OIDA International Journal of Sustainable Development
Open-access peer-reviewed journal
A Dig into the Multifaceted Nature of Sustainability: A Tripartite Approach
Ogechi Okoro
Independent Researcher, Whitiora, Hamilton, New Zealand.
Volume 15, Issue 11, Pg. 11-18, 2022.
Abstract: A consensus was not difficult to arrive at on the contribution of 21st-century business to humanity. However, it will be unhinged to ignore the consequences of business activities on people and the environment. Consequently, the agitation for climate justice has become a major source of concern for States and Corporations globally. This has drawn unprecedented attention to the concept of sustainability. Essentially, Sustainability is associated with economic prosperity, ecosystem viability, and social justice. Put differently, it borders people, profit, and planet. Suffice to say that the corporate world and other stakeholders have paid more attention to economic prosperity and ecosystem viability as opposed to social justice. However, the events of the last 3 months following the US election process underscores the need to pay similar attention to social justice (people). Therefore, this paper commences by evaluating the role of institutional environments on the concept of sustainability with an understanding that the social justice aspect of sustainability involves activities or actions by people that affect the overall welfare of society. Against this backdrop, this paper seeks to analyse the need to strike a balance between the three principles of sustainability for the common good by taking a critical look at the tripartite nature of sustainability. in this paper the role of society’s primary stakeholders (Business, Government, and People) in reconciling the three principles of sustainability are is illuminated. The paper also explores the role of leadership and institutional environments on the sustainability agenda. It acknowledges the positive impact of effective leadership in promoting sustainability. Analysis suggests that the ecosystem viability principle resonates more than the other two principles because of an ever-increasing environmental consciousness. Conversely, economic prosperity attracts more attention from the business circle perhaps because of its fiduciary function. The social justice part of sustainability drew more attention from the public because of the rise in demand for equity in different societies. The paper strongly suggests an inclusive approach to balancing the three principles of sustainability. Additionally, it advocates a universal approach of one size fits all for the concept and encourages the nixing of any subjective approach to the concept.
Keywords: Economic, Ecosystem, Leadership, Social, Sustainability
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Creative, Innovative, and Intellectual Property Rights are the pillars for MSMEs sustainability -A Study
P. Paramashivaiah 1, Sowmya D. N.2
1 Department of Studies and Research in Commerce, Tumkur University, India.
2 Seshadripuram Academy of Business Studies, Tumkur University, India.
Volume 15, Issue 11, 19-28, 2022.
Abstract: Micro, Small, and Medium Enterprises (MSMEs) are the major economic contributors to India after agriculture. More than 12% of India’s GDP is derived from MSMEs. MSMEs recorded potential growth during past fiscal years. Innovation and creativity become the most significant factors of organizational performance and success. Globalization becomes a top priority of any industry either large-scale or small-scale industry. All country growth depends on its development and sustainability, to meet this yardstick contribution from MSMEs is significant. Going global has become a mandate for any MSMEs in the present situation. Creative and Innovative make people to turnaround for a new way of getting things and making things. At the same time protecting that innovation is mandatory for sustainability.
India’s vision to reach a 5trillion economy has so many hurdles. Especially this pandemic COVID-19 created a lot of disorder. In this regard government of India announced the package Athmanirbhar Bharath which boost-up the eminence of self-reliance and can be treated as life-saving vaccination for SMEs with special attention. Government of India initiatives like Make in India, Athamnirbhar Bharath, start-up India, Skill India, Zero Defect Zero Effect, Grievance monitoring system, Incubation, etc., and others focus on MSMEs and their development. There are several other factors in manufacturing & procurement policy, Quality Management Standards, and R&D concerning MSMEs that enhance Intellectual Property Rights (IPR) status and protect the country with pride. This paper is mainly focused on challenges and opportunities prevailing in the market for growth, development, and reaching a global level. This paper emphasizes on prospects of initiatives taken by the Government of India for better sustainability. The study is based on both primary and secondary data and analyzed with statistical tools.
Keywords: MSMEs, Athmanirbhar Bharath, IPR, Innovations, Skills, Opportunities, and Challenges.
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