A System’s Approach to Sustainability: Steel Authority of India Limited
Anoop Joshi and Soma Arora
School of Leadership and Management, ManavRachna International Institute of Research & Studies MRIIRS, Faridabad, Haryana, India
Sanjay Srivastava
Vice Chancellor and Managing Director MRIIRS, Faridabad, Haryana, India
Volume 18: 2023, pp. 385-400; ABSTRACT
This case based research article aims to demonstrate the correlation between strong stakeholder engagement in a company and its ability to uphold United Nations Sustainable Development Goals (UNSDG) principles at the national level under the aegis of self-sufficiency initiatives in an emerging market. In India, achieving UNSDGs is a top priority, which is evident from substantial government initiatives and funding. Success hinges on public sector enterprises garnering support from vested stakeholders. The case study focuses on a behemoth Indian Public Sector Unit, PSU- SAIL. It starts by conducting a materiality assessment, connecting it to national UNSDGs for optimal business outcomes. This assessment involves perception mapping, stakeholder prioritization, engagement, and matrix integration. The resultant four-quadrant matrix becomes a tangible output. This helped the company to establish the link between successful UNSDG attainment, high stakeholder engagement, and superior business performance. The findings underscore four key areas where a combination of stakeholder engagement and institutional support can significantly advance Sustainable Development Goals (SDGs).
Keywords: Asia, economic development, CSR, socio-economic environment, stakeholders
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