Considering the worldwide evolutionary stage of Industry 4.0, this study wants to fill in a lack of information and decision-making, trying to answer a question about the level of preparation of Romanian Small and Medium-sized Enterprises (SMEs) regarding the implementation of the new technology. The main purpose of this article is to identify the opinions and perceptions of SME managers in Romania on the drivers and barriers of implementing Industry 4.0 technology for business development. The research method used in the study was analyzed by sampling using the questionnaire as a data collection tool. It includes closed questions, measured with a nominal and orderly scale. 176 managers provided complete and useful answers to this research. The collected data were analyzed with the Statistical Package for the Social Sciences (SPSS) package using frequency tables, contingency tables, and main component analysis. Major contributions from research have highlighted the fact that Romania is in a full transition process from industry 2.0 to industry 4.0. There was also a high level of knowledge of the new Industry 4.0 technology, and a desire to implement it in the Romanian SMEs, as well as the low level of resources needed to implement it.
Sustainability involves extending the relational framework of SMEs outside the sphere of economic activity by justifying and legitimizing actions with a social impact on the environment. Links with the circular economy are achieved through the economic and environmental dimensions and through corporate social responsibility as a component of sustainable development. The main purpose of the paper was to determine the level of involvement of Romanian SMEs in activities related to the circular economy. The sample survey conducted among SME managers offered the advantage of collecting a large amount of direct information on the activities undertaken, the size of the investments and the nature of the funding sources used over the last five years. In this descriptive research, the process of setting up a representative sample of 384 enterprises was carried out by random sampling. The major contributions of the research project are to outline the contribution of Romanian SMEs to the development of a sustainable economy through their involvement in specific activities, the size of the investments made, and the level of participation of representatives of the enterprises in courses in order to identify new sources of financing and positive solutions in order to implement the principles of the circular economy.
In today’s business environment, corporate governance and financial transparency have an impact on the performance of firms. These changes are important for understanding the widespread accessibility of relevant and reliable information regarding an entity’s financial and nonfinancial aspects. The purpose of this study was to show how the environmental, social, and governance disclosure performance of companies has gained a reputation of having a fundamental role in financial transparency and how it varies by stakeholder orientation and economic sector. In this regard, we developed a new model based on stakeholders’ perceptions to analyze the impact of environmental, social, and governance disclosure on financial transparency using the Analytic Hierarchy Process (AHP) method and select the economic sector that ensures transparency in sustainable and financial reporting. This model was applied over the 2008–2018 period to 143 companies from eight countries in the most representative economic sectors: finance, energy, and telecommunication services. Our results portray that environmental, social, and governance reporting are a company’s means of communication with stakeholders, as part of their accountability and stewardship obligations, and at the same time, they are a tool for achieving transparency regarding the financial performance of a firm. Furthermore, our findings also showed whether environmental, social, and governance (ESG) disclosures act as a vector of financial communication for enterprises, and this relationship will also be evident in their role in financial transparency.
Due to its relative contribution and growing impact in the economy, tourism can play an important role in advancing the universal 2030 Agenda for Sustainable Development, including the application of bioeconomy principles, when governed with social responsibility, following sector specific standards as the ones provided by the Global Sustainable Tourism Council. In consideration of their privileged position within the tourism supply chain the study focusses on tour operators attempting to capture their current efforts toward social responsibility and the degree to which their activities comply with the applicable criteria for sustainable tourism. For three of the most important Romanian tour operators, the study provides an inventory of concrete ongoing activities and organizational governing principles in force which demonstrates a fairly high commitment toward social responsibility. However, companies recognise that such commitment it seeks to strengthen the corporate image rather than more fundamental sustainability goals. Among respondents, awareness of social responsibility principles and themes is higher than the awareness about specific sustainable tourism criteria. Moreover, the accent falls on the organization in question and only incidentally other supply chain links are involved. Further efforts have to be deployed in order to systematically implement the relevant sustainable tourism code, but companies manifest concern about the financial outcomes of such an investment.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.