Prelims

Half Title Page

Business in the 21st Century

Title Page

Business in the 21st Century: A Sustainable Approach

Edited By

Claudia Nelly Berrones-Flemmig

IU International University of Applied Sciences, Germany

Francoise Contreras

Universidad del Rosario, Colombia

And

Utz Dornberger

University of Leipzig, Germany

United Kingdom – North America – Japan – India – Malaysia – China

Copyright Page

Emerald Publishing Limited

Howard House, Wagon Lane, Bingley BD16 1WA, UK

First edition 2022

Editorial matter and selection © 2022 Claudia Nelly Berrones-Flemmig, Francoise Contreras, and Utz Dornberger.

Individual chapters © 2022 The authors.

Published under exclusive licence by Emerald Publishing Limited.

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ISBN: 978-1-80382-788-9 (Print)

ISBN: 978-1-80382-787-2 (Online)

ISBN: 978-1-80382-789-6 (Epub)

List of Figures

List of Tables

About the Authors

Dr Ghulam Abid is Assistant Professor at the Department of Business Administration, Kinnaird College for Women Lahore, Pakistan. His research focuses on employee thriving and positive organizational scholarship. His most recent research is on examining how organizations can create a more positive environment where individuals can thrive, and how organizations benefit in terms of positive behavioral outcomes. He received his PhD from the NCBA&E.

Fouzia Ashfaq is an Assistant Professor at the Management Sciences Department, Lahore College for Women University, Lahore, Pakistan. Her research focuses on work engagement, sustainability, and positive emotions. She has been associated with university teaching for 17 years.

Elif Baykal is an Associate Professor of Management and Strategy. She is a graduate of Boğaziçi University, Political Science and International Relations. She has completed her master's degree in Istanbul Bilgi University and her doctorate in Management and Organization at Yıldız Technical University. She has more than 12 years of industry experience. She worked as a human resources manager and project manager in Turkey's leading participation banks. She is still the head of the Department of Business Administration, MBA and PhD coordinator at Istanbul Medipol University in İstanbul, Turkey. She works in the fields of positive psychology, strategy, family businesses, and organizational behavior.

Prof Dr Claudia Nelly Berrones-Flemmig is Professor of Accounting and Finance since October 2019 at IU International University of Applied Sciences, Campus Berlin. Before, she was lecturer and postdoctoral research fellow in the International SEPT Program at Leipzig University, Germany. She holds a PhD from Leipzig University, Germany (International SEPT Program), with specialization in SME Finance. She has also been Lecturer at ITESM, Mexico (Tecnológico de Monterrey). She is also international business consultant, specialized in Accounting and Finance for SMEs. Her practical and research interests are SME Finance/Financial Management, Innovative financial instruments for SMEs (particularly Fintech), and Finance of social and sustainable innovative SMEs.

Prof Dr Roland Brandtjen is Professor of Economics and Academic Head of IU's Berlin Campus. He holds a PhD in European Studies. His research focuses on European micro-nations, such as the Isle of Man, the Val d'Aran, Gibraltar or the Faroe Islands, and on regional, national, and European identity and its impact on independence movements. He studied in Germany, Spain, the United Kingdom, and Australia and has worked in Denmark, Benelux, Scandinavia, Spain, Luxembourg, Germany, Australia, and the British Isles. Roland Brandtjen lives in Berlin (Germany) and Madrid (Spain).

Anna Cabrera-Rubio is Researcher and Consultant. She is a Social Sciences PhD candidate at Tecnologico de Monterrey (Mexico), where she earned an International Relations bachelor's degree. Her research fields are corporate social responsibility, multinationals, organizational culture, and change management. She has worked as a consultant and trainer for international public and private organizations.

Luciano Nepomuceno Carvalho is a PhD candidate at the Centre of Excellence for Sustainability at Kedge Business School in Bordeaux. After completing his MBA studies in Brazil, Luciano came to Berlin, Germany, to study at the IUBH International University, where he obtained an MA with focus on Leadership and Strategy. In the past, he worked as a team leader in the consulting field, also having experience as a project manager. Among his multidisciplinary research interests, Luciano is committed to investigate and identify patterns which might justify sustainability and elasticity of business' ecosystems at various levels, supporting leaders in their strategic decision-making.

Prof Dr Francoise Contreras is Full Professor at the School of Business and Management of Universidad del Rosario (2008 to date), in Bogotá, Colombia. She is a Psychologist (Universidad Santo Tomas, Colombia), with a PhD in Psychology (Universidad Autónoma de Madrid-Spain, 2005), Postdoc from Universität Leipzig (Germany, 2017), and Master and specialist in Education (Universidad Santo Tomas, Colombia, 2000). She is Professor of Leadership, Organizational Behavior, and Research in under and postgraduate programs. She is visiting professor on those topics. Her area of research interest is organizational behavior, leadership, and social sustainability, mainly from the positive approach. Her contribution to the literature includes many research papers, mostly published in impact factor indexed journals. In addition, she had published some books and book chapters.

Prof Dr Utz Dornberger is Professor for Development Economics with special emphasis on Small and Medium-sized Enterprises and the Director of the International SEPT Competence Center (SME Promotion and Training) at Leipzig University (www.sept.uni-leipzig.de). His academic and professional focus lies primarily in innovation management in SMEs, innovation policies, promotion of entrepreneurship, and internationalization processes of businesses. Currently, he is also the Director of the Self-Management Initiative Leipzig (Entrepreneurship Promotion Program) of Leipzig University. Prof Dornberger is also the founder of in4in-Network (intelligence for innovation) promoting the cooperation between universities worldwide in the fields of technology transfer and entrepreneurship promotion (www.in4in.net).

Gustavo A. Esguerra has a PhD in Management from Universidad del Rosario and is a Psychologist and Occupational Health Specialist (Universidad Nacional de Colombia). He has an MA in Education (Universidad Santo Tomás). Gustavo is a faculty member in the School of Business and Management at Universidad del Rosario (Bogotá, Colombia). He is a Professor and researcher of organizational behavior, work-related quality of life, leadership, and business ethics.

Juan C. Espinosa is a full professor and research director in the School of Management at Universidad del Rosario in Bogotá (Colombia, South America). BA Psychology, MSc Health Psychology, and PhD Management. His research field of knowledge is related to Organizational Behavior, and his articles have been published in Scopus/WOS indexed journals.

Prof Dr Rafael Alejandro Piñeros Espinosa is Professor at the School of Management at Universidad del Rosario. He has experience in the manufacturing industry and teaching knowledge in the areas of Corporate Social Responsibility (CSR), Leadership, and Organizational Theory. He holds an MBA and a PhD in Management from Universidad del Rosario and has developed research in the areas of Responsible Leadership and CSR.

Prof Dr Christos Evangelinos, born in 1971, is currently Professor for Quantitative Methods and Economics at IU International University, Campus Berlin. In his research, he deals with questions of economic valuation in transportation, discrete choice analysis, and transport economics and policy.

Prof. Dr. Noah Farhadi is Professor of Practice in Finance at the American University in Cairo. He is a global strategy, M&A, business analysis and corporate finance professional with more than 25 years of international experience in leading and advising multinational companies in the consumer goods and automotive industries. He has designed and led corporate growth strategies for multinational investment portfolios valued at $500 million in 61 countries. Dr. Farhadi has advised global Fortune 1000 companies on exit transactions and corporate divestitures with a combined value of $6 billion.

Prof Dr Ignacio Aldeanueva Fernández is an Assistant Professor in the Department of Economics and Business Administration at Faculty of Economics and Business Studies (University of Malaga, Spain). He holds a PhD in Business Organization. He has been Visiting Professor at the Universidad Tecnológica Equinoccial (Ecuador) and Universidad del Rosario (Colombia). His research focuses on corporate social responsibility, innovation, competitive intelligence and internationalization. He has published in peer-reviewed journals; also he has published books and book chapters.

Prof Dr Cansu Hattula has completed her studies of business administration at the University of Hannover and her PhD at the University of St. Gallen. Her research interests are marketing strategy and consumer behavior. For instance, in her dissertation she has investigated how middle managers can be agents of change in a top-driven change process for a new marketing strategy. Cansu has worked in Germany, Switzerland, and the United Kingdom with different companies and institutions, such as Bayer CropScience, Deutsche Messe AG, Too Good To Go, or Cass Business School. Currently, she teaches marketing at IU International University of Applied Sciences.

Sehrish Ilyas is Assistant Professor at the Management Sciences Department, Lahore College for Women University, Lahore, Pakistan. Her research interests are ethical leadership, sustainability, and employees' DSIW (Desire to have Significant Impact through Work). She has been associated with university teaching for 13 years.

Prof Dr Kety Jáuregui is Professor of Human Resource Management and Corporate Social Responsibility, Department of Business Administration, and Director of the Master Program in People Organization and Management at Graduate School of Business, University of ESAN, Lima, Perú. He has a PhD in Management.

Prof Dr Willy Legrand is Professor of Hospitality Management at the IU International University of Applied Sciences in Germany. Over the past two decades, he has established over two dozen undergraduate and graduate courses on sustainable development in tourism and hospitality management in Europe, South and North America, the Middle East, and Asia. He is the lead author of Sustainability in the Hospitality Industry: Principles of Sustainable Operations now in its 4th edition and cochairs the HospitalityNet World Panel on Sustainability in Hospitality.

Fernando Navarro Lucena is in the PhD Programme in Economics and Business at University of Malaga (Spain). He has a Master Digital Marketing Management; a BSc (Hons) Business Management; and BA (Hons) Marketing. In the research field, he is member of the Chair of Commerce and Digital Transformation of the University of Malaga.

Imtiaz Masroor completed his bachelor degree (majoring in Finance and minoring in Marketing) and master degree (majoring in Finance) from Khulna University, Bangladesh, both with distinction. He is currently working as a Lecturer in North Western University, Khulna, Bangladesh. His research interests include entrepreneurial decision-making, internationalization of SMEs, institutions and institutional theories, institutional framework, international entrepreneurship, small and medium enterprises, entrepreneurial ecosystem, institutional voids, entrepreneurial cognition, international business, etc.

Akupe Matthew-Bolofinde holds a Master of Arts Degree in International Hospitality Management from IU International University of Applied Sciences Bad Honnef, Germany. Her research interest cuts across hospitality and sustainability matters. Through the act of excavating, mining out patterns of thought processes so to speak and making intelligible meanings of those patterns – she hopes in the process it inspires a doctorate thesis.

Marlen Mietzner received her BBA in International Business and Management from Saxion Hogeschool, Enschede, in 2019, and her MA in International Aviation Management from IU International University, Berlin, in 2021. Her research interest lies in the field of sustainable aviation.

Prof Dr Md. Noor Un Nabi is a Professor in Business Administration Discipline at Khulna University in Bangladesh. He earned his PhD in the area of International Business and Entrepreneurship from Leipzig University in Germany. He worked as a postdoctoral staff in the Centre for Area Studies (CAS) and International SEPT Competence Center at Leipzig University. He was a Visiting Professor in the International SEPT Competence Center at Leipzig University. His research areas include competence development of the SMEs for integration in global value chain, development and internationalization of technology-intensive entrepreneurship in the developing countries context, entrepreneurship and skill development for the students in the HEIs, and analysis of the ecosystem for impact and resilient entrepreneurship development.

Prof Dr Giovanni Efrain Reyes Ortiz holds a PhD in Economics of Development/International Relations, University of Pittsburgh, with graduate certificates from the Universities of Harvard; and the School of Higher Commercial Studies in Paris, France (HEC). Dr Reyes has been a Fulbright and World Bank Scholar, Director of the Latin American Economic System, and representative to the International Coffee Organization in London and worked for the Vienna International Center and the United Nations. He has been fellow researcher at Maastricht University. He was Coordinator of the Human Development Report in Venezuela. He is a Tenure, Full Professor at the Universidad del Rosario, Bogotá, Colombia.

Susy Quevedo is Senior Lecturer in Human Resource Management, Graduate School of Business, University of ESAN, Lima, Peru. She is a Senior Consultant in People Management. She holds a Master's Degree in Organization and Management of People.

Prof Dr Susanne Rank is Professor for HRM & Change Management at Mainz University of Applied Sciences, Germany. Her research focuses on sustainable HRM, Workplace CSR, Change Management, and Empowerment in modern workplaces. She edited books about Change Management & International HRM and published in peer-reviewed journals like the International Journal of Corporate Social Responsibility and Personality and Social Psychology Bulletin. As a Visiting Professor she taught at the CCU in Myrtle Beach, USA, at the University Economica in Wroclaw, Poland, and at ISCTE in Lisbon, Portugal. She coaches change managers and project leads in transformations programs of international companies.

Prof Dr José Salazar-Cantú is Professor and researcher in the Economics Department at Tecnologico de Monterrey (Mexico). He holds a PhD in Social Sciences and a Master in Economics from the Autonomous University of Nuevo Leon (UANL), as well as a Master in Management Sciences and Bachelor of Economics from Tecnologico de Monterrey. He is a member of the Researcher's National System of the Science and Technology National Council (CONACyT), level 2, and of the Mexican Academy of Evaluators (ACEVAL). He is editor and founder of Revista Estudiantil de Economia, a refereed publication from the Economics Department of Tecnologico de Monterrey.

Dr Stefan Tscharaktschiew is Assistant Professor of Transportation Economics and Policy and Urban Economics at Technische Universität Dresden, Germany. His research interests include the theoretical analysis of optimal transport tax policies and regulations, the economics of cities, and spatial urban computable general equilibrium modeling.

Preface

This book focuses on how to achieve sustainable organizations in complex business environments characterized by ongoing crises such as the COVID-19 pandemic, political conflicts, market volatility, and global warming, taking as its framework the United Nations' Sustainable Development Goals (SDGs). Against this backdrop, each chapter offers contributions from different areas in the field of business and management, such as managing talent, finance, marketing, innovation, organizational behavior, environmental issues, and corporate social responsibility. Based on the work of scholars with expertise in a wide variety of disciplines, our contribution aims to provide a framework for other researchers, practitioners, managers, CEOs, and companies to address (and thereby survive) current challenges and to equip themselves to deal effectively with the aftermath of crises. This book examines a range of topics whose common thread is how to help companies generate value for society, stakeholders, and shareholders.

Incorporating SDGs entails viewing every aspect of business strategy through the lens of global goals. Attaining these development goals is vital for the prosperity and well-being of people, societies, and enterprises and is expected to lead to 380 million new jobs being created by 2030 (United Nations, 2020). Company managers need to ensure that these new jobs are sustainable and paying a living wage, not only in their firms' immediate operations but throughout their supply chains and distribution networks, helping investors to appreciate the value that sustainable business can create.

In the face of these evolving challenges, organizations must shoulder a huge responsibility. Although some personnel are aware of the importance of their company's commitment to SDGs, many of these firms are not adapting their business practices – often because CEOs and other management leaders have encountered difficulties in aligning their business strategies with the SDGs and in adequately integrating the measures they take into sustainability reports. We sincerely hope that this book can contribute to making this task easier. Each chapter features advice, examples of best practice, theoretical perspectives, and background context that can help companies determine how they can implement SDGs in a more effective and timely way. We hope readers will find the information that our team of experts provides in the following pages to be both pertinent and practical.

Prof. Dr. Claudia Berrones-Flemmig

Prof. Dr. Francoise Contreras and

Prof. Dr. Utz Dornberger

Acknowledgments

We would like to thank everyone involved in the creation of this book. First of all, we owe a debt of gratitude to the authors of the chapters. Furthermore, we would like to thank Emerald for their interest in our book and for their painstaking supervision of the overall project, and especially to Fiona Allison, Lydia Cutmore, and Kiruthika Andappan, who have always been our most patient and understanding supporters. We are also indebted to the sponsorship of Leipzig University for the proofreading carried out by Enago, and the support of the CRAI (Centro de Recursos para el Aprendizaje y la Investigación) of Universidad del Rosario for reviewing some technical aspects of the chapters presented here. Finally, we would like to thank our universities – the IU International University of Applied Sciences, the Universidad del Rosario, and Leipzig University – for their unwavering support for our research in general and for this book project in particular. We would like to thank the DAAD (Deutscher Akademischer Austauschdienst German Academic Exchange Service) for its support through research stays in Germany which has contributed to the consolidation of collaborative academic networks, generating research products as this book.

Prof. Dr. Claudia Berrones-Flemmig

Prof. Dr. Francoise Contreras and

Prof. Dr. Utz Dornberger