Dr Rashed Khan M.R.Khan3@salford.ac.uk
Lecturer International Business & Market
Abstract
Sustainability emerges as a critical focus of the business organization in the global market. It is driven by the awareness of ESG factors among the stakeholders. Due to the greater accountability demands of sustainable practices, the firm started to integrate sustainable practices into their operational strategies. The beneficiaries of adopting sustainable strategies are cost-saving, high sales, consumer loyalty, and profitability. The present study investigated the prevalence of sustainable stratagems in the firms as well as the correlation of sustainable practices and financial performance. In addition, the factors impacting the association of sustainable practices and financial performance are illustrated. A quantitative methodology research approach was applied, and data were collected from 200 top management employees of Bangladeshi firms using a purposive sampling technique with the aid of a structured questionnaire. The quantitative data were analyzed using the SPSS tool version 23 package through performing ANOVA, frequency, and correlation analysis. The outcomes of the study revealed that the firms are establishing sustainable practices, likely reduction of carbon footprints, water conservation practices, and the employee training program for sustainability. The research study implies that there are challenging factors, likely resource deprivation, financial pressure, regulatory compliance, and inadequate knowledge of employees impact sustainable practices. Overall, the study recommends effective implementation of sustainable stratagems in order to acquire long-term financial growth through amalgamation of ESG factors and the operation process.
