DRIVING ORGANISATIONAL SUCCESS WITH SUSTAINABLE BUSINESS MODELS: PERCEPTION OF BUSINESS PRACTITIONERS IN SOUTH EAST, NIGERIA

Abstract

Numerous studies have demonstrated the benefits that sustainable business models offer organizations, potentially leading to a sustainable competitive advantage. The objective of this study is to examine the extent Sustainable Business Models (SBMs) drive organisational success from the perspective of business practitioners in South East, Nigeria. The study specifically examined the effect of SBMs incorporating social and environmental dimensions on enhancing corporate bottom line and information flows among multiple stakeholders. The study adopted the survey research design and a final useable sample of 81 obtained from the administered questionnaire. The data were analysed descriptive and inferential statistics. The hypotheses were tested using the Pearson Product Moment Correlation (PPMC) coefficient. The results showed that SBMs incorporating social and environmental dimensions enhance the corporate bottom line. The second hypothesis showed that SBMs incorporating social and environmental dimensions enhance information flows among multiple stakeholders. The study concludes that SBMs drive organisational success in manufacturing firms in South East, Nigeria. Based on this, the study recommends that managers should ensure that sustainability goals are aligned with the overall business strategy to drive long-term value creation. They should set measurable goals on social and environmental performance. Secondly, managers should involve key stakeholders in decision-making processes related to sustainability initiatives. Managers should establish transparent reporting mechanisms to effectively communicate the company’s social and environmental performance, goals, progress, and challenges.