What Types of Data Inform Strategic Factors Affecting Sustainability Decisions in Retail?
Keywords:Sustainability, Business impact, retail, data, data-driven decision-making
This paper begins by addressing the business case that a firm, in the retail context, must make to develop sustainability practices. The paper then discusses the strategic factors that shape sustainability decisions regarding the sustainability business case. These decisions are made by firms in the retail industry, with outcomes improving sustainability in processes that allow for innovation and advancements. It discusses internal and external factors, as well as background and driving information such as Stakeholder Theory and information on the retail industry itself. This paper details how data helps a firm transform their corporate strategies
The paper then explores the importance of the data types which inform the aforementioned strategic factors, as well as metrics contributing to the awareness of firms. This creates evidence for a firms’ sustainability business case, detailing how this data helps a firm transform their corporate strategy, contrived from the strategic factors, into action items, which the majority of managers report on struggling with.
This paper brings a new perspective by integrating strategic factors in sustainability, and data in retail on sustainability. This provides a clearer picture to firms on how to allocate their resources most effectively when deciding to, or attempting to, improve sustainability practices. Firms can use data to inform strategic decision making about and implementation of sustainable practices, including for resource allocation and supply chain analysis.
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Copyright (c) 2023 Surbhi Joshi; Melissa Staha
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