Stakeholder Focus in Sustainability Management – Statistical Analysis of the Hungarian Micro-Enterprises

Vivien Surman, Elvira Böcskei, Imre Dobos
Statistika, 105(4): 448–462
https://doi.org/10.54694/stat.2024.65

Abstract
The pursuit of sustainable development has emerged as a pivotal concern in contemporary business discourse. Sustainable development is increasingly important for businesses, including micro-enterprises, which must address sustainability challenges to stay competitive and viable. A key aspect of corporate sustainability is understanding stakeholder dynamics and translating their needs into business practices. Our research, using a questionnaire, examined the relationship between sustainability pressures from six key stakeholders on Hungarian microenterprises. We also explored whether distinct groups of variables could be identified based on the perceived directions of these sustainability pressures. Our findings, grounded on optimal scaling and multidimensional scaling analyses, reveal a clear link between how micro-enterprises monitor stakeholder activities and the focal points of these stakeholders' impact concerning sustainability. Managers must prioritize stakeholders based on their influence, whether through legal regulations, social values, or financial factors. This prioritization helps micro-enterprises effectively target their sustainability efforts, enhancing performance and long-term success.

Keywords
Sustainability, stakeholders, optimal scaling, micro enterprises, sustainable business