Strategic Management and Stakeholder Engagement: A Case for Environmental Sustainability

Abstract

There has been an increase in industrial activity in the last few decades, but we must not lose sight of the importance of protecting the natural world. Industry stakeholders are concerned because we have yet to determine the long-term effects of this significant issue. Environmental sustainability is crucial given the world’s increasing population, industrialization, and mounting evidence of climate change, environmental degradation, and global warming. Organizations have made significant efforts to reduce their environmental impact, and this study will explore the obstacles they must overcome to become environmentally sustainable. The study’s findings may have important implications for businesses, clients, stakeholders, and the environment. The application of stakeholder theory has improved our understanding of company behavior, particularly in a dynamic and rapidly changing business environment, where environmental concerns are gaining traction. The purpose of expanding stakeholder theory could be to create fair value for all stakeholders while benefiting society and the environment.