With intensifying the global climate change phenomena throughout of the world as well as escalating of surroundings demands firm's operational performance is being evaluated in the context of holistic approach inclusion of economic, environmental and social proportions currently. From the prior 20 th century, eye catching change has been observed in business strategy towards sustainable perceptions-the materialization of sustainability has become intrinsic part of the companies. However, after investigating the prior literature it has come to the contemplation that readymade garment (RMG) industries as one of the major responsible sector for the environmental deterioration from manufacturing industries. Considering these affairs as burning issues, this study will expand the level of understanding about the influence of institutional pressures on sustainable business performance in the context of RMG industries of Bangladesh in the shed of institutional theory. This paper will also contend to bring a novelty about sustainability phenomena that how to face a dilemma situation between massive industrialization and go green concept by handling the pressures consistent with sustainable development goal (SDG). Most importantly during the pandemic of COVID 19, it is been observed that the organizations having high ESG ratings lower the cost of debt and equity where sustainability actions can assist to revamp economic performance while advancing public cooperation for economic growth.
Purpose: The aim of this study is to propose a conceptual framework in which performance measurement systems potentially play a role in transforming knowledge based resources, e.g., green intellectual capital for sustainable performance in this information intensive economy. The emerging relevance of sustainability creates phenomena to think about green intellectual capital, while little is known about the function of performance management systems to achieve sustainable-based performance. Theoretical framework: The underlying premise of the "contingency view" from the "fit as mediation" approach signifies that organizational systems are generated and structured by knowledge-based characteristics, which significantly influence organizational outcomes (Drazin & de Ven, 1985; Venkatraman, 1989). Design/methodology/approach: The conceptual framework articulates three components of green intellectual capital, i.e., green human capital, green structural capital, and green relational capital, from the ground of performance measurement systems adding social and environmental measures to contribute to sustainable performance (economic, social and environmental) extracted from the preceding literature. Findings: The expected results of the study suggest that green-based intellectual capital can foster business sustainability, while a quantitative method will be employed based on prior studies to extract the study's real consequences. Research, Practical & Social implications: The study may inspire senior management to exhibit how green intellectual capital is linked in internal operations for dealing with non-financial concerns for economic lineup and to bridge research gaps from different study areas into a holistic model to contribute to the literature. Originality/value: The value of the study is to give logical hints about emerging literature that green intellectual capital is significant to achieve sustainable performance. This study contributes to the sphere of accounting and sustainability by suggesting a research framework for practitioners and academicians.
Internationally, the World Health Organization (WHO) announced a public health extremity due to the outbreak of a novel coronavirus named COVID-19 in January 2020. It has been over a year since the globe was imprisoned by COVID-19, despite discovering numerous vaccines to combat the virus’s innumerable versions. With this aim, this research has organized around three themes to achieve this goal. Firstly, to explain the scenario of the influence of COVID-19 on the sustainable performance (environmental, social, and economic) of Bangladesh’s ready-made garment (RMG) industry. There has been a dramatic increase in the application of sustainable performance over recent decades, but less attention paid to developing countries, especially Bangladesh. Secondly, general online survey research has been conducted from July-August 2021 to empirically evaluate the effects of the COVID-19 crisis on the RMG industries of Bangladesh. Thirdly, the study has provided recommendations to overcome any pandemic to maintain sustainable business performance. According to the survey results, 55.9% of participants assume there will be a loss in revenue and sales volume, while 44.4 percent are concerned about employee health and an increase in waste (using PPE, gloves, masks, and so on) in the industries during COVID-19 pandemic as well as 52.8% of employees anticipate that, Bangladesh’s loss of position against Vietnam is due to an ineffective sustainable business system. However, this pandemic has proved that business organizations should be more conscious in dealing with uncertain environments while sustainable performance can be a strategic solution.
Research on intellectual capital provides compelling evidence that human capital (HC) plays a critical role individually and in conjunction with sustainable-based performance. Academics' interest in HC is growing in gravity to achieve a firm's sustainability, particularly in comparison to natural, financial, and economic capital. Both developed and developing countries emphasize HC development to speed economic growth by allocating the required time and resources. There is a multitude of information about how HC can aid organizational performance, but little endeavors on how organizations become more sustainable. With this intention, the study delineates to scrutinize by proposing a conceptual framework that how the transition to a knowledge- based economy has elevated the significance of enterprises' HC and organizational sustainability perceptions. The underlying propositions of "intellectual capital-based view theory" suggest a novel "knowledge-intensive" or "intellectual-based" framework for achieving competitive advantage or sustainability in which intellectual capital, e.g., HC, is viewed as knowledge-related resources rather than intangible assets. The proposed model may spark new research agenda on how social and environmental considerations aligned with financial performance through HC in organizations. In practice, the study can enlighten top management about the diverse role of HC in its dimensions, which is imperative in any strategic situation and consequences turn into sustainable business performance.
This study delineates insights regarding the role of the fifth pillar of the balanced scorecard approach for sustainable performance, focusing readymade garment industry of Bangladesh. Design/Methodology/Approach: The study proposes a conceptual framework from the core premise of the "fit as mediation" approach, which signifies developing and implementing specialized mechanisms, such as management accounting systems that can assist in managing information and enhance superior firm performance. Findings: The concept of the fifth dimension of the balanced scorecard approach is not novel, but the organization is still in a vague position on how to implement or measure for achieving its outputs. Originality/Value:The conceptual framework has the potential to make a valuable contribution to the current body of literature on how sustainability initiatives can be measured through specific managerial systems. Besides, the top management level will get practical guidelines about the implication of social and environmental performance measures to maintain in the long run.
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