Sustainability: Environmental, social and corporate governance performance in Czech SMEs

Abstract

The paper focuses on environmental, social and corporate governance performance in relation to business sustainability in small and medium enterprises in the Czech Republic. Corporate Governance is understood as a key element when achieving economic performance as well as growth enhancing the investors' trust. It also makes it possible to create structures supporting the determination, checking and achievement of the objectives of the enterprise. It creates suitable initiatives for the members of the administrative bodies and the management. In the integration with sustainability, featured as the business strategy, the long-term corporate objectives, efficiency, performance, competitiveness are pursued through the inclusion of economic, environmental and social aspects to the corporate management. The sustainability of small and medium enterprises in the Czech Republic may bring about its effects in practice through the analyses of environmental, social and corporate governance performance, increased interests of uninvolved groups in the issues, competitiveness, increased market share etc. The inclusion of sustainability in the corporate management of an enterprise calls for a change in business. The target of the paper is the empirical analysis of the environmental, social and corporate governance performance in small and medium enterprises in the Czech Republic.