Stakeholders’ Engagement in the Company’s Management as a Driver of Green Competitiveness within Sustainable Development

Oleksii Lyulyov, Olena Chygryn, Tetyana Pimonenko () and Aleksy Kwilinski
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Olena Chygryn: Department of Marketing, Sumy State University, 40007 Sumy, Ukraine
Tetyana Pimonenko: Department of Marketing, Sumy State University, 40007 Sumy, Ukraine
Aleksy Kwilinski: Department of Management, Faculty of Applied Sciences, WSB University, 41-300 Dabrowa Gornicza, Poland

Sustainability, 2023, vol. 15, issue 9, 1-15

Abstract: The world’s transition to green economic growth, considering the Agenda for Sustainable Development, provokes relevant structural changes in the world market. Consequently, it boosts the business sector’s ability to incorporate green dimensions into their development policies to intensify their green competitiveness in the market. In this case, it is necessary to identify the appropriate indicators that affect a company’s green competitiveness. Thus, stakeholders and management could intensify or decline a company’s green competitiveness depending on the efficiency of communication between them. The paper aims to analyze the role of stakeholders’ engagement in the company’s management in enhancing green competitiveness. The research data were compiled from a questionnaire of 75 respondents, who represent the Ukrainian company’s management. The study applies PLS-SEM to test the hypotheses of the investigation. The empirical results allow us to conclude that stakeholders’ engagement in the company’s management positively affects the company’s green competitiveness. The most statistically significant impact on the company’s green competitiveness is experience in communication with stakeholders and managing stakeholders’ conflicts, with loading factors of 0.802 and 0.806, respectively. The findings show that to improve green competitiveness, the company’s management should develop targeted stakeholder communications and extend knowledge and awareness of stakeholder interests and values. At the same time, management should incorporate stakeholders’ suggestions and recommendations when promoting a company’s green competitiveness.

Keywords: inclusive economic growth; sustainable growth; economic development; green products; communication (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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