scholarly journals CONTROLLING – AN EMPIRICAL STUDY AND PROPOSAL OF A RELEVANT MODEL FOR SUSTAINABLE BUSINESS AND DEVELOPMENT IN SLOVAKIA

2021 ◽  
Vol 22 (5) ◽  
pp. 1252-1268
Author(s):  
Mariana Sedliačiková ◽  
Mária Moresová ◽  
Denisa Malá ◽  
Zuzana Rowland
Keyword(s):  
Financial Health ◽  
Sustainable Business ◽  
Socially Responsible ◽  
Relevant Model ◽  
Financial Investment ◽  
Secondary Sources ◽  
Empirical Survey ◽  
Investment Cost ◽  
Environmental Relations ◽  
Future Direction

The economic crisis triggered by the COVID-19 pandemic suggests that enterprises should manage their business in the wider system of public, social and environmental relations. Sustainable socially responsible business is becoming a lifeline for enterprises, they need to make the most effective decisions about the future direction. This can be achieved by interconnection of sustainable socially responsible business and controlling. Following the empirical survey research carried out using 151 Slovak enterprises the maturity of enterprises concerning the use of controlling and its financial, investment, cost, quality and personnel controlling subsystems was defined. Fisher’s f-test was used for Three-factor analysis of variance questions. The results achieved in the research showing significant differences between analyzed categories of enterprises in terms of size and their subject of business. Based on the analyses of the secondary sources and on results of the research, a framework concept of the structure of corporate controlling for Slovak enterprises was proposed which represents an innovative sustainable business model in practice, the application of which in practice will be a prerequisite for the growth of performance and financial health of enterprises.

scholarly journals The Ecological and Ethical Consumption Development Prospects in Poland Compared with the Western European Countries

2011 ◽  
Vol 14 (2) ◽  
pp. 101-123 ◽  
Author(s):  
Małgorzata Koszewska
Keyword(s):  
Principal Component ◽  
Ethical Consumption ◽  
European Countries ◽  
Primary Sources ◽  
Sources Of Information ◽  
Socially Responsible ◽  
Secondary Sources ◽  
Western European ◽  
Polish Economy ◽  
Development Prospects

An overview of the Western European literature shows that one of the most distinct trends in consumption that has been noted in the recent years is globally increasing environmental and social awareness. The issue of consumers' behaviours and attitudes towards "socially responsible products" has been gaining importance in Polish economy as well. This article evaluates the development prospects of ethical and ecological consumption in Poland vis-a-vis Western European countries. The comparative analysis being part of the article utilizes primary sources of information, i.e. interviews with a representative sample of Polish adults, as well as secondary sources of information. A factor analysis or, more precisely, a principal component analysis, allowed dividing Polish consumers into groups that were typologically homogeneous in respect of their sensitivity to various aspects of business ethics and ecology.

Intertwining CSR with strategy – the way ahead

2014 ◽  
Vol 14 (2) ◽  
pp. 211-219 ◽  
Author(s):  
Shital Jhunjhunwala
Keyword(s):  
Business Strategy ◽  
Design Methodology ◽  
Business Models ◽  
Corporate Strategy ◽  
Sustainable Business ◽  
Socially Responsible ◽  
Content Type ◽  
Sustainable Business Models ◽  
Corporate Social

Purpose – The purpose of this paper is to emphasize the importance and means of making corporate social responsibility (CSR) an integral part of corporate strategy with the help of case studies. Design/methodology/approach – The article explores the transformation of business from being egocentric to socially responsible. With the use of examples it demonstrates how integrating CSR into strategy can create sustainable business models. Findings – Firms need to develop a framework for integrating CSR into their business strategy for long term successful survival. Social implications – Corporates and society are intertwined and mutually dependent. Business cannot survive without society's acquiescence nor succeed without its active support. Originality/value – The article explains the benefits of CSR and how to make it an integral part of business strategy to gain a competitive advantage.

Corporate Social Responsibility in India: A Journey from Corporate Philanthropy to Governance Mandate

2017 ◽  
Vol 10 (2) ◽  
pp. 176-184 ◽  
Author(s):  
K. R. Pillai
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Corporate Philanthropy ◽  
Sustainable Business ◽  
Socially Responsible ◽  
Environmentally Sustainable ◽  
Corporate Social ◽  
Policy Engagement ◽  
Desk Research ◽  
Country Specific

Business is obligatory to society as it flourishes in the very social eco-system. Socially responsible, ethically upright and environmentally sustainable business solutions will endure spatially and temporally. The governmental initiatives to put corporate social responsibility (CSR) in the core business agenda acknowledge the policy engagement in promoting socially responsible business in a country. The present article is the outcome of a country-specific study examining the CSR mandates in a historical perspective in India in general and the domain of Companies Act 2013 in particular. The approach of the study is desk research. The study has observed that the recent mandate of India in this regard is to align the CSR engagements with corporate performance through a process of internalisation and institutionalisation.

scholarly journals The impact of global risk on the performance of socially responsible and conventional stock indices

Equilibrium ◽  
2017 ◽  
Vol 12 (4) ◽  
pp. 657-674 ◽  
Author(s):  
Paweł Śliwiński ◽  
Maciej Łobza
Keyword(s):  
Value Added ◽  
Decisive Role ◽  
Global Risk ◽  
Socially Responsible ◽  
Research Papers ◽  
Responsible Investment ◽  
Financial Investment ◽  
Rational Choices ◽  
The Impact ◽  
Nonfinancial Factors

Research background: In the last decades social responsible investment has evolved into an important and influential investment class. What supports then the development of SRI? The neoclassical approach suggests that the attractiveness of investment should result from the risk-return relationship that is satisfying for the investor. However, the performance analysis of SRI vs. conventional investment, conducted in numerous research papers, often delivers contradictory conclusions. If financial factors could not explain the phenomenon of SRI, nonfinancial factors may have played a decisive role in the formation of modern SRI market. Purpose of the article: The purpose of this paper is to analyze financial investment perfor-mance of socially responsible vs. respective conventional indices in the periods of high, low and unidentified global risk. Therefore, a following research hypothesis was verified: SR indices perform financially better in high-risk periods than in low-risk periods. This hypoth-esis is justified by the assumption that, when selecting SRI, investors go by a longer invest-ment horizon than they do when selecting other investments, not subject to such verification. Methods: Among SR indices, we chose three to compare them with their conventional counterparts: DJSI US vs. DJITR (USA), DJSI Korea vs. KOSPI (South Korea) and Respect Index vs. WIG20TR (Poland). The VIX index was used as the global measure of risk aver-sion. To measure the relative performance of SR and conventional indices in different risk periods, we applied risk-adjusted performance measures, including RSD, Sharpe and Treynor ratios, traditional and asymmetrical CAPM. Findings & Value added: The research shows that conventional and socially responsible indices do not differ statistically in terms of risk and return irrespective of global risk. Our research confirms that the rising, socially responsible, investment market cannot be analyzed only through the prism of simplified rational choices. Additionally, it should be analyzed in terms of moral philosophy and behavioral economics, including the psycho-social features of investors.

scholarly journals Theoretical grounds of labour demotivation diagnostics in the light of eighth SDG

2021 ◽  
Vol 1 (2) ◽  
pp. 48-57
Author(s):  
Bohdan-Petro Koshovyi ◽  
◽  
Ilona Petryk ◽  
Andrii Yevstakhevych ◽  
Ira Von-Nagy
Keyword(s):  
Literature Review ◽  
Working Conditions ◽  
Crucial Role ◽  
Diagnostic System ◽  
Enterprise Management ◽  
Diagnostic Systems ◽  
Sustainable Business ◽  
Socially Responsible ◽  
Enterprise Management System ◽  
Diagnostics System

The eighth SDG concerns decent working conditions. A crucial role in supporting this SDG has a sustainable business. In this article, we have considered labour demotivation in the light of the eighth SDG. We stressed the importance of improving the diagnostics system of demotivation of labour for companies that want to increase profits and be socially responsible. During the literature review, we found a lack of research on labour demotivation and diagnostics. Therefore, we analysed the diagnostic systems' composition and substantiated the main stages, criteria, and functions of the diagnostic system of labour demotivation. We also discussed the prospects of integrating demotivation diagnostics into the enterprise management system. The results of this study can be the basis for further empirical analysis of labour demotivation and can be helpful for internal HR policies improvement

scholarly journals The Role of Top Management Team Digitalization and Firm Internationalization for Sustainable Business

2020 ◽  
Vol 12 (22) ◽  
pp. 9502
Author(s):  
Emil Velinov ◽  
Milan Maly ◽  
Yelena Petrenko ◽  
Igor Denisov ◽  
Vasko Vassilev
Keyword(s):  
Top Management Team ◽  
Chief Information Officer ◽  
Management Team ◽  
Modern World ◽  
Top Management ◽  
The European Union ◽  
Sustainable Business ◽  
Secondary Sources ◽  
Industrial Sectors ◽  
Firm Internationalization

This paper aims to investigate the relationship between the existence of firm digitalization and firm internationalization in selected companies in the European Union (EU). The study provides evidence that upper echelon characteristics bring new competences and skills, including digital skills, which are essential for company internationalization in the modern world of turmoil, crisis and uncertainty. The research paper argues that top management team (TMT) characteristics, and particularly digitalization awareness and skills among the senior management, are critical factors for driving success in international markets and for the sustainability of the business. The dataset in this paper includes around one hundred executive and non-executive profiles in selected European countries, distributed in different industrial sectors. The empirical data have been collected from available online secondary sources on private companies in Germany, Sweden, Estonia, Latvia and Lithuania. The paper’s findings suggest that a relationship exists between TMT digitalization and firm internationalization. Additionally, the paper’s results illustrate that the companies with an on board Chief Information Officer or Chief Digitalization Officer tend to be more international in comparison to those which do not possess these two job positions in their top management.

Future Direction of Sustainable Buildings in Japan

2011 ◽  
Vol 36 (4) ◽  
pp. 5-19
Author(s):  
Tetsuya Saigo ◽  
Seiji Sawada ◽  
Yositika Utida
Keyword(s):  
Business Model ◽  
Building Design ◽  
Human Society ◽  
Sustainable Business ◽  
Sustainable Buildings ◽  
Sustainable Building ◽  
Promising Solution ◽  
Production Practices ◽  
Housing Industry ◽  
Future Direction

Amidst growing concern about the sustainability of human society, architecture studies are focusing increasingly on the means to achieve sustainable buildings. While various forward-looking studies are ongoing in this field, it is also important to realize that critical lessons may be learned from historical buildings that have withstood the test of time. Many traditional wooden buildings in Japan provide excellent examples of sustainable building design and production practices that are inherently flexible and therefore highly resistant to obsolescence. This paper first summarizes a recent lecture by Utida outlining his research into the flexibility and durability of modern buildings, which is based on comparisons with Japan's traditional wooden buildings. It is based on the results of Open Building researches in Japan, especially works in Utida laboratory of Tokyo University (1970-1986) and in AIJ Open Building Sub Committee. This is followed by an overview of the flexibility and material/social lifespan of buildings, and of the developmental trends seen in builders' organizations. And lastly, the future direction of the Japanese detached housing industry is explored. Specifically, the paper traces the changes in the Japanese detached housing industry between 1970 and 2010, and shows how the industry has been shifting toward a sustainable business model. Problems arising from these changes and possible solutions are discussed with concrete examples, and one specific business model is singled out and defined as a promising solution.

The Role of the Insurance Industry to Promote Environmental Sustainability

2021 ◽  
Vol 12 (1) ◽  
pp. 20-20
Author(s):  
Soumya Sasidharan ◽  
Dr. V.K. Ranjith ◽  
Dr. Sunitha Prabhuram
Keyword(s):  
Sustainable Development ◽  
Environmental Sustainability ◽  
Insurance Industry ◽  
Business Environment ◽  
Vital Role ◽  
Green Products ◽  
Sustainable Business ◽  
Secondary Sources ◽  
Definition Of ◽  
Sustainable Insurance

In today's world concept sustainable development is the most important aspect of any organization. This paper aims to identify the contribution of the insurance industry and its role in promoting sustainability. The definition of "sustainable development means without compromising the need of the future the present need of the society must be fulfilled in a competitive business environment"(World Commission on environment and development,WCED,1987). Sustainable insurance is the new concept that emerges in the current state, that every country adopting now. The insurance industry plays a vital role in development of sustainable business through green products and services. This paper is focused on the secondary sources of data from research publications, websites, books, journals, and articles. Sustainable insurance is aimed primarily at developing innovative or green products and services, reducing risk, improving company efficiency, and supporting environmental, social, and financial sustainability. Sustainable insurance indicates to maintain a balance between the society and insurance industry without squandering the resources of nature for the growth and enhancement of the whole community. Keywords: Insurance, Sustainability, Green products and services, Sustainable insurance.

Corporate governance as a value driver for firm performance: evidence from India

2014 ◽  
Vol 14 (2) ◽  
pp. 265-280 ◽  
Author(s):  
Supriti Mishra ◽  
Pitabas Mohanty
Keyword(s):  
Corporate Governance ◽  
Firm Performance ◽  
Financial Performance ◽  
Stock Exchange ◽  
Financial Health ◽  
Composite Measure ◽  
Legal Compliance ◽  
Content Type ◽  
Secondary Sources ◽  
A Value

Purpose – The study aims to examine corporate governance issues in India and establish the relationship between corporate governance and financial performance. Design/methodology/approach – The sample comprises 141 companies belonging to the “A” group stocks listed in the Mumbai Stock Exchange of India. Considering the institutional uniqueness in India, a composite measure of corporate governance is developed comprising three indicators – legal, board and proactive indicators. Data on the three indicators and financial performance were procured from secondary sources. In the step-wise multiple regression analysis, the influence of these three indicators and the composite measure of corporate governance was examined on firm performance after controlling the confounding effects of firm size. Findings – The board and the proactive indicators influence the firm performance significantly whereas legal compliance indicator does not do so. The composite corporate governance measure is a good predictor of firm performance. Originality/value – This study has two contributions: one, it proposes a composite measure of corporate governance considering the unique institutional characteristics of the Indian economy. Two, the study establishes the predictability of the new measure of corporate governance on firm performance as a tool to boost investors' confidence and financial health of firms.

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