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Why social sustainability counts: The impact of corporate social sustainability culture on financial success

Research output: Contribution to journalArticleScientificpeer-review

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Why social sustainability counts : The impact of corporate social sustainability culture on financial success. / Schönborn, Gregor; Berlin, Cecilia; Pinzone, Marta; Hanisch, Christoph; Georgoulias, Konstantinos; Lanz, Minna.

In: Sustainable Production and Consumption, Vol. 17, 01.01.2019, p. 1-10.

Research output: Contribution to journalArticleScientificpeer-review

Harvard

Schönborn, G, Berlin, C, Pinzone, M, Hanisch, C, Georgoulias, K & Lanz, M 2019, 'Why social sustainability counts: The impact of corporate social sustainability culture on financial success', Sustainable Production and Consumption, vol. 17, pp. 1-10. https://doi.org/10.1016/j.spc.2018.08.008

APA

Schönborn, G., Berlin, C., Pinzone, M., Hanisch, C., Georgoulias, K., & Lanz, M. (2019). Why social sustainability counts: The impact of corporate social sustainability culture on financial success. Sustainable Production and Consumption, 17, 1-10. https://doi.org/10.1016/j.spc.2018.08.008

Vancouver

Schönborn G, Berlin C, Pinzone M, Hanisch C, Georgoulias K, Lanz M. Why social sustainability counts: The impact of corporate social sustainability culture on financial success. Sustainable Production and Consumption. 2019 Jan 1;17:1-10. https://doi.org/10.1016/j.spc.2018.08.008

Author

Schönborn, Gregor ; Berlin, Cecilia ; Pinzone, Marta ; Hanisch, Christoph ; Georgoulias, Konstantinos ; Lanz, Minna. / Why social sustainability counts : The impact of corporate social sustainability culture on financial success. In: Sustainable Production and Consumption. 2019 ; Vol. 17. pp. 1-10.

Bibtex - Download

@article{befd5ad0653b41a68d9450e08549cebc,
title = "Why social sustainability counts: The impact of corporate social sustainability culture on financial success",
abstract = "Awareness is growing in European companies of the importance of managing all aspects of sustainability. However, the elusive social aspect of sustainability and its influence on successful business has been under-investigated in corporate culture literature so far. The aim of this paper is to examine whether a correlation can be found between corporate social sustainability culture (expressed as explicit “items” of corporate values and practices emphasizing employee and societal well-being) and the financial success of a company. This is examined through a multiple regression analysis of two contrasting European polls, examining items indicating corporate social sustainability culture, and financial outcomes. The empirical results show that four specific success-related social sustainability dimensions of corporate culture are predictors of a company being classified as financially successful. These are: Sustainability strategy and leadership; Mission, communication and learning; Social care and work life; and Loyalty and identification. The paper contributes to the understanding of how to manage corporate social sustainability culture whilst supporting companies’ financial performance, and provides evidence-grounded recommendations to business managers and stakeholders aiming to manage social sustainability proactively by undertaking cultural change and development initiatives.",
keywords = "Corporate culture, Corporate sustainability, Financial performance, Social sustainability, Success factors, Sustainability",
author = "Gregor Sch{\"o}nborn and Cecilia Berlin and Marta Pinzone and Christoph Hanisch and Konstantinos Georgoulias and Minna Lanz",
year = "2019",
month = "1",
day = "1",
doi = "10.1016/j.spc.2018.08.008",
language = "English",
volume = "17",
pages = "1--10",
journal = "Sustainable Production and Consumption",
issn = "2352-5509",
publisher = "Elsevier",

}

RIS (suitable for import to EndNote) - Download

TY - JOUR

T1 - Why social sustainability counts

T2 - The impact of corporate social sustainability culture on financial success

AU - Schönborn, Gregor

AU - Berlin, Cecilia

AU - Pinzone, Marta

AU - Hanisch, Christoph

AU - Georgoulias, Konstantinos

AU - Lanz, Minna

PY - 2019/1/1

Y1 - 2019/1/1

N2 - Awareness is growing in European companies of the importance of managing all aspects of sustainability. However, the elusive social aspect of sustainability and its influence on successful business has been under-investigated in corporate culture literature so far. The aim of this paper is to examine whether a correlation can be found between corporate social sustainability culture (expressed as explicit “items” of corporate values and practices emphasizing employee and societal well-being) and the financial success of a company. This is examined through a multiple regression analysis of two contrasting European polls, examining items indicating corporate social sustainability culture, and financial outcomes. The empirical results show that four specific success-related social sustainability dimensions of corporate culture are predictors of a company being classified as financially successful. These are: Sustainability strategy and leadership; Mission, communication and learning; Social care and work life; and Loyalty and identification. The paper contributes to the understanding of how to manage corporate social sustainability culture whilst supporting companies’ financial performance, and provides evidence-grounded recommendations to business managers and stakeholders aiming to manage social sustainability proactively by undertaking cultural change and development initiatives.

AB - Awareness is growing in European companies of the importance of managing all aspects of sustainability. However, the elusive social aspect of sustainability and its influence on successful business has been under-investigated in corporate culture literature so far. The aim of this paper is to examine whether a correlation can be found between corporate social sustainability culture (expressed as explicit “items” of corporate values and practices emphasizing employee and societal well-being) and the financial success of a company. This is examined through a multiple regression analysis of two contrasting European polls, examining items indicating corporate social sustainability culture, and financial outcomes. The empirical results show that four specific success-related social sustainability dimensions of corporate culture are predictors of a company being classified as financially successful. These are: Sustainability strategy and leadership; Mission, communication and learning; Social care and work life; and Loyalty and identification. The paper contributes to the understanding of how to manage corporate social sustainability culture whilst supporting companies’ financial performance, and provides evidence-grounded recommendations to business managers and stakeholders aiming to manage social sustainability proactively by undertaking cultural change and development initiatives.

KW - Corporate culture

KW - Corporate sustainability

KW - Financial performance

KW - Social sustainability

KW - Success factors

KW - Sustainability

U2 - 10.1016/j.spc.2018.08.008

DO - 10.1016/j.spc.2018.08.008

M3 - Article

VL - 17

SP - 1

EP - 10

JO - Sustainable Production and Consumption

JF - Sustainable Production and Consumption

SN - 2352-5509

ER -