Sustainable Business Development Research Articles

Exploring AI-driven solutions for Libyan agriculture: Current applications and strategic pathways

This paper aims to investigate the usability of AI in the agriculture sector for Libyan business development. The study employs an online survey with an interview with an expert to gather insights from participants operating in the agriculture sector in Libya. The survey comprises a set of questions covering various aspects related to AI adoption in agriculture business development. The collected data helped to assess the current utilization of AI technologies, identify potential areas of improvement, and explore the perceptions and expectations regarding AI's future role in Libyan agriculture. The findings provide a valuable general insight into the current state of AI adoption in agriculture sector in Libya, highlighting both the progress made and the areas where further efforts are needed to fully leverage the potential of AI technologies for sustainable and efficient agricultural practices. The finding indicated that addressing challenges related to infrastructure, data availability, and capacity building will be crucial in realizing the full potential of AI in Libyan agriculture. Collaborative efforts between stakeholders and supportive policy frameworks are essential for successful AI integration and the transformation of agricultural practices in Libya. These results help to support policymakers, businesses, and stakeholders interested in leveraging AI to enhance agricultural practices and promote sustainable business development in Libya.

Peran Jaringan Sosial dalam Kewirausahaan di Banjarmasin: Tinjauan Sistematis terhadap Keterhubungan dan Dampaknya terhadap Kesuksesan Bisnis

This study presents a systematic literature review (SLR) to explore the role of social networks in entrepreneurship within the context of Banjarmasin. The research investigates how social connections affect business success, focusing on the influence of networking in developing sustainable ventures. By analyzing peer-reviewed articles published over the last decade, the study identifies key themes, including community support, collaboration, network strength, and access to resources, which act as significant drivers for business growth. Both formal and informal networks are found to play essential roles in enhancing entrepreneurial outcomes. The findings suggest that optimizing these social networks is crucial for achieving sustainable business development. This study offers practical insights for entrepreneurs and policymakers, aiming to provide strategies that leverage local social capital for improved business performance in Banjarmasin.

Network Integration as a Tool for Sustainable Business Development

Business enterprises are required to adopt new economic models and business strategies in line with global trends such as the green agenda, the shortening of innovation cycles, digitalization (networking platforms) and socio-economic security. The models of network integrations (clusters, industrial symbioses, innovation ecosystems, etc.) are developing faster than other business models. Networking allows businesses to synergetically, based on the principles of collaboration, trust and self-organization, increase intellectual, innovative, social, and environmental values, which leads to economic growth and sustainable development. Through networking integration, the business performance of all participants in multi-company projects can be improved, regardless of their size and activities. The purpose of this study is to develop a methodological framework for assessing the synergistic effect and the level of collaborative maturity of participants in network industrial integration. This paper provides a comprehensive analysis and evaluation of network business integration efficiency. The authors’ methodology is based on the AHP hierarchy method, expert evaluation and Harrington’s level of desirability. The methodology is validated on Russian industrial integrations: industrial cluster of Nizhny Novgorod region; pipeline valve manufacturing cluster; South Ural industrial cluster producing spare parts and assembly units for roadbuilding, construction and agricultural vehicles. The results show that the level of collaborative maturity of business partners and the synergies from network integration effect the sustainability of business development. Recommendations for businesses are provided to improve their network integration and collaborative maturity. Furthermore, the findings allow the authors to define directions for further research, considering the interests of the business community, regional authorities, and financial institutions, and provide a framework for researchers to investigate the link between industrial network integration and economic growth.

Microfinance as a tool for sustainable development of small and medium-sized businesses in Kyrgyzstan

The article explores the role of microfinance in the development of SMEs in Kyrgyzstan. The authors analyze the significance of this tool for the country's economy and offer practical recommendations for its use. The results of the study emphasize the importance of the potential of microfinance in the support and development of small and medium-sized businesses, contributing to the improvement of socio-economic indicators. At the same time, state support for the activities of SMEs, in particular ensuring access to financing, including microfinance, remains one of the most pressing problems of the Kyrgyz economy, requiring an integrated approach and careful attention from the authorities.

Financial Strategies for Sustainability: Examining the Circular Economy Perspective

Circular economy (CE) research has advanced significantly in recent years in areas like environmental science, engineering, and technology. Governance presents CE strategies as imperative and compelling, often linked to efforts to achieve sustainable business development. However, the financial quantification of a CE is still underexplored and heterogeneous, with multiple research streams exploring the financial dimension. The aims of this study are twofold: (i) to analyze the productivity of the scientific literature and the conceptual evolution of circularity as it relates to financial strategies; and (ii) to formulate future research directions addressing a CE in close connection with financial sustainability knowledge. Bilbiometrix R-package 2023.12.1 and VOSviewer version 1.6.20 were used to analyze a sample of 279 articles retrieved from WoS and Scopus using the PRISMA protocol. The analysis covered the period 2010–2023, with the diachronic thematic analysis revealing four key themes: (1) CE and green financial performance; (2) environmental impact of CE; (3) performance approach of CE and metrics; (4) CE and sustainable development. Building on previous knowledge, we developed an integrated and multidisciplinary framework of CE embedded in financial performance. Future research agenda shaped by the emerging themes and research gaps can support managers, shareholders, or governance in incorporating CE policies into operational activities and strengthening sustainable circularity knowledge.

Governance of Village-Owned Enterprises in Promoting Economic Growth

background: The governance of Village-Owned Enterprises (BUMDes) plays a critical role in fostering sustainable development in rural areas. Specific background: This research explores the governance practices of BUMDes Kerto Emas, emphasizing the principles of transparency, cooperation, participation, and inclusiveness. Knowledge gap: Previous studies have not sufficiently examined how sustainable practices are implemented within the operational framework of BUMDes, especially concerning product management and website functionality. Aims: This study aims to assess the current governance indicators applied in BUMDes Kerto Emas, particularly regarding sustainability and the integration of digital platforms. Results: The findings reveal that while BUMDes Kerto Emas has made significant strides in governance, challenges remain in achieving sustainability, particularly in the underutilization of digital platforms for product display. Novelty: This study introduces a new perspective by linking sustainable business development with the need for improved online presence in village-owned enterprises. Implications: The research suggests that enhancing product offerings and optimizing digital platforms are essential for achieving long-term sustainability, providing a framework for improving governance in similar rural enterprises. Highlights : Governance principles must focus on transparency and cooperation for sustainable BUMDes operations. Digital platforms play a crucial role in enhancing product visibility and sustainability. Continuous evaluation is needed to optimize governance for long-term sustainability. Keywords: Governance, BUMDes, Sustainability, Participation, Digitalization

Analysis of BUMDes Business Development Program Implementation for Village Prosperity

The general background implementation of village-owned enterprises (BUMDes) is essential for promoting village prosperity through sustainable business development. The specific background this study specifically examines the operational effectiveness of BUMDes Sinar Mitra Gemilang within a local context. The knowledge gap despite the establishment of various business units, limited research evaluates the implementation strategies and outcomes of BUMDes programs, particularly regarding the challenges encountered during execution. The aims the aim of this study is to analyze the implementation of the BUMDes business development program, focusing on the factors influencing its success and the obstacles that hinder optimal performance. The results findings reveal that communication between BUMDes and the community is inadequate, human resources lack quantity despite being qualified, and community participation requires improvement. Additionally, the organizational structure is ineffective due to insufficient human resources. The novelty this study contributes to existing literature by applying Edward III's policy implementation theory and utilizing qualitative methods to provide insights into the practical aspects of BUMDes operations. The implications the implications highlight the need for enhanced communication, increased community engagement, and a stronger organizational framework to improve the overall effectiveness of BUMDes programs, ultimately aiming to enhance community welfare and ensure business sustainability. Highlights: Communication improves program effectiveness. Resource quality and quantity affect operations. Local government support enhances community engagement. Keywords: BUMDes, Implementation, Community Participation, Organizational Structure, Communication

Socialization on the Role of Islamic Banking in Encouraging the Progress and Development of MSMEs

Micro, Small, and Medium Enterprises (MSMEs) play a vital role in the Indonesian economy, contributing significantly to economic growth, employment, and poverty alleviation. However, limited access to financing sources that suit their needs is a significant obstacle for MSMEs in developing their businesses. This research explores the role of Islamic banking as an alternative solution in supporting the development of MSMEs. Through community service activities at SMA 1 Sidue, we delivered material on Islamic banking and developing MSMEs to 100 student participants. An interactive lecture method was used to improve understanding, followed by a discussion session to encourage active participation of the participants. The evaluation results showed an increase in students' understanding of Islamic banking, including financing products that comply with Sharia principles and the challenges and opportunities faced by MSMEs. This activity is expected to educate MSME players on the benefits of Islamic banking and strengthen their capacity to access more ethical financing. Thus, Islamic banking can be a strategic partner for MSMEs, assisting them in sustainable business growth and development.

Strategic Choice And Responsible Innovation: Integrating Approaches To Foster Sustainable Business Development

The study focuses on addressing businesses' growing need to integrate sustainability into their decision-making processes, given the recognized worldwide environmental impacts derived from industrial and technological growth. The study proposes a decision-support artifact that aligns with the Sustainable Development Goals (SDGs). In light of the principles of Design Science Research (DSR), it combines the Strategic Choice Approach (SCA), which helps manage uncertainties, with Responsible Innovation (RI) principles to guide the socially and environmentally conscious innovation process. As another novel, this artifact adopted the Borda voting system to select the best sustainable development courses of action. Data from a Brazilian solar energy company were considered to demonstrate the artifact’s application. Our results deliver a decision-making support artifact whose results serve as inputs for strategic planning for the business. These artifacts highlight the importance of collaborations for decision-making within the scope of sustainable development. This paper proposes a novel and holistic approach that recognizes peculiar aspects of managerial commitment to advancing sustainability within a business context, contributing to the literature. Managers also can apply this decision artifact to improve sustainability performance.

Стратегирование развития малого бизнеса в Российской Федерации

At the present stage of development of the Russian economy, under conditions of increasing external and internal challenges, such as sanctions and limited access to foreign technologies, there is an increasing need for the development and implementation of strategies that promote the sustainable development of small businesses. These circumstances are of particular relevance in the context of the desire to ensure economic independence and increase the competitiveness of the national economy. In this regard, this study is aimed at identifying and systematizing the basic principles of strategic management, adapted to the operating conditions of small businesses in Russia. The authors of the article focus on the theoretical foundations of strategic management, including SWOT analysis, macro-environmental analysis and strategic planning, and their applicability to small businesses. Based on an analysis of scientific literature, monographs and practical studies, the authors identified key aspects that should be taken into account when formulating development strategies for small enterprises. The article highlights and details the main practical recommendations for increasing the sustainability and competitiveness of small businesses, including adaptation to changing external and internal conditions, as well as optimal allocation of resources and innovative development. In conclusion, it is concluded that strategic planning and management, based on in-depth and comprehensive analysis, play a key role in ensuring the long-term development of small businesses in Russia.

Financial stability of companies and its relationship with corporate sustainability

Subject. This article explores the mutual influence of financial stability and sustainable development at the micro level. Objectives. The article aims to reveal the relationship between corporate sustainability and financial stability, and formalize the system of interrelated factors affecting these categories. Methods. For the study, we used general scientific methods, as well as the methods of logical, retrospective, comparative, and structural analyses. Results. Based on the analysis of the trends in the formation of multipolarity in the modern world, the article identifies the barriers created on the way to sustainable business development. It also represents a formalized system of interrelated factors of the categories Financial Stability and Corporate Sustainability, which includes groups of various factors. Conclusions and Relevance. The formalized system of factors of the categories under study clearly reflects the relationship between the financial stability of companies and the level of their corporate sustainability. The proposed system of factors provides an understanding of the groups of mutually influencing factors and will help in future research on this basis to form a system of indicators aimed at assessing the level of mutual influence of the categories Financial Stability and Corporate Sustainability. The study contributes to the development of theoretical provisions and methodologies for assessing corporate sustainability. The results can be used in the development of internal standards of organizations in terms of assessing the level of corporate sustainability.

중국 중장비 제조기업의 친환경 공급망관리가 기업성과에 미치는 영향에 대한 연구

Purpose: The purpose of this study is to empirically analyze the impact of green supply chain management (Green SCM) on corporate performance in China's heavy machinery manufacturing. Research design, data, and methodology: This study employed a survey to collect data from key Chinese companies in heavy machinery manufacturing. The questionnaire was developed through a pilot study and in-depth interviews, and the survey was conducted from April to June 2024. Data analysis was performed using SPSS 24.0 and AMOS 24.0. Results: Analysis revealed that internal environmental management, eco-design, and investment recovery inf luenced both environmental and operational performance positively. Eco-design had the greatest impact on environmental performance, while internal environmental management and investment recovery significantly contributed to operational performance. The total explained variance was 72.871%, indicating meaningful correlations between variables. Conclusions: This study demonstrates that Green SCM enables companies in the heavy machinery industry to fulfill their environmental responsibilities while improving operational efficiency. The findings highlight the importance of strengthening eco-design and internal environmental management practices for sustainable business development.

Examining the impact of green entrepreneurship drivers on sustainable development in the context of emerging country

PurposeGreen entrepreneurship (GE) is a novel concept in business and enhances environmentally friendly production and operation activities for “sustainable development” (SD). The aim of this study is to determine the drivers that contribute to the growth and success of “micro, small, and medium enterprises” (MSMEs) in the manufacturing sector in India. The study also examines the mutual and cause-and-effect relationships among these identified drivers.Design/methodology/approachThe study used integrated research methodology and identified nine key drivers of GE (GEDs) through extensive literature reviews, theoretical perspectives (i.e. “resource-based view” (RBV), “natural resource-based view” (NRBV) and “critical success factor theory” (CSFT)), and expert opinions. Further, “total interpretive structural modeling” (TISM) and “matrice d'impacts croisés multiplication appliquée á un classment” (MICMAC) analysis are used here to develop a hierarchical model and cluster the drivers, and fuzzy “decision-making trial and evaluation laboratory” (fuzzy-DEMATEL) is used to develop causal relationships among the drivers. Further, a sensitivity analysis is conducted to ensure the robustness of the results.FindingsResults indicated that green manufacturing and operation capability development, green business process management and attitudes toward developing sustainable business models significantly impacted GE and SD. The findings of this study help managers, policymakers, and practitioners gain an in-depth understanding of the drivers of GE.Research limitations/implicationsThe study considers a limited number of drivers and is specific to Indian manufacturing MSMEs only. Further, a limited number of experts from different enterprises are considered for data analysis. This study is also based on interrelationships and their relative importance based on multicriteria decision-making techniques. This study aids government decision-making, policy formulation and strategic decision-making for manufacturing businesses in achieving SD goals. In addition, this research also encourages green entrepreneurs to start eco-driven companies and facilitate the use of environmentally friendly goods to offset environmental challenges and accomplish sustainable development goals.Originality/valueThis study proposes an integrated methodology that will benefit managers, practitioners and others in developing strategies and innovations to improve and develop green practices. This study further helps with responsive, sustainable business development in various manufacturing MSMEs.

USING DIGITAL PLATFORMS FOR REPORTING IN THE IMPLEMENTATION AND EVALUATION OF ESG STRATEGIES

The article discusses modern approaches to using digital platforms for reporting and, implementing and evaluating ESG strategies. The role of environmental, social, and governance (ESG) factors in ensuring the sustainable development of enterprises and society is analyzed. The importance of implementing digital platforms for collecting, processing, and analyzing data, which allow for increased efficiency and transparency of reporting, has been proven. The main advantages and challenges facing enterprises using such platforms are characterized mainly by increasing the trust of investors and other interested parties. The use of digital platforms in reporting allows for the automation of data collection processes, integrating various sources of information into one system. This significantly reduces the risk of errors and increases the accuracy of data, which is crucial for making informed management decisions. The article also addresses the issues of transparency and credibility of reporting, which are ensured by process automation and the use of technologies such as blockchain. This helps to increase the trust of investors and other stakeholders, improve the company’s reputation, and attract additional investments. A significant advantage of digital platforms is their integration with existing management systems, which saves existing IT infrastructure investments and reduces the costs of introducing new technologies. However, implementing digital platforms is not without challenges. These include cybersecurity issues, the protection of confidential data, the high costs of implementing new technologies, and the need to adapt existing business processes to new conditions. The article presents the successful use of digital platforms for reporting in the agro-industrial sector, positively impacting management and decision-making processes. The study concluded the development prospects of digital technologies in ESG reporting and their importance for long-term economic growth and sustainable development. Integrating digital platforms into reporting processes contributes to increased efficiency, transparency, and data reliability, ensuring the sustainable development of business and society.

Action or reaction? Entrepreneurial and Market Orientation for Implementing Circular Economy Practices in German SMEs

Circular Economy (CE) is one of the most promising practices in sustainable business development and achieving climate targets. Small and medium-sized enterprises (SMEs) play a significant role in this context due to their predominance in many countries and their associated ecological impact. Although studies indicate that CE offers various environmental and economic benefits, its implementation within SMEs remains relatively low. While SMEs face multiple challenges and barriers, there remains a lack of insights into the factors that can accelerate CE practices. A promising approach to overcoming these challenges involves strategic orientations. This study examines two specific strategic orientations, market orientation and entrepreneurial orientation, and their relationship with CE implementation in SMEs. Therefore, survey data from 757 German SMEs were analysed using multiple linear regression, which resulted in multifaceted insights. Both market orientation and entrepreneurial orientation positively influence CE implementation. Market orientation and entrepreneurial orientation demonstrate varying joint relationships, with entrepreneurial orientation acting as an enabler in the mediation between market orientation and CE. This study contributes to a deeper understanding of the relationships between various factors influencing the implementation of CE practices in SMEs. In particular, it provides the basis for further research into the interplay between market orientation and entrepreneurial orientation and their joint influence on CE. Practitioners in SMEs should not only integrate market orientation and entrepreneurial orientation as a holistic approach but, more specifically, seek to establish a culture that encourages innovativeness and risk-taking and deepen further marketing efforts throughout the organization to facilitate CE implementation. This ultimately leads to ecological sustainability and financial improvements in SMEs.

Правовое регулирование добросовестных практик в сфере предпринимательства

The article deals with the peculiarities of legal regulation of fair practices in the course of entrepreneurial activity. According to the author, the maintenance of the system of fair practices is aimed at resolving the most complex issues of interaction between entrepreneurs and other participants of entrepreneurial activity. In the conditions of the modern market fair practices are considered in the context of the general problem of civil liability and sustainable business development. These problems are studied as a structural element of corporative social responsibility of business.

Enhancing small business success through effective tax management and policy optimization

The examination of fiscal practices and challenges faced by small businesses underscores the pivotal role of effective tax management in their success and growth. Tax deductions, which allow businesses to reduce taxable income by subtracting certain expenses, are essential tools that help alleviate financial pressures. Despite their potential benefits, many small business owners struggle due to insufficient tax planning and the need for meticulous financial record-keeping. The reviewed studies reveal a significant need to optimize tax policies to support small business development. For instance, proposals such as the Standard Business Deduction (SBD) aim to simplify the tax process by providing a fixed amount that can be claimed above the line, reducing the need for detailed expense tracking and potentially lowering compliance and enforcement costs. Additionally, recommendations for improving accounting practices highlight the importance of simplifying and standardizing accounting requirements to meet informational needs and enhance efficiency. Further research indicates that tailoring tax policies to specific sectors, such as agriculture, can address the unique challenges faced by small businesses in these areas. Effective tax planning and a well-organized accounting system are crucial for maximizing tax benefits and enabling productive investment in business growth. Overall, the intersection of business structure, tax systems, and accounting organization is critical for the effective operation of small enterprises. Future research should focus on refining these areas to provide solutions that support the sustainable development and prosperity of small businesses.

Does share pledging affect corporate sustainability performance? Empirical evidence from an emerging market

Using data of Chinese A-share firms between 2010 and 2021, this paper examines whether and how share pledging affects corporate environmental, social, and governance (ESG) performance. We find that share pledging by major shareholders reduces corporate ESG performance, and this finding remains robust after various robustness tests, such as addressing endogeneity issues and using alternative measures. We also find that major shareholders' share pledging inhibits ESG performance by exacerbating short-term financial behaviors such as tunneling and earnings management and suppressing sustainable investments such as green innovation, social donations, and internal control. It suggests that firms with share pledging prioritize short-term financial activities and decrease investment in sustainable development. The heterogeneity tests show that investors focusing on long-term development, effective external monitoring, and internal governance could mitigate the negative impact of share pledging on sustainability performance. Furthermore, we find that the negative influence of share pledging on ESG performance occurs mainly in the sample in which the pledged funds are invested in entities other than the focal listed companies. Based on sustainable business development, this paper contributes to the literature on the economic consequences of share pledging. These findings are valuable and motivating for regulators and investors in their decision-making.

Impact of energy saving and emission reduction policy: Empirical evidence from regional and local business in China

AbstractReducing energy intensity (EI) is essential to promoting sustainable development. The “National Energy Saving and Emission Reduction Comprehensive Demonstration Fiscal Policy” (ESERP) is the green fiscal policy adopted by China in an effort to maximize energy use and promote sustainable development. The paper analyzes the influence of ESERP on EI from regional and business standpoint. The results indicate that ESERP is effective in reducing EI, especially when it is implemented in noneastern, low administrative, and high urbanization cities. This policy effect is realized by promoting green technology innovation and enhancing industrial structural upgrading. However, ESERP enhances EI of neighboring areas around the pilot cities, especially within 200 to 400 km of the perimeter. Meanwhile, the co‐implementation of ESERP and smart city pilot policies is beneficial in reducing EI. Additionally, business strategy analysis indicates that ESERP effectively reduces EI of firms, especially in private, technology‐intensive, asset‐intensive, and heavy polluting firms. This paper provides empirical experience for optimizing green fiscal policy and promoting sustainable business development, which has significant policy guidance value and business strategy significance.

Designing a model for developing local business for rural women Iran with a sustainable development approach

This study endeavors to formulate a sustainable development-oriented model for home-based businesses catering to rural women in Guilan province. Employing a qualitative-quantitative research approach, the study is practical in its objectives and relies on survey methods for data collection. The research population encompasses two main groups: the first group involves academic professionals, scholars, and managers or experts from provincial organizations dedicated to employment and women’s issues, while the second group comprises 274 purposefully sampled individuals, including owners, managers, and women affiliated with micro-credit funds in Guilan province, selected through the snowball technique. Semi-structured interviews were conducted to gather data, and the Smart-PLS software package utilized the partial least squares (PLS) technique for advanced multivariate analysis in structural equation modeling. Evaluation of the home-based business development model for rural women, based on the coefficients of the direct path, reveals that educational (β = 0.112), social (β = 0.232), economic (β = 0.274), and policymaking (β = 0.381) variables significantly influence the sustainable development of home-based businesses (P < 0.05). Notably, the policymaking variable exerts the most substantial impact. Furthermore, the model designed for sustainable development can account for 71 percent of the variance in the dependent variable. It is recommended that the government should allocate financial resources specifically for rural women house-based businesses and policies should prioritize and actively support home-based businesses, recognizing their significant impact on rural women's economic development.