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Volume 12, Issue 3

The European Green Deal: From Inception to Innovation
Original Research
The study looks at the green transformation of our future, which may be unfamiliar to many, and the path and milestones towards a sustainable and green Europe. It's importance is crucial, because if the European Union is successfully put on a sustainable and green path by 2050, the continent will benefit from its economic and innovative advantages. The aim of this research is to present and explore the precursors that ultimately led to the Green Deal. Today, the Green Deal is the most comprehensive and far-reaching EU sustainability strategy for the period up to 2050. What other alternative sustainability strategies existed in front of the EU? Why did the creation of a circular economy become important as opposed to a linear economic model? What sovereignty and security risks does a green economic transition allow Europe to reduce? In this paper, we bring together the alternative sustainability solutions that the EU faced and that still influence the transformation of its economy today. The two possible policy development models currently facing Europe could have a profound impact on the future implementation of the Green Deal and the achievement of its goals. A comparative assessment of these models has shown why it is important for Europe to achieve the objectives of the Green Deal and the associated growth in economic development and global competitiveness, and to reduce its dependence on imports of energy and raw materials. We found that the creation of the Green Deal was a direct consequence of the political and economic development path that the EU chose for itself, while the challenge posed by a competing political model would certainly mean the end of the GD program and the economic decline of the EU. This possible political model would undermine the cooperation between the member states that has resulted in the creation of a single market, which would lead to the failure of the Green Deal and the deterioration of the quality of life of European citizens, the further exploitation of the natural environment, and ultimately the collapse of the Union.
Journal of Business and Management Sciences. 2024, 12(3), 119-129. DOI: 10.12691/jbms-12-3-2
Pub. Date: April 29, 2024
Diversity and Inclusion in Institutional Governance: The Role of Demographic Heterogeneity of Boards and Executive Committees in Organizational Effectiveness
Original Research
The issues of governance diversity have taken center stage with many organizations seeking to be compliant to regulatory requirements and reaching the diversity thresholds set up by different frameworks. The composition of any institutional board should be taken seriously as the board has the mandate to oversee the management decisions in taking the organization forward. Most diversity studies look at gender diversity, age diversity, ethnic diversity and educational diversity. However, it appears the conclusions stop at determining their role in creating organizational effectiveness. This study set out to achieve two things as guided by the research questions. First was to determine the nature, strength, and statistical significance of the relationship between independent variables (gender diversity, age diversity, ethnic diversity and educational diversity) and the dependent variable (Board Effectiveness). Second was to identify principal determinant among the independent variables to the board effectiveness. This study found that all listed independent variables have a linear and positive correlation which is statistically significant. Results showed relationship between independent variables and dependent variable board effectiveness to be positive and statistically significant (education diversity r = .419; p=<.001; age diversity r=.183, p=<.05; gender diversity r=.172, p=<.05; ethnic diversity r=.345, p=<.001). However, in identifying the principal determinant of board effectiveness, it was found that education diversity on the board had the highest coefficient which was also statistically significant (standardized beta .318 and p-values <.05) while the ethnic diversity was .244, and p-value <.05 with age diversity at .183 and p-value <.05. It has also been found that gender diversity contributes weakly to the variability in board effectiveness, which is not statistically significant, standardized beta .061, p-value >.05. Therefore, it can be said that the best way to increase gender participation at the governance levels is through development of experience, expertise and higher education. In this study n=160; Cronbach’s Alpha=.687; KMO=.698 and Bartlett’s Test of Sphericity =<.001.
Journal of Business and Management Sciences. 2024, 12(3), 111-118. DOI: 10.12691/jbms-12-3-1
Pub. Date: April 29, 2024