Kurdish Studies

ISSN: 2051-4883 | e-ISSN: 2051-4891
Email: editor@kurdishstudies.net

The Impact of Dynamic Capabilities and a Sufficiency Economy on Corporate Sustainability: Evidence from a Developing Country

Omar S. Arabeyyat
Department of Project Management- Business School, Al-Balqa Applied University, 19117, Salt, Jordan
Ata Al Shraah
Department of Business Administration- Business School, The Hashemite University, Zarqa, Jordan,
Talah S. Arabiyat
Leadership and Entrepreneurship Department- School of Social and Basic Sciences, Al Hussein Technical University, Amman, Jordan
Keywords: Renewable Energy, Corporate Sustainability, Innovation, Developing Countries..

Abstract

Sustainability plays a pivotal role in the competitiveness of all organizations and is becoming a key instrument for long-term economic, social, and environmental performance. There are multiple concepts and definitions of sustainability according to the differences in organizations' missions, objectives, values, strategies, and operations.   However, there is no specific definition of sustainability between practitioners and academics; the meaning of sustainability depends on the perspective or discipline in which it is defined or approached (Catalin & Beverlee, 2015). Consequently, the definition of sustainability should be appropriately composed of the business sector or field with that definition depending on the objectives and strategies of organizations. Moreover, there are vast differences in sustainability practices and applications according to the differences in organizations’ nature, sectors, governments, and even developed or developing countries where these organizations operate (Zeyun Li et al., 2023).  Consequently, this paper explores how the general and executive managers of renewable energy companies in Jordan have ensured corporations founded on a thorough, multifaceted framework that was taken from the literature and investigated corporate sustainability priorities and issues through surveys. The ultimate objective of this research was to combine fundamental and logical priorities for business sustainability and overcome the obstacles and challenges these companies face. Sustainability is a critical component of organizational competitiveness on the social, economic, and environmental fronts and is seen as a vital instrument for boosting long-term performance (Zameer et al., 2021). The notion of sustainability is contingent upon the diversity of organizational missions, objectives, values, tactics, and operations, all of which mirror the multitude of definitions and conceptions held by scholars and practitioners; the definition or framework used to define sustainability significantly impacts how it is understood.To achieve the goals of this research, a systematic approach was used by developing a theoretical framework and model based on the literature. Empirical testing of this model in 56 renewable energy companies in Jordan was then carried out. The Jordanian government has implemented a simple National Energy Strategy (NES) that guides the country's energy transition from 2015 to 2025. This strategy has cut Jordan's energy prices and made more clean and inexpensive energy available to local enterprises, thus allowing them to continue to develop in line with Jordan's 2018-2022 financial Growth Strategy (El-Shawa et al., 2022). Moreover, more studies about corporate sustainability in developing countries such as Jordan must be conducted. As a result, the current study hopes to fill this research gap.

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