Environmental, social, and governance (ESG) integration as a socially responsible investment (SRI) from a financial perspective has been discussed extensively. However, few studies discuss its impact on firms’ internal operations from the perspective of sustainable development (SD). This study aims to examine the integration of ESG into the currently prevailing business model. Twenty-nine studies were systematically reviewed. Our analysis used an input–process–output model to identify the integration process and the outcomes. The findings show that only two papers explain the implementation steps or transition process of ESG integration, while 27 papers discuss ESG integration as an outcome, including integration behaviors, advantages, practices, and critical views. Our research aims to highlight that firms adopt ESG as a response to pressure from financial markets rather than as a serious effort to integrate sustainability into their core operations. We state the need for more research into the integration process to motivate firms to reform their business models, foster sustainability, and enhance financial performance.
Design science methodology was used to develop and test a University-based Venture Gestation Program (UVGP), the model built after identifying key problems and reactions to them in student based gestation ventures. The model relied on a three-year longitudinal comparative case study of a successful and an unsuccessful student venture team. The teams came from the same university and were winners of business plan contests in 2012 and 2013. Although the teams were very similar to begin with, analyses revealed that different responses to three shared problems were key determinants of venture gestation success, and failure. Based on these observations, three design principles, termed tenure, competence compatibility and entrepreneurial bricolage, were adapted to derive a solution model, the Venture Gestation Model (VGM), with the aim of improving chances of venture success. To develop the model, the study drew on dynamic capability theory, and subsequently yielded the UVGP which provided concrete tools (prescriptions) toward gestation venture success. As a means of testing the designed solution, an evaluation of the program was conducted by observing the gestation venture of the 2014 winner of the annual contest. Findings show that gestation success depends more on the effectiveness of the program in increasing awareness of internal problems than on reactions to external changes. However, the prescription on competency development requires revision to overcome inadequacy issues.
This paper explores how organizational processes are recreated following their destruction in unexpected disasters. It applies the notion of an organization as a capital conversion and capital creation system. It also focuses on systems resilience, the measure of a system's persistence and ability to absorb disturbances while reconstructing relationships between system entities.Based on the analysis of empirical evidence collected from the Great East Japan Earthquake disaster in 2011, we propose a resiliency model incorporating a broader interpretation of the notion of capital. The model consists of five dimensions of capital: economic, social, symbolic, human, and organizational. Once a given capital is destroyed together with its creative organizational processes, communities will attempt to regain resilience by compensating with other dimensions of capital.Analyses demonstrate the importance of recreating organizational capital that coordinates capital conversion and recreation processes to meet the vital need of the residents. Examining this process of capital conversion and creation enables us to extend the notion of resilience.
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