IDEAS home Printed from https://ideas.repec.org/a/ibn/jsd123/v17y2024i2p73.html

Sustainable Business: Practices, Trends, Benefits, Challenges, and Innovative Strategies

Author

Listed:
  • Mussie T. Tessema
  • Huh Jung Hahn
  • Scott Buck
  • Maddie Burke
  • Thomas Coppola
  • Katie Kasprzak
  • Whitni Kral
  • Gust Petropoulos

Abstract

Sustainability has emerged as a crucial aspect in today’s business world. This study explores sustainable business practices (SBPs) in the U.S., highlighting the concept, trends, benefits, and challenges, with a focus on the construction and food industries. It argues that despite the costs and hurdles, the benefits of SBPs often outweigh these challenges. The study emphasizes the need for a strategic approach to sustainability that perceives SBPs beyond just enhancing reputation, complying with regulations, or as short-term operational improvements. It also discusses the implications of these practices and suggests directions for future research.

Suggested Citation

  • Mussie T. Tessema & Huh Jung Hahn & Scott Buck & Maddie Burke & Thomas Coppola & Katie Kasprzak & Whitni Kral & Gust Petropoulos, 2024. "Sustainable Business: Practices, Trends, Benefits, Challenges, and Innovative Strategies," Journal of Sustainable Development, Canadian Center of Science and Education, vol. 17(2), pages 1-73, March.
    • Handle: RePEc:ibn:jsd123:v:17:y:2024:i:2:p:73
    as

    Download full text from publisher

    File URL: https://ccsenet.org/journal/index.php/jsd/article/download/0/0/49929/54001
    Download Restriction: no
    File URL: https://ccsenet.org/journal/index.php/jsd/article/view/0/49929
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Muhammad Haseeb & Hafezali Iqbal Hussain & Sebastian Kot & Armenia Androniceanu & Kittisak Jermsittiparsert, 2019. "Role of Social and Technological Challenges in Achieving a Sustainable Competitive Advantage and Sustainable Business Performance," Sustainability, MDPI, vol. 11(14), pages 1-23, July.
    2. Alikhani, Reza & Torabi, S. Ali & Altay, Nezih, 2019. "Strategic supplier selection under sustainability and risk criteria," International Journal of Production Economics, Elsevier, vol. 208(C), pages 69-82.
    3. Markus J. Milne & Dennis M. Patten, 2002. "Securing organizational legitimacy," Accounting, Auditing & Accountability Journal, Emerald Group Publishing Limited, vol. 15(3), pages 372-405, August.
    4. Merriam Haffar & Cory Searcy, 2017. "Classification of Trade-offs Encountered in the Practice of Corporate Sustainability," Journal of Business Ethics, Springer, vol. 140(3), pages 495-522, February.
    5. Miguel Leiva-Brondo & Natalia Lajara-Camilleri & Anna Vidal-Meló & Alejandro Atarés & Cristina Lull, 2022. "Spanish University Students’ Awareness and Perception of Sustainable Development Goals and Sustainability Literacy," Sustainability, MDPI, vol. 14(8), pages 1-26, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. McMullen, Jeffery S. & Bergman, Brian J., 2018. "The promise and problems of price subsidization in social entrepreneurship," Business Horizons, Elsevier, vol. 61(4), pages 609-621.
    2. Kihun Kim & Zulfiquer Ali Haider & Zhenyu Wu & Junsheng Dou, 2020. "Corporate Social Performance of Family Firms: A Place-Based Perspective in the Context of Layoffs," Journal of Business Ethics, Springer, vol. 167(2), pages 235-252, November.
    3. Valentin PAUNA & Amelia DIACONU & Svetlana PLATAGEA GOMBOS & Raluca Iuliana GEORGESCU, 2022. "Banking management in the prism liquidity – profitability interrelation," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(1(630), S), pages 93-100, Spring.
    4. Bohuslav PERNICA & Pavel ZDRAŽIL, 2022. "The Dynamics Of A Policy Of Higher Local Property Taxation Applied By The Czech Local Governments: What Should Be Learned?," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2022(38), pages 144-161.
    5. Rasha Fady Ismail & Fadi Safieddine & Rawad Hammad & Mazhar Hallak Kantakji, 2022. "Towards Sustainable Production Processes Reengineering: Case Study at INCOM Egypt," Sustainability, MDPI, vol. 14(11), pages 1-25, May.
    6. Morteza Yazdani & Dragan Pamucar & Prasenjit Chatterjee & Ali Ebadi Torkayesh, 2022. "“A multi-tier sustainable food supplier selection model under uncertainty”," Operations Management Research, Springer, vol. 15(1), pages 116-145, June.
    7. Beata SLUSARCZYK & Adnan UL HAQUE, 2019. "Public Services For Business Environment: Challenges For Implementing Industry 4.0 In Polish And Canadian Logistic Enterprises," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2019(33), pages 57-76, December.
    8. Love Westin & Jacob Hallencreutz & Johan Parmler, 2022. "Sustainable Development as a Driver for Customer Experience," Sustainability, MDPI, vol. 14(6), pages 1-18, March.
    9. Amna Manzoor & Bowen Zhang & Hongguang Ma, 2023. "Knowledge-Oriented Leadership in Powering Team Performance and Sustainable Competitive Advantages through Innovation: Evidence from Higher Education Institutions," Sustainability, MDPI, vol. 15(20), pages 1-20, October.
    10. Jaroslava Kádárová & Peter Trebuňa & Laura Lachvajderová, 2021. "Model for Optimizing the Ratios of the Company Suppliers in Slovak Automotive Industry," Sustainability, MDPI, vol. 13(21), pages 1-16, October.
    11. Meena Madhavan & Mohammed Ali Sharafuddin & Sutee Wangtueai, 2024. "Impact of Industry 5.0 Readiness on Sustainable Business Growth of Marine Food Processing SMEs in Thailand," Administrative Sciences, MDPI, vol. 14(6), pages 1-26, May.
    12. Agata JURKOWSKA-GOMULKA & Kamilla KURCZEWSKA & Yuriy BILAN, 2021. "Corporate Social Responsibility In Public Administration. Case Of Polish Central Administrative Institutions," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2021(36), pages 116-133, June.
    13. Lei Wang & Brad Tuttle, 2014. "Using corporate social responsibility performance to evaluate financial disclosure credibility," Accounting and Business Research, Taylor & Francis Journals, vol. 44(5), pages 523-544, October.
    14. repec:osf:osfxxx:qmg76_v1 is not listed on IDEAS
    15. Xue Wan & Xiaoning Yang & Quaner Wen & Jun Gang & Lu Gan, 2020. "Sustainable Development of Industry–Environmental System Based on Resilience Perspective," IJERPH, MDPI, vol. 17(2), pages 1-23, January.
    16. Martin Wynn & Peter Jones, 2022. "Digital Technology Deployment and the Circular Economy," Sustainability, MDPI, vol. 14(15), pages 1-15, July.
    17. Mahdi Bashiri & Benny Tjahjono & Jordon Lazell & Jennifer Ferreira & Tomy Perdana, 2021. "The Dynamics of Sustainability Risks in the Global Coffee Supply Chain: A Case of Indonesia–UK," Sustainability, MDPI, vol. 13(2), pages 1-20, January.
    18. Szalavetz Andrea, 2018. "Sustainability-oriented cross-functional collaboration to manage trade-offs and interdependencies," International Journal of Management and Economics, Warsaw School of Economics, Collegium of World Economy, vol. 54(1), pages 3-17, March.
    19. Fracarolli Nunes, Mauro & Lee Park, Camila & Shin, Hyunju, 2021. "Corporate social and environmental irresponsibilities in supply chains, contamination, and damage of intangible resources: A behavioural approach," International Journal of Production Economics, Elsevier, vol. 241(C).
    20. Simone Carmine & Valentina De Marchi, 2023. "Reviewing Paradox Theory in Corporate Sustainability Toward a Systems Perspective," Journal of Business Ethics, Springer, vol. 184(1), pages 139-158, April.
    21. Enes Ünal & Vikash Kumar Sinha, 2023. "Sustainability trade‐offs in the circular economy: A maturity‐based framework," Business Strategy and the Environment, Wiley Blackwell, vol. 32(7), pages 4662-4682, November.

    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ibn:jsd123:v:17:y:2024:i:2:p:73. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Canadian Center of Science and Education (email available below). General contact details of provider: https://edirc.repec.org/data/cepflch.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.