910111213141512 of 28
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
Company Risk Management in Light of the Sustainability Transition
Blekinge Institute of Technology, Faculty of Engineering, Department of Strategic Sustainable Development.
Blekinge Institute of Technology, Faculty of Engineering, Department of Strategic Sustainable Development.ORCID iD: 0000-0002-7382-1825
2018 (English)In: Sustainability, ISSN 2071-1050, E-ISSN 2071-1050, Vol. 10, article id 4137Article in journal (Refereed) Published
Abstract [en]

Many of the most important business and economic risks are directly linked to environmental and social issues. This includes both threats and opportunities, not only in relation to reputation, which is often mentioned in this context, but, even more importantly, in relation to innovation capability and legislative change on inevitably more and more sustainability-driven markets. It is, however, unclear through which mechanisms such sustainability risks currently affect companies and how they can be systematically identified and managed. Based on the Framework for Strategic Sustainable Development, this study investigates the dynamics and implications of society’s sustainability transition from a company risk management perspective. In addition, exploratory and descriptive studies were conducted at two large product innovation companies to identify current risk management practices and preconditions for sustainability integration. The results reveal that a society moving closer towards a collapse of environmental and social systems leads to increasing sustainability-related threats for unsustainable businesses and increasing opportunities for sustainable businesses. Also, risk management is found to be a promising way for maneuvering in a smart zone between being too passive and being too pro-active in relation to sustainable innovation.The study participants at the case companies were knowledgeable about risk management in general but were largely unfamiliar with risks associated with sustainability and no processes or support tools exist to work systematically with such risks. Key steps to accomplishing an integration of a strategic sustainability perspective into risk management are proposed as: (i) identifying the effects of sustainability issues on internal and external stakeholder value; (ii) actively including sustainability in objective setting and cascading objectives across the levels of the organizational hierarchy; and (iii) developing concrete support for identifying, assessing, and managing economic sustainability risks. Thereby, companies can enhance their competitiveness while providing leadership in the sustainability transition.

Place, publisher, year, edition, pages
2018. Vol. 10, article id 4137
Keywords [en]
risk management, sustainability, product innovation, strategic sustainable development, sustainable product development, sustainability transitions, sustainable development
National Category
Environmental Sciences
Identifiers
URN: urn:nbn:se:bth-17246DOI: 10.3390/su10114137OAI: oai:DiVA.org:bth-17246DiVA, id: diva2:1262276
Projects
Model Driven Development and Decision SupportSustainability Implementation Package
Funder
VINNOVA, 2018-00361Knowledge Foundation, 20120278
Note

open access

Available from: 2018-11-10 Created: 2018-11-10 Last updated: 2018-11-29Bibliographically approved

Open Access in DiVA

Schulte, Hallstedt 2018 Company Risk Management in Light of the Sustainability Transition(2058 kB)7 downloads
File information
File name FULLTEXT01.pdfFile size 2058 kBChecksum SHA-512
6d29312993aba3c0e14233fa725ce0616685c50c0debad0b3b4ab93633508b51381e863c17d392ea6c6533a1b55f1fd0f88e62c990c862cbfd5999e8ac4a49db
Type fulltextMimetype application/pdf

Other links

Publisher's full textCompany Risk Management in Light of the Sustainability Transition Fulltext

Authority records BETA

Schulte, JeskoHallstedt, Sophie

Search in DiVA

By author/editor
Schulte, JeskoHallstedt, Sophie
By organisation
Department of Strategic Sustainable Development
In the same journal
Sustainability
Environmental Sciences

Search outside of DiVA

GoogleGoogle Scholar
Total: 7 downloads
The number of downloads is the sum of all downloads of full texts. It may include eg previous versions that are now no longer available

doi
urn-nbn

Altmetric score

doi
urn-nbn
Total: 36 hits
910111213141512 of 28
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf