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July 2023, Volume 38 Issue 3
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Abstract
In recent years, corporate social responsibility (CSR) and sustainability have become integral parts of management practices across organizations worldwide. The growing emphasis on sustainable business practices has led to the adoption of digitalization in management, enabling the development of standardized procedures and codes related to sustainable development. This study explores the impact of digitalization on sustainable business practices by analyzing 67 papers encompassing various topics such as circular business models, eco-efficiency, stakeholder engagement, and digital supply chains. This study aims to identify digitalization practices for sustainable business, explore the integration of digitalization with sustainable practices, and understand the overall impact of digitalization on sustainable business practices. Three research questions guide the investigation: (1) What are the digitalization practices merged with sustainable business practices? (2) How does digitalization increase transparency and efficiency? (3) How can digitalization enhance sustainable practices? The findings reveal that digitalization facilitates more transparent and efficient management practices, transforming how organizations operate, perform functions, and manage day-to-day activities. By blending digitalization with management practices, stronger governance and sustainable decision-making can be achieved. Additionally, digitalization enables organizations to promote environmental, social, and governance (ESG) practices, make sustainable investment decisions, and maintain data in a methodological and systematic manner. This study contributes to the existing body of knowledge by synthesizing and analysing diverse research articles that highlight the intersection of digitalization and sustainable business practices. The findings provide insights for practitioners and policymakers to harness the potential of digitalization for fostering sustainable development. Further research can explore specific digitalization strategies and their implications on sustainable business practices to deepen our understanding of this evolving field.
Keyword
DIGITALIZATION; SUSTAINABLE BUSINESS PRACTICES; MANAGEMENT; CORPORATE SOCIAL RESPONSIBILITY (CSR); LITERATURE REVIEW
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