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EN
Research background: Sustainable development at the enterprise level is understood as the integration of economic, environmental and social dimensions aimed at meeting the needs of all firm?s stakeholders in the present and in the future. Therefore, it is crucial to evaluate the relationship between economic, environmental and social sustainability performance of a company and its financial performance. Purpose of the article: Considering the business model for sustainability as well as the debatable results of empirical research on the relationship between corporate sustainability performance (CSP) and corporate financial performance (CFP), the essential aim of the paper is to answer the question whether the improvement of corporate sustainability performance in its all particular dimensions brings about higher total revenues (TR) of a company. Methods: The main method of empirical research is panel regression models based on Cobb-Douglas production function, which has been extended to include variables of corporate sustainability scores. The selection between pooled OLS model, random-effects model and fixed-effects model has been made with the use of the F test, the Breusch-Pagan test and the Hausman test. Additionally, descriptive statistics and the Pearson correlation coefficients have been analyzed. The empirical studies were conducted in the period 2014?2019 among the 59 largest U.S. companies listed in the Fortune 500 ranking between 2015?2020. Findings & value added: The research hypothesis assuming the existence of positive relationship between corporate sustainability performance (CSP) at both aggregate and disaggregate levels and corporate financial performance (CFP) expressed by TR cannot be positively verified. It means that the improvement of corporate sustainability performance in environmental, social and governance dimensions does not lead to an increase in TR of a company, as some empirical studies suggest.
EN
Background and Purpose - The purpose of this paper is to empirically analyse the effects of sustainability-oriented innovation practices on the overall organizational performance. Further, this paper also aims to advance understanding of the measurement of corporate sustainability practices with the focus on innovation dimensions. Design/Methodology/Approach - The study uses data obtained from a survey of 116 organizations encompassing both the manufacturing and service industries in Slovenia. Descriptive statistics were used in order to determine the level of sustainability-oriented innovation practices deployment. Exploratory factor analysis was applied to extract the underlying factors and to provide a basis for assessing their reliability and validity. In addition, regression analysis was used to quantify the effect of sustainability practices on the organizational performance. Results - Data analysis result showed that sustainability-oriented innovation practices are significantly associated with organizational performance. Therefore, empirical evidence from this research confirmed the premise that building innovation competencies and integrating innovation activities in organization’s processes lead to performance benefits. This contributes to the debate about the potential for organizations to be sustainable and competitive. Conclusion - The presented research on corporate sustainability provides important theoretical and practical insights on which the deployment of sustainability-oriented innovation practices are conducive to fostering a broader set of performance benefits. As such, managers should increase organizations’ capacity for innovation which can be beneficial in terms of performance implications and achieving sustainability goals
XX
Purpose: The purpose of this paper is to is to provide insights on implementing corporate social responsibility for sustainability (CSRS) concept and show how it differs from basic corporate social responsibility (CSR). Methodology: The paper discusses major issues with references to existing literature and real business cases from S&P500 consumer discretionary sector. Findings: The main finding of this paper is that CSRS could provide the company with a competitive advantage as a growing number of consumers become more sustainable conscious. It could also help to overcome the increasing consumers' skepticism towards corporate social responsibility practices. Finally, it can also be seen as a step forward in defining what types of corporate activities are associated with desirable social and environmental gains. Research limitations: Our sample was restricted to the U.S. firms from the consumer discretionary sector. Therefore, conclusions should not be generalized to other markets. Our study is based on the analysis of environmental and social responsibility statements and assumes that they accurately represent corporate commitment in majority of the cases. Practical implications: CSRS offers corporations the opportunity to use their unique skills, culture, values, resources, and management capabilities to lead social progress by making sustainability part of its internal corporate logic.
PL
Celem artykułu jest zidentyfikowanie czynników trwałości rozwoju organizacji (corporate sustainability) przez zbadanie uwarunkowań długowieczności przedsiębiorstw. Przyjęto założenie, że przejawem trwałości rozwoju przedsiębiorstwa jest jego długowieczność. Firmy, które potrafią skutecznie utrzymać się na rynku przez wiele lat, wykształciły pewne umiejętności, kompetencje i kulturę organizacyjną, które pozwalają im osiągać równowagę dynamiczną w zmieniającym się otoczeniu. Zaproponowano zestaw cech charakterystycznych dla organizacji długowiecznych. Dzielą się one na 3 grupy: cechy oparte na: wartościach konserwatywnych (wizja, poczucie tożsamości, konserwatywne finansowanie), wartościach progresywnych (wrażliwość na otoczenie, adaptacyjność i antykruchość, organizacyjne uczenie się i zdolność do eksperymentowania) i umiejętności zarządzania organizacją w warunkach paradoksu.
EN
The goal of this paper is to identify antecedents of corporate sustainability by studying literature on corporate longevity. There was assumed that organisational longevity was a symptom of business sustainability. Companies that managed to survive for tens and hundreds years must have developed specific skills, competencies and organisational culture that allow them achieving a dynamic equilibrium in the changing environment. Three sets of features characterising long-living companies were found. These features are based on: (1) conservative values (i.e. vision, sense of identity and conservative financing), (2) progressive values (sensitivity to the environment, adaptability and anti-fragility, organisational learning and experimenting capability), and (3) the ability to embrace paradox.
RU
Цель статьи – выявить факторы постоянства развития организации путем изучения обусловленностей долговечности предприятий. Приняли предположение, что проявлением постоянства развития предприятия является егодолговечность. Фирмы, которые способны эффективно удержаться на рынке в течение многих лет, выработали определенные умения, компетенции и организационную структуру, которые позволяют им достигать динамического равновесия в изменяющейся среде. Предложили набор свойств, характерных для долговечных организаций. Они разделяются на 3 группы: свойства, основанные на консервативных ценностях (видение, чувство тождества, консервативное финансирование), прогрессивных ценностях (чувствительность к окружающей среде, адаптативность и антихрупкость, организационная учеба и способность экспериментировать) и умения управлять организацией в условиях парадокса.
EN
Research background: The idea of sustainable development, in the face of the challenges encountered by contemporary society, is gaining increasing popularity. Currently, it recognizes the substantial role that companies play in its successful implementation. Initiatives in the field of sustainable development may be undertaken by companies independently as part of their own activities, or together with entities forming the supply chain as an element of sustainable supply chain management. Purpose of the article: Identification of groups of companies that are characterised by a different approach to cooperation in the field of sustainable development in the supply chain. Methods: The quantitative research was conducted in September 2020 with the use of the CATI (Computer-Assisted Telephone Interview) technique and a standardised survey questionnaire. A total of 500 randomly selected companies located in Poland participated in this study. The respondents were representatives of top management of the companies. In order to identify various groups of companies, a cluster analysis was performed using the k-means method in SPSS. Findings & value added: Based on the literature analysis, 3 areas of sustainable development have been identified, in which companies can become involved ? green design, sustainable operations, and reverse logistics & waste management. For each of the 3 areas, 3 clusters of companies were identified: companies that are not involved in sustainable development at all (1), companies that carry out most of the sustainable development initiatives independently (2), companies that carry out most of the sustainable development initiatives jointly with supply chain partners (3). The article also shows that the companies in different cluster differ in terms of perceived economic benefits achieved thanks to the implementation of sustainable development initiatives. This may suggest the need to develop separate sustainability solutions for such groups of companies in the future.
EN
The aim of this paper is to examine the role and scope of the influence of leadership on the sustainable development of SMEs. Research methods included the theoretical analysis of scientific literature and a direct survey. The quantitative sample for analysis contained 138 managers, the representatives of companies (SMEs) located in Poland. The data was collected in November and December 2015. The obtained results show that leadership is one of the key aspects that enable sustainability. It is more important than employee approval, beliefs of employees from individual departments and teams, a long-term strategy for the sustainable development of the company, approval by external stakeholders, and substantial financial resources. There is a statistically significant relationship between taking action related to sustainable business in the company and manager’s conviction (awareness) regarding the concept of sustainable business development as well as the influence of the manager on employees and the stimulation of their behaviour, including their development, decent treatment, communication with the manager, and the system of rewards and promotions. Managers undertake some action aimed at developing their employees. They also establish relationships with external stakeholders. The paper presents theoretical reflections on the relationship between the sustainable business development of SMEs and leadership, also verified by the empirical study conducted among managers of private companies. The findings of the study contribute to the understanding of the connections between these constructs. The relationship between the creation of sustainable business development is analysed in depth with reference to SMEs. Entrepreneurs and managers of SMEs can benefit from the study in order to build an organisation capable of achieving effective and sustainable development.
PL
Przez wiele lat koncepcja społecznej odpowiedzialności biznesu zyskiwała na znaczeniu. Stała się przedmiotem debaty zarówno w kręgach akademickich, jak i biznesowych. Idea, zgodnie z którą przedsiębiorstwa mają powinności względem społeczeństwa wykraczające poza odpowiedzialność natury ekonomicznej i prawnej, jest pociągająca, ale również zwodnicza i ryzykowna. Celem artykułu jest krytyczna ocena koncepcji CSR z perspektywy ekonomicznej. W warstwie teoretycznej idea ta może być postrzegana jako naiwne stanowisko, sprzeczne z ograniczeniami wyznaczanymi przez ekonomiczną racjonalność. Ponadto działalność korporacji dostarcza argumentów na wsparcie takiego stanowiska. W rzeczywistości CSR staje się często maską, służącą ukrywaniu przez korporacje ich działań maksymalizujących korzyści ekonomiczne. W związku z tym korporacje mają skłonność do definiowania społecznej odpowiedzialności w kategoriach własnego interesu. Mając na względzie osłabienie siły państwa, obserwowane w erze globalizacji, „społeczna aktywność” korporacji może nawet podważać zasady demokracji przedstawicielskiej oraz negatywnie wpływać na dobrobyt społeczny.
EN
The concept of corporate social responsibility (CSR) has been growing in importance for many years. It has been the subject of debate and research among academics and practitioners alike. The idea that business has obligations to society going beyond economic and legal responsibility is attractive, but also misleading and dangerous. The purpose of this paper is to critique the concept of CSR from an economic perspective. The paper argues that CSR can be seen from a theoretical perspective as a naive approach, one conflicted with the constraints imposed by economic rationality. Moreover, the economic activities of corporations seem to bear out this statement. In reality, CSR is commonly a mask corporations use to cover their profit maximisation activities, and therefore define social responsibility in self-interested ways. Considering the erosion of state power in the era of globalisation, the “social activity” of corporations can even undermine representative democracy and social welfare.
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