scholarly journals An Innovative Approach to the Implementation of Sustainable Business Ideology in Ukraine

2021 ◽  
Vol 77 (4) ◽  
pp. 48-63
Author(s):  
Borys Burkynskyi ◽  
Natalya Andryeyeva ◽  
Nina Khumarova ◽  
Katyeryna Konstetska

According to the Sustainable Development Goals (UN, 2015), making sustainable business decisions should be the driving force in achieving environmentally-oriented improvements. The key document that supports the 10 principles that ensure SDGs is the United Nations Global Compact Strategy 2021–2023 (UN, 2021). Achieving the goals of the Strategy requires the use of an improved business decision-making model that simultaneously increases revenues and revises the distribution of domestic funds for meeting the principles in the sphere of human rights, economic growth, satisfactory working conditions and the environment, and combating corruption as a key driver of corporate sustainability and responsible business practices. The authors have developed a methodological approach to the assessment of business sustainability, which is based on a combination of elements: analysis of world best practices and trends, determination of the impact of business on the social status and environment, quality assessment of relevant certification, and analysis of compliance with social indexes of sustainable development. The analysis of economic indicators of sustainable business (The B Impact Assessment, 2021) for 2020–2021 allowed singling out companies that finance the environmental sphere. Today, a quarter of the world’s countries carry on sustainable business and finance the environmental degradation impact. The 8 leaders include: France, USA, Brazil, India, Germany, Norway, Ireland and South Korea. Methods of rating and expert assessment constitute an applied aspect of research for identification of prospects of sustainable business formation in Ukraine in the regional context. The result shows that only 8 regions are suitable for sustainable business conduct, while the environmental criterion is more than 9.2 points of 10, the economic criterion does not exceed 5, and the social criterion is 4.02–5.02. Therefore, it is necessary to focus on the organization of sustainable business according to the key strategic state priorities in formation of the mechanisms for the investment and the innovation policy of a sustainable development support system through the use of regulatory tools for reformation of existing business approaches to internationally regulated ones, such as business for nature.

2021 ◽  
Vol 13 (7) ◽  
pp. 3596
Author(s):  
Asif Saeed ◽  
Umara Noreen ◽  
Akbar Azam ◽  
Muhammad Sohail Tahir

In today’s world, the energy sector is considered the backbone of any economy and plays a key role in carbon trading markets and mitigation actions. This study explores the impact of CSR governance on carbon footprints and the social performances of the energy sector. Using an international sample of 45 countries from 2002 to 2017, we find that the existence of a CSR committee improves the firm’s social responsibility and effectively mitigates the carbon footprint. Further, our results present that a large CSR committee with more experienced board members are effective to implement sustainable business practices. Furthermore, a CSR committee with experienced board members does not mitigate the environmental and social concerns, when energy firms have more powerful CEOs. Collectively, our evidence indicates that the existence of CSR governance is favorable to focus on social issues than environmental ones.


Energies ◽  
2021 ◽  
Vol 14 (5) ◽  
pp. 1372
Author(s):  
Silviu Nate ◽  
Yuriy Bilan ◽  
Danylo Cherevatskyi ◽  
Ganna Kharlamova ◽  
Oleksandr Lyakh ◽  
...  

The paper analyzes the impact of energy consumption on the three pillars of sustainable development in 74 countries. The main methodological challenge in this research is the choice of a single integral indicator for assessing the social component of sustainable development. Disability-adjusted life year (DALY), ecological footprint, and GDP (Gross domestic product) are used to characterize the social, ecological, and economical pillars. The concept of physics, namely the concept of density (specific gravity), is used. It characterizes the ratio of the mass of a substance to its volume, i.e., reflects the saturation of a certain volume with this substance. Thus, to assess the relationship between energy consumption and the three foundations of sustainable development, it is proposed to determine the energy density of the indicators DALY, the ecological footprint, and GDP. The reaction to changes in energy consumption is described by the elasticity of energy density functions, calculated for each of the abovementioned indicators. The state of the social pillar is mostly dependent on energy consumption. As for the changes in the ecological pillar, a 1% reduction in energy consumption per capita gives only a 0.6% ecological footprint reduction, which indicates a low efficiency of reducing energy consumption policy and its danger for the social pillar. The innovative aspect of the research is to apply a cross-disciplinary approach and a calculative technique to identify the impact that each of the pillars of sustainable development imposes on energy policy design. The policy of renewable energy expansion is preferable for all sustainable development pillars.


2022 ◽  
Vol 14 (2) ◽  
pp. 933
Author(s):  
Andrey Novoselov ◽  
Ivan Potravny ◽  
Irina Novoselova ◽  
Violetta Gassiy

The method of the social investing of the Arctic subsoil users is considered in this article. As the portfolio of social investments is formed based on the interests of indigenous peoples, the authors used expert assessment and sociological research for social investing modeling. A two-stage procedure for forming a portfolio of such projects is proposed. An approach has also been developed for assessing and selecting investment projects for the Arctic sustainable development according to different criteria of optimality. The authors substantiate the need for a new approach to sustainable development of the Arctic, based not on compensation for the negative consequences of industrial development used in many countries, but on social investment. In this article the proposed approach is tested on the case of the Arctic indigenous community in Taimyr and the optimal social investing portfolio is justified.


2019 ◽  
Vol 19 (1) ◽  
pp. 59-74
Author(s):  
Khalid Mahmood Iraqi ◽  
Tehmina Faisal

Women are around 51% of the total population of Pakistan, and they can do miracles through their active participation in economic activities of the country. Empowering women means accrediting half of the population for sustainable development. The aim of this paper is to examine and analyze the impact of active women participation in the social enterprise sector for their empowerment, and its subsequent consequences in creation of social value in society. For this purpose, primary data has been collected through random and snowball sampling to gain insight into female practitioner’s perspective. The paper highlights women empowerment as a multi-dimensional phenomenon based on four dimensions: psychological, social, economic and political empowerment. It prime focus on active participation in the social enterprise’s sector may lead to increase in enablement of women, the data shows that majority of female entrepreneur responded that they feel psychologically empowered and have financial contribution in household expenses and in community welfare. Secondly, the paper identifies the major challenges including concern of safety and security, lack of access to financial opportunities and social acceptance of the project that restrict women entrepreneurs from progress and creation of social value. Thirdly, it intends to construct framework for recommendations to promote women social enterprises in Pakistan for sustainable development as a whole.


2015 ◽  
Vol 27 (4) ◽  
pp. 430-446 ◽  
Author(s):  
Busaya Virakul

Purpose – This paper aims to propose an effective response by business organizations to the impact of global challenges and sustainable development (SD). It also presents an overview model of organizational performance employing such an approach. Design/methodology/approach – This paper is a conceptual work based upon a review of theories, research findings and reports gathered from relevant literature. The review yielded the following research framework: many countries are facing global challenges; these global challenges are affecting business organizations as external factors; SD is a concept employed to address these challenges; SD can be applied in business organizations through corporate social responsibility (CSR), corporate governance (CG) and sustainability policy and practices; and embedding CSR, CG and sustainability concepts at a strategic level is an effective response to global challenges. Findings – Global challenges are impacting on business organizations and will continue to do so into the future. CSR, CG and sustainability concepts are increasingly being adopted by leading business organizations throughout the world. Embedding CSR, CG and sustainability concepts at a strategic level can sustain long-term organizational performance, as they help businesses face global challenges in a positive manner and maintain their position in societies on good terms with all stakeholders. Research limitations/implications – Different cultural or socio-economic environments may limit the interpretation and application of the findings or propositions in this research. Practical implications – How CSR, CG and sustainability concepts can be holistically implemented in business practices. Social implications – The role of business in lessening the effect of global challenges and supporting SD is illustrated in the proposed model. Originality/value – This paper demonstrates connections among the following critical influences on organizational performance: global challenges; SD; and CSR, CG and sustainability.


2019 ◽  
Vol 25 (3) ◽  
pp. 538-553 ◽  
Author(s):  
Christine Vallaster ◽  
Sascha Kraus ◽  
Norbert Kailer ◽  
Brooke Baldwin

PurposeThe purpose of this paper is to give an up-to-date assessment of key topics and methods discussed in the current literature on responsible entrepreneurship. In the past years, sustainable development itself has become a more popular and important topic in the academic literature and hence the field of sustainable entrepreneurship has become a greater topic of interest and opportunity for solution. Therefore, a systematic literature review is conducted to assess new contributions to the field and its potential for the future of sustainable development, with a focus on responsible innovation.Design/methodology/approachSystematic, evidence-informed literature review following Tranfieldet al.(2003).FindingsBased on a conceptual literature review, five streams of research that responsible entrepreneurs distinguish from purely for-profit entrepreneurs are identified and discussed: walking the line between profit creation and value creation for society; business models of responsible entrepreneurs; their role in transforming society; getting ready to innovate responsibly; and the role of market incentives to foster sustainable business practices.Originality/valueThe structured literature review allows to identify future research paths. In detail, ideas as regards the management of upcoming tensions when trying to combine profit creation and value creation for society, and finally, the way innovation processes need to be rethought when innovating responsibly are discussed and outlined.


2021 ◽  
Vol 1 (1) ◽  
pp. 100-113
Author(s):  
Adedeji Saidi Adelekan

Islamic financing has been identified as an alternative to conventional financial services. However, the extent to which the Islamic financing model could drive small and medium enterprises' (SMEs) competitiveness has been a significant concern in the existing literature. Hence, this study investigates the impact of Islamic financing on SMEs' competitiveness.Adopting the survey research design, the study investigated 400 SME owners/managers in the Southern part of Nigeria. The study employed the ordinary least square regression in the analysis of data. The result establishes that Islamic finance is a significant driver of SMEs' competitiveness. The results specifically reveal that Islamic finance is critical in driving product price, customer experience, and quality of products. The practical implication of Islamic finance may reduce its operational cost since it comes at a no-interest rate while giving room for more innovative prices and customer-centric products at competitive prices. SMEs are to leverage on the opportunities provided by Islamic finance for them to adopt sustainable business practices 


2020 ◽  
Vol 13 (1) ◽  
pp. 34-40 ◽  
Author(s):  
Sheelagh McGuinness ◽  
Jonathan Montgomery

Abstract In The legal determinants of health: Harnessing the power of law for global health and sustainable development, Gostin et al. provide a sustained account of how law can and should be used as an instrument of health promotion. We pick up on the themes of this report with a specific focus of the importance of abortion for women’s sexual and reproductive health and the impact that particular ways of framing abortion in law can have on the lives of women and girls. In this short comment, we wish to emphasize that abortion regulations need to move beyond frameworks based on narrow understandings of harm towards more progressive agendas that take into account the social determinants of health in order to reduce barriers to care. This contribution is particularly relevant to the Commission’s criticism that those ‘[l]aws that stigmatise or discriminate against marginalized populations are especially harmful and exacerbate health disparities’.


2019 ◽  
Vol 15 (6) ◽  
pp. 772-785
Author(s):  
Unai Tamayo ◽  
Gustavo Vargas

Purpose The purpose of this paper is to examine the use of biomimicry to inspire sustainable development in economic systems. The research purpose is to explore the link between ecological systems and economic systems to highlight applied environmental solutions. The goal is to propose some driver to develop sustainable business practices inspired on the principles of biomimicry. Design/methodology/approach This paper provides a theoretical approach that builds the basis for a better understanding of the relationship between nature and sustainable economic decisions. The premise is that in the field of sustainable development, strategies based on “learning from nature” are useful. Furthermore, the concept of biomimicry provides principles and tools specifically aimed at design practice. Findings The complexity of economic systems has shown that high levels of abstraction are required when conceptualising problems and explanations related with nature-inspired solutions. Stakeholder engagement and transdisciplinary collaboration are required to face long-term environmental challenges. Moreover, the exploratory analysis applied in this paper appeared suitable to compile existing literature. Practical implications The study provides some general guidelines and empirical approach through case studies that could help decision makers convert nature-inspired alternatives into valuable strategic business opportunities. Although presented practical cases are framed in the local sphere (i.e. the Basque Country), they can serve as references in other international contexts. Social implications New business models should recognize the positive synchronization between well-managed social, environmental and economic systems. Originality/value The proposed ideas deepen the understanding on the sustainable development and the link between ecological and economic systems. In fact, the concept of biomimetic economy has not been dealt with or developed in depth in previous academic works, nor has it been published thoroughly in the field of research.


2018 ◽  
Vol 22 (02) ◽  
pp. 255-277
Author(s):  
Shweta Mittal ◽  
Vishal Gupta ◽  
Manoj Motiani

The ‘Qasab’ case is designed to teach students about the characteristics of social entrepreneurship and the impact it has on the society. It also describes how sustainable development and social innovation are interlinked. ‘Qasab’ was an organization whose main focus was to preserve the traditional art of the Kutch region. The case describes the genesis and the journey of ‘Qasab,’ how it preserved the traditional art forms, and the personality traits of Pankaj Shah (the social entrepreneur who started ‘Qasab’). The case talks about the problems faced by the artisans in the region, which led to the formation of this social venture. Also, it touches upon the HR challenges faced by a social entrepreneur. At the time this case was written, ‘Qasab’ had become a collective enterprise comprising 1,200 rural master craftswomen from 11 ethnic communities spread across 62 villages in the arid interiors of Kutch and has been formally structured and registered as a ‘Producer Company’ owned by traditional craftswomen. ‘Qasab’ included different communities such as — ‘Mutwa’, ‘Sodha Rajput’, ‘Jat-Daneta’, ‘Meghwal’, ‘Sindhi Memon’, ‘DhebariyaRabari’, ‘KacchiRabari’, ‘Ahir’, ‘Halepotra’, ‘Sumra,’‘Hingorja’ and ‘Pathan’ — that had distinct embroidery styles and emphasized maintaining these styles (since the embroideries were an integral part of their cultural identity) — to preserve their unique identities. ‘Qasab’ was known for its outstanding quality of authentic Kutch embroidery, appliqué and patchwork products, its hallmark being traditional motifs reflecting the cultural identity of each community in contemporary designs through items of premium quality. ‘Qasab’ had made artisans stakeholders in the organization and was able to preserve the distinct art of each community. The case is based on the theme of social entrepreneurship and analyzes the process of the emergence of such enterprises, their importance and the factors that lead to their success and sustainability. Students can assess how these organizations are different from other types of organizations. The case should help students to find the parameters that show that social innovation and sustainable development are interlinked. The case can be used to study the business model of social innovation.


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