Sustainable Leadership Wisdom Cube: Sustainable Leadership Style Evaluation Application to the Wisdom Cube Scientific Knowledge Space

Markopoulos, Evangelos; Winter, Lisa Marie Carolin; Vanharanta, Hannu

doi:10.1007/978-3-030-80094-9_48

Cited by 2 publications

(2 citation statements)

References 10 publications

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“…To find practical and effective solutions that can be translated into Environmental, Social and Governance strategies. Sustainable leadership and Innovation should be at the core of this process (Markopoulos et al, 2021c). Many renowned scientists and sociologists have warned that "business as usual" is not acceptable anymore, and, in many cases, it can be disastrous.…”

Section: Discussionmentioning

confidence: 99%

An ESG-SDGs alignment and execution model based on the Ocean Strategies transition in emerging markets

Markopoulos¹,

Ramonda²

2022

AHFE International

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Sustainable Development has been introduced in 1987, and it is underpinned by three equally essential pillars: economy, society, and the environment. The adoption of the Sustainable Development Goals in 2015 was a watershed moment in the campaign for sustainable growth. Since then, this set of 17 objectives has steered the private and governmental sectors toward more sustainable, inclusive, and responsible processes. In addition, the ESG Index has recently gained prominence primarily in the financial industry. While ESG Investment Markets in developed nations have proliferated, many emerging market businesses have been marginalized, owing to a lack of human and financial resources for ESG compliance. Considering that the appropriate ESG credentials may result in various advantages, ranging from attracting potential investors to establishing a good reputation and gaining a competitive edge, it is critical for firms in Emerging Markets to employ tactics that will assist them in achieving this.The research conducted involve an extensive literature review on this subject, a survey with 86 valid responses and four interviews with international experts. The results indicate that within different challenges regarding ESG compliance, the unbalanced approach that many businesses adopt is a major one. Societal issues seem to be the aspect that companies primarily focus on, while Environment issues appear to be neglected or forgotten. This is especially true in Emerging Markets because of a lack of data, a lack of interest and a lack of political pressure. Therefore mapping ESG and SDGs requirements can bring significant benefits to organizations that can improve their Corporate Sustainability without harming their economic growth, development and strategy.This research introduces an ESG – SDG mapping model and its execution process to achieve the maximum of this relationship. The prioritization of the SDGs has to be related to the ESG strategy an organization is committed to executing based on its capability and maturity. The proposed model is based on integrating the Blue, Pink and Green oceans and the gradual achievement of SDGs during the transition from one ocean to the other. This Pink Ocean and Green Ocean driven ESG framework is targeted primarily for the Emerging Markets where the need to adapt the SDGs is more significant than other regions. The paper indicates the initial limitations in the strategy and application of the proposed model and areas of further research that can overcome these limitations and wider its areas and regions of adaptation, and improve the scoring parameters and process. Local and international companies can use the proposed model to ignite and boost their Corporate Sustainability by complying with the ESG metrics and align themselves to the Sustainable Development Agenda.

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Section: Discussionmentioning

confidence: 99%

An ESG-SDGs alignment and execution model based on the Ocean Strategies transition in emerging markets

Markopoulos¹,

Ramonda²

2022

AHFE International

Self Cite

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“…The DECM will assist family businesses to assign a successor through sustainable leadership criteria (Markopoulos et al, 2021c). As a result, the chosen leader will not only increase the survival rate of their organization by effectively balancing family interests and business requirements, but also support the positive contribution of their family business to the society and economy for upcoming generations.…”

Section: Socioeconomic Impactmentioning

confidence: 99%

Democratic Management Succession in Balkan Family Businesses: Appointment of Family and nonfamily Members in Leadership Roles

Markopoulos¹,

Ukperaj²,

Vanharanta³

2022

Creativity, Innovation and Entrepreneurship

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Family businesses are considered to be the backbone of the free-enterprise system in the Balkans. They account for the overwhelming majority of small and medium-sized enterprises and contribute significantly to the economic welfare of the region. However, the lack of succession planning, among other factors, has put the future prospects of local family businesses at risk. Accordingly, family-owned enterprises that do not have a succession plan in place could not only endanger the ongoing prosperity of their future generations but also the company’s very existence. Given that the nomination of family and nonfamily members to top senior positions may set personal interests against corporate ones, this may lead to serious problems in the firm’s strategic direction when the two are not compatible. Consequently, potential successors should be assessed across different domains to determine who is the best fit for a leadership role. Accordingly, this paper introduces the Democratic Employee Connect Model (DECM), a step-gated framework which can provide a potential solution for family businesses when planning for management succession. It is composed of six steps, which will guide family-owned enterprises during this crucial process. The six steps of the model are aligned with the six levels of the Company democracy Model to democratically identify the most suitable candidate in this succession process which is often driven by personal and family interests. Two essential components of the DECM are its scoring system and change management model applied in a democratic context. The former would help family-owned enterprises decide whether a family or nonfamily member should be the next leader of the company, whereas the latter would increase the organisational commitment and level of cohesion between family and nonfamily members. Although this framework is specific only for the Balkan region, it may also be applicable in other regions and economies of similar size with some minor adjustments. The research conducted is based on secondary data that integrates selected elements from the main family business theories in the proposed model such as the family business system theory, agency and stewardship theories, social exchange and social identity theories, and others. In addition, primary research has been collected from survey responses of 63 family businesses, interviews with five industry experts and observations of two family-owned enterprises to better understand the factors that Balkan family businesses take into account for the appointment of family and nonfamily successors.In this context, the primary and secondary research findings suggested that relational and contextual factors are more important than individual factors for the nomination of a nonfamily successor in these organisations and the opposite is true for a family successor. This provides evidence that most family-owned enterprises in the region have a strong desire to appoint family members in leadership roles as opposed to nonfamily members, whose contributions are presumably secondary to the founding family. These insights are incorporated in the Democratic Employee Connect Model (DECM) for a more accurate representation of family businesses in the region. The paper also presents research limitations that can be considered for future research.

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Sustainable Leadership Wisdom Cube: Sustainable Leadership Style Evaluation Application to the Wisdom Cube Scientific Knowledge Space

Cited by 2 publications

References 10 publications

An ESG-SDGs alignment and execution model based on the Ocean Strategies transition in emerging markets

An ESG-SDGs alignment and execution model based on the Ocean Strategies transition in emerging markets

Democratic Management Succession in Balkan Family Businesses: Appointment of Family and nonfamily Members in Leadership Roles

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