financial management literature and identified critical directions for future research. It provides positive and actionable implications for both scholars and practitioners to navigate the convolution of SDG-12 vis-à-vis financial management.
... Recycling and waste management Waste reduction of up to 25%. Circular Economy Theory [37] Resource conservation, sustainable production cycles. ...
Green Technology Transmission (GTT) offers a powerful framework for addressing global environmental challenges and advancing the Sustainable Development Goals (SDGs). While GTT has the potential to contribute to multiple SDGs, this study specifically examines its role in supporting SDG 7 (Affordable and Clean Energy), SDG 9 (Industry, Innovation, and Infrastructure), and SDG 13 (Climate Action). Conducted within the Australian industrial context, this research employs a qualitative-dominant mixed-methods approach to explore the environmental, economic, and social impacts of GTT. By examining organisational barriers and proposing practical, industry-specific strategies, the research offers actionable solutions to align practises with sustainability goals. This study explores GTT’s role in reducing emissions, improving resource efficiency, and fostering social equity, with leadership and stakeholder collaboration emerging as key enablers. The findings demonstrate how GTT serves as a bridge between policy and practice, empowering high-emission industries to adopt sustainable practises and contribute meaningfully to global sustainability efforts.
... LCA aids in finding ways to lessen an innovation's negative environmental effects while boosting its sustainability. It is possible to guarantee that new technologies will favorably contribute to long-term environmental goals by including sustainability concepts in the design and development process [20]. ...
This research investigates intelligent-based methodologies for navigating the dual imperatives of innovation and standard adoption within system developments aimed at sustainable technological progress. Employing a mixed-methods approach that includes literature reviews, case studies, surveys, interviews, workshops, and focus groups, the study examines the interplay between innovative practices and standard adoption across various industries. In the rapidly evolving technological landscape, balancing the drive for innovation with adherence to established standards presents both synergies and trade-offs. Key findings highlight the importance of leveraging intelligent systems, adaptive regulatory frameworks, multi-stakeholder engagement, and early integration of standards in the innovation process. Achieving long-term sustainable outcomes also relies on agile innovation management techniques and comprehensive sustainability evaluation tools. The study culminates in a strategic technology roadmap offering firms practical guidance on effectively balancing innovation with regulatory requirements. With the use of a supervised machine learning (SML) approach, it was noticed that the R² of 0.92, suggested that 92% of the variance in innovation project success rate is explained by the model. Positive Coefficients in features like R&D Investment, Patents Filed, Balancing Innovation and Standards, and Market Competition positively impact the success rate. The Negative Coefficients in features like Compliance with Major Standards, Frequency of Audits, and Rapid Technological Changes negatively impact the success rate. This research provides valuable insights for achieving sustainable technological advancements and contributes to the body of knowledge on navigating the challenges of innovation and standard adoption.
... The Triple Bottom Line (TBL) is a concept developed by Elkington (1997) in relation to sustainable development. It evaluates the overall sustainability and impact of an organisation's activities by considering three dimensions of performance: economic, social, and environmental. ...
The development of circular economy (CE) is closely linked to innovation. In the process of building 'Zero-Waste Cities' in China, it is crucial to build innovation hubs that can promote the recycling of solid waste. Based on the analysis of relevant theories of Circular Economy Innovation Hubs (CEIHs), this paper studies the basic situation of pilot cities in the construction of 'Zero-Waste Cities' in China, and provides a research framework for the construction of CEIHs and questionnaire scales.
This study aimed to create and critically evaluate a comprehensive, systematic, and rigorous modified Delphi approach for developing a competency inventory for retail salespersons in the USA's home improvement industry. Employing a prospective naturalistic inquiry methodology with a pragmatic inductive analysis approach, the study allowed for flexibility in adapting the design based on emerging data. Through thematic open coding of qualitative data gathered from retail salespeople, the research followed a two-round modified Delphi approach and identified 269 observable competency-based behaviors. These behaviors were refined into 57 competencies and subsequently grouped into 11 overarching clusters. The final outcome was a comprehensive list of competencies in 11 clusters designed to help retail salespersons effectively engage customers in-store. The results were further validated through a second round of analysis with the same participants, ensuring the reliability and accuracy of the identified competencies. The study highlights the evolving role of salespeople in response to significant shifts in customer expectations and retail infrastructure. The identified competency clusters emphasize the increasing importance of customer engagement, a key differentiator for brick-and-mortar stores in a market dominated by online competitors. With the growing impact of 'customer engagement' in a world shaped by reviews and social connectedness, this research focused on cognitive competencies often overlooked yet critical for in-store customer interaction. By focusing on cognitive, behavioral, and technical competencies, the study provides actionable insights for retailers to improve customer engagement, thereby contributing to organizational success. Viewing competencies as an integrated system serves a dual purpose: helping organizations develop tailored models for competency-based training, hiring, and performance management, at the same time, the findings underscore the pressing need for upskilling and reskilling retail personnel to meet the dynamic demands driven by technological advancements and changing consumer behaviors. This research offers valuable contributions to the development of competency models that can guide future training and development initiatives within the home improvement retail industry.
Purpose. The aim of the article is to determine the role of inclusive approaches to social responsibility in enhancing the efficiency of organizational potential management, analysing their impact on the development of organizational potential components such as human, innovative, financial, and reputational resources, and substantiating the significance of inclusive and socially responsible practices in ensuring sustainable development and competitiveness of organizations. Methodology of research. The study employed the following methods: abstract and logical – for formulating theoretical conclusions regarding the concept of social responsibility and its inclusive aspects; theoretical analysis and synthesis – for exploring the impact of socially responsible and inclusive practices on the components of organizational potential; and a systematic approach – to identify interconnections between social responsibility, inclusive approaches, and the key components of organizational potential. Findings. It was established that social responsibility ensures a systematic positive impact on key components of organizational potential, including human, innovative, financial, and marketing potentials. The integration of inclusive approaches into socially responsible practices further amplifies this effect by engaging vulnerable population groups in economic activities and enhancing the efficiency of human capital utilization. Contemporary theoretical approaches to social responsibility and inclusivity were analysed, along with the experience of leading companies in implementing socially responsible practices. It was proven that the integration of socially responsible and inclusive initiatives contributes to more effective resource utilization, enhanced corporate reputation, the formation of ethical and inclusive corporate cultures, and long-term business sustainability. Originality. The systematization of the impact of social responsibility and inclusive approaches on the components of organizational potential was further developed, substantiating their role as an integral element of management that ensures the achievement of strategic goals, engagement of diverse social groups, and organizational adaptation to external challenges. Practical value. The research results can be applied to develop organizational management strategies focused on integrating social responsibility and inclusivity into business processes, thereby enhancing competitiveness, reputational capital, and sustainable development. The study’s recommendations can be adapted to the specifics of sectoral and local markets, contributing to the formation of socially oriented and inclusive business models. Key words: social responsibility, inclusive approaches, organizational potential management, sustainable development, corporate culture, innovative potential, reputation, inclusivity, veterans’ reintegration, resource management, management.
Corporate Social Responsibility (CSR) has become a key focus area for businesses aiming to contribute positively to society. The Aditya Birla Group, one of India’s largest conglomerates, is no exception to this. The group’s CSR initiatives span across various sectors including education, healthcare, rural development, and environmental sustainability. This research paper explores the CSR practices of the Aditya Birla Group, examining their strategies, impact, and challenges faced. By analyzing their approach, the study provides insights into the effectiveness of CSR in driving sustainable development in the community.
Regardless of the conception of sustainability that we accept, it is accepted that transparency is at the core of the matter and, therefore, of its regulation. It is therefore appropriate to analyse its regulatory sources from the perspective of the insurance market, as well as to offer an analysis of the novelties it raises. This chapter therefore begins by examining in depth the hard and soft law instruments applicable to transparency in the insurance market. Afterwards, it examines those features that differentiate it from other reporting.
Companies' awareness of their responsibilities to contribute to sustainability has amplified. Business models, production, and consumption patterns are changing to achieve the Sustainable Development Goals. Entrepreneurs have incorporated social, ecological, and economic aspects into their business process. Thus, sustainable entrepreneurship links entrepreneurship and sustainable development. In addition, a family business as one of the important pillars of society, strives to address pressing issues of the modern world, including gender inequality, and promotes women's empowerment for inclusive society. Women can elevate themselves to become powerful, engage in decision-making and pave the way for the social and economic transformation. This chapter aims to explore women's empowerment opportunities through sustainable entrepreneurship and discusses the contribution of women in the family business. The chapter offers a comprehensive overview of theories, empirical studies, and recent research results concerning sustainable entrepreneurship, gender equality, and family business.
Challenging times give rise to new, more effective methods, tools and innovations for business survival. War, economic decline, displacement of people within and outside the borders of the country, increase in the number of victims - all this, including, is an impetus for the search and application of optimized mechanisms that contribute to the preservation of economic stability within acceptable parameters. In connection with the need for quick adaptation to crisis conditions and solving social problems, social entrepreneurship becomes an effective tool for implementing innovative approaches. However, to achieve sustainability and maximize social impact, it is crucial to identify the components of a social enterprise's business model that reflect both the economic and social goals of the enterprise. An important element in constructing a business model for a SE is the assessment of social impact. An analysis of the peculiarities of the SE business model has been carried out, and an authorial concept for building the business model has been proposed. Unlike the classical business model by Osterwalder, this model is supplemented by a 10th block—social impact of the SE. In this block, it is proposed to answer the following questions: What positive impact do we want to achieve? What specific social or environmental problem does the SE address? How do you measure the social impact of your activities? What indicators do you use to evaluate the effectiveness of social initiatives? Does the SE achieve the triple bottom line of "Profit, People, Planet"? A social enterprise differs from traditional business and charitable activities in a number of ways. Although the tools and principles for organizing business processes are the same as in traditional business, the primary goal is not profit generation but the fulfillment of a social mission. A key characteristic of an SE is its focus on addressing a social or environmental issue. As a result, the approach to organizing business processes in an SE has specific features that distinguish it from other forms of economic activity. Each element of the business model canvas has been clarified in terms of the social orientation of the SE's activities.
Corporate sustainability has become integral to business strategy worldwide, including in Romania. With growing awareness of environmental impacts and the need for sustainable development, Romanian corporations are increasingly adopting green policies. This study explores how Romanian companies balance economic goals with environmental responsibilities and examines how managers’ perceptions of financial outcomes, innovation, and proactive orientations influence sustainability practices. The research adopts a novel management-focused perspective to analyze factors driving sustainable practices within organizations. A two-pronged methodology was employed: qualitative data were collected via a questionnaire administered to 149 CEOs and CFOs, providing insights into financial health and strategies and performing the statistical analysis to comprehensively evaluate long-term environmental and economic sustainability. The results show moderate to strong positive correlations between financial performance, proactive orientation, innovation, and ecological performance. While proactive and innovation parameters significantly impact ecological policies, financial performance plays a more moderate, indirect role. Key findings reveal that transport companies are the least likely to adopt green strategies, while the age of companies does not play a vital role. The study underscores the complex interplay between corporate sustainability and economic performance, offering valuable insights into the challenges and opportunities for Romanian businesses in advancing green policies.
This study aims to determine the effect of investment knowledge and social environment on investment interest of undergraduate students of the Faculty of Economics and Business. This research is motivated by the importance of having knowledge about investment before deciding to invest. Students of the Faculty of Economics and Business were chosen as the population and sample of the study because they have gained investment knowledge through investment support courses and are in an environment where there are investors. The research data were obtained from 116 respondents who were collected using a questionnaire. This research uses multiple linear regression analysis method with SPSS tool. The results of this study indicate that investment knowledge and social environment have a significant influence on the investment interest of undergraduate students of the Faculty of Economics and Business. This research is expected to be used by educational institutions and related parties to pay attention to investment knowledge and the social environment of students to increase investment interest.
Sub-Saharan Africa (SSA) contributes very little to overall global climate change. Yet the region is likely borne with the highest consequences of climate change, with substantial percentages of the global disability adjusted life years (DALYs) attributable to its effects. The impacts of climate change are likely to be more prevalent in poor communities in the region where capacity to adapt and address vulnerabilities is limited. This study examines the strategies that are available for Small and Medium Scale Enterprises (SMEs) in contributing to climate change adaptation in SSA. Based on review of several studies of practices that boost SMEs’ ability to reduce the vulnerability of expected climate change conditions in twelve SSA countries, the study argued that through their involvement in corporate social responsibility (CSR) initiatives, SMEs could be the central pivot in which the fight against climate change can be achieved. The study concludes that government policies should complement SMEs’ independent response to climate change through the provision of financial incentives, improvement of infrastructure and policies that enhance local governance and harmonize SMEs’ CSR activities for achieving sustainable development in Sub Sahara Africa.Key Words: Climate Change, Adaptation, Small and Medium Scale Enterprises, CSR, Sub-Sahara Africa
Driven by the dual imperatives of global economic green transformation and the advancement of digital technologies, achieving synergistic enhancement through digitalization and greenization to promote sustainable development has become a focal point for both academia and practical fields. This study, utilizing a sample of Chinese A-share listed companies from 2010 to 2023, aims to explore the transformative potential of digital–green synergy (DGS) for enhancing enterprise sustainable development within the realm of production efficiency improvement. Employing a coupling coordination model based on the entropy-weighted TOPSIS method, the research measures the DGS levels of enterprises. Grounded in strategic synergy theory, the resource-based view, and dynamic capability theory, this study thoroughly investigates the direct impacts of DGS on corporate TFP, intermediary mechanisms, moderating effects, and heterogeneous roles. The research findings robustly demonstrate that DGS can significantly improve enterprise TFP through optimizing resource allocation, reducing cost stickiness, and enhancing operational efficiency, thereby facilitating the dynamic reorganization of production factors and the creation of sustainable value. Furthermore, external factors, such as financing constraints and environmental regulation, alongside internal organizational factors like executive characteristics, are shown to exert significant moderating effects on the effectiveness of DGS. In summary, this research not only highlights the crucial role of DGS in enhancing production efficiency as a driver for high-quality corporate development and the pursuit of sustainable goals but also provides important theoretical guidance for policymakers to incentivize digital and green transformation. It also offers practical insights for enterprise managers to strategically formulate synergistic development strategies, enhance economic benefits, and achieve long-term sustainable performance. Beyond these practical implications, this study further enriches the theoretical landscape by first extending strategic synergy theory to firm-level digital–green synergy in emerging markets; second by enhancing sustainability research by adopting a broader “environment-society” framework; methodologically innovating by developing a novel “goal-strategy-input-technology” synergy measurement framework; and finally, deepening the theoretical understanding of DGS-TFP relationships through mechanism and moderator exploration.
The study focuses on the impact of the Ngawi Green policy on green entrepreneurial behavior in wood processing SMEs in Ngawi. This study uses a quantitative method with a questionnaire as a method of collecting data. The number of respondents in this study was 150 Wood Industry SMEs in Ngawi who have business licenses. This study discusses the important role of small and medium enterprises (SMEs) in the wood processing industry in Ngawi, which employed 20,837 people in 2019 and contributed to regional economic growth of 22% from 2016 to 2019. This is dominated by wood processing SMEs, with 8,647 units, compared to other industries such as food and textiles. In this study there are 2 variables, namely the endogenous variable (Y) Green Entrepreneurial Behavior of SMEs and the exogenous variable (X) Policy Targets. The results of the study indicate that policy targets have a positive and significant influence on the realization of green entrepreneurial behavior in wood industry SMEs in Ngawi.
This study examines sustainability communication practices in Ghanaian organizations and proposes a framework for effective sustainability communication in Ghana. The approach included a qualitative analysis of interviews with 15 participants from selected industries to ensure a thorough understanding of the issue. The study identified several critical themes, including having a holistic approach to understanding sustainability, integrating sustainability into business strategy, focusing on a stakeholder-centric approach, utilizing a multichannel communication approach, and aligning sustainability practices with global frameworks. The results led to the development of a sustainability communication framework to enhance the communication of sustainability practices. The framework involves three segments—strategy, engagement, and execution—each with three elements (nine in total). The framework discusses the challenges in Ghana’s socioeconomic landscape and suggests practical recommendations to assist organizations in improving their sustainability communication practices. This study contributes to the knowledge of sustainability communication in emerging markets while providing practical implications for effective sustainability communication.
Purpose: Since the incessant supply chain disruptions, the need for supply chain sustainability strategy becomes a veritable tool for a competitive advantage in all disciplines, sectors and governance. This study is motivated to empirically investigate the effects of supply chain sustainability strategy on sustainable performance indicators in the manufacturing technology sector. Methodology: The study employs a purposive sampling technique and selected Siemens Company to analyses the Siemens DEGREE sustainability strategy framework. Secondary data from Siemens sustainability reports and annual reports from 2019 to 2023 were analyzed using descriptive analysis. Findings: Findings reveals that decarbonization of the DEGREE Key Performance indicators has consistently achieve all decarbonization key performance indicators by Siemens targets and also met the SDGs GHG emissions targets by 2030. Unique Contribution to Theory, Practice and Policy: Stakeholder theory was preferred over the Triple Bottom Line in this study because the stakeholder theory represents the DEGREE sustainability strategy framework implemented by Siemens to assess the key sustainable performance indicators (KPI). Recommendations to Siemens include use of biodiversity partnership, eco-design technology, tree-planting volunteering campaign, to reduce waste-to-landfill as well as intensive equitable access to career opportunities and offer a higher pay to encourage more digital learning hours per employee for career growth that will meet all DEGREE sustainability performance before 2025 as well as the SDGs by 2030.
This chapter examines the implications of the smart and sustainable firm concept for management control systems. Through a comprehensive literature review and critical analysis, we explore how traditional management control—including management accounting, strategic control, organizational control, relational control and risk control—functions within this new business paradigms. Our aim is to examine whether existing tools remain effective and to identify potential limitations. The integration of smart technologies and sustainability significantly transforms the dimensions of management control. A smart and sustainable firm creates shared value through the strategic use of technology, balancing economic, environmental and social objectives with a long-term perspective. This requires the use of multidimensional tools and continuous monitoring systems that incorporate real-time and predictive data to manage change and adapt to evolving conditions. In addition, the chapter emphasizes the need for agile and adaptive organizational structures and the role of informal controls, such as cultural and relational mechanisms, in fostering collaboration within ecosystems. We also highlight the importance of proactive risk control to address sustainability-related risks and the challenges posed by smart technologies.
In this chapter, we examine the dynamic environment in which modern businesses operate and introduce the concept of the smart and sustainable ecosystem. After thoroughly reviewing the literature on sustainability and smart technologies, we explore the synergy between these two trends, highlighting how their integration is reshaping the business landscape. The chapter emphasizes key aspects of this transformation, focusing on the strategic and operational implications for companies. We discuss emerging trends and the evolving context to which firms must adapt, particularly how they can align their strategies and business models with these changes. This analysis leads to the proposal of a new business paradigm, the ‘smart and sustainable firm’, which integrates technological innovation with sustainable practices. The chapter concludes by outlining the characteristics of this model, providing a framework for companies aiming to thrive in this evolving ecosystem.
Over the last few decades, one can observe a humongous number of business organizations undertaking several initiatives to benefit society. These initiatives can vary from something as simple as avoiding business malpractices to doing charity or helping the world combat global ecological issues. These companies undertake these activities for several reasons, such as a genuine willingness to aid people, to fulfil the compulsory CSR requirements, or, to build a good customer rapport in the eyes of the prospective buyers and the public in general. Another major concern about these activities is whether are they sustainable or not and if yes, how are they getting integrated with business operations to promote sustainability. Therefore, this research paper aims to find out the rationale behind the same, how it is being done, how it can be done, and what are the potential benefits to all the stakeholders and also to society. For the same, the research has been conducted by using secondary data in an extensive manner that was obtained from journals, blogs, research papers, articles, etc. Through the data gathered, the study delves into the multiple dimensions of CSR and its potential impact on sustainable development. Some of the key themes discussed ahead include risk management, enhancing corporate reputation and stakeholder engagement, etc. The study also dives into the opportunities and challenges attached with the integration of social responsibility with business functions. Ultimately, the findings depict the critical role of businesses in advancing sustainability goals and highlighting their positive impact.
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