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Impact of Strategical Sustainability on Real Estate Industry’s Sustainability Performance

Author

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  • Sanchaniya Rashmi Jaymin

    (Department of Civil Construction and Real Estate Economics and Management, Riga Technical University, Riga, LATVIA)

  • Geipele Ineta

    (Department of Civil Construction and Real Estate Economics and Management, Riga Technical University, Riga, LATVIA)

Abstract

The primary aim of this research is to investigate the relationship between strategic sustainability and firm success within the real estate sector. Specifically, it aims to assess how strategic sustainability factors, notably business strategy and management, influence sustainability performance. By exploring this uncharted territory, the study seeks to provide insights into the role of strategic sustainability in enhancing an intangible value in terms of sustainability performance. Through quantitative data gathered from the Latvian real estate industry, the research study demonstrates that greater emphasis on business strategy efforts and activities is positively associated with improved sustainability performance. Moreover, it establishes a correlation between enhanced management practices and higher sustainability performance. Ultimately, this research contributes to our understanding of how strategic sustainability can drive the long-term sustainability and success of real estate businesses, benefitting regions, nations, and the global community.

Suggested Citation

  • Sanchaniya Rashmi Jaymin & Geipele Ineta, 2024. "Impact of Strategical Sustainability on Real Estate Industry’s Sustainability Performance," Foundations of Management, Sciendo, vol. 16(1), pages 59-66, January.
    • Handle: RePEc:vrs:founma:v:16:y:2024:i:1:p:59-66:n:4
    DOI: 10.2478/fman-2024-0004
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    References listed on IDEAS

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    1. Laura Tupenaite & Arturas Kaklauskas & Irene Lill & Ineta Geipele & Jurga Naimaviciene & Loreta Kanapeckiene & Linda Kauskale, 2018. "Sustainability Assessment of the New Residential Projects in the Baltic States: A Multiple Criteria Approach," Sustainability, MDPI, vol. 10(5), pages 1-21, May.
    2. Akindayomi, Akinloye & Amin, Md Ruhul, 2022. "Does business strategy affect dividend payout policies?," Journal of Business Research, Elsevier, vol. 151(C), pages 531-550.
    3. Aisma Linda Kiesnere & Rupert J. Baumgartner, 2019. "Sustainability management emergence and integration on different management levels in smaller large‐sized companies in Austria," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 26(6), pages 1607-1626, November.
    4. Chrisna Du Plessis, 2007. "A strategic framework for sustainable construction in developing countries," Construction Management and Economics, Taylor & Francis Journals, vol. 25(1), pages 67-76.
    5. Nuttaneeya Torugsa & Wayne O’Donohue & Rob Hecker, 2013. "Proactive CSR: An Empirical Analysis of the Role of its Economic, Social and Environmental Dimensions on the Association between Capabilities and Performance," Journal of Business Ethics, Springer, vol. 115(2), pages 383-402, June.
    6. Rupert J. Baumgartner, 2014. "Managing Corporate Sustainability and CSR: A Conceptual Framework Combining Values, Strategies and Instruments Contributing to Sustainable Development," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 21(5), pages 258-271, September.
    7. Laura Tupenaite & Irene Lill & Ineta Geipele & Jurga Naimaviciene, 2017. "Ranking of Sustainability Indicators for Assessment of the New Housing Development Projects: Case of the Baltic States," Resources, MDPI, vol. 6(4), pages 1-21, October.
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    More about this item

    Keywords

    strategic sustainability; construction management; real estate industry; business strategy;
    All these keywords.

    JEL classification:

    • C39 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Other
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • M0 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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