Influence of Sustainable Leadership Practices upon Businesses in India: Challenges and Opportunities
Keywords:
sustainable leadership, corporate social sustainability, environmental, social, governance (ESG), Business Responsibility and Sustainability Reporting (BRSR), India Inc, sustainable business practicesAbstract
Background: The current study is an attempt to provide an overview on sustainable leadership, the less explored leadership style and its impact upon the businesses in India towards the adoption of sustainability in their business practices. The study further listed the challenges and opportunities available for the India Inc to reap the benefits and overcome the issues in adopting sustainability aspect into their short- and long-term goals. Methodology: The current narrative review collates the concepts and empirical findings published in standard books, journals, corporate reports, government notifications, conference proceedings, news articles etc., Results: Based on the review of literature, this study found that sustainable leadership is yet to gain popularity among Indian businesses though the concepts of sustainability reporting like ESG and BRSR followed by CSR activities have been prevalently practiced. The study approached the sustainability concept in India Inc through 3Ps such as the person, process and the planet. Further, the challenges and opportunities are also discussed. Implications: From the study findings, key takeaways have been provided for a wide range of audience such as the research-academia, decision makers, start-up owners, governments, regulatory bodies, NGOs and so on for prevalent adoption of sustainability practices into business strategies for achieving the SDGs within 2030.
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