The Challenges Faced by Stakeholders in Implementing Sustainable Strategic Management Practices (SSMP) in the Food Industry: A Systematic Literature Review (Published)
Strategic management has turned out to be an important business aspect that businesses cannot do without. This study intended to have a better understanding with regards to the challenges that are faced by various stakeholders as they are implementing Sustainable Strategic Management Practices (SSMP). This research study’s main purpose was to categorically articulate the challenges that are being faced by stakeholders in the food industry in implementing SSMP. The Systematic Literature Review (SLR) approach was performed using a six-phase approach. In each stage, the literature is reviewed and reduced, where the paper was seeking to retain only the most appropriate literature that was very close to what the paper was looking forward to most relevant articles. Ultimately, the process resulted in 121 journals that were reviewed and analyzed in relation to the research topic using the SLR approach. The findings of the study indicated that there are a number of impediments that tend to emanate from the internal and external environment which act as challenges for the implementation of SSMP within the food industry. It has been noted that there are issues to do with the scarce resources, the regulatory environment amongst others. The study therefore concluded that for effectiveness the businesses need to monitor with efficiency the internal and external business environment for sustainable implementation of SSMP.
Keywords: Business Environment, Challenges, Stakeholders, Strategic Management, food industry, systematic literature review
Theoretical Analysis of Globalisation and Corporate Performance in Chemical Industry: The Mediating Role of Corporate Governance (Published)
Good corporate governance practice is a major yardstick for standardizing business practices in the midst of a high rate of diversities and inconsistencies in global business practices. Industries are operating in a global business environment that is deeply embedded in interdependency, and is being subjected to good corporate governance requirements. In this sense, the paper examined the definitions of corporate governance, its principles and control mechanisms. It also focused on the phenomenon of globalization and links it with good corporate governance principles that can promote values in the area of code of conduct in supporting excellence and the creation of an ethical culture in the industry. The study suggested a framework for chemical industries for enhanced performance and their continuous growth and development of industries. It is concluded that globalization is a phenomenon that has assumed a new proportion in present day global political economy for which companies must equip and package themselves effectively and thoroughly to face their challenges in the 21st century. In recommendation, managers of industries must strictly follow principles/regulations of corporate governance in a global economy.
Keywords: Business Environment, Companies, Corporate Governance, Globalisation