Benefits of sustainability initiatives in the KSA

Resumen o Introducción

Sustainability initiatives advocates for a universally collective vision of evolvement towards a civilization that is impartial, nonviolent and viable for humanity. In addition to environmental maintenance and protection, the concept of sustainability enterprises recognizes the urgency required to enhance the quality of life via strategic practices that facilitate the socio-economic development and address a wide range of issues affecting the contemporary society (Asif, 2016). The Kingdom of Saudi Arabia (KSA) outlines the regulatory requirement on sustainability programs through the 2030 Vision along with the National Transformation Program (NTP) 2020 objectives. These goals show KSA commitment towards the attaining sustainable socioeconomic development that cuts across the contemporary civilization, in the midst of growing focus on sustainability initiatives (Alshuwaikhat & Mohammed, 2017). Nonetheless, the importance of sustainability initiatives has provoked renewed interested within the corporate management due to perceptions that these programs are linked to decreased operational costs and improved revenues. Modern research has supported these assumptions as successful sustainability strategies are believed to have a positive impact on the corporate value (Iwaro & Mwasha, 2013). In this regards, the paper seeks to analyze how organizations in KSA are advantaged by sustainability initiatives in the contemporary organizational management.