CHARACTERIZING SME SUSTAINABLE (GREEN) PERFORMANCE IN THE GREEN ECONOMIC TRANSITION THROUGH THE ADOPTION OF GREEN MANAGEMENT
Abstract
Green management is synonym with large organizations and its adoption would be rather new for small medium enterprises (SME) in Malaysia. Therefore, SME which has been under pressure must initiate some moves in transforming into green companies as well as to ensure their survival in the future of the green economic. Hence, this paper attempted to discuss the major influences on SME in realizing a green or sustainable performance. In order to diverge from conventional products into green products compliance, it is crucial to identify new attributes for their existing business conducts. Organizational resources and capabilities should be fully-utilized in manufacturing processes which is abided by the green principles. The built-in of sustainability concept around the business ecosystem is important and inevitable. Ultimately, the research outcome has demonstrated a total of 14 significant observed variables implementation by SME. These are the critical variables that are vital in the green practice and should become a common reason for the future business venture and our nation competitiveness. Consequently, the green economic transition manifested the SME readiness to adopt common strategies to accomplish business advantage. Therefore, overcoming the current economic setback must be in-line with the performance of a sustainable business.
Downloads
References
J. Aronson and S. Alexander, “Ecosystem restoration is now a global priority: time to roll up our sleeves,” Restoration Ecology, vol. 21, no. 3, pp. 293-296, 2013.
S. Anagol, E. Alvin and K. Dean, "Continued existence of cows disproves central tenets of capitalism?," Economic Development and Cultural Change, vol. 65, no. 4, pp. 583-618, 2017.
D.K. Nanto, The global financial crisis: Analysis and policy implications. Washington DC: Congressional Research Service, 2009.
F. Boons, C. Montalvo, J. Quist and M. Wagner, “Sustainable innovation, business models and economic performance: an overview,” Journal of Cleaner Production, vol. 45, pp. 1-8, 2013.
R. Barkemeyer, D. Holt, L. Preuss and S. Tsang, “What happened to the ‘development’ in sustainable development? Business guidelines two decades after Brundtland,” Sustainable development, vol. 22, no. 1, pp. 15-32, 2014.
T. A. Chin, H. H. Tat and Z. Sulaiman, “Green supply chain management, environmental collaboration and sustainability performance,” in Procedia - College International pour la Recherche en Productique (CIRP), Johor Bahru, 2015, pp. 695-699.
O. Zizlavsky, “Innovation performance measurement: research into Czech business practice,” in 7th International Scientific Conference, Pula, Croatia, 2015, pp. 816-838.
P. Yacob, N. S. B. Aziz, M. F. Mohamad Makmur and A. W. Mohd Zin, “The policies and green practices of Malaysian SMEs,” Global Business and Economics Research Journal, vol. 2, no. 2, pp. 52-74, 2013.
Y. Chen, G. Tang, J. Jin, J. Li and P. Paillé, “Linking market orientation and environmental performance: The influence of environmental strategy, employee’s environmental involvement, and environmental product quality,” Journal of Business Ethics, vol. 127, no. 2, pp. 479-500, 2015.
S. Hassan, S. Z. A. Nadzim and N. Shiratuddin, “Strategic use of social media for small business based on the AIDA model,” Procedia - Social and Behavioral Sciences, vol. 172, pp. 262-269, 2015.
S. Li, V. Jayaraman, A. Paulraj and K.C. Shang, “Proactive environmental strategies and performance: Role of green supply chain processes and green product design in the Chinese high-tech industry,” International Journal of Production Research, vol. 54, no. 7, pp. 2136-2151, 2016.
N. Thampradit and W. Fongsuwan, “Knowledge management, responsibility and organizational factors that affect microfinance support to Phuket, Thailand Entrepreneurs,” Research Journal of Business Management, vol. 8, no. 4, pp. 508-522, 2014.
J.J. Dziak, S.T. Lanza and X. Tan, “Effect size, statistical power, and sample size requirements for the bootstrap likelihood ratio test in latent class analysis,” Structural Equation Modeling: A Multidisciplinary Journal, vol. 21, no. 4, pp. 534-552, 2014.
D.L. Streiner, G.R. Norman and J. Cairney, Health measurement scales: A practical guide to their development and use, 5th Edition. New York: Oxford University Press, 2015.
D.J. Teece, “The foundations of enterprise performance: Dynamic and ordinary capabilities in an (economic) theory of firms,” The Academy of Management Perspectives, vol. 28, no. 4, pp. 328-352, 2014.
