A framework for selecting optimal strategies to mitigate the corporate sustainability barriers

Publisher:
Virtus Interpress
Publication Type:
Journal Article
Citation:
Corporate Ownership and Control, 2015, 13 (1CONT4), pp. 462 - 481
Issue Date:
2015-01-01
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© 2015, Virtus Interpress. All rights reserved. This paper develops a framework to prioritize the barriers to corporate sustainability and select the strategies to mitigate those barriers by applying an optimization based analytical hierarchy process integrated quality function deployment framework with multiple case studies. This research has collected data from the textile and clothing industries (six case companies) from an emerging economy, Bangladesh. Contingency theory, resource-based view and stakeholder theory are adopted to explain the sustainability barriers and their mitigation process through optimal use of resources. The study finds that lack of awareness, lack of governance, the utility supply problem and lack of expertise are the main barriers of CS. The findings also indicate that internal and external audits regarding compliance issues and setting policies for sustainability standards are considered as highly important mitigation strategies. Finally, the study identifies the optimal mitigation strategies based on maximising the relative importance while considering savings from the simultaneous implementations of strategies and constrained resources. This study advances existing CS literature by developing a framework to prioritize CS barriers and selects optimal strategies to mitigate those barriers. The developed framework should be of interest to organisations’ decision makers (specifically in the case of apparel industry of Bangladesh) in countries which have a similar institutional context.
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