Promoting corporate sustainability through sustainable resource management: A hybrid decision-making approach incorporating social media data

Abstract

Previous studies revealed triple bottom line cannot entirely cover the concept of corporate sustainability. This study thus uses sustainable resource management (SRM) to improve corporate sustainability (CS) performance considering the socio-environmental, socio-economical, and eco-efficiency aspects. In this study, the vague set (VS) theory and the technique for order preference by similarity to ideal solution (TOPSIS) method are integrated as a hybrid decision-making tool by which social media data can be transformed into entropy weights. The results indicate eco-efficiency and society should be prioritized to improve the corporate sustainability performance. Specifically, the aspects should be promoted through encouraging environmental innovation, redesigning consumers' offer, raising support of the institutions and policy measures, and organizing synergetic involvement. The contributions of this study are three-fold: (i) establishing a comprehensive framework for guiding firms make effective improvements; (ii) developing a hybrid VS-TOPSIS method to process the assessment data and social media information and address the interrelationships; (3) identifying the decisive SRM criteria to precisely guide the Chinese automobile industry towards CS under severe resource constraints.