Published Online:March 2024
Product Name:The IUP Journal of Business Strategy
Product Type:Article
Product Code:IJBS020424
Author Name:Amit Kumar Sharma and Sandeep Vij
Availability:YES
Subject/Domain:Strategic
Download Format:PDF
Pages:21
This study aims to identify the dynamic capability of the most sustainable company in India’s metal industry that sets it apart, resulting in sustainable business performance. The study uses a mixed-method approach. Based on a content analysis of sustainability reports of 15 companies in the Nifty Metal Index between 2013 and 2018 and rating of the companies for sustainable business performance, Tata Steel Ltd. emerges as the most sustainable company in India’s metal industry. Exploratory research method was used to delineate the dynamic capability of Tata Steel. Strategic corporate social responsibility (SCSR) emerged as the dynamic capability, enabling Tata Steel to positively impact the society and the environment, while ensuring sustainable business performance. Tata Steel’s successful SCSR initiatives yielded multiple benefits, including enhanced reputation, financial gains, and sustainable development. The study contributes to Dynamic Capability Theory and business sustainability literature by demonstrating the effectiveness of SCSR as a dynamic capability. The learnings from the Tata Steel example demonstrate how organizations can utilize SCSR to sustain and grow in a dynamic business environment. Organizations can learn from Tata Steel’s example and implement SCSR to ensure long-term sustainable business performance. The study is the first of its kind and contributes to the Dynamic Capability Theory and business sustainability literature by demonstrating the effectiveness of SCSR as a dynamic capability in the context of metal industry in India.
Dynamic capability is the ability of an organization to sustain its business in a turbulent environment. The capability of an organization to maintain its business operations in a volatile and ever-changing business environment is a critical aspect of sustained success. This involves the ability to perceive and adapt to the unpredictable business landscape and capitalize on opportunities to redefine its business model.