Multi-stakeholder simulation models for corporate sustainability strategy and long-term financial performance assessment
Strategic Design and Management, School of Design Strategies, The New school, USA.
Research Article
World Journal of Advanced Research and Reviews, 2022, 16(03), 1312-1338
Publication history:
Received on 04 November 2022; revised on 22 December 2022; accepted on 28 December 2022
Abstract:
Corporate sustainability strategies today tend to need advanced analytical methods. They combine the views of many stakeholders and still accurately forecast the effects on finances over the long run in challenging business environments. Evaluating the relationship between sustainability strategies and finances has become much easier thanks to multi-stakeholder simulation models. This is especially important in the constantly changing corporate environments of America and the UK. Through these simulation frameworks, companies are capable of simulating differing situations involving environmental, social and governance factors. At the same time, they consider how their actions shape both value to stakeholders and their future profit. Analyzing sustainability decisions with advanced methods helps corporations track the financial outcomes over different periods. In addition, simulation models help reveal the best ways to use resources. By doing this, these strategies ensure balance among the parties involved and bring in higher profits and better environmental results. Here, we study how multi-stakeholder simulation models can be used both for theory and in practice to improve corporate sustainability strategy development. It examines whether these models predict long-term performance well over the years. Moreover, the article explains how these models guide strategic choices by merging stakeholder relationships and criteria for sustainability into sensible performance evaluation methods. Simulation modeling shows that businesses performing multi-stakeholder analysis are usually more successful in correlating their sustainability goals with profitability than those that rely on single-stakeholder strategies.
Keywords:
Sustainability; Multi-Stakeholder; Finance Modeling; Corporate Strategy; Simulation Models
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Copyright © 2022 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0