Search results for: sustainable business growth

Authors: Arne Fagerstrom, Gary Cunningham, Fredrik Hartwig

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In this paper, a theory of sustainable enterprises, sustainable enterprise theory (SET), is developed. The sustainable enterprise theory can only be a valid theory if knowledge about life and nature is complete. Knowledge limitations should not stop enterprises from doing business with a goal of better long-term life on earth. Life demands stewardship of the resources used during one’s lifetime. This paper develops a model influenced by (the classical) enterprise theory and resource theory that includes more than money in the business activities of an enterprise. The sustainable enterprise theory is then used in an analysis of accountability and in discussions about sustainable businesses.

Keywords: sustainable business, sustainability reporting, sustainable values, theory of the firm

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Authors: Minttu Laukkanen, Janne Huiskonen

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This study investigates the sharing economy business models as examples of the sustainable business models. The aim is to contribute to the limited literature on sharing economy in connection with sustainable business models by explaining sharing economy business models value capturing. Specifically, this research answers the following question: How business model choices affect captured sustainable value? A multiple case study approach is applied in this study. Twenty different successful sharing economy business models focusing on consumer business and covering four main areas, accommodation, mobility, food, and consumer goods, are selected for analysis. The secondary data available on companies’ websites, previous research, reports, and other public documents are used. All twenty cases are analyzed through the sharing economy business model framework and sustainable value analysis framework using qualitative data analysis. This study represents general sharing economy business model value attributes and their specifications, i.e. sustainable value propositions for different stakeholders, and further explains the sustainability impacts of different sharing economy business models through captured and uncaptured value. In conclusion, this study represents how business model choices affect sustainable value capturing through eight business model attributes identified in this study. This paper contributes to the research on sustainable business models and sharing economy by examining how business model choices affect captured sustainable value. This study highlights the importance of careful business model and sustainability impacts analyses including the triple bottom line, multiple stakeholders and value captured and uncaptured perspectives as well as sustainability trade-offs. It is not self-evident that sharing economy business models advance sustainability, and business model choices does matter.

Keywords: sharing economy, sustainable business model innovation, sustainable value, value capturing

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Authors: Tadayuki Kyoutani, Shigeyuki Haruyama, Ken Kaminishi, Zefry Darmawan

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Japan’s semiconductor industries have developed greatly in recent years. Many were started from a Small and Medium-sized Enterprises (SMEs) that found at a good circumstance and now become the prosperous industries in the world. Sustainable growth factors that support the creation of spirit value inside the Japanese company were strongly embedded through performance. Those factors were not clearly defined among each company. A series of literature research conducted to explore quantitative text mining about the definition of sustainable growth factors. Sustainable criteria were developed from previous research to verify the definition of the factors. A typical frame work was proposed as a systematical approach to develop sustainable growth factor in a specific company. Result of approach was review in certain period shows that factors influenced in sustainable growth was importance for the company to achieve the goal.

Keywords: SME, manufacture, sustainable, growth factor

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Authors: Muhammad Waseem Akram

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The current study attempts to analyze the impact of business constraints on the growth potential and performance of Small and Medium Enterprises (SMEs) in the electrical industry of Pakistan. Primary data have been utilized for the study collected from the electrical industry cluster in Sargodha, Pakistan. OLS regression is used to assess the impact of business constraints on the performance of SMEs by controlling the effect of Technology Level, Innovations, and Firm Size. To associate business constraints with the growth potential of SMEs, the study utilized Tetrachoric Correlation and Logistic Regression. Findings reveal that all the business constraints negatively affect the performance of SMEs in the electrical industry except Political Instability. Results of Tetrachoric Correlation show that all the business constraints are negatively correlated with the growth potential of SMEs. Logistic Regression results show that Energy Constraint, Inflation and Price Instability, and Bad Business Practices, all three business constraints cause to reduce the probability of income growth in sample SMEs.

Keywords: SMEs, business constraints, performance, growth potential

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Authors: Hailemariam Gebremichael Gebretsadik, Abrham Hagos Tesfaslasea

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To satisfy the high need for ICT entrepreneurship and rectify the weak entrepreneurial culture in Ethiopia, the country has established ICT Business incubation centers with the intention of preventing business failures, promoting innovation, and accelerating the growth and success of firms. This study investigates the role of business incubators and social capital on the innovation and growth of firms in Ethiopia. In this research, innovation and growth of firms were considered as dependent variables, whereas business incubation and social capital were treated as independent variables. The researcher employed an e-mail survey among 137 tenant Firms (Firms that joined and/or graduated to/from the Business incubation centers available in Ethiopia) to collect the data and obtained 113 responses that were appropriate for this research. The result of this study reveals that the dimensions of business incubation (physical resource, business support, and networking) have a significant effect on the innovation of Firms, but these dimensions of business incubation do not show a significant effect on the growth of firms. On the other hand, the dimensions of social capital (structural, cognitive, and relational) show a significant positive impact on the likelihood of Firms' growth but not on the innovation of firms. Moreover, the result of this study indicates that the dimensions of business incubation and social capital together have a significant effect on the likelihood of tenant firms innovating and growing.

Keywords: business incubation, innovation, social capital, tenant firms

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Authors: Stephen Acheampong Amoafoh

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In today's dynamic economic landscape, businesses face multifaceted challenges that demand strategic foresight and informed decision-making. This abstract explores the pivotal role of financial analytics in driving business performance amidst evolving market conditions. By integrating accounting principles with economic insights, organizations can harness the power of data-driven strategies to optimize resource allocation, mitigate risks, and capitalize on emerging opportunities. This presentation will delve into the practical applications of financial analytics across various sectors, highlighting case studies and empirical evidence to underscore its efficacy in enhancing operational efficiency and fostering sustainable growth. From predictive modeling to performance benchmarking, attendees will gain invaluable insights into leveraging advanced analytics tools to drive profitability, streamline processes, and adapt to changing market dynamics. Moreover, this abstract will address the ethical considerations inherent in financial analytics, emphasizing the importance of transparency, integrity, and accountability in data-driven decision-making. By fostering a culture of ethical conduct and responsible stewardship, organizations can build trust with stakeholders and safeguard their long-term viability in an increasingly interconnected global economy. Ultimately, this abstract aims to stimulate dialogue and collaboration among scholars, practitioners, and policymakers, fostering knowledge exchange and innovation in the realms of accounting, business, and economics. Through interdisciplinary insights and actionable recommendations, participants will be equipped to navigate the complexities of today's business environment and seize opportunities for sustainable success.

Keywords: financial analytics, business performance, data-driven strategies, sustainable growth

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Authors: James Alberto Ortega Morales, Nelson Andrés Martínez Marín

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The bulding industry is one of the most important sectors all around the world in terms of contribution to index like GDP and labor. On the other hand, it is a major contributor to Greenhouse Gases (GHG) and waste generation contributing to global warming. In this sense, it is necessary to establish sustainable practices both from the strategic point of view to the operations point of view as well in all business and industries. Business models don’t scape to this reality attending it´s mediator role between strategy and operations. Business models can turn from the traditional practices searching economic benefits to sustainable bussines models that generate both economic value and value for society and the environment. Recent advances in the analysis of sustainable business models find different classifications that allow finding potential triple bottom line (economic, social and environmental) solutions applicable in every business sector. Into the metioned Advances have been identified, 11 groups and 45 patterns of sustainable business models have been identified; such patterns can be found either in the business models as a whole or found concurrently in their components. This article presents the analysis of a case study, seeking to identify the components and elements that are part of it, using the ECO CANVAS conceptual model. The case study allows showing the concurrent existence of different patterns of business models for sustainability empirically, serving as an example and inspiration for other Latin American companies interested in integrating sustainability into their new and existing business models.

Keywords: sustainable business models, business sustainability, business model patterns, case study, construction industry

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Authors: Vani Tanggamani, Azlan Amran

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The issues of Corporate Social Responsibility (CSR) have been extended from developmental economics to corporate and business in recent years. Research in issues related to CSR is deemed to make higher impacts as CSR encourages long-term economy and business success without neglecting social, environmental risks, obligations and opportunities. Therefore, CSR is a key matter for any organisation aiming for long term sustainability since business incorporates principles of social responsibility into each of its business decisions. Thus, this paper presents a theoretical proposition based on stakeholder theory from the organisational perspective as a foundation for better CSR practices. The primary subject of this paper is to explore how looping concept can be effectively embedded into corporate CSR strategy to foster sustainable long term growth. In general, the concept of a loop is a structure or process, the end of which is connected to the beginning, whereas the narrow view of a loop in business field means plan, do, check, and improve. In this sense, looping concept is a blend of balance and agility with the awareness to know when to which. Organisations can introduce similar pull mechanisms by formulating CSR strategies in order to perform the best plan of actions in real time, then a chance to change those actions, pushing them toward well-organized planning and successful performance. Through the analysis of an exploratory study, this paper demonstrates that approaching looping concept in the context of corporate CSR strategy is an important source of new idea to propel CSR practices by deepening basic understanding through the looping concept which is increasingly necessary to attract and retain business stakeholders include people such as employees, customers, suppliers and other communities for long-term business survival. This paper contributes to the literature by providing a fundamental explanation of how the organisations will experience less financial and reputation risk if looping concept logic is integrated into core business CSR strategy.The value of the paper rests in the treatment of looping concept as a corporate CSR strategy which demonstrates "looping concept implementation framework for CSR" that could further foster business sustainability, and help organisations move along the path from laggards to leaders.

Keywords: corporate social responsibility, looping concept, stakeholder theory, sustainable growth

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Authors: Valencia P. L. Rodrigo, Morita A. Adelina, Vargas V. Martin

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This proposal consists of an analysis of macro concepts involved within an organization growth using educational technologies, which will relate each concept, in a mathematical way with a vision of harmonic work. Working collaboratively, competitively and cooperatively so that this growth is harmonious and homogenous, coining a new term, Harmonic Work. The Harmonic Work ensures that the organization grows in all business directions, allowing managers to project a much more accurate growth, making clear the contribution of each department, resulting in an algorithm that analyzes each of the variables both endogenous and exogenous, establishing different performance indicators in its process of growth.

Keywords: business projection, collaboration, competitiveness, educational technology, harmonious growth

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Authors: Ugbor Raphael Oluchukwu

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Focusing on liquidity comes more naturally to a Chief Executive Officer than an Accountant who is trained to practice accrual accounting. When business is just commencing, it is essentially run on a cheque book (cash accounting) and for as long as there is cash in the accounts, the business is solvent. When complexity sets in and the business adopts financial accounting, the effect of liquidity and cash management becomes more pronounced. The management of cash no doubts impacts positively on the survival and growth of firms. What is in doubt is the amount of cash to be held by a firm as enough cash to enable the firm stay “afloat”. The focus of this paper is to determine liquidity and cash management in business, the Nigerian case. The specific objectives of the study are to do a theoretical review of the amount of cash to be held by a firm as enough cash to enable it stay afloat and to do a theoretical analysis to show the effect of cash flow on the survival and growth of firms in Nigeria.

Keywords: cash, firm survival, growth, liquidity management

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Authors: Ajaykumar Kambekar, Nikita Kalantri

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Due to faster urbanization; developing nations will have to look forward towards establishing new planned cities those are environmentally friendly. Due to growth in Information and Communication Technology (ICT), it is evident that the rise of smart cities is witnessed as a promising trend for future growth; however, technology alone cannot make a city as a smart city. Cities must use smart systems to enhance the quality of life of its citizens and to achieve sustainable growth. Recent trends in technology may offer some indication towards harnessing our cities potential as the new engines of sustainable growth. To overcome the problems of mega-urbanization, new concept of smart cities has been introduced. The current research aims to reduce the knowledge gap in urban planning by exploring the concept of smart cities considering sustainability as a major focus. The aim of this paper is to plan for an entire smart city. The paper analyses sustainable development and identifies the key factors for the creation of future smart cities. The study also emphasizes the use of advanced planning and scheduling software such as Microsoft Project (MSP).

Keywords: urbanization, planned cities, information and communication technology, sustainable growth

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Authors: Mutaju Marobhe, Pastory Dickson

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This study explores the role of Foreign Direct Investment (FDI) in stimulating economic growth of emerging economies. FDIs have been associated with higher economic growth rates in developed countries due to the presence of conducive business conditions e.g. advanced financial markets which may accelerate the rate at which FDI boosts economic growth. So this study sets out to evaluate this macroeconomic phenomenon in emerging economies using the case study of Southern Africa Development Community (SADC) countries. The study uses Ease of Doing Business Index as a variable that moderates the relationship between FDI and economic growth. Panel data ranging from 2010 to 2019 from all SADC members are used and due to the unbalanced nature of the data, fixed effects regression analysis with moderation effect is used to assess this phenomenon. The conclusions and recommendations generated by this study will enable emerging economies to depict how they can be able to significantly improve FDI’s role in accelerating economic growth similarly to developed economies.

Keywords: ease of doing business, economic growth, emerging economies, foreign direct investment

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Authors: Lisandy Arinta Suryana, Santi Novani, Utomo Sarjono

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Paradox of business strategic is associated with the contradictory practice. It becomes one of the critical way to survive and win in the dynamic competitive landscape – high level of uncertainty and rapid change in the business environment. Those characteristics are similar with the environment of hijab fashion business, especially in Indonesia. This paper aims to describe the success of paradoxical strategic based on historical data of hijab fashion business which have been validated by qualitative approach. This paper discusses two main aspects of paradoxical strategic such as paradox in human resource management, and logistic center management. Then, the detail effects from each practice are described in term of causal loop diagram. Moreover, the practice of paradoxical strategic depends on leadership that can make a brave and dynamic decision by capturing the main problems and opportunities in their business, and also build commitment to achieve a specific goal.

Keywords: paradox of business strategic, paradoxical strategic, causal loop diagram, sustainable business, hijab fashion business, business strategic

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Authors: Mary I. Marire

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This seminar examined globalization and civil society organization of Nigeria: The business community. The study examined the effect of globalization on the growth of civil society organizations in Nigeria. It equally evaluated the effect of globalization on the development of Nigerian business environment. The population consists of 562 members of Ohanaeze Ndigbo civil society organisation in Enugu State. The study used the survey approach. The primary sources used were used to administer 290 copies of questionnaire to the sampled members of the group, 282 were returned and accurately filled. The validity of the instrument was tested using content analysis and the result was good. The reliability was tested using the Pearson correlation coefficient (r). It gave a reliability co-efficient of 0.79 which was also good. The hypotheses were analyzed using f-statistics (ANOVA) tool. The findings indicated that that globalization has significant effect on the growth of civil society organizations in Nigeria and development of Nigerian business environment. Based on the findings, the study recommends that efforts should be directed at service delivery and the reduction of corruption to bring about a sustainable socio economic development in Nigeria. This will enable civil society groups to stand the test of time by organizing itself in a manner that will not make them apron or dependent on the government. There is the dire need for government at all levels to show and indeed demonstrate the political will and zeal to cope and meet with the current global realities in its totality.

Keywords: globalization, business environment, civil society, business growth

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Authors: A. S. Salimzhanova, J. C. Sardinas, O. A. Yanovskaya

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The objective of this research work is to discuss the concept of green growth in the Republic of Kazakhstan introduced by its government in the National Sustainable Development Strategy with the objective of transition to a resource-efficient, green economy. We believe that emerging economies like Kazakhstan can pursue a cleaner and more efficient development path by introducing an environmental tax system based on resource consumption rather than only income and labor. The key issues discussed in this article are the eco-efficiency, which refers to closing the gap between economic and ecological efficiencies, and the structural change of the economy toward green growth. We also strongly believe that studying the experience of East Asian countries on green reform including eco-innovation and green solutions in business is essential to the case of Kazakhstan. All of these will raise the status of Kazakhstan to the level of one of the thirty developed countries over the next decades.

Keywords: economic strategy, green growth, green solutions, natural resource management, environmental tax system

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Authors: Ivana Tadić, Željana Aljinović Barać, Nikolina Plazonić

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Living today in turbulent business environment forces companies to distinguish from each other, securing sustainable competitive growth and competitive advantage. The best possible solution is to invest (effort and financial resources) within companies’ different practices of human resource management (HRM), more specifically in employees’ knowledge, skills and abilities. Applying this approach companies will create enviable level of human capital securing its economic growth. Employees become human capital for their employers at the moment when they contribute with their own knowledge and abilities in creating material and non-material value of the company. The main aim of this research is to explore the relations between human capital investments and business excellence of Croatian companies. Furthermore, the differences in the level of human capital investments with regard to several companies’ characteristics (e.g. size of the company, ownership and type of the industry) are investigated.

Keywords: business excellence, Croatian industries, human capital investments, human resource management

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Authors: Milena Serzante, Viktoriia Stankevich, Yousre Badir

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Companies have a significant impact on the environment and society, and sustainability is important not only for ethical concerns but also for financial and economic reasons. The aim of the study is to analyze how the sustainable performance of the company impacts the economy and the business's economic performance. To achieve this goal, such methods as the Pearson correlation, Multiple Linear Regression, Cook's distance method, K-nearest neighbor and COPRAS technique were implemented. The results revealed that there is no significant correlation between different indicators of sustainable development of the company and both GDP and Return on Equity. It indicates that the methodology of evaluating sustainability causes the difference in ranking companies based on sustainable performance.

Keywords: economic impact, sustainability evaluation, sustainable companies, economic indicators, sustainability, GDP, return on equity

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Authors: Ferhat Demir

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Even if strategic management is highly critical for all types of organizations, only a few maturity models have been proposed in business literature for the area of strategic management activities. This paper updates previous studies and presents a new conceptual model for assessing the maturity of strategic management in any organization. Strategic management maturity model (S-3M) is basically composed of 6 maturity levels with 7 dimensions. The biggest contribution of S-3M is to put innovation into agenda of strategic management. The main objective of this study is to propose a model to align innovation with business strategies. This paper suggests that innovation (breakthrough new products/services and business models) is the only way of creating sustainable growth and strategy studies cannot ignore this aspect. Maturity models should embrace innovation to respond dynamic business environment and rapidly changing customer behaviours.

Keywords: strategic management, innovation, business model, maturity model

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Authors: Franziska Mais, Till Gramberg

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The paper presents the development of a sustainable business model for a platform-based application tailored for sawing companies in small and medium-sized enterprises (SMEs). The focus is on the integration of sustainability principles into the design of the business model to ensure a technologically advanced, legally sound, and economically efficient solution. Easy2IoT is a research project that aims to enable companies in the prefabrication sheet metal and sheet metal processing industry to enter the Industrial Internet of Things (IIoT) with a low-threshold and cost-effective approach. The methodological approach of Easy2IoT includes an in-depth requirements analysis and customer interviews with stakeholders along the value chain. Based on these insights, actions, requirements, and potential solutions for smart services are derived. The structuring of the business ecosystem within the application plays a central role, whereby the roles of the partners, the management of the IT infrastructure and services, as well as the design of a sustainable operator model are considered. The business model is developed using the value proposition canvas, whereby a detailed analysis of the requirements for the business model is carried out, taking sustainability into account. This includes coordination with the business model patterns, according to Gassmann, and integration into a business model canvas for the Easy2IoT product. Potential obstacles and problems are identified and evaluated in order to formulate a comprehensive and sustainable business model. In addition, sustainable payment models and distribution channels are developed. In summary, the article offers a well-founded insight into the systematic development of a sustainable business model for platform-based applications in SME sawmills, with a particular focus on the synergy of ecological responsibility and economic efficiency.

Keywords: business model, sustainable business model, IIoT, IIoT-platform, industrie 4.0, big data

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Authors: Felix Schumann, Giorgia Carratta, Tobias Dauth, Liv Jaeckel

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In the last few decades, the rapid growth of the use and disposal of plastic items has led to their overaccumulation in the environment. As a result, plastic pollution has become a subject of global concern. Today plastics are used as raw materials in almost every industry. While the recognition of the ecological, social, and economic impact of plastics in academic research is on the rise, the potential role of the ‘plastic industry’ in dealing with such issues is still largely underestimated. Therefore, the literature on sustainable plastic management is still nascent and fragmented. Working towards sustainability requires a fundamental shift in the way companies employ plastics in their day-to-day business. For that reason, the applicability of the business model concept has recently gained momentum in environmental research. Business model innovation is increasingly recognized as an important driver to re-conceptualize the purpose of the firm and to readily integrate sustainability in their business. It can serve as a starting point to investigate whether and how sustainability can be realized under industry- and firm-specific circumstances. Yet, there is no comprehensive view in the plastic industry on how firms start refining their business models to embed sustainability in their operations. Our study addresses this gap, looking primarily at the industrial sectors responsible for the production of the largest amount of plastic waste today: plastic packaging, consumer goods, construction, textile, and transport. Relying on the archetypes of sustainable business models and applying them to the aforementioned sectors, we try to identify companies’ current strategies to make their business models more sustainable. Based on the thematic clustering, we can develop an integrative framework for the plastic industry. The findings are underpinned and illustrated by a variety of relevant plastic management solutions that the authors have identified through a systematic literature review and analysis of existing, empirically grounded research in this field. Using the archetypes, we can promote options for business model innovations for the most important sectors in which plastics are used. Moreover, by linking the proposed business model archetypes to the plastic industry, our research approach guides firms in exploring sustainable business opportunities. Likewise, researchers and policymakers can utilize our classification to identify best practices. The authors believe that the study advances the current knowledge on sustainable plastic management through its broad empirical industry analyses. Hence, the application of business model archetypes in the plastic industry will be useful for shaping companies’ transformation to create and deliver more sustainability and provides avenues for future research endeavors.

Keywords: business models, environmental economics, plastic management, plastic pollution, sustainability

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Authors: Maman Ali M. Moustapha, Qian Yu, Benjamin Adjei Danquah

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This paper investigates the dynamic interaction between renewable energy consumption (REC) and economic growth using dataset from the Economic Community of West African States (ECOWAS) from 2002 to 2016. For this study the Autoregressive Distributed Lag- Bounds test approach (ARDL) was used to examine the long run relationship between real gross domestic product and REC, while VECM based on Granger causality has been used to examine the direction of Granger causality. Our empirical findings indicate that REC has significant and positive impact on real gross domestic product. In addition, we found that REC and the percentage of access to electricity had unidirectional Granger causality to economic growth while carbon dioxide emission has bidirectional Granger causality to economic growth. Our findings indicate also that 1 per cent increase in the REC leads to an increase in Real GDP by 0.009 in long run. Thus, REC can be a means to ensure sustainable economic growth in the ECOWAS sub-region. However, it is necessary to increase further support and investments on renewable energy production in order to speed up sustainable economic development throughout the region

Keywords: Economic Growth, Renewable Energy, Sustainable Development, Sustainable Energy

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Authors: Kemalettin Eryesil, Osman Esmen, Aykut Beduk

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In this study, it has been studied to determine the relationship between business performance and strategic flexibility, which is defined to be the strategic choice that provides the ability of rapidly responding the changes of the dynamic environment of the companies, for having competitive advantages. In this context a field study has been conducted over 56 companies, which are active in informatics and electronics sectors in TEKNOKENT. As a result of the study it has been determined that; strategic flexibility has an effect on business performance and there is a positive and statistically significant relationship between strategic flexibility and business performance.

Keywords: sustainable competition advantage, strategic flexibility, firm performance, TEKNOKENT

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Authors: Lina Sinevičienė

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Arising problems of countries’ public finances, social and demographic changes motivate scientific and policy debates on public spending size, structure and efficiency in order to meet the changing needs of society and business. The concept of sustainable development poses new challenges for scientists and policy-makers in the field of public finance. This paper focuses on the investigation of the relationship between government expenditure and country’s economic development in the context of sustainable development. Empirical analysis focuses on the data of the European Union (except Croatia and Luxemburg) countries. The study covers 2003 – 2012 years, using annual cross-sectional data. Summarizing the research results, it can be stated that governments should pay more attention to the needs that ensure sustainable development in the long-run when formulating public expenditure policy, particularly in the field of environment protection.

Keywords: economic development, economic growth, government expenditure, sustainable development

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Authors: Laszlo Szerb, Zsofia Voros

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In this article, we seek to answer why many attempts to empirically link entrepreneurial self-efficacy to growth expectations have failed. While doing so, we reconcile the literature on entrepreneurial self-efficacy and overconfidence. By analyzing GEM APS (Global Entrepreneurship Monitor Adult Population Survey) data, we show that early-stage entrepreneurs’ self-efficacy statements are systematically inflated. Our results also indicate that entrepreneurial overconfidence is fading and its form changes as business owners learn and gather experience. In addition, by using Ajzen’s Theory of Planned Behavior (2006) as a modeling framework, we illustrate that early stage business owners’ overconfidence results in overly high firm growth expectations. However, the changes in the form of overconfidence and the adjustments of expectations on market conditions as a venture ages alter the relationship between overconfidence and growth expectations across the business life-cycle stages. Overall, our study empirically links young entrepreneurs’ overconfidence to their growth expectations at the firm level. This link is important to establish as expected growth was linked to realized growth both on micro and macro levels. Moreover, we detected several moderators of this relationship providing a potential answer to why many studies failed to link entrepreneurial self-efficacy to growth expectations.

Keywords: self-efficacy, overconfidence, entrepreneurship, expected growth

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Authors: Charleen von Kolpinski, Karina Cagarman, Alina Blaute

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The circular economy concept is often framed by politicians, scientists and practitioners as being the solution to sustainability problems of our times. However, the focus of these discussions and publications is very often set on environmental and economic aspects. In contrast, the social dimension of sustainability has been neglected and only a few recent and mostly conceptual studies targeted the inclusion of social aspects and the SDGs into circular economy research. All stakeholders of this new circular system have to be included to represent a truly sustainable solution to all the environmental, economic and social challenges caused by the linear economic system. Hence, this empirical research aims to analyse, next to the environmental and economic dimension, also explicitly the social dimension of a sustainable circular business model. This inductive and explorative approach applies the single case study method. A multi-stakeholder view is adopted to shed light on social aspects of the circular business model. Different stakeholder views, tensions between stakeholders and conflicts of interest are detected. In semi-structured interviews with different stakeholders of the company, this study compares the different stakeholder views to profile the success factors of its business model in terms of sustainability implementation and to detect its shortcomings. These findings result in the development of propositions which cover different social aspects of sustainable circular business model implementation. This study is an answer to calls for future empirical research about the social dimension of the circular economy and contributes to sustainable business model thinking in entrepreneurial contexts of the circular economy. It helps identifying all relevant stakeholders and their needs to successfully and inclusively implement a sustainable circular business model. The method of a single case study has some limitations by nature as it only covers one enterprise with its special business model. Therefore, more empirical studies are needed to research sustainable circular business models from multiple stakeholder perspectives, in different countries and industries. Future research can build upon the developed propositions of this study and develop hypotheses to be tested.

Keywords: circular economy, single case study, social dimension, sustainable circular business model

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Authors: Kari M. Solomon

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Companies with a culture accepting of change management and performance excellence are better suited to determine their sustainability performance and impacts. A mature corporate culture supportive of performance excellence is better positioned to integrate sustainability management tools into their standard business strategy. Companies use various sustainability management tools and reporting standards to communicate levels of sustainability performance to their stakeholders, more often focusing on shareholders and investors. A research gap remains in understanding how companies adapt business excellence models to define corporate sustainability performance. A content analysis of medium-sized enterprises using corporate sustainability reports and business excellence models reveals the challenges and opportunities of reporting sustainability performance in the context of organizational excellence. The outcomes of this content analysis contribute knowledge on the resources needed for companies to build sustainability performance management systems integral to existing management systems. The findings of this research inform academic research areas of corporate sustainability performance, the business community contributing to sustainable development initiatives, and integrating sustainable development issues into business excellence models. There are potential research links between sustainability performance management and the alignment of the United Nations Sustainable Development Goals (UN SDGs) when organizations promote a culture of performance or business excellence.

Keywords: business excellence, corporate sustainability, performance excellence, sustainability performance

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Authors: Monique de Ritter, Annemieke Roobeek

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This study takes a holistic multi-layered systems approach on entrepreneurship, innovation, and sustainability. Concretely we looked how mission driven entrepreneurs (level 1) employ new business models and launch innovative products and/or ideas in their enterprises, which are (level 2) operating in entrepreneurial ecosystems (level 3), and how these in turn may generate higher level sustainable change (level 4). We employed a qualitative grounded research approach in which our aim is to contribute to theory. Fourteen in-depth semi-structured interviews were conducted with mission driven entrepreneurs in the Netherlands in which their individual drives, business models, and ecosystems were discussed. Interview transcripts were systematically coded and analysed and the ecosystems were visually mapped. Most important patterns include 1) entrepreneurs have a clear sustainable mission and regard this mission as de raison d’être of their enterprise; 2) entrepreneurs employ new business models with a focus on collaboration for innovation; the business model supports or enhances the sustainable mission of the enterprise, 3) entrepreneurs collaborate in ecosystems in which a) they also regard suppliers as partners for innovation and clients as ambassadors for the sustainable mission, b) would like to improve their relationships with financial institutions as they are in the entrepreneurs’ perspective often lagging behind with their innovative ideas and models, c) they collaborate for knowledge and innovation with several parties, d) personal informal connections are very important, and e) in which the higher sustainable mission is not a point of competition but of collaboration.

Keywords: sustainability, entrepreneurship, innovation, ecosystem, business models

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Authors: Ulemu Maseko

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In Malawi, empowering youth-led cooperatives is a pivotal strategy for fostering sustainable development and nurturing inclusive growth. The study delves into the pressing need to understand the impact and potential of youth-led cooperatives in driving socio-economic progress within the country. Through a mixed-methods approach encompassing qualitative interviews, surveys, and case studies, this research investigates the role of these cooperatives in promoting entrepreneurship, community engagement, and sustainable practices among young individuals. The results underscore the significant contribution of youth-led cooperatives towards economic empowerment and social inclusion in Malawi, highlighting their capacity to address local challenges effectively. The study concludes that supporting and investing in youth-led cooperatives is imperative for advancing sustainable development goals and achieving inclusive growth. Recommendations include tailored support mechanisms, capacity-building programs, and strategic partnerships to enhance the resilience and scalability of youth-led cooperative initiatives in Malawi.

Keywords: youth-led cooperatives, sustainable development, Malawi, empowerment

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Authors: Aysha Zamir

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This study examines to what extent foreign private investment (FPI) affects the clean industrial environment and sustainable economic growth through developed countries investment in China. Moreover, this study investiage an association among FPI, CO2 emission, energy consumption, and sustainable economic growth. This study uses random effects and generalized least squares (GLS) and panel VAR estimators for data analysis. The results indicate that the Chinese economy has a vastly positive influenced regarding the location and choice of emerging and developed countries’ investment in the domestic market. Furthermore, emerging and developed economies investment increases the contribution among domestic firms, environment sustainability toward the national economy. The further results show that foreign private investment and gross domestic investment have a positive impact on sustainable economic growth.

Keywords: clean industrial environment, energy consumption, CO2 emmission, foreign private investment, developed and emerging economies

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Authors: Sadife Güngör, Sevilay Konya

Abstract:

Sustainable development is an economic development scope which covers the economic growth included environmental factors. With the help of economic development, the needs of the future generations are going to be met the needs. As it is aimed the environmental conscious, sustainable development focuses on decreasing the damage of natural sources. From this point of view, while sustainable development is environmentally conscious, it also improving the life standards of individuals. The relationship between development and foreign trade on sustainable development is theoretically searched in this study. In the second part, sustainable development at world and EU is searched and in the last part, the sustainability of trade and development in Turkey is stated.

Keywords: development, sustainable development, foreign trade, Turkey

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