Sustainability has always run through social and economic activities. As significant economies have competed for their interests in the past few years, this situation has caused a global economic depression. Additionally, this situation worsened due to the spread of the COVID-19 pandemic around the world. The international politics, economy, and Culture are undergoing unprecedented destruction and challenges from the COVID-19 pandemic that has caused businesses in many countries and regions to close or are about to face bankruptcy. More and more employees are getting laid off every day since the COVID-19 began. Even employees who are employed are feeling unsecured. So, in the face of uncertainties and difficulties facing corporations worldwide, we need to find a better way to extend the company's life cycle in a more structured and sustainable manner. The main research question for this study is "What are the factors that have significant effects on organizational sustainability?" In this study, twelve independent variables including Leadership (L.S.), Management (M.N.), Culture (C.T.), Structure (S.T.), Workforce diversity (W.D.), Organizational age (O.A.), Staff age (S.A.), Mindset (M.S.), Technology (T.N.), Organizational dimension (O.D.), Group structure (G.S.), Business locations (B.L.) and one dependent variable called Sustainability (SUS) is the studied. This study aims to understand the structural relationships among these potential variables that could influence corporate sustainability. The dataset utilized to test the hypothesis postulated in this study using Structural Equation Models (SEM). This study suggested that the Leadership, Management, and Staffing Age significantly affects organizations towards organizational sustainability. Considering the different politics, economy, and cultural backgrounds in countries and industries, the study also found that some irreconcilable factors affect the performance of leadership, management, and staff ages. Thus, this study identified effective leadership, management, and staff age as strategies to lead organizations further towards organizational sustainability. The results of this study provide some valuable suggestions for all companies facing the COVID-19 threats right now to bring back to life and become more sustainable in the years to come and provide some evidence for future researchers to explore this field further.
When we look back on the history of the world, the term “New Normal” has been employed concerning World War I, the global financial crisis of 2007 -2008, the September 11 attacks in the United States, and the global recession of 2008 -2012. Still, this term has never powerfully shocked our hearts. The COVID-19 pandemic has been changing human life since 2020. People gradually move away from everyday life and progressively walk into the “New Normal” life. However, the life of “New Normal” is full of uncertainty. The uncertainty may come from the different variants of the COVID-19 virus, and it may come from the resetting of the global economy. In the “New Normal” life, more and more companies go bankrupt and are about to face bankruptcy. Even though some companies do not want to default, but it has been hard to survive nowadays. Until now, it is hard to know if the “New Normal” life is a brief time in this long history of the world or the “New Normal” life will be a permanent state. Anyway, the “New Normal” factors of “New Normal” life have provided opportunities to force the world to eliminate outdated technologies, eliminate the backward enterprises, reorganize the business framework of companies, optimize the industrial structure, strengthen human resources, re-set the world economy, reorganize the business relationship of the world. History always moves forward according to its natural developmental trend, and no force can resist the law of the development of things. Still, also no power can resist people to pursue a better life. Individuals, groups, regions, and countries are connected based on the relationship between the individual and country is the relationship between the individual and the larger society. In addition, the relationship between the individual and the world is the relationship between the individual and the human organization. Therefore, individuals, groups, regions, and countries must look forward and keep a positive mindset to adopting the “New Normal” factorsin the “New Normal” life. As we can see, many companies are adopting “New Normal” factors, and some are expanding their business network and further towards corporate sustainability despite this COVID-19 pandemic making the challenging situation in this business world. The main research question of this study is “What are the “New Normal” factors that have a significant effect on corporate sustainability?” In this study, eight independent variables including Working from home (W.H), Workforce transformation (R.W), Digital transformation (D.T), Technological transformation (T.N), Psychological effect (P.C), Uncertainty (U.C), Consumer behavioral change (C.N), Government policy (G.V), and one dependent variable Corporate adjustment (C.S) is the studied. This study aims to understand the structural relationship among these potential variables that could influence corporate sustainability in the “New Normal” life. The dataset utilized to test the hypothesis postulated in this study is the Structural Equation Model (SEM). The results from this study suggests that Technological transformation, Uncertainty, Consumer behavioral change, Digital transformation, and Government policy significantly affect corporate sustainability in the “New Normal” life. Considering different politics, economy, and cultural backgrounds in countries and industries, we also found that some irreconcilable factors affect technological transformation, uncertainty, consumer behavioral change, digital transformation, and government policy. Finally, this study identified technological transformation, uncertainty, consumer behavioral change, digital transformation, and government policy as significant factors that affect corporate sustainability. Therefore, this study provides some valuable suggestions for all companies to better adapt to the business market in the “New Normal” time. In addition, this study also provides some evidence and ideas for researchers to explore corporate sustainability in the “New Normal” time and post-COVID-19.
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