Performance Management of Supply Chain Sustainability in Small and Medium-sized Enterprises Using a Combined Structural Equation Modelling and Data Envelopment Analysis

Although the contribution of small and medium-sized enterprises (SMEs) to economic growth is beyond doubt, they collectively affect the environment and society negatively. As SMEs have to perform in a very competitive environment, they often find it difficult to achieve their environmental and social targets. Therefore, making SMEs sustainable is one of the most daunting tasks for both policy makers and SME owners/managers alike. Prior research argues that through measuring SMEs’ supply chain sustainability performance and deriving means of improvement one can make SMEs’ business more viable, not only from an economic perspective, but also from the environmental and social point of view. Prior studies apply data envelopment analysis (DEA) for measuring the performance of groups of SMEs using multiple criteria (inputs and outputs) by segregating efficient and inefficient SMEs and suggesting improvement measures for each inefficient SME through benchmarking it against the most successful one. However, DEA is limited to recommending means of improvement solely for inefficient SMEs. To bridge this gap, the use of structural equation modelling (SEM) enables developing relationships between the criteria and sub-criteria for sustainability performance measurement that facilitates to identify improvement measures for every SME within a region through a statistical modelling approach. As SEM suggests improvements not from the perspective of individual SMEs but for the totality of SMEs involved, this tool is more suitable for policy makers than for individual company owners/managers. However, a performance measurement heuristic that combines DEA and SEM could make use of the best of each technique, and thereby could be the most appropriate tool for both policy makers and individual SME owners/managers. Additionally, SEM results can be utilized by DEA as inputs and outputs for more effective and robust results since the latter are based on more objective measurements. Although DEA and SEM have been applied separately to study the sustainability of organisations, according to the authors’ knowledge, there is no published research that has combined both the methods for sustainable supply chain performance measurement. The framework proposed in the present study has been applied in two different geographical locations—Normandy in France and Midlands in the UK—to demonstrate the effectiveness of sustainable supply chain performance measurement using the combined DEA and SEM approach. Additionally, the state of the companies’ sustainability in both regions is revealed with a number of comparative analyses

A system dynamic approach for exploring the effects of climate change risks on firms' economic performance

A number of studies have recently examined the potential relationships between climate change and the business community. The majority of such studies have emphasized statistical and benchmarking techniques to identify how climate change could have implications on firms' operations and their economic performance. These techniques draw primary data from questionnaire surveys and corporate environmental reports in an ex post basis, a fact that provide evidence in a linear, probabilistic and static character. These studies have provided limited insights regarding the future complex effects of climate change on corporate economic performance. This paper aims to contribute to this literature by developing a dynamic model to investigate the evolutionary trends of the relationships between climate change risks, financial performance and the operational processes of firms. The main scope is to identify how physical, regulatory, reputational and litigation risks will affect day-to-day operations. An integrated model will be established in order to improve managers' and academics' understanding of climate change and business performance. Four scenarios will also be tested to illustrate “what if” relationships in the presence of climate change risks. Finally, the proposed model is based on the corporate climate change management, system thinking, system dynamic and Stella software

Coping with floods: impacts, preparedness and resilience capacity of Greek micro-, small- and medium-sized enterprises in flood-affected areas

Purpose: This paper aims to investigate aspects of flood experience, attitudes and responses of micro-, small- and medium-sized enterprises (MSMEs) in Greece and to indicate a typology of strategies associated with their relative effort to build flood resilience capacity. Design/methodology/approach: A qualitative study protocol was used, based on pertinent literature that considers how business entities withstand, adapt and/or recover from non-linear climate change impacts, natural hazards and extreme weather. Data was obtained by conducting semi-structured interviews with 82 MSMEs’ owners-managers who had recently experienced flooding. Findings: The study reports limited activities of MSMEs towards flood resilience capacity despite the threat of relevant disasters. Findings suggest that most owners-managers of these enterprises are not adequately preparing their businesses for the impacts of flooding. Research limitations/implications: The findings call for multi-level and dynamic perspectives to be examined in assessing MSME resilience capacity to floods. It is attitudinal, managerial, organisational, behavioural and regulatory (as well as other institutional) factors that merit further investigation. Such an investigation would allow a better understanding as to whether these factors hinder or enable conditions for microeconomic flood preparedness and resilience as well as how they may interact with each other or create feedback loops. Practical implications: The study carries managerial implications and policy recommendations in terms of nurturing opportunities towards awareness-raising campaigns for reducing deficits in managerial knowledge and competencies. It also encapsulates practical implications in terms of emphasising supporting mechanisms from key institutional stakeholders to allow MSMEs scan available options they have in effectively reinforcing the business premises from the forces of rising waters. Originality/value: Most of the related studies have examined flood impacts, responses and/or resilience capacity at the household- or community-level. Empirical work that is conducted to ascertain how MSMEs cope with flooding remains thin on the ground. In response to this, the current study and the typology of MSMEs’ strategic postures that are suggested seek to contribute to this under-researched topic

The effects of economic, environmentally and socially related SDGs strategies of banking institutions on their customers’ behavior

The financial sector is considered either directly or indirectly responsible for a number of economic, environmental and social problems. Although this view has been long held, it became especially so after the financial crisis of 2008 when the sector was heavily blamed for economic and social problems. To address such problems, banking institutions have adopted sustainability and CSR management practices, while also recently approached such practices through the 17 Sustainable Development Goals (SDGs) set by the United Nations. These practices, in addition to fulfilling the banking sector's duty to society and economy, should also be a good sign to customers who want to reward banks with better performance in the SDGs. This article examines the effects of SDG practices of banking institutions on their customers. By utilizing a PLS-SEM technique, a conceptual model has been developed to describe the potential relationships between customers and the banking institutions that adopt the SDGs. This model was tested by utilizing a sample of 980 customers of Greek banking institutions. The findings show that economic and socially related SDGs had an impact on bank customers trust, fair pricing, image and loyalty

Incorporating social indicators of sustainability in public policies for environmentally degraded areas: the case of the Asopos River

This chapter will discuss the incorporation of sustainability indicators in the formation of public policies. We will focus specifically on policies that aim to tackle environmental degradation from the industry sector with subsequent socio-economic consequences for the local community and will analyze the area of the Asopos River in Greece as a case study. </jats:p

Investigating benefits from the implementation of environmental management systems in a Greek university

Higher Education Institutions (HEIs) can contribute significantly to the achievement of environmental sustainability through teaching and research activities, and also through improvements in the environmental management of University estates. This article explores the results of implementing Environmental Management Systems (EMSs) in a HEI in Greece. Specifically, the results of two surveys, focusing on students’ perceptions in the University of the Aegean, are presented and analysed. The surveys were conducted prior and after the implementation of an EMS in the University. The survey results demonstrate several positive consequences from the implementation of EMS across the University campus. In particular, there is a positive influence on students’ environmental awareness and behaviour, accompanied by greater preference among them for more participatory environmental management initiatives

Introducing fundamental accountability principles in sustainability reporting assessment: A cross-sectoral analysis from the Greek business sector

In recent years, sustainability reports have been gradually adopted by businesses and organizations in order to enhance their preparedness, competitiveness, and ability to adapt to a rapidly changing world. The aim of this study was to assess the comprehensiveness of 44 Greek companies’ corporate social responsibility (CSR) reports published in 2016. For this purpose, an evaluation methodology was developed in line with the accountability reporting principles suggested by the Global Reporting Initiative (GRI)-G4 guidelines for preparing and publishing sustainability reports. The overall findings indicate moderate levels of satisfaction as the sample Greek firms performed adequately at embedding the GRI reporting principles into their corporate disclosures. Most firms’ integration of the “accuracy” and “reliability” principles was poor. Emerging from the latter outcome, together with the low integration of some materiality issues, are problems of transparency, credibility, balance, and completeness related to the publishing of CSR reports. It is likely that operational features such as type, size, and sector have the potential to influence the style and comprehensiveness of reports. © 2020 Wiley Periodicals LL