SUSTAINABLE COMPETITIVENESS - A STRATEGIC MANAGEMENT SHIFT OF BUSINESSES

 
Autor (i): ȚÓmbalari Carolina
 
JEL: Q01, O10, F23
 
Cuvinte cheie: sustainability, international competitiveness, sustainable competitiveness, corporate sustainability management, Corporate Knights' ranking.
 
Abstract:
The management of the modern organization is focused on overviews of the long-term economic
performance it produces in a market-driven environment. Many businesses have succeeded in balancing
profitability with sustainability by incorporating sustainability into their long-term strategic approaches: "How
we act today, we will see the result in the future". They have done this by being aware of the effects that business
sustainability has on organizational processes and performance.
According to empirical data, an organization can benefit from a competitive edge by balancing its relationship
with the environment, particularly from the perspectives of economic efficiency, social equality, and
environmental strategy. The link is complicated, though, and this study adds an overview of how these businesses
apply their strategies in the quest for sustainable competitiveness. This study is a systematic review of the
business sustainability literature and presents the world's most sustainable firms based on an examination of the
annual rankings of the most sustainable corporations for the years 2020–2022 provided by Corporate Knights'
rating. In conclusion, this paper will advance the area of management by encouraging managers and business
owners to pay attention to aspects influencing organizational sustainability that go beyond the numbers in
financial analysis.
 
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