Contemporary Research in Business, Management and Economics Vol. 6

Organizations have an obligation not only to create wealth for their shareholders, but also to address wider stakeholder issues that are not necessarily of economic value. As organizations face stiff pressure from various stakeholders. To achieve this, environmental and social concerns are considered as pertinent issues to attain sustainability. This study investigates how stakeholder salience, based on stakeholder power, legitimacy and urgency impacts on Sustainable Supply Chain Management (SSCM) practices.

The study adopts a case study design, focusing on Safaricom, one of Africa’s most innovative telecommunication firms. This in-depth case study solicited data from management and selected stakeholders, including communities, telecoms regulators, corporate customers, and suppliers to represent different salience levels. The study used semi-structured interview protocols to solicit data which was analyzed using content analysis.

The findings revealed that the more attributes a stakeholder has, the more attention they receive and consequently the greater their influence on Safaricom’s SSCM practices. In order to effectively manage stakeholder expectations, Safaricom managers needed to determine which should be prioritized while sustaining the firm’s bottom line. Future research should be done on stakeholder salience, SSCM practices and TBL performance outcomes in diverse socio-economic contexts to explore the impact of various stakeholder interests on the cellular industry. There is also need for further study on stakeholder salience, SSCM practices and TBL performance outcomes in the food sector in Africa.

The manuscript delves into sustainable investment approaches enhancing the decentralization of corporate governance across worldwide communities. The worldwide network of economies and societies is still growing as a result of the digital industrial revolution. However, challenges related to sustainability, like disruption and climate change, have gotten worse. The involvement of multiple stakeholders is essential in addressing challenges related to sustainability in international communities. It is anticipated that multi-stakeholder cooperative and competitive schemes will be used to build sustainable communities. Sustainable global communities must reform centralized economies with top-down systems and must move toward decentralized mechanisms known as bottom-up societies. Sustainable investment strategies to support the environment, society and governance (ESG) presumably improve social welfare. This article describes that multi-stakeholders can introduce a decentralized incentive scheme into global economies and can provide mathematical expressions of sustainable investment strategies. The decentralized formulation described herein is used to evaluate the improvement of ESG initiatives by the decrease of social welfare losses. The formulation states mathematically relative relations among the investment strategies. This mathematical model explores the social welfare effects of initiatives to enhance standards, regulations, and legislation. Empirically, one finds that integration strategies have grown remarkably as a core part of social institutional reform for sustainability. It has been concluded that efforts to enhance social evaluation by those left out of market transactions significantly reduce losses to social welfare. These results may encourage efforts to lessen the disruption challenges that local communities encounter. The results presented herein are expected to be applicable for various global crises. Initiatives by which ESG can solve global crises consistently will be pursued in further research in this field.

The onset of globalization and increasing interdependence among the world nations through flows of goods, services, human resources, capital, information and culture across borders, has called for radical changes in international accounting and reporting, accepting the entire world as one economy. The IFRS convergence gained momentum all over the world and India was no exception. As the world was going global on a massive scale, the need for convergence seemed to be crucial. The ICAI is making all efforts to ensure that standards are implemented in the same spirit in which they have been formulated. The Ind AS implementation group has been making relentless efforts to make this transition smooth and effective through its various endeavors.

Aims: The fundamental objective of the study is to assess the relative growth performance of the subdivisions of the Australian manufacturing sector in a globalized environment as reflected in trade liberalization in the period 1968/69-2021/22.

Study Design:  The study involves primary data which is used to formulate figures and tables.

Place and Duration of Study: University of Western Sydney, School of Business between December 2022 and January 2024.

Methodology: Figures and tables are used as the main framework of the analysis of the study.

Results: The capital-intensive manufacturing subdivisions have exhibited a stronger growth performance relative to the more labor-intensive manufacturing subdivisions. For example, the former category is characterized by coal, petroleum and related products manufacturing and metal product manufacturing growing by 3.6 and 2,6 percent respectively compared to textile, clothing and footwear manufacturing which is representative of the latter category growing by 0.1 of one percent in the period 1968/69 -2021/22.

Conclusion: Manpower policies are required to re-train the unemployed labor emanating from the contraction of the labor-intensive manufacturing subdivisions to enhance employment prospects in the expanding capital-intensive manufacturing subdivisions.

The COVID-19 pandemic has caused an unprecedented disruption in the global economy, comparable only to the Great Depression of 1930. Many international organizations have acknowledged Vietnam as one of the most attractive investment destinations post-pandemic. Vietnam is highly esteemed by the international community for its effective pandemic containment measures, instilling confidence in foreign investors to engage in business and investment activities. Furthermore, Vietnam is categorized among the least affected countries by the pandemic, with forecasts indicating its ability to weather the global economic downturn successfully. Vietnam's appeal for foreign direct investment is growing, propelled by its competitive advantages and strategic positioning, particularly its skilled workforce and favorable business environment. Economic recovery indicators are evident, with a robust 6.72% GDP growth in Q4 2023 contributing to an annual 5.05% growth. The National Assembly has set an optimistic GDP growth target of 6.0% to 6.5% for 2024, reflecting confidence in Vietnam's economic revitalization. This study employs a qualitative research approach and addresses significant questions, such as how Vietnam can quickly overcome the impact of the COVID-19 pandemic and how Vietnam has attracted foreign FDI post-COVID-19. The paper finds that firstly, Vietnam has an effective anti-epidemic model and experience from the SARS pandemic in 2003; second, the Government has had timely policies to gradually support businesses and people to overcome the difficulties of the COVID-19 pandemic, so the economy gradually recovered and became an ideal destination for FDI from major powers; and thirdly, Vietnam's strategic location grants it unparalleled access to diverse markets and positions it as a prime location for businesses looking to establish a foothold in Southeast Asia. It concludes that a stable business environment and Vietnam's economic growth potential will make it an attractive destination for foreign investors in the future.

The digital revolution has transformed the way we live, work, and play. Digital technologies have brought immense benefits to individuals, businesses, and society as a whole. Digitalization, which is the adoption of digital technologies, has had a significant impact on the operations and activities of non-profit organizations. This paper aims to examine the effects of digitalization on non-profit organizations in terms of their communication, fundraising, and service delivery. The study draws on a review of the existing literature and analysis of case studies to provide a comprehensive understanding of these impacts.

The findings indicate that digitizing non-profit organizations has had several positive impacts including significant improvements in communication, reaching wider audiences and effective engagement with stakeholders, providing new revenue generation channels, and connecting with donors. Digitalization has also facilitated the delivery of services and reached more people in need. The paper also discussed the positive contributions that digitization can make to sustainable development, including increased efficiency, reduced resource use, new business models, increased access to education and healthcare, and improved environmental management. However, the adoption of digital technologies has also created new challenges for non-profit organizations, including the need to invest in technology infrastructure and manage data security, and privacy issues. e-waste, the digital divide, and cybersecurity challenges.

This paper provides an overview of the impact of digitalization on sustainable development and concludes with some recommendations on how to maximize the positive impacts of digitalization while minimizing the negative impacts.

The ethics kiosk project (the digital alliance for civil society) won first place in the national initiative in the Suez Canal region for the category of non-profit projects, as it is the first ERP system that combines operational and development departments and works on the governance of donations in receiving and disbursing them. It is a technical version of an ethics kiosk project which has been discussed before in a different scientific paper (Elgammal, 2023). It is the first in the Arab world to take care of all developmental and charitable aspects within the framework of the governance of administrative and accounting operations. It was presented to the Prime Minister and the Ministers (the Minister of Planning, the Minister of Social Solidarity, and many others), also the Governors (the Governors of Ismailia, Suez, and the Governor of Port said). Everyone honored and praised this project during the national initiative, it won first place in the category of non-profit projects.

In the aftermath of the civil war in Sri Lanka, the country has witnessed a significant increase in economic development, with the banking sector assuming a pivotal role in financing growth and fostering economic prosperity. This chapter investigates the importance of Corporate Governance (CG) within Sri Lanka's banking sector, recognizing its profound influence on public trust and confidence, essential for ensuring the stability of financial institutions. The chapter critically examines the state of CG development and its implications, focusing on the adequacy of regulatory frameworks provided by key legislative Acts such as the Companies Act, Banking Acts, and Securities Act and other pertinent regulations. It highlights the crucial role of a robust governance culture within the banking sector and emphasizes that banking institutions are crucial for maintaining a healthy economy. The banking industry stands as the cornerstone of Sri Lanka's economy and operates in a highly regulated environment. Banks play a critical role by taking public deposits and facilitating financial transactions for individuals and businesses, thereby contributing significantly to economic stability and growth. Given the country's past economic challenges, establishing solid governance practices within the banking sector is imperative for steering Sri Lanka towards a more resilient and prosperous future. The Central Bank of Sri Lanka (CBSL) emerges as a key player in this narrative, exhibiting continuous improvement in its supervisory capacity. Through the enforcement of stringent measures and the adoption of BASEL principles, the CBSL demonstrates a steadfast commitment to enhancing CG within the banking industry. Additionally, the CBSL has mandated a comprehensive code of CG, stressing the importance of full compliance from banks within a specified timeframe. However, despite these advancements, challenges persist in addressing CG issues within the banking landscape. This study sheds light on the scope, impact, and effectiveness of the supervisory and regulatory oversight of the CBSL, while also highlighting ongoing challenges. By critically evaluating regulatory frameworks and supervisory roles, this chapter aims to contribute to the ongoing discourse on advancing CG in the banking sector in Sri Lanka, ultimately fostering a more stable and resilient financial ecosystem.

The study aimed to investigate the influence of extraneous motivators on the performance of staff in Tanzanian microfinance institutions. Data from 98 non-deposit-taking microfinance institutions in Arusha was analyzed using descriptive statistics and Pearson Coefficient Correlation to assess the impact of incentives, rewards, and salary packages on employee performance. The findings indicated that employee incentives, prizes, and salary packages significantly influenced staff performance, emphasizing the importance of extrinsic motivators in encouraging workers to perform effectively. The study's implications for practitioners and policymakers in the microfinance industry were highlighted, emphasizing the need to enhance extrinsic incentives to motivate employees. The study also recommended further research to explore a comprehensive list of factors influencing employee performance and broaden the geographic scope beyond the Arusha region.