Sustainable Sourcing: a Study on the Impact of Sustainable Sourcing Practices on Firm Performance and Stakeholder Satisfaction
Year: 2024
Type: article
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.
Source: Sustainable Social Development
DOI: 10.54517/ssd2941
Authors: Paraschos Maniatis, Dimitrios Maniatis
Institution: Athens University of Economics and Business
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4404474928