Sustainable Development and Corporate Strategy: Theoretical and Empirical Implications

Abstract

The purpose of this study is to assess the theoretical and empirical implications of how sustainable development influences corporate strategy. The study uses the Scoping method to assess the key issues, priorities, and areas of focus in the research on the influence of sustainable development on corporate strategy in the Nigerian context. The study carries out a systematic literature review and expounds on the research findings with respect to the influence of sustainable development on corporate strategy. The findings show that there are few studies that have focused on the influence of sustainable development on corporate strategy in the Nigerian context. The scarcity of studies raises the questions of whether organisations have internal processes for measuring, recognizing, disclosing, and reporting their actualization of sustainable development. Specifically, the study is interested in how sustainable development influences corporate leadership. The leadership tone of organisations is measured by the board of directors and top management attitude arising from sustainable development. The study proposes an analytical framework to assess the gaps in the literature and how these gaps can be resolved by further studies on sustainable development and corporate strategy especially in the Nigerian context. The policy implications of the study are to provide a means through which managers can identify key issues to incorporate in corporate strategy arising from sustainable development issues. The study recommends that organisations have a clear corporate strategy arising from sustainable development issues. However, the cost of this strategy case for sustainable development remains a topical issue in the psyche of investors and business owners. remains an issue of scholarly debate particularly in the Nigerian context where the business