The Future of Business Sustainable Development Strategies in Greek Small and Medium – Sized Enterprises
- AIOR Admin
- 9 hours ago
- 2 min read
Apostolos Goulas
University of Thessaly, Greece
Sustainable development has become a global priority for firms, countries and societies. Climate change, resource depletion, social inequalities, and regulatory reforms are reshaping expectations of business behavior, guiding companies to adopt long-term, responsible, and future-oriented strategies. Across Europe, and especially after the implementation of the European Green Deal strategy, the integration of Environmental, Social, and Governance (ESG) criteria into investment and regulatory frameworks has accelerated the need for firms to demonstrate measurable sustainability performance. This political priority can redefine the business environment especially for the small and medium sized enterprises (SMEs) that are based in European Union countries. In Greece, as for EU, SMEs play a significant role in employment, regional development and value creation. Small and medium sized enterprises are at the backbone of the economy (Yoshino and Taghizadeh – Hesary, 2019). For the Greek SMEs, new opportunities and new challenges are coming, because of the sustainability transformation that the European Green Deal and the ESG criteria adaptation. Digitalization, circular economy models, green funding instruments, and the integration of sustainability into supply chain requirements are factors that are transforming business practices and managerial thinking. The present study is focused on these challenges and how the Greek SMEs understand and implement sustainable development in their strategic orientation. How Greek SMEs interpret the importance of sustainability for competitiveness and long term resilience, in a global changing environment. Does this awareness lead into organizational change and structured strategies, or SMEs are led by instinct and luck? The methodology applied on this research is by using focus groups. This way the research captures experiences, interpretations, expectations and modus operandi of SMEs owners and managers. This method allows exploration not only of what strategies SMEs adopt, but also why they adopt them, and under which conditions they understand sustainability as a driver for future business success.
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