Exploring the Impact of Sustainable Development Strategies on SME Performance: A Sector, Size, and Age Perspective
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Abstract
Purpose: This study conducts a comparative analysis of the impact of sustainable development approaches on the organizational performance of Small and Medium-sized Enterprises (SMEs) in Colombia, segmented by sector, size, and age. Methodology: The research employed a descriptive and quantitative evaluation based on primary data from a survey of 4,600 SMEs across five regions of Colombia. Furthermore, a Neural Network model was utilized to explain how the importance of specific characteristics (behavior, attitude, and knowledge) related to sustainability varies in relation to organizational performance depending on the company's sector, size, and age. Findings: The main findings reveal significant differences in attitude, behavior, and knowledge regarding the barriers and benefits of implementing environmental strategies aligned with SDG 12 ("Responsible Consumption and Production"). While some SMEs are achieving a considerable level of corporate sustainability, others remain in the nascent stages of this journey. This result suggests that there is substantial room for Colombian SMEs to enhance the integration of sustainable practices into their business operations. Originality: This study provides a valuable large-scale comparative view of SDG implementation within the Colombian SME context, offering a robust empirical basis for future research and strategies aimed at fostering sustainability and the circular economy in the region.
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