Incorporating Sustainability Into Strategic Management for Maintaining Competitive Advantage

Abstract

The complex and turbulent contemporary business environment requires an understanding that considering sustainability challenges and issues in the strategic decision-making process is essential for building and maintaining a company's competitive advantage. The authors advocate that incorporating sustainability in the strategic planning process and developing sustainability strategies must be part of a company's transformation and reorientation to “a sustainability company.” They explain the interdependences between the company's sustainability orientation, institutional solutions, and instrumental specifics and emphasize the requisite holism of process, institutional, and instrumental dimensions of strategic management for maintaining a company's competitive advantage. They conclude our chapter by presenting a model of interdependence of strategic management dimensions, sustainability, and competitive advantage of a company.

Sustainability Practices and Brand Identity in City Hotels: The Moderating Impact of Guests’ Length of Stay

“…Kealy (2019) suggests TBL sustainability reporting enhances tangibility, aiding hotels and tourism businesses in comprehensively assessing and communicating sustainability efforts. Moreover, Do (2020) advocates integrating sustainability into strategic management for gaining a competitive edge. Scholars use the TBL to conceptualize hotel performance metrics, defining sustainability performance across economic, social, and environmental dimensions (Elzek et al, 2021).…”