The Role of Financial Management in Promoting Sustainable Business Practices and Development

2019 ◽  
Author(s):  
Mariam Al Breiki ◽  
Haitham Nobanee
Keyword(s):  
Financial Management ◽  
Business Practices ◽  
Sustainable Business

scholarly journals SUSTAINABILITY AND THE CONCEPT OF SHARED VALUE AND THE 4TH INDUSTRIAL REVOLUTION: A BIBLIOMETRIC ANALYSIS OF TWO SCIENTIFIC NETWORKS

2021 ◽  
Vol 32 (2) ◽  
pp. 19-32
Author(s):  
Inge de Wet ◽  
de Kock Imke
Keyword(s):  
Bibliometric Analysis ◽  
Industrial Revolution ◽  
Shared Value ◽  
Business Practices ◽  
Sustainable Business ◽  
Production And Consumption ◽  
Consumption Practices ◽  
Scientific Networks ◽  
Environmentally Friendly Production

The role of the technologies, concepts, and philosophies associated with the Fourth Industrial Revolution (4IR) has been argued to hold significant value in the quest for sustainability. Furthermore, the concept of ‘shared value’ has been put forward as an approach that holds significant value when aiming to bring about socially just, economically fair, and environmentally friendly production and consumption practices. The importance of the link between the concept of shared value and 4IR is explored in this paper using bibliometric analysis, and we expose the different structures of these fields, including keywords, key authors, and the coherence of these two scientific networks in order to uncover areas of integration between them. The findings of this analysis indicate that a clear gap in integration exists; and the opportunity for research in this field could further contribute to the debate on using innovative, contemporary technologies — such as those associated with 4IR — to support approaches to ensure increasingly sustainable business practices, such as shared value.

scholarly journals Sustainable Business Practices and Firm’s Financial Performance in Islamic Banking: Under the Moderating Role of Islamic Corporate Governance

2019 ◽  
Vol 11 (23) ◽  
pp. 6606 ◽  
Author(s):  
Amin Jan ◽  
Maran Marimuthu ◽  
Rohail Hassan ◽  
Mehreen
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Islamic Banking ◽  
Managerial Ownership ◽  
Business Practices ◽  
Islamic Banks ◽  
Sustainable Business ◽  
Shariah Governance ◽  
Moderating Role

This paper examines the moderating role of Islamic corporate governance on the link between sustainable business practices and the firm’s financial performance. A post-crisis period sustainability data for the decade of 2008–2017 was collected by the study. For data collection, this study used the weighted content method. The Generalized Method of Moments (GMM) statistical test was used for empirical testing. The results of the study found that the link between sustainable business practices with the firm’s financial performance measured from the shareholders’ and the management’s perspective is positive, while the subjected link measured from the market perspective was found to be insignificant. This implies that the market stakeholders of the Islamic banks are reluctant for their bank’s spending on sustainable business practices. Interestingly, the insignificant link between sustainable business practices and market performance became significant with the moderating role of Shariah governance and managerial ownership. It shows that the moderating role of Shariah governance and managerial ownership is giving confidence to market stakeholders of Islamic banks for receiving a higher financial return through sustainable business practices initiatives. These results may provide insights for several policymakers of the Islamic banking industry about integrating vital sustainability practices in their business models and about the balanced moderating role of Islamic corporate governance in the link between sustainable business practice and the firm’s financial performance. It provides a roadmap to the Islamic banking industry for efficient management of sustainability practices from an Islamic perspective and subsequently improvement of financial performance through it.

Pursuing triple bottom line sustainability through conscious corporate governance

2019 ◽  
Vol 40 (1) ◽  
pp. 83-107
Author(s):  
BAF Sukhdeo ◽  
CA Arnolds
Keyword(s):  
Corporate Governance ◽  
Global Financial Crisis ◽  
Pearson Correlation ◽  
Correlation Coefficients ◽  
Employee Relations ◽  
Business Practices ◽  
Sustainable Business ◽  
Bottom Line ◽  
Business Sustainability

The role of leaders in the pursuit of business sustainability has grown in relevance since the reported corporate scandals and the global financial crisis of 2008. This study suggests that conscious leadership, which differs from current leadership styles, is needed in order to achieve business sustainability. Using a sample of 371 directors and senior managers from 167 JSE-listed and 54 unlisted companies, the study investigated the role of conscious leadership in the achievement of sustainable business practices. Regression analyses and Pearson correlation coefficients, as well as Cohen’s d effect sizes, were calculated in order to analyse the data.The empirical results revealed that the respondents regarded conscious leadership as an important part of corporate governance, which led the present study to coin the phrase “conscious corporate governance”. The results also showed that conscious corporate governance is positively related to healthy employee relations, and to the achievement of equal opportunities and workforce diversity, but that this kind of governance is negatively related to company profitability. The study explores the implications of these results.

HR professionals: key drivers for implementing sustainable business practices

2020 ◽  
Vol 19 (5) ◽  
pp. 205-208
Author(s):  
Shabnam Priyadarshini
Keyword(s):  
Sustainable Management ◽  
Management Practices ◽  
Critical Role ◽  
Transformational Change ◽  
Business Practices ◽  
Sustainable Business ◽  
Content Type ◽  
Key Drivers ◽  
Changing Demographics

Purpose The purpose of this paper is to highlight the importance of sustainable management practices in the current era. The paper highlights the critical role that HR Professionals play in driving this sustainability agenda in organizations. Design/methodology/approach The paper delebrates on how the philosophy of various stakeholders has changed in recent years in embracing responsible management practices. The paper also discusses the role of HR Professionals in embedding and internationalizing a sustainable strategy into the organizational culture. It also discusses some ways with the help of suitable examples from the industry. Findings As globalization, ever-changing demographics and competition for the world’s draining resources force transformational change, businesses would require leadership that is not only enlightened but sustainability-savvy as well to prosper. HR has a very critical role to play in aligning talent with these emerging realities. Originality/value This paper discusses how a growing number of organizations are acknowledging sustainability as a key differentiator for competitive advantage. Furthermore, it discusses the significance of HR Professionals in pushing the sustainability agenda in their organizations. It also presents the strategies and methods to achieve the same with the help of suitable examples.

Promoting Sustainable Government Regulation: What We Can Learn From California

2019 ◽  
Vol 32 (2) ◽  
pp. 145-158 ◽  
Author(s):  
David Vogel
Keyword(s):  
Government Regulation ◽  
Leadership Role ◽  
Business Practices ◽  
Environmental Standards ◽  
Environmental Amenities ◽  
Sustainable Business ◽  
Policy Initiatives ◽  
Business Interests ◽  
Material Interest

This article describes and explains why the state of California has long played a leadership role in adopting innovative and stringent environmental standards. It argues that critical roles have been played by the state’s attractive natural environment, the extent of threats to its environmental quality, the material interest of citizens in protecting the natural environmental around where they lived, and the support of business interests who stood to benefit from protecting the state’s many environmental amenities. These dynamics are illustrated by several historical examples, which have laid the basis for the state’s current environmental policy initiatives. It concludes by generalizing from the experiences of California in order to explore the role of politics and public policies in promoting more sustainable business practices.

Fostering Responsible Business

2017 ◽  
pp. 309-330 ◽  
Author(s):  
Amir Hossein Rahdari
Keyword(s):  
Corporate Sustainability ◽  
Organizational Structures ◽  
Future Research ◽  
Business Practices ◽  
Business Organizations ◽  
Sustainable Business ◽  
Responsible Business Practices ◽  
Corporate Social ◽  
Shed Light

Corporate social responsibility networks and associations play a significant role in fostering responsible business yet there exists a lacuna in the literature regarding the role of these networks and associations in augmenting responsible business practices. Furthermore, research studies with regard to how they function seem to be non-existent. Following this line of argument, this study attempts to shed light on these ambiguities by examining three leading networks. The results suggest that corporate sustainability and responsibility networks and associations play the role of facilitators, by providing tools and services, and incentivize business organizations to take measurable actions towards corporate sustainability. Moreover, they function as the engine of growth for responsible and sustainable business ecosystem. With their growing influence and the mainstreaming of responsible practices, a review of their objectives, organizational structures, types of activities, practices and impacts using a reviewing framework would provide a solid background for future research.

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