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Sustainability and Economic Performance of the Companies in the Renewable Energy Sector in Romania

Author

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  • Mihail Busu

    (Faculty of Management, The Bucharest University of Economic Studies, 6 Piata Romana, 1st district, 010374 Bucharest, Romania)

  • Alexandra Catalina Nedelcu

    (Faculty of Business Administration in Foreign Languages, The Bucharest University of Economic Studies, 6 Piata Romana, 1st district, 010374 Bucharest, Romania)

Abstract

In this paper, we focus on the sustainability and economic performance of the renewable energy sector of Romania. In our analysis, we have used Total Quality Management (TQM) model, which is an economic modern tool used for improving the quality of management for all companies. The aim of this study is to bring into discussion the conceptualized TQM model of Edward Deming underlying different stages of its evolution as it is described in the economic literature. Conceptual model is applied in a case study of the renewable energy sector of Romania. The quantitative research evaluates the impact of the total quality management to achieve the sustainable development, performance objectives and the competitive advantage of the companies in the renewable energy sector. Data was collected through a survey and the questionnaire was addressed to the management and employees in the renewable energy sector. Structural equation modelling (SEM) was used and the hypotheses were tested by partial least square (PLS) equations. Data was analyzed through the Smart PLS 3 software. The main contribution of this paper is to identify and evaluate the relationship among sustainable development, economic performance of the companies and TQM model indicators. The conclusions of our research are in line with the existing literature and confirm the theoretical assumptions, underlining the fact that the undertaking’s performance and sustainable development is a direct consequence of the combination among a series of factors like decisional power quality, motivated workforce as well as integrity of operational process.

Suggested Citation

  • Mihail Busu & Alexandra Catalina Nedelcu, 2017. "Sustainability and Economic Performance of the Companies in the Renewable Energy Sector in Romania," Sustainability, MDPI, vol. 10(1), pages 1-16, December.
    • Handle: RePEc:gam:jsusta:v:10:y:2017:i:1:p:8-:d:123965
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    Cited by:

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    3. Mihail Busu, 2019. "The Role of Renewables in a Low-Carbon Society: Evidence from a Multivariate Panel Data Analysis at the EU Level," Sustainability, MDPI, vol. 11(19), pages 1-16, September.
    4. Júlia A. Nagy & József Benedek & Kinga Ivan, 2018. "Measuring Sustainable Development Goals at a Local Level: A Case of a Metropolitan Area in Romania," Sustainability, MDPI, vol. 10(11), pages 1-15, October.
    5. Amelia Bucur & Gabriela Dobrotă & Oana Dumitraşcu, 2019. "Implications of Fiscal Pressure on the Sustainability of the Equilibrium and Performance of Companies. Evidences in the Rubber and Plastic Industry from Romania," Sustainability, MDPI, vol. 11(7), pages 1-16, April.
    6. Busu Mihail & Vargas Madalina Vanesa & Gherasim Ioan Alexandru, 2020. "An analysis of the economic performances of the retail companies in Romania," Management & Marketing, Sciendo, vol. 15(1), pages 125-133, March.
    7. Theerasak Nitlarp & Theeraya Mayakul, 2023. "The Implications of Triple Transformation on ESG in the Energy Sector: Fuzzy-Set Qualitative Comparative Analysis (fsQCA) and Structural Equation Modeling (SEM) Findings," Energies, MDPI, vol. 16(5), pages 1-26, February.
    8. Eglantina Hysa & Alba Kruja & Naqeeb Ur Rehman & Rafael Laurenti, 2020. "Circular Economy Innovation and Environmental Sustainability Impact on Economic Growth: An Integrated Model for Sustainable Development," Sustainability, MDPI, vol. 12(12), pages 1-16, June.

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