How can SMEs integrate ESG practices into their dynamic capabilities?

Small and medium-sized enterprises (SMEs) can integrate environmental, social, and governance (ESG) practices into their dynamic capabilities by adopting a strategic approach towards sustainability. This involves aligning the business objectives with the triple bottom line (people, planet, and profit) to create value for all stakeholders. SMEs can build a culture of sustainability by incorporating key ESG practices, such as reducing carbon footprint, enhancing environmental performance, promoting diversity and inclusion, increasing transparency, and strengthening stakeholder relationships. By weaving ESG practices into their core dynamic capabilities, SMEs can enhance their competitiveness, identify new business opportunities, and resonate with the growing demands of consumers, investors, and regulators for socially responsible organizations.

This mind map was published on 22 May 2023 and has been viewed 57 times.