Linking stakeholders need and sustainable business performance: Unleashing the power of shared value creation for competitive advantage—Study on selected banks in Ethiopia

IF 4.8 Q1 BUSINESS Business Strategy and Development Pub Date : 2024-05-03 DOI:10.1002/bsd2.375
Bekan Serbessa Waktola, Manjit Singh, Sandeep Singh
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Abstract

Integrating social and environmental considerations into business strategies has become imperative for companies seeking competitive advantage in today's dynamic and complex business environment. This study explored the effect of Shared Value Creation Practices on Competitive Advantage within banks. The study focused on how banks can achieve competitive advantage by creating shared value that addresses business goals and social needs. Data were collected from 463 customers of selected commercial banks in Ethiopia. The self-administrative questionnaire was given to the customers selected by convenience sampling method. The study used the Structural Equation Model to test relationship between variables. The Study findings reveal that Shared Value Creation Practices significantly enhance banks' competitive advantage. The study suggests that banks can strategically leverage Shared Value Creation practices to gain a sustained advantage in a competitive market. Banks should continuously innovate and adapt strategies to address evolving stakeholders' needs. The banks should consider shared value creation integral to their strategic planning.

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将利益相关者的需求与可持续经营业绩联系起来:释放共享价值创造的力量,提升竞争优势--对埃塞俄比亚部分银行的研究
在当今动态而复杂的商业环境中,将社会和环境因素纳入企业战略已成为企业寻求竞争优势的当务之急。本研究探讨了共享价值创造实践对银行竞争优势的影响。研究重点是银行如何通过创造共享价值来满足业务目标和社会需求,从而实现竞争优势。数据收集自埃塞俄比亚部分商业银行的 463 名客户。通过便利抽样法向客户发放了自我管理问卷。研究采用结构方程模型来检验变量之间的关系。研究结果表明,共享价值创造实践极大地增强了银行的竞争优势。研究表明,银行可以战略性地利用共享价值创造实践在激烈的市场竞争中获得持续优势。银行应不断创新和调整战略,以满足利益相关者不断变化的需求。银行应将共享价值创造视为其战略规划的组成部分。
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来源期刊
Business Strategy and Development
Business Strategy and Development Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)
CiteScore
5.80
自引率
6.70%
发文量
33
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