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Sustainable Development and Business Strategies: An Exploratory Study of Greek Businesses

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  • Spyridon A. Bafas

    (Department of Business Administration, University of Piraeus, 185 34 Pireas, Greece)

  • Alexandra P. Alexandropoulou

    (Department of Business Administration, University of Piraeus, 185 34 Pireas, Greece)

  • Andreas E. Fousteris

    (Department of Business Administration, University of Piraeus, 185 34 Pireas, Greece)

  • Eleni A. Didaskalou

    (Department of Business Administration, University of Piraeus, 185 34 Pireas, Greece)

  • Dimitrios A. Georgakellos

    (Department of Business Administration, University of Piraeus, 185 34 Pireas, Greece)

Abstract

The purpose of the present study is threefold: (a) it examines how Greek businesses perceive the concept of sustainability, (b) it investigates the implementation of sustainable development practices in Greek businesses, and (c) it examines if there is a correlation between sustainable development practices adopted by businesses and the competitive advantage of businesses. Furthermore, reference is made to concepts like sustainability, the Triple Bottom Line (TBL), and Sustainable Development Goals (SDGs). In addition, the TBL for sustainable business practices and the viability of measurement systems are examined. For this study, a survey was conducted using a questionnaire composed of five sections, which was addressed to Greek companies operating in various sectors. A total of 150 questionnaires were sent out and responses were received from 34 enterprises. An analysis of the data from field research confirms that Greek companies perceive sustainability as a transformation catalyst for businesses and have adopted sustainability practices. Furthermore, there is a moderate correlation between the economic and social pillar of sustainability and the competitive advantage of organisations. The study aims to provide a deeper understanding of factors that influence the adoption of sustainable practices in Greek enterprises.

Suggested Citation

  • Spyridon A. Bafas & Alexandra P. Alexandropoulou & Andreas E. Fousteris & Eleni A. Didaskalou & Dimitrios A. Georgakellos, 2023. "Sustainable Development and Business Strategies: An Exploratory Study of Greek Businesses," Businesses, MDPI, vol. 3(3), pages 1-19, August.
    • Handle: RePEc:gam:jbusin:v:3:y:2023:i:3:p:27-459:d:1215322
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    2. Antonios Kargas & Eleni C. Gkika & Anastasios Sepetis, 2024. "Exploring Digital Transformation Intensity and Its Relationship with Sustainability: Greek Managers’ Perspectives," Sustainability, MDPI, vol. 16(14), pages 1-19, July.
    3. Sergiusz Pimenow & Olena Pimenowa & Piotr Prus, 2024. "The Impact of Business Model Sustainability on the Financial Performance of Ukraine’s Leading Companies Before the Military Conflict," Sustainability, MDPI, vol. 16(22), pages 1-14, November.
    4. Barbara Mazur & Anna Walczyna & Weronika Wilczewska, 2024. "Sustainable Business Model Implementation in Polish Enterprises," Sustainability, MDPI, vol. 16(15), pages 1-15, July.
    5. Anna Stasiuk-Piekarska & Małgorzata Hordyńska & Monika Michalska, 2024. "The Usefulness of Cleaner Production Projects as an Element of the Initial Assessment of the Circularity of SMEs in the Context of Obtaining Funds Supporting the Implementation of the Circular Economy," Sustainability, MDPI, vol. 16(12), pages 1-17, June.

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