The role of community involvement in sustainable tourism strategies: A social and environmental innovation perspective

Sharma, Vivek; Bhat, Dada Ab Rouf

doi:10.1002/bsd2.227

Cited by 15 publications

(20 citation statements)

References 66 publications

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Section: Discussionsupporting

confidence: 83%

“…This article's contribution to the literature is developing a business strategy and concept that rethinks their specificities in the new markets of tomorrow. The article also confirms ongoing analyses (Bagul et al, 2023; Patil & Vhavale, 2023; Setiarini et al, 2023; Sharma & Bhat, 2023) on the issues of business strategy and development. Based on the research results, it is a clear and undeniable fact that business strategy and development are determined by three fundamental factors: viral threat, digitalization, and sustainable development.…”

Section: Discussionsupporting

confidence: 81%

“…Specifically, it examines the economic asymmetry of new markets and how it leads to differences in digitalization and competitiveness among countries. This article is mainly concerned with identifying these disparities and their implications for the future (Bagul et al, 2023;Patil & Vhavale, 2023;Setiarini et al, 2023;Sharma & Bhat, 2023). Ndalamba (2019) has explored the problematic public policies and the leadership challenge for South Africa's socioeconomic transformation.…”

Section: Economic Transformations In Business Strategy and Developmen...mentioning

confidence: 99%

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Economic asymmetries and the new “markets of tomorrow”

2023

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This article investigates the differences between the ongoing digital advancements in the market‐based society and the future market‐technology society in the Fourth Industrial Revolution. This article explores the “markets of tomorrow” that embody the production capacity limits of technological progress to respond to socio and economic transformations amid viral threats, digitalization, and sustainable growth development. Examining the digital economy and technological advancement in developed and developing countries is being conducted. Generally, three key factors play a significant role in determining business strategy and development. These are the threat of viral infections, the process of digitalization, and the need for sustainable development. Our findings show that socio‐institutional innovations are present in the current landscape and play a role in guiding suggestions for managing these markets, considering their unique characteristics. The novelty of this article is analyzing the digital divide as a new form of global asymmetry. This is particularly important when there is a growing emphasis on polarization and power relations, especially under the conditions of digital competition in new markets of tomorrow, which the Fourth Industrial Revolution has predetermined.

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Section: Discussionsupporting

confidence: 83%

Section: Discussionsupporting

confidence: 81%

Section: Economic Transformations In Business Strategy and Developmen...mentioning

confidence: 99%

See 1 more Smart Citation

Economic asymmetries and the new “markets of tomorrow”

2023

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“…It creates jobs and reduces the level of youth unemployment. It engages local populations and stakeholders in the developmental processes (Sharma & Bhat, 2022). Due to the eagerness to attract tourists, governments of all nations are trying to improve the level of infrastructural development.…”

Section: Literature Reviewmentioning

confidence: 99%

Analysis of tourism and sustainable development in MENA economies

2023

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The existing studies suggest that the tourism sector may fast track the achievement of sustainable development due to its ability to guarantee the renewability of natural resources and the preservation of the ecosystem. Scholars also opine that tourist activities involve transportation that utilizes fossil fuels and non‐renewable energy sources. This implies that tourism may contribute to environmental degradation and slow down the achievement of the sustainable development agenda. In this paper, we contribute to this debate by examining the dynamic relationship between tourism and sustainable development in the case of the MENA region. Employing panel vector autoregressive based on the generalized method of moments framework (GMM‐PVAR) on data spanning from 1995 to 2019, we document that there is a positive and dynamic relationship between tourism and sustainable development in the MENA region. Further analysis shows that there is a bi‐causal relationship between the two variables; implying that they have a powerful prediction content of each other. The study recommends that effort should be made to develop pertinent policies to promote ecotourism in the region.

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“…In the same way, Bartlett and Preston (2000) and Wood (1984), concluded that socially responsible business activities reduce conflicts between stakeholders and firms, which ultimately improve the financial performance of firms. Sharma and Bhat (2023) investigated social and environmental innovations and business performances. They found that social and environmental innovations through community participation have a positive impact on sustainable tourism development and business performance.…”

Section: Review Of Literaturementioning

confidence: 99%

Equity market performance: The role of environmental protection and corporate social responsibility efforts

Panda,

Ray

2023

Bus Strat Dev

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Businesses that contribute to social welfare and development are regarded as reliable and generate more wealth for their stakeholders. This study attempts to determine how corporate social responsibility (CSR) and environmental protection measures influence the financial performance of Indian businesses. A panel dataset containing 330 Nifty 500 companies is included to determine their relationship. The quarterly and semi‐annual share prices are employed as proxies for the financial performance of companies. In the regression model, the lagged share prices (log) of two periods serve as the response variable, while the CSR and the CSR plus the environment and pollution control expenses (CSREP) serve as explanatory variables. The results suggest that the fixed‐effect regression model is suitable where the explanatory variables are time‐invariant and the relationship between the dependent and explanatory variables across firms is constant over time. Our analysis indicates that CSR spending alone has little effect on the share prices of companies over two prospective time periods. However, as companies invest more in environmental and pollution control activities in addition to their CSR expenditure, the market recognises this as a significant factor, and their share prices rise. Consequently, we discovered that CSREP (CSR plus environmental and pollution control expenditure) is a significant factor that influences quarterly and semi‐annual share prices.

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The role of community involvement in sustainable tourism strategies: A social and environmental innovation perspective

Cited by 15 publications

References 66 publications

Economic asymmetries and the new “markets of tomorrow”

Economic asymmetries and the new “markets of tomorrow”

Analysis of tourism and sustainable development in MENA economies

Equity market performance: The role of environmental protection and corporate social responsibility efforts

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