Sustainable development goals and corporate strategy: Bridging the gap

Balukja Ina
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Balukja Ina: External Accademic Staff, Law Department, Faculty of Economy University of Elbasan “Aleksandër Xhuvani”

Academic Journal of Business, Administration, Law and Social Sciences, 2024, vol. 10, issue 2, 12-20

Abstract: This paper investigates the intricate relationship between corporate strategy and sustainable development goals (SDGs) as outlined by the United Nations. Building upon extensive literature review, the research hypothesizes that corporations can significantly contribute to sustainable development while enhancing their long-term viability through strategic alignment with SDGs. To address this hypothesis, the research poses the following research questions: How do corporations currently integrate sustainable development goals into their strategic planning processes? What are the key challenges and opportunities associated with aligning corporate strategy with sustainable development objectives? What are the most effective strategies and practices that corporations can adopt to maximize their impact on sustainable development while ensuring their own long-term sustainability? The primary objective of this paper is to provide insights and guidance for corporate executives, policymakers, and stakeholders seeking to navigate the complex terrain of sustainable development within the corporate sector. Specifically, the research aims to analyze the current state of corporate strategy with regard to sustainable development goals through a comprehensive literature review, as well as to identify key challenges and opportunities faced by corporations in aligning their strategies with sustainable development objectives. The research proposes actionable strategies and best practices for corporations to effectively integrate SDGs into their strategic decision-making processes. By synthesizing findings from the literature review and empirical research, this paper aims to contribute to both academic discourse and practical understanding of how corporations can play a proactive role in advancing sustainable development goals while ensuring their own long-term success.

Keywords: corporate strategy; regulatory framework; social responsability; stake-holder engagement; risk management (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:ajbals:v:10:y:2024:i:2:p:12-20:n:1002

DOI: 10.2478/ajbals-2024-0011

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