The incorporation of the social, environmental, and economic dimensions of sustainability in different aspects of human life and business provides a guarantee for our future. Organizations have shown a great interest in incorporating sustainability into managerial concepts, both at the strategic and operational levels. Sustainable business strategies are being implemented in many projects, which has led to a recent expansion of interest in exploring the potential of integrating sustainability dimensions in project management. With the intention of contributing to a better understanding of sustainable project management, this paper examines whether project management methodologies, applied in different sectors, support the introduction of sustainability dimensions. It also surveys the level of integration of sustainability dimensions in groups of project management processes. Considering that the incorporation of sustainability in project management poses numerous challenges for project managers, this paper examines the necessary knowledge and skills required for sustainable project management in different sectors. As part of this research, an empirical survey was conducted in project-oriented organizations from both the public and private sectors. The findings reveal that the application of project management methodologies promotes the introduction of sustainability dimensions, particularly the social aspect, irrespective of the sector, since the processes in projects managed by a specific methodology are consistent with the social elements of sustainability. In the public sector, there is a noticeable lack of knowledge of the meaning and dimensions of sustainability and, accordingly, an urgent need for project managers to gain knowledge and skills pertaining to sustainable project management.
In this paper, we assess the impact of the COVID-19 crisis on the bankruptcy risk of a sample of 100 hotel companies and, consequently, on the hotel industry in the Republic of Serbia. The assessment applies to the period, 2019–2026, with the use of the data on the financial indicators for 2015–2020. Five novel structural time-series models, which have the indicators derived from Altman’s EM Z”-score model as predictors, were used, and a new conceptual framework for assessing bankruptcy risk is provided. The framework expands the applicability of credit-risk-scoring models to multiyear predictions, and it takes into account the dynamism of the transitions of the firms among Altman’s risk zones. The predictions that were obtained when the Springate and Zmijewski scores were applied along with the Altman Z”-scores demonstrate the fair applicability of the scores for the models that are introduced here. The results of the models were confirmed by 270 artificial neural networks and they were compared to the results of the classical time-series models. The crisis started to have a negative effect on bankruptcy risk in 2020, and this effect is expected to rise until 2023; currently, in 2022, the highest number of hotel companies may be headed for bankruptcy. Amelioration in the position of the companies cannot be expected before 2024; however, even in 2026, the risk of bankruptcy will remain high when compared to the pre-COVID-19 period and, thus, the surviving companies will become more fragile to any further exogenous changes. These results provide a basis for the adaption of state-supported measures and business policies in order to withstand the crisis and to ensure sustainability.
Scholars have emphasised the importance of green settings in today’s business paradigms. Studies on green behaviour have produced a plethora of noteworthy discoveries, whether focused on financial success, individual capabilities, or development. However, despite significant growth in interest in green business practices, the relationship between individuals’ willingness and green competencies has received little attention. This article used the customised green competencies conceptual model to investigate how green skills influence organisational performance and their relationship with the willingness moment. This article developed an innovative human resource management approach to address these difficulties. A questionnaire was used to perform empirical statistical research with 516 respondents from Serbian universities. Different mathematical and statistical methodologies were used to analyse the results. The findings corroborate the suggested theoretical model, and they suggest that green competencies will influence people’s willingness to participate in green activities. This article gives new information on human behaviour and organisational effectiveness in a green atmosphere. It includes managerial and practical consequences and recommendations for businesses looking to improve their social responsibility and environmental sustainability.
The purpose of this paper is to provide an extensive empirical literature review on the relation between renewable energy consumption and economic growth. The survey included 50 papers, most of which are published in major energy journals, to ensure the high-quality review. This literature review includes period, countries, methodology and research results. Also, the survey included policy recommendation for renewable energy policymakers depending on results obtained by authors. The general observation from reviewed literature is the absence of any clear consensus regarding the relationship between renewable energy and economic growth, which can be contributed to various factors.
A B S T R A C T Objective:The paper aims to annotate how selection of equity securities can be made by incorporating sustainability into analysis, and to present review of performance evidence of such an investment strategy. Research Design & Methods:The authors reviewed the scholarly literature and contemporary research on what constitutes a socially responsible investment, what risks are associated with such an investment, and what evidence of its performance are in different markets. They hypothesized that socially responsible investments underperform non-socially aware investments. Findings: This paper provides review of relevant corporate sustainability indicators used in investment analysis. Also, this paper is trying to present evidence of a link between corporate social responsibility and shareholder value. Research of performance of socially responsible investment equity indices and funds; mostly show that they underperform conventional ones. Implications & Recommendations: This paper aims to examine existing findings on socially responsible investing, and to propose modification of corporate strategies accordingly. Contribution & Value Added: This paper provides various insights into implications when incorporating environment, social responsibility, and corporate governance into investment strategies. Article type:literature review
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