FM - Sustainability

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A bibliometric analysis of a four-construct framework: internationalization, business strategies, digital technologies (AI, blockchain, cloud computing), and digital transformation
(Tritonic, 2023-10) Biea, Elena Adriana
In the dynamic business landscape of 2023, the rapid adoption of digital tools and technologies, including ChatGPT 4 and advanced AI software, is reshaping companies' operations and strategies. This article focuses on the profound impact of these advancements on internationalization efforts. The integration of AI applications empowers businesses to enhance efficiency, optimize decision-making, and drive innovation, particularly in the context of global expansion. Cloud computing plays a pivotal role by offering scalable infrastructure and adaptability to changing market conditions. Additionally, blockchain technology ensures secure and transparent cross-border transactions, bolstering businesses' confidence in international markets. Through real-world case studies and research insights, this article highlights the transformative influence of AI, cloud computing, and blockchain on business strategies, emphasizing their potential to drive operational excellence, foster innovation, and facilitate global expansion. It provides valuable guidance for navigating the digital transformation era and seizing international opportunities. This research employs an extensive literature review to examine the intersection of internationalization, business strategies, digital technologies (AI, blockchain, cloud computing), and digital transformation. Additionally, a bibliometric analysis utilizing VOSviewer is conducted to visualize and analyze the co-occurrence of keywords related to these four concepts, providing insights into research trends and relationships within the field.
Adopting sustainability and digital transformation in business in Romania : a aultifaceted approach in the context of the just transition
(Editura A.S.E., 2022) Pînzaru, Florina; Dima, Alina; Zbuchea, Alexandra; Vereș, Zoltan
This study investigates the many facets of sustainability and digital transformation in business in the context of the fair transition, which will generate multiple challenges and opportunities for companies in various industries. In such a context, a solution to increase resilience and adapt to the fair transition can be identified in the lessons learned by companies due to the application of sustainability and digitization and by understanding the various elements underlying these dimensions. Thus, in order to identify the various elements of this complex framework in practice, based on a semi-structured narrative review of the literature and quantitative analysis, exploring aspects such as the reasons and catalyst factors of the adoption of sustainability and digitalization in companies, the interpenetration of the two concepts in the practice of companies (in production, innovation, customer relationship, logistics, etc.), as well as the associated opportunities and challenges. The research bridges a gap in the academic literature, highlighting the relationships between the digital transformation of business and the adoption of sustainability in companies as a conducive basis for responding to the challenges of the just transition. The analysis details the dimensions of sustainability and digital transition in business in an exploratory model made using structural equations through SmartPLS software applied based on a quantitative study to which 154 professionals, executives, and managers, responded, from local and multinational companies, in different fields of activity. The results obtained after processing 128 valid answers out of the initial 154 are relevant both for the theoretical understanding of the challenges and the practical benefits associated with the digital transformation of business in the context of the development of sustainability strategies. Future lines of investigation are also highlighted.
Barriers to reaching sustainability in the fast fashion industry
("Stefan cel Mare" University of Suceava, 2024-01) Pătruți, Petra
The fast fashion industry is one of the most polluting industries, and unfortunately, not a lot of viable solutions have been found till this moment. Nowadays, we are noticing more and more fashion campaigns that include a sustainable message, though we are still talking about a lot of environmental and social problems caused by this industry. However, finding innovative ideas starts with identifying the potential barriers that the industry is facing to better understand the actual state of the industry regarding sustainability from both the consumer and organization points of view. The following structured literature review is trying to create a whole picture of the sustainability barriers that the fashion industry is facing, and as we are talking about a highly competitive industry, constant research is needed. The main implications of this study are the ability to better comprehend what hinders the path to a more sustainable future nowadays. Still, to this day, little research has been conducted on the always-evolving challenges of sustainability. More research is needed for companies and consumers to adapt to the shift that is already happening, and the contribution of the paper will likely generate innovative strategies and solutions toward a greener future from both sides of view.
Before and after the outbreak of Covid-19 : linking fashion companies’ corporate social responsibility approach to consumers’ demand for sustainable products
(Elsevier, 2021-09) Vătămănescu, Elena Mădălina; Dabija, Dan Cristian; Gazzola, Patrizia; Cegarra Navarro, Juan Gabriel; Buzzi, Tania
The current exploratory endeavour sets out to scrutinize the relationships between the corporate social responsibility (CSR) approach of fashion companies, their strategic CSR communication, corporate reputation, and consumers’ propensity towards buying sustainable products. The study elaborates on consumers’ perspective on these variables, comparing two-time frameworks, before and after the outbreak of the COVID-19 pandemic. The empirical research was performed on 977 Millennials and Gen Zers, thus extending previous studies based on the generational theory. Emphasis was placed on the fashion sector as one of the industries most challenged by the pandemic, with Italy being one of the most affected European countries. Scrutiny relied on a questionnaire-based survey; data being processed via structural equation modelling (SEM) technique. The findings reveal that consumers attach great importance to the social and environmental sustainability practices applied by companies (i. e., circular economy issues, location of apparel production, organic production of raw materials, pollution generated during production, respect of workers’ rights and health, and use of recycled materials) and to the attributes of targeted products, even since the spread of the virus. The empirical evidence has substantive implications for scholars, professionals, and companies, urging that sustainability priorities are critical to favourable consumer behaviour, and implicitly to business survival.
Closing the gap between museums and schools
(Sciendo, 2022-12-12) Zbuchea, Alexandra; Ivan, Loredana; Timofte, Mona Silvia; Iordan, Iulia
Museums’ roles are diversifying considering their dynamic relationships with the present-day economy, society, and communities. Nevertheless, education is the main constant marketing museums’ complex activities. An important part of the educational mission of museums is designed with and for teachers and their students. Nevertheless, these partnerships are complex and they need more understanding for designing more effective educational programs. Having this in mind, the present study analyzes the way primary-school teachers in Bucharest, Romania, interact with museums and how they use their collections as educational resources in class. The qualitative investigation implemented shows that there is a high potential for partnership and teachers need more guidance and cooperation opportunities coming from museum educators and curators.
A context-driven approach on coping with COVID-19 : from hiding knowledge toward citizen engagement
(Wiley, 2021-01) Cegarra Navarro, Juan Gabriel; Vătămănescu, Elena Mădălina; Martínez Martínez, Aurora
The current study sets out to investigate the relationships among three interconnected dimensions, that is hiding knowledge by the Government, the realized absorptive capacity (RACAP) and citizen engagement, giving way to a context-driven approach. Emphasis is laid on the effects engendered by the lack of official information transparency in the critical context of COVID-19 outbreak at the global level, through the lens of the Spanish example. The relationships among the variables are analyzed by means of an empirical study conducted with 151 Spanish subjects with a view to identify whether the impact of knowledge hiding by the Government on citizen engagement can be mitigated and to acknowledge how the presence of RACAP impacts citizens in limiting the spread of COVID-19 information disorders.
Crude oil futures to manage the price risk of textile equities : an empirical evidence from India
(The National Research-Development Institute for Textile and Leather (INCDTP), 2022) Kumar, B. R. Pradeep; Kumar, K. Abhaya; Pinto, Prakash; Hawaldar, Iqbal Thonse; Spulbar, Cristi; Birău, Ramona; Anghel, Lucian Claudiu
The textile sector in India is the oldest manufacturing sector. As the raw materials for this sector are sourced from the petrochemical industries, the earnings of Indian textile companies are dependent on the crude oil price. The crude price in the international market has become more volatile and hence, the equity price of Indian textile companies has become more volatile. This study aims to develop two price risk management strategies for Indian textile equities. Using the vector autoregressive (VAR) model, a price forecast model, further the possibility of cross hedge for textile equities with the help of crude futures is examined using the Granger causality test and Pearson correlation statistics. The results of the study showed that crude futures price in India is one of the price determinants of textile industry stock prices.
Exploring the ESG surge : a systematic review of ESG and CSR dynamics
(Bucharest University of Economic Studies, Faculty of Management, 2024-05) Oprescu, Claudia; Marcu, Roxana Mihaela
Corporate Social Responsibility (CSR) has been a focal point in academic research for years, examining its implications on corporate governance, stakeholder relationships, corporate motivation, and financial performance. While CSR traditionally aimed at ethical commercial success and stakeholder engagement, recent shifts, notably accelerated by the COVID-19 pandemic, have led to a waning interest in CSR in favor of Environmental, Social, and Governance (ESG) practices. This transition signals a broader reevaluation of corporate roles and priorities, underscored by the pandemic's disruptions. ESG, with its focus on sustainability and responsible business practices, emerges as a successor to CSR, as evidenced by increasing internet searches and corporate resource allocation towards ESG initiatives. Industry leaders, such as former Unilever CEO Paul Polman, advocate for ESG, asserting its centrality in modern responsible business practices. This article explores the evolving landscape of CSR and ESG, highlighting the conceptual relation between ESG and CSR in the transition towards purpose-oriented business models.
Fashion joining online gaming and the Metaverse
(Sciendo, 2023-07) Pătruți, Petra; Zbuchea, Alexandra; Pînzaru, Florina
In an era when targeting younger generations becomes more and more challenging, and classic fashion is starting to be seen as being outdated, the Metaverse and online gaming has attracted fashion brands' interest. Increasingly more fashion brands, such as Nike, Vans, Gucci, Supreme, Forever 21, Ralph Lauren, and NASCAR, are being present in the Metaverse and online games. The purpose of the study will be to bring some light on how the Metaverse might revolutionize fashion marketing communication for the younger and future generations. The paper also explores the customer benefits that the brands offer through the Metaverse and why the younger public tends to find this marketing type so appealing. From a methodological point of view, two focus groups were organized, one for gamers and another for casual players. The research directions investigate the relationship between fashion, Metaverse, and gaming marketing communications. It follows the perception of the audience, as also the benefits for organizations and consumers of games that include fashion brands. The qualitative analysis results showed that the gap between gamers and nongamers is becoming more and more narrow, as both consume the same type of content, and the benefits for organizations are worth the investment. For consumers, on the other hand, both advantages and disadvantages were highlighted as concerns for future generations. The study acknowledges why the younger generations invest so much time and money in the digital fashion world.
Financial health of sustainable companies
(Tritonic, 2021) Balliu, Brian
Increasingly, companies are taking initiatives towards adopting sustainable practices to mitigate the negative social and environmental impacts that arise from their operations. To address the emerging needs of society, companies have started to change their business processes and have started releasing sustainability reports. Sustainable companies not only manufacture products that are sustainable and sourced ethically, but they also have established environmentally friendly production methods. Moreover, sustainable companies are important factors when considering the influence these companies have in fully changing the landscape of businesses' involvement and responsibility in the protection of the environment. For this study companies that were rated as the most sustainable companies for 2021 by SG Analytics and that also scored a high ESG score in the Refinitiv Eikon database. The companies were picked from different GICS industry codes to offer a better view of the financial health of companies that operate in different sectors and are subject to a different customer base. The financial reports of the selected companies were analyzed with a focus on their levels of liquidity and the financial structure to provide a clear image of how healthy these companies are from a financial perspective. Additionally, environmental considerations are provided for each company while analyzing the areas where the businesses conduct operations, with regards to challenges that might arise and impact the financial health of said companies in their future business endeavors. The study contributes to the body of knowledge in the field of corporate sustainability and corporate risk, utilizing a different methodology from the statistical studies in the field. The study employs accounting ratios and a risk management approach, analyzing the balance sheet, income statements, and cash flow statements for each company.
Have banks been supportive during the COVID19 pandemic?
(University Goce Delchev Shtip, 2021-08-15) Marcu, Roxana Mihaela; Zbuchea, Alexandra
The COVID-19 pandemic has had disrupting and negative effects on economies and society. Nevertheless, it seems that it has contributed to increased solidarity, and determined individuals and organizations to be more responsible, at least concerning health-related aspects. Companies around the world have been involved in supporting the health care system and minimizing the impact of the pandemic on economies around the world. During the COVID-19 pandemic, companies were motivated by utilitarianism and deontological factors to get involved in philanthropic CSR actions in the toughest moments of the pandemic. Banks seem to be no exception. Even more, during this pandemic, banks have done much to rehabilitate their reputations, tarnished during the previous financial and economic crises. This paper aims to analyze the perception of the involvement of Romanian banks during the pandemic, especially for overcoming the crises of the healthcare system. The findings could guide banks to be more consistent and better communicate their CSR activities and involvement for the benefit of society, and helps understand how people observe and evaluate the CSR efforts of banks.
The impact of OECD's Development Assistance Committee (DAC) aid commitments for education on human development in Asian countries and its implications for textile industry
(The National Research-Development Institute for Textile and Leather (INCDTP) , 2022-10) Gilliani, Durdana Qaiser; Naeem, Muhammad Zahid; Spulbar, Cristi; Ejaz, Abdullah; Birău, Ramona; Anghel, Lucian Claudiu; Florescu, Ion
Education and health are considered a cornerstone for obtaining targeted development in any society. Moreover, both sectors promote prosperity greatly. In this changeable epoch, people are thought out as the real wealth of any nation and this wealth with good human capital serves the economy very efficiently and productively. This research study aims to analyse how Development Assistance Committee (DAC) aid commitment for education along with institutional quality is effective for the human development of selected Asian economies. A panel data set over 2011–2018 is used for this analysis in Asian countries. GMM results show a significant and positive relationship between aid commitment for education and the human development of these economies. A more interesting result is that financial development seems to boost up human deployment in the selected Asian economies. The development of the textile industry is significantly influenced by education, especially considering the effects of OECD's Development Assistance Committee (DAC) Aid Commitments for education on human development in Asian countries. There is a dire need to reconsider more allocation of resources and aid to education and health to utilize these inflows at the maximum level for targeted development.
Managementul relației cu clienții – reorganizări și soluții în pandemie
(Tritonic, 2021) Stoica, Valentin
Social economy enterprises contributing to the circular economy and the green transition in Romania
(CIRIEC Spain, 2023) Barna, Cristina; Zbuchea, Alexandra; Stănescu, Simona Maria
Recently, there is a new European Union commitment to the potential of the social economy which is a pioneer in job creation linked to the circular economy that will be further leveraged by the mutual benefits of supporting the green transition and strengthening social inclusion. Considering this general context, we propose in this paper an exploratory research aiming to investigate the potential of the Romanian social economy sector as part of a circular economy approach that could advance the green transition in the following years. Our paper is based on the findings of preliminary systematic content analysis for the identification of the social enterprises in Romania which include circular economy and/or green economy in their business model, and on qualitative research based on semi-structured in-depth interviews with the social economy organizations’ managers. We have highlighted five good practice examples (Recicleta, Atelierul de Pânză, Educlick/Reconect, Remesh, and Bio&co Farm), which clearly show that combining the principles of social economy with the ones of circular/green economy is a strategy that might lead to overcoming the current challenges of the society. Our investigations represent the first approach to this topic, aiming to understand the specific challenges of the circular or green economy and social economy models when joining forces together for sustainable development in the context of an emerging social economy, as is the case of Romania.
Social Reporting Impact on Non-Profit Stakeholder Satisfaction and Trust during the COVID-19 Pandemic in an Emerging Market
(MDPI, 2022-10-13) Nemțeanu, Sefora Marcela; Dabija, Dan Cristian; Gazzola, Patrizia; Vătămănescu, Elena Mădălina
Attracting resources to achieve established goals makes social reporting necessary in relation to an organization’s stakeholders, and reports on the social impact of resource use and activities have an essential role in increasing stakeholder satisfaction and trust. The COVID-19 pandemic emphasized the importance of sustainable development goals and transparent social reporting for different categories of stakeholders. This paper aims to identify the social reporting dimensions that influence the satisfaction and trust of the primary stakeholders of non-profit organizations in an emerging market (Romania), i.e., managers, employees, members, volunteers, donors, and collaborators. The results reveal the positive influence COVID-19 reporting had on stakeholder satisfaction. The lack of formal reporting has a weak yet statistically significant negative influence on stakeholder satisfaction, thus positively influencing the perceived need for external and internal auditing. Stakeholder trust in an organization is strongly and positively influenced by satisfaction with the organizational activity and internal auditing and is negatively influenced by a lack of formal reporting.
Sustainability trends in the fast fashion industry
(Tritonic, 2023-10-27) Pătruți, Petra
The Fast Fashion industry is a highly polluting industry generating much concern in the academic world. The paper maps the global sustainable trends in the fast fashion market found in 2 databases, Scopus and Web of Science, from January 2000 till July 2023 and contains a literature review of these trends and dimensions. The fact that we want to offer a complex view of the actual trends in the global fashion industry reflects our research gap, which may significantly impact tomorrow's sustainability. The trends are also further discussed and addressed and will be of high value as they better understand the barriers to adopting these sustainable trends on larger scales, leading practitioners to announce proactive solutions for a better and more sustainable future. From a theoretical point of view, we want to expand the knowledge of what the sustainability of the fashion industry on a global level can look like based on different components and dimensions. Similarities were found in analyzing the trend from the two databases as general directions for the international trends.
Sustainable behaviour of B Corps fashion companies during Covid-19: A quantitative economic analysis
(Elsevier, 2022-09-14) Ferioli, Matteo; Gazzola, Patrizia; Grechi, Danieli; Vătămănescu, Elena Mădălina
This paper investigates whether or not Italian Certified B Corps® in the fashion industry achieved levels of corporate social responsibility (CSR) and financial performance that are comparable to listed companies in the same industry during the Covid-19 pandemic. After a review of the literature concerning B Corps, CSR and the circular economy, as well as some coverage of pandemic impacts, a quantitative approach is used to analyze the data empirically. Based on the data available, the study incorporated the entire population of Italian listed companies and B Corps in the fashion industry. Moreover, this study confirms the relationship between CSR and financial performance. The availability of sustainability documents other than the required social responsibility report does not directly affect a company’s profitability, but they are necessary for the long term. The results also confirm the positive relationship between sustainability certification and higher financial performance, as the most sustainable companies were also the most profitable. Certified B Corps® declare their willingness to adopt circular economic principles to the same extent as non-certified listed companies. Moreover, the results show that consumers mainly remember the information disclosed on a company’s homepage; therefore, managers should publish more there. However, they should not underestimate the importance of their sustainability report because it is an effective social communication tool, especially in the long term. Finally, obtaining the B Corp certification will allow companies to inform stakeholders of their social responsibility and achieve higher financial results.
Sustainable knowledge management and its impact on the performances of biotechnology organizations
(MDPI, 2019-01-11) Zbuchea, Alexandra; Pînzaru, Florina; Busu, Mihail; Stan, Sergiu Octavian; Bârgăoanu, Alina
Starting from the findings of specialized studies on knowledge management in the field of biotechnology, this paper aims to present the factors that underline sustainable performances of Romanian biotechnology organizations. Particularly, descriptive analysis of these factors has outlined a picture of the current situation of biotechnology in Romania. The design of an exploratory knowledge management model for organizations in the biotechnology sector was achieved and validated through a panel data model. Starting from a model of growth based on productivity, capital inflow, and human capital, three statistical hypotheses were validated by a time series data panel regression model using EViews 9.0 software. The data were collected for the enterprises active in the field of biotechnology for a period of nine years. The paper highlights the fact that the economic performance of biotechnology organizations is determined by the flow of capital, productivity, and the workforce. Knowledge-based growth strategies are essential in the econometric model presented. Nevertheless, in terms of knowledge management strategies, the sector has not reached its maturity, and full sustainability is not a norm.
Sustainable management of IT enterprises
(Springer, 2021-01-05) Pînzaru, Florina; Wereda, Wioletta; Moldoveanu, Ion; Ciuciuc, Victor Emanuel
Digital technologies and sustainability could be understood from a superficial point of view as mutually exclusive. One is driven by the Internet of Things, Artificial Intelligence (AI) and robotics, focusing on a constant increasing efficiency, while the other is driven by the public opinion’s expectations for a fair development in respect to environmental, social and economic factors. Apparently, two paradigms collide at present: the one of the digital transformation meant to innovate business models in order to satisfy a continuously growing demand of products and services, and the one of addressing social and environmental challenges. In reality, the two concepts are mutually reinforcing, as digital tools can and should be used in the framework of sustainable business approaches and the catalyzer of the digital transformation, the IT industry, could become the promoter of sustainable management using new technologies. We explore in this paper the perception of sustainability by Romanian IT managers and their orientation towards sustainable management approaches, considering the economic, social, environmental and technological dimensions. The results present a heterogeneous landscape dominated by economic and political conditionality, with a strong orientation towards education in the sector as a source of sufficient workforce, leaving room to further discussions on how the industry considered to be the source of all current disruptions could become the engine of future sustainable business models.
The Attitudes of the Young Albanians and Romanians on Sustainable Tourism
(Universitatea "Stefan cel Mare" Suceava, 2022-06-20) Balliu, Brian; Zbuchea, Alexandra
Sustainability has become widely accepted in tourism as a means of mitigating the negative effects of mass tourism. However, constructing a credible scale in cross-cultural settings is crucial for assessing the outcomes of sustainable tourism. The Sustainable Tourism Attitude Scale (SUS-TAS) in an Albanian and Romanian context is examined in this study, and the local population in both countries is used to collect data. The sample consists of younger people belonging to two age groups: 18-29 years old and 30-39 years old. These segments correspond broadly to Gen. Z and Millennials in the two countries. The sustainable tourism attitude scale (SUS-TAS) is designed to assess the attitudes of local populations toward sustainable tourism development. The study uses a seven-dimensional SUS-TAS model with 37 questions. The findings indicate that the SUS-TAS can be used to ascertain resident attitudes toward sustainable tourism in Albania and Romania. Results show that attitudes are quite similar in most aspects between the two countries.

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