The Palgrave Handbook of Corporate Sustainability in the Digital Era PDF
Preview The Palgrave Handbook of Corporate Sustainability in the Digital Era
The Palgrave Handbook of Corporate Sustainability in the Digital Era Edited by Seung Ho Park Maria Alejandra Gonzalez-Perez Dinorá Eliete Floriani The Palgrave Handbook of Corporate Sustainability in the Digital Era Seung Ho Park Maria Alejandra Gonzalez-Perez Dinorá Eliete Floriani Editors The Palgrave Handbook of Corporate Sustainability in the Digital Era Editors Seung Ho Park Maria Alejandra Gonzalez-Perez Nanyang Technological University Universidad EAFIT Singapore, Singapore Medellin, Antioquia, Colombia Dinorá Eliete Floriani Universidade do Vale do Itajaí Itajaí, Brazil ISBN 978-3-030-42411-4 ISBN 978-3-030-42412-1 (eBook) https://doi.org/10.1007/978-3-030-42412-1 © The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer Nature Switzerland AG 2021, corrected publication 2021 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Cover illustration: © Sebastian Kopp / EyeEm This Palgrave Macmillan imprint is published by the registered company Springer Nature Switzerland AG. The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland Seung Ho Park To Ja Young (my wife), Alexandra and Amelia (my daughters). Maria Alejandra Gonzalez-Perez Dedicated to my Mum (1944–2020), to Dr. Carlos Enrique Piedrahita (1954–2018), and to my loved boy Cian Felipe (2008–2020). Dinorá Eliete Floriani To Flavio, my husband. My father and my mother, Leopoldo and Izolda Floriani. I ntroductIon Business sustainability in a digital era requires a new way of doing business in the twenty-first century. Sustainability and digitalization provide challenges and opportuni- ties to companies that require new capabilities and organizational adaptation. While they have drawn much attention in academic research and business practices, the man- agement field is still unsure of the scope, related issues, and organizational processes and outcomes of these concepts. This Handbook is an ambitious attempt to provide multi- disciplinary ideas in the global context that pave the way to advanced knowledge devel- opment and valuable business practices of digitalization and sustainability. It provides a comprehensive and broad picture of the nature, applications, and execution of sustain- ability in a digital era. Sustainability in a digital era requires a complex and broad scope of corpo- rate changes, including social commitment and firm embeddedness in the loca- tion of the primary businesses. Corporate sustainability entails systematic and future-oriented behavioral changes at the individual, organizational, and cul- tural levels. It also requires changes in how companies cope with different busi- ness environments and public policies that cause an unprecedented level of uncertainty and political turmoil. Corporate sustainability and digital transformation are multidimensional concepts that relate to various academic disciplines. These concepts are being explored in various fields that would lead to complementary understanding and theoretical integrations. There is also much variation in practicing these concepts across country borders. This Handbook includes studies from multi- ple disciplines, including political economy, marketing, strategy, accounting, information technology, and so on, across various countries of advanced and emerging markets. It is a gateway and a guide to understanding these critical and timely subjects in the most comprehensive and relevant way. In this digital era, it is not possible to create long-term value for organiza- tions without considering ethical, social, environmental, cultural, and eco- nomic aspects. Corporate sustainability recognizes that organizational growth and profits are essential, but it is not merely this. Organizations focusing on vii viii INTrODUCTION new business models should pursue sustainable development, especially the three combined pillars of corporate sustainability: social, environmental, and economic aspects. Finally, corporate sustainability is becoming a hot topic because of the ongo- ing changes in global governance. Since the global financial crisis of 2008, there has been a growing tendency in most Western countries, as well as emerg- ing economies, toward less interdependencies and more engagement of gov- ernments to control international transactions of firms by adopting barriers to trade, or investment control, or even dismantlement of multilateral mecha- nisms of trade governance (as WTO). Some authors call such an ongoing pro- cess as de-globalization. remarkably, this process is happening when the economy is entering the phase of digitalization, which, in our understanding, requires more interdependencies among countries and more efficient coopera- tive systems to cope with the implications of the digital era. Digitalization ver- sus de-globalization seems to be a paradox that calls for broader discussions involving universities, c orporations, nongovernmental organizations, and state representatives to build a more comprehensive framework of this new era. Motivated by this ongoing global debate, encompassing most intellectual spheres, we organized this book. In particular, it attempts to (i) present evi- dence and analyze the implications of the digital era to society and business, and the challenges of sustainable and profitable survival; (ii) identify potential social, demographic, technological, and managerial future trends; (iii) under- stand the need for profound transformations in individuals, the culture of orga- nizations, and the environment to adapt to the accelerated changes and manage future-oriented organizations. The book is divided into four main sections. Part I addresses digital trans- formation, with 11 chapters devoted to digitally transformed sectors and orga- nizations. These chapters cover topics across different levels. From a macro perspective, we bring studies about ecosystems and examine firm-level technol- ogy adoption and the scope of the incorporation of automation, including the algorithms shaping our future lifestyle and the cybersecurity aimed at reducing the risk of security breaches. From the firm perspective, we address topics like the role of the digital orientation of small companies in the process of embrac- ing different digital directions. In this digital era, companies have focused on factors that accelerate the internationalization process, but they also have to look closely at the long-term sustainability of these companies in international markets. The elements that contribute to the sustainability of digital companies in emerging markets are also treated in this first chapter. We address subjects like the relevance and the factors affecting museum visitors’ behavioral inten- tion to use the Augmented reality technology in Tourism 4.0, and the positive impacts of mobile money platforms. We also include the topic of the use of Virtual reality training as a means for organizations to promote equality, inclu- sion, and diversity effectively. Seeking for transparency and profit-oriented competitiveness, companies also rely on political links to influence the institu- tional environment and corporate sustainability management. INTrODUCTION ix Part II focuses on the economic, political, and ethical challenges in the pro- cess of digitalization. Some scenarios were constructed in this part of the book, brewing up through 2025, expecting the future to transform corporate sus- tainability radically for social advantage. This section includes studies dealing with the role of corporate social responsibility views and political criticism of capitalism and wealth effects on corporate sustainability. The political forces underpinning populism introduce their impacts on business, demanding that global organizations become more flexible in dealing with a complex and uncertain world and with the advance of digital technologies. The challenges to sustainability imposed by the digital revolution, social trends, and global imbalances and how to surpass these obstacles present the economy of attention as a concept that must be taken into account to conceive creative ways of understanding the digital economy from a human and ethical perspective. The role of the economy of attention in conceiving creative ways of understanding the digital economic needs to develop global regulation mechanisms to man- age Artificial intelligence (AI) and big data is also discussed in terms of being very challenging. The knowledge of existing regulations introduces a new cul- ture in the business ecosystem and the dynamics of public interest in artificial intelligence. Nevertheless, the negative impacts of digitally enabled globaliza- tion on individuals, communities, and nation-states is also being treated in this part of the book, presenting how to overcome these impacts through a change in values toward stakeholder perspective, leadership, and connection through information, communication, and technology. Additionally, the digital revolu- tion, social trends, and global imbalances make it challenging to address the impact on environmental management, technology transfer, and local capacity building of inward foreign direct investment (FDI) on domestic firms’ after learning orientation and catching up strategies during outward FDI. This sec- tion also discusses the local capacity building of FDI in local firms following learning orientation and catching up strategies during outward FDI, also look- ing at the dark side of the new globalization and joint efforts to mitigate its harmful effects. Part III of the Handbook addresses questions related to corporate sustain- ability and organizational resilience in the digital era. This part discusses the influence of automation and digitalization on humans and the impact of digi- talization on the future of work. The chapters in this section raise discussions about the link between sustainability and digitalization practices in the logistics service industry, the link between blockchain technology and business sustain- ability agenda, the effects of digital transformation on corporate sustainability accounting (CSA), and the use of big data analytics to achieve triple bottom line (TBL) sustainability. It also brings investigations on climate change disclo- sures in sustainability reports in different national cultures, the relation of workplace happiness and women’s advancement and leadership, and the role of storytelling in the management of sustainability. From a marketing point of view, we bring discussions about the impact of corporate disclosure practices and social media on intellectual capital, virtuous co-creation practices in the x INTrODUCTION so-called “born circular firms,” disruption of marketing components and the role of corporate social and environmental responsibility (CSrE), and the effects of disruptive digital technologies on future consumption patterns. We also address studies on the unexpected outcomes of disruptive innovations in supply chain operations, the growth and sustainability of unicorn companies, and the mediating effect of digital capabilities on organizational creativity and performance. This third part presents the relevance of disruptive innovations and the challenges to sustainable and inclusive development in a digital era. Finally, yet equally important, Part IV brings some topics related to future- oriented management education. We bring reflections on the importance of systematic reflexivity in research and education to promote international and sustainable development and on the most appropriate variables as means and goals for a management career in the future. The power of business generates and achieves sustainable values that could promote a new digital era by com- bining the three pillars of corporate sustainability in social, environmental, and economic dimensions. c ontents Part I Digital Transformation 1 1 The Eco-System of Firm Technology Adoption 3 Joshua Kofi Doe 2 Algorithms Shaping the Future 29 Eduardo Olier and Francisco Valderrey 3 Automation Adoption in the Textile Industry of an Emerging Economy 55 Olga Lucía Lopera Lopera and Juan Velez-Ocampo 4 Determinants of the Digital Orientation of Small Businesses 75 Minna Saunila, Mina Nasiri, Juhani Ukko, and Tero rantala 5 Analysis of Business and Sustainability Models of Native Digital Media in Latin America 91 Jessica Arrieta-Majul and Juan Velez-Ocampo 6 The Internationalization Speed of SMEs and their Long-term Sustainability in Foreign Markets 109 Beatrice Maria Zanellato Fonseca Mayer, Dinorá Eliete Floriani, and Mohamed Amal 7 Cybersecurity, Personal Data Protection and Crime Prevention from an Italian Perspective 131 rosanna Pittiglio, Filippo reganati, Federica ricci, and Claudia Tedeschi xi
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