Governance of Corporate Sustainability †Free Samples to Students

Question: Discuss about the Governance of Corporate Sustainability. Answer: Introduction The rise in innovation has led to a tremendous competition among firms to diversify its products and at the same time manage its resources. Such resource management and continuous development is done by identifying the factors that influences strategy implementation (Alkaabi Dixon, 2014). Such factors are commonly grouped in terms of external and internal factors. External factors comprise of politics, economics, society, technology, legality and environment. On the other hand, internal factors comprise of investors, shareholders, employees, customers, suppliers, directors and even the CEO. The implementation of strategy is dependent on external and internal factors and there have been various researches done earlier by different authors. The purpose of this literature review is to identify the factors that influence strategy implementation in a business. Beyond the external factors, there are many competitive factors that influences business strategy, much of those are quite new in terms of technology, partnership and promotion. While considering the rationale of choosing the research topic, it can be said that business competitive environment has reached to a great level where the previous researches done by authors are considered as long-standing, and therefore for strategy implementation, new ideas are to be collected. For the literature review, the research strategy includes articles from databases such as Google Scholar and Google Search Engine, (refer to appendix 1) from where some articles are derived free and rest are bought online. The literature review will be based on the following themes and Appendix 2 shows the information of literatures used: Theme 1: External Factors Influencing Business Implementation Theme 2: Internal Factors Affecting Business Implementation Theme 3: Contingency Strategies for Successful Strategy Implementation According to Klettner et al., (2014), strategy implementation is the summation of activities in which an organization uses the organization resources for accomplishing the objectives of the strategies. The success of an organization is highly dependent proper implementation of developed organizational strategies. However, the implementation of organizational strategies is highly impacted by various internal and external factors. On the other hand, Lagat and Frankwick, (2017) opined that the success of organizational strategic implementation is extremely dependent on dynamic capabilities of organization. Moreover, organizations can better implement their developed organizational strategies through developing contingency plan (Omri et al., 2015). External Factors Affecting Business Implementation Implementation of organizational strategies is highly dependent on external factors. Moreover, such factors are completely uncontrollable and organizations need to upgrade their dynamic capabilities for coping up with such external factors. According to Joha and Janssen, (2014), organizational strategies are highly influenced through the governing rule and regulations of the government. The aim of this article is to explore the factors effecting the business strategy implementation of shared business. Moreover, changing rules of government hamper the business practice of the organizations. Furthermore, economic rationale of the countries determines the profit potential of an organization through enhancing the return of investment. In this way, it determines the investment decision of the organizations. The research paper is based on case study method, which accesses huge research information from the combination of exploratory and explanatory case studies. However, lack of adequate c ase study collection can limit the effectiveness of information in this research paper. On the other hand, Bialowolski and Weziak-Bialowolska, (2014) opined that legal factors are the most effecting external factor on business strategy implementation. The aim of the research article is to examine the influencing factors on business decision. Moreover, the increasing tax rate of one country can enhance the overall business cost of an organization. Therefore, it highly impact of the developed business strategies of an organization. The article also explored that the GDP growth rate and economic condition of a country also influence the investment decision of an organization. The research paper has used survey method through asking survey questions at the individual organizational level of polish companies. However, the research article has some limitations in the set of research questions, which has reduced the reliability of the information. Furthermore, Jankovic et al., 2016 stated that external factors define the aggregate environment, which can have both direct and indirect impact on business strategies. The hypothesis set in this research paper has explored the impact of external factors on the business implementation of organizations. As per this article, changes in Government policies immediately bring the needs of the changes in organizational policies and strategies. Apart from that, the research paper has also explored that economic environment determines the spending power of the customer, which can have major impact on the pricing strategy of an organization. Furthermore, social trends and legal barriers can also have huge impact of the strategy implementation of an organization. The research paper is based on survey method, where the information about the research topic has been collected from asking survey questions to the employees of 60 companies in Siberia. However, the limitation of the research paper is lack of access to some other factors effecting business implementation. Internal Factors Affecting Business Implementation Rajasekar, (2014) pointed out that internal factors build the foundation for the success of business strategy implementation. As per this article, effective formation of business strategies and proper communication of those strategies among the employees enhances the effectiveness of business implementation. On the other hand, the article also highlights that organizational culture also plays an important role for the success of business implementation. Moreover, collaborative, learning and supporting working environment encourage the employees towards proper accomplishment of business strategies. The research paper is based on survey method, where the survey questions were distributed among the executives in Mazoon Electricity Company for assessing the impact of internal factors on their business implementation. However, the sample data might not be sufficient for drawing effective research result. On the other hand, Mbaka and Mugambi, (2014) opined that organizational structure plays a significant role in business implementation of an organization. The aim of the research paper is to explore the factors effecting successful strategy implementation of organizations. This article demonstrates that organizational structures set the level of communication and control system of the organization for successful strategy implementation. On the other hand, the article also explores that effective leadership is also important for controlling the employees in successful strategy implementation of an organization. This research paper is based on qualitative method, where information is collected mostly from literature, articles, journals, government report and others. However, the research article has lack of access to adequate secondary sources of data, which may hamper the quality of information. Furthermore, Al-Kand opined that strategic thinking of the organizational managers is extremely important for successful business implementation. The aim of this research paper is to assess the factors influencing the business implementation process and its outcomes. As per this article, implementation of business strategies is highly dependent on high level of management involvement in business strategies. Moreover, management support and level of strategic communication leads the success of business strategy implementation. The research study is based on survey method, survey questionnaires were distributed among middle level managers of three Saudi banks. The information collected from the middle level managers may not be consistent enough to give the best research result. Contingency Strategies for Successful Strategy Implementation According to Chuah et al., (2016), successful business implementation needs huge support from the management team of an organization. Moreover, they should encourage the employees towards the success the organizational strategies and lend the credibility to the functional managers. This research paper has been conducted based on quantitative approach, where surveu questionnaires were distribute among the middle level managers of Malaysian External Trade Development Corporation service. However, the selection of sample may not be accurate, as middle level managers are always not included in strategy execution. Therefore, the information may not be accurate for reaching high quality research outcome. On the other hand, Ranjbar et al., (2014) has highlighted on the interaction among the intra-organizational factors for successful strategy implementation of organization. As per this article, organizations must understand the competitive force and analyze their competitive edge for enhancing the effective of successful strategy implementation. On the other hand, there should be proper alignment between the business strategy and organizational culture for successful business implementation. This research paper is based on quantitative method, where information has been collected from same expert of strategic management. However, lack of involvement of the experts may hamper the research outcome. Furthermore, Brookes et al., (2014) has focused on successful implementation of business strategies. This article explores that organizations need to maintain effective relationship with all their stakeholders for successful strategy implementation. Effective relationship with government can help the organizations in gaining governmental support for successful strategy implementation. This research paper is based on content analysis method. However, limited access to adequate content may hamper the quality of the research outcome. Conclusion While concluding the literature review, it can be said that both external and internal factors affect the business implementation of an organization. From the empirical research paper, it can be found that political satiability and changing government rule and regulations have huge impact on the strategy implementation of an organization. On the other hand, the economic condition of a country determines the spending power of customers, which can impact the pricing strategies of an organization. Furthermore, social trends and changing consumer preferences often impact on the product strategies of an organization. Some empirical research article has focused on internal factors of an organization, which can have huge impact on the business implementation. Moreover, the organizational culture and strategies determine the communication and involvement level of the employees in strategy implementation. Therefore, such factors are extremely important for successful business implementation o f an organization. Some research articles of the literature review have also demonstrated proper strategy of business implementation. References Al-Kand, I., Asutay, M., Dixon, R. (2013). Factors Influencing the Strategy Implementation Process and Its Outcomes: Evidence from Saudi Arabian Banks.Journal of Global Strategic Management,7(2), 5-15. Bialowolski, P., Weziak-Bialowolska, D. (2014). External factors affecting investment decisions of companies.Economics,8(11), 0_1. 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