Browsing by Author "Cardoso, Leandro Fernandes"
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- Achieving sustainable development: balancing resource allocation and corporate social responsibility in modern business practicesPublication . Cardoso, Leandro Fernandes; Pedro, Ilda Maria HortaThe study "Achieving Sustainable Development: Balancing Resource Allocation and Corporate Social Responsibility in Modern Business Practices" looks at how businesses in the Algarve region of Portugal integrate sustainable development, resource allocation, and corporate social responsibility (CSR). In a rapidly global context, it focuses on how these companies balance economic goals along environmental and social responsibilities. Key findings indicate that companies increasingly recognize the strategic importance of integrating sustainability into their core operations. There is in fact a positive correlation between CSR initiatives and financial performance, ultimately showing that businesses effectively balancing resource allocation with CSR efforts experience enhanced profitability, market share, and stronger community relations. This suggests that CSR is not a simple ethical obligation but also a strategic asset with clear business benefits. The study advocates for a wider definition of business efficiency, which traditionally focuses on economic metrics like profit and costs. It suggests that efficiency should also include environmental- and social responsibility aspects. This holistic view is consistent with the Sustainable Development Goals (SDGs) established by the United Nations, focusing on economic growth, social justice, as well as environmental protection. The research used quantitative data approach, surveying 120 companies in the region of the Algarve with a response rate of 23.33%, thus resulting in a modest sample of 28 companies. The analysis was performed using IBM SPSS software (version 29) and provided valuable insights into how these companies approach CSR as well as resource allocation. In spite of positive findings, the study highlights challenges in the measurement of actual return on investments (ROI) of CSR initiatives due to inappropriate measurement tools, especially for smaller companies with fewer resources. Ultimately, this study recommends that businesses widen their definition/perception of efficiency, integrate CSR into core business strategies, focus on innovation, and use key performance indicators (KPIs) to balance short-term costs with long-term benefits. It also emphasizes the need for technological advancements and much more appropriate tools to measure the impact of CSR efforts accurately.