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SUSTAINABLE SOURCING: A STUDY ON THE IMPACT OF SUSTAINABLE SOURCING PRACTICES ON FIRM PERFORMANCE AND STAKEHOLDER SATISFACTION
Vol 2, Issue 5, 2024
Issue release: 31 October 2024
VIEWS - 1703 (Abstract)
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Abstract
This study investigates the impact of sustainable sourcing practices on firm performance and stakeholder satisfaction across various industries. Using a quantitative approach, data were collected from 500 firms through a structured survey questionnaire. The findings reveal that sustainable sourcing practices lead to a significant positive impact on firm performance, with an average 15% increase in profitability and 20% improvement in stakeholder satisfaction scores. The regression analysis shows a strong correlation (r = 0.45, p < 0.001) between sustainable sourcing and enhanced firm outcomes. The study identifies firm size, industry type, and sustainability awareness as critical factors influencing the adoption of sustainable practices. Recommendations include integrating sustainability into procurement processes to enhance long-term performance. Future research should explore the longitudinal effects of these practices across different market conditions.
Keywords
References
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Prof. Kittisak Jermsittiparsert
University of City Island, Cyprus
