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<p>The primary aim of this research is to investigate the relationship between strategic sustainability and firm success within the real estate sector. Specifically, it aims to assess how strategic sustainability factors, notably business strategy and management, influence sustainability performance. By exploring this uncharted territory, the study seeks to provide insights into the role of strategic sustainability in enhancing an intangible value in terms of sustainability performance. Through quantitative data gathered from the Latvian real estate industry, the research study demonstrates that greater emphasis on business strategy efforts and activities is positively associated with improved sustainability performance. Moreover, it establishes a correlation between enhanced management practices and higher sustainability performance. Ultimately, this research contributes to our understanding of how strategic sustainability can drive the long-term sustainability and success of real estate businesses, benefitting regions, nations, and the global community.</p>
</abstract>

The primary aim of this research is to investigate the relationship between strategic sustainability and firm success within the real estate sector. Specifically, it aims to assess how strategic sustainability factors, notably business strategy and management, influence sustainability performance. By exploring this uncharted territory, the study seeks to provide insights into the role of strategic sustainability in enhancing an intangible value in terms of sustainability performance. Through quantitative data gathered from the Latvian real estate industry, the research study demonstrates that greater emphasis on business strategy efforts and activities is positively associated with improved sustainability performance. Moreover, it establishes a correlation between enhanced management practices and higher sustainability performance. Ultimately, this research contributes to our understanding of how strategic sustainability can drive the long-term sustainability and success of real estate businesses, benefitting regions, nations, and the global community.

Impact of Strategical Sustainability on Real Estate Industry’s Sustainability Performance

Foundations of Management

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

The primary aim of this research is to investigate the relationship between strategic sustainability and firm success within the real estate sector....

Dependent variable	Sustainability performance
-	β	Std. Dev.
Controls	-	-
No. of participants	-3.85E-5*	1.66E-5
Main effect	-	-
Business strategy	0.190*	0.081
Management	0.054	0.088
Model summary	-	-
F	15.610***	-
R²	0.391	-
Adjusted R²	0.354	-

Variables	Mean	Std. Dev.	1	2	3	4	5	6
Business strategy	3.12	0.958	0.722**	0.746**	0.752**	1.000	-	-
Management	3.54	0.773	0.706**	0.755**	1.000	-	-	-
Sustainability performance	2.52	0.638	0.528**	0.517**	0.523**	0.557**	0.613**	1.000

Variables	Cronbach’s α
Business strategy	0.891
Management	0.756
Sustainability performance	0.749

Impact of Strategical Sustainability on Real Estate Industry’s Sustainability Performance

Pubblicato online: 30 apr 2024

Pagine: 59 - 66

DOI: https://doi.org/10.2478/fman-2024-0004

Parole chiave
strategic sustainability, construction management, real estate industry, business strategy

© 2024 Rashmi Jaymin Sanchaniya et al., published by Sciendo

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

Figure 1.

Regression effects of sustainability performance. (Source: Authors’ own research)

Intercorrelation of variables. (Source: Authors’ own research)

Measurement instrument. (Source: Authors’ own research)

Impact of Strategical Sustainability on Real Estate Industry’s Sustainability Performance

Pubblicato online: 30 apr 2024

Pagine: 59 - 66

DOI: https://doi.org/10.2478/fman-2024-0004

Parole chiavestrategic sustainability, construction management, real estate industry, business strategy

© 2024 Rashmi Jaymin Sanchaniya et al., published by Sciendo

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

Figure 1.

Regression effects of sustainability performance. (Source: Authors’ own research)

Intercorrelation of variables. (Source: Authors’ own research)

Measurement instrument. (Source: Authors’ own research)

Parole chiave
strategic sustainability, construction management, real estate industry, business strategy