Vol. 3 No. 2 (2024): The QUEST: Journal of Multidisciplinary Research and Development (Articles in Press)
Articles

Sustainability Practices of Small and Medium Enterprises (SMEs) in China: Basis for Strategic Plan

  • Lingchao Kong,
  • Nestor Natividad
Lingchao Kong
Rizhao Maternal and Child Health Hospital
Nestor Natividad
Nueva Ecija University of Science and Technology
DOI: https://doi.org/10.60008/thequest.v3i2.200

Published 09/28/2024

Keywords

  • Small and medium-sized enterprises (SMEs),
  • Sustainability practices,
  • Strategic Plan

How to Cite

Kong, L., & Natividad, N. (2024). Sustainability Practices of Small and Medium Enterprises (SMEs) in China: Basis for Strategic Plan. The QUEST: Journal of Multidisciplinary Research and Development, 3(2). https://doi.org/10.60008/thequest.v3i2.200

Copyright (c) 2024 The QUEST: Journal of Multidisciplinary Research and Development

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

Abstract

The study presents a comprehensive analysis of small and medium sized enterprises (SMEs) situated in Rizhao City, Shandong, China, focusing on their profiles, sustainability practices, challenges, and a proposed strategic plan. The respondents, SME managers, play a crucial role in shaping sustainability strategies. Among the key findings, 70% of surveyed companies adopt a corporate organizational structure, while 45% primarily operate in the manufacturing sector. SMEs in China exhibit a strong commitment to economic, social, and environmental sustainability practices, with notable percentages actively seeking cost reduction through sustainability, monitoring financial impacts, and investing in research and development for sustainable innovation.

Economic challenges, including difficulties in securing funds for sustainable projects, dominate the SME landscape (88%). Social challenges emphasize meeting community expectations (80%), and environmental challenges center on reducing carbon footprints (90%). The proposed strategic plan advocates phased sustainability investments, diversification of funding sources, talent management, and a circular economy approach to address economic, social, and environmental challenges collectively. The study recommends internal reviews of organizational structures, cross-industry collaboration, exploration of alternative financing, and robust monitoring and evaluation systems to enhance SMEs' success in China's dynamic business environment. These recommendations underscore the importance of adaptive, innovative approaches to foster sustainability and resilience in SMEs while contributing to societal well-being and environmental conservation.

Full Paper

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