Exploring responsible management practices and strategies to promote sustainable development in South African companies

Abstract

The research problem is the lack of knowledge about management practises and strategies employed in private South African organisations to ensure responsible management (RM), which limits our understanding of RM and its conduct. The purpose of the study was to explore the extent to which RM practises and strategies are being implemented by senior managers in private South African organisations and to identify the challenges and opportunities of implementing these practices. The research also seeks to understand how RM practises can be used to achieve the United Nations (UN) Agenda 2030 Sustainable Development Goals (SDG) and what specific practises can be identified for broader application in promoting sustainable development. Responsible managers are needed to establish and sustain an ethical, responsible, and sustainable economic framework. The implementation of RM practises requires competencies in ethics, responsibility, and sustainability. Ten senior managers from private South African companies who are involved in sustainable development strategies voluntarily participated. The study employed a cross-sectional exploratory research design and a qualitative research approach. Semi-structured interviews were conducted to collect qualitative data from a purposively selected sample. The data transcripts from interview recordings were thematically analysed to answer the research questions. The findings showed that, overall, managers demonstrate a commitment to RM practises and strategies to promote sustainable development, provided they have the competence to do so. It was clearly indicated in the interview data that South African private organisations have a good understanding of the UN Agenda 2030 SDGs, and they prioritise RM practises such as environmental sustainability, community engagement, ethical sourcing, diversity and inclusion, responsible finance, water and waste reduction, and sustainability reporting and communication. A managerial implication for organisations that set themselves out to conduct RM and sustainability is that they should develop their managers' ethical, responsibility, and sustainability competence to ensure the integration of RM practises into their daily operations, including ethical investments and sustainability-aligned supply chains and operations. Transparency, reporting, community engagement, diversity, and inclusion are emphasised as crucial elements of RM practices. Collaborations and partnerships with various organisations are also recommended to contribute to RM practises and sustainable development. Adopting RM practises and strategies reduces costs, improves operational efficiency, and strengthens corporate citizenship. Overall, RM strategies contribute to long-term sustainability, profitability, and success.