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Sustainability
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Firm Survival and Sustainable Management
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Firm Survival and Sustainable Management

A special issue of Sustainability (ISSN 2071-1050). This special issue belongs to the section "Sustainable Management".

Deadline for manuscript submissions: 5 February 2026 | Viewed by 2666

Special Issue Editors

Prof. Dr. Se-hak Chun

E-Mail Website
Guest Editor
Department of Business Administration, Seoul National University of Science and Technology, Seoul 01811, Republic of Korea
Interests: sustainable management; business analytics; economics of information systems; sustainable financial forecasting; big data research; sustainability; firm survival
Special Issues, Collections and Topics in MDPI journals
Prof. Dr. Moon Young Kang

E-Mail Website
Guest Editor
Department of Entrepreneurship and Small Business, Soongsil University, Seoul 06978, Republic of Korea
Interests: sustainable management; marketing analytics; small and medium enterprises (SMEs); startup; sustainability; firm survival
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

The digital transformation and the pandemic caused by COVID-19 have brought tremendous changes to the global economy, which have had a great impact on the business environment. From the perspective of business administration, firm survival is an important goal for most companies. However, firm survival is not an easy result to achieve, and it becomes more and more difficult as business environments and paradigms shift dramatically.

According to McKinsey, the average life span of companies listed in Standard and Poor’s 500 was 61 years in 1958, but it fell to less than 18 years in 2016. What is even worse is that McKinsey forecasted that 75% of the current Standard and Poor’s 500 companies as of 2016 will not survive by 2027. For this reason, academics, practitioners, and stakeholders have strong desires to increase their understanding of the theories, concepts, and practices associated with firm survival and sustainable management.

The issues of firm survival and sustainable management are not just a trend but an important management philosophy and goal. In addition, studying this issue is an important topic for current and future business. Thus, this Special Issue aims to address issues related to firm survival and sustainable management. We welcome case studies as well as high-quality original research presenting conceptual models, theories, methodologies, empirical results, and applications on diverse aspects of firm survival and sustainable management.

Prof. Dr. Se-hak Chun
Prof. Dr. Moon Young Kang
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Sustainability is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • sustainable management
  • sustainable marketing
  • sustainable firm performances
  • firm sustainability
  • environmental, social, and governance (ESG)
  • ESG and firm performances
  • corporate social responsibility (CSR)
  • creating shared value (CSV)
  • case studies of sustainable management
  • case studies of centenarian companies
  • empirical studies of sustainable management
  • business analytics for sustainable management

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Published Papers (2 papers)

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Research

26 pages, 3095 KiB  
Article
Determinants of Sustainability Maturity in Family Businesses
by Karolina Werner-Lewandowska, Ewa Wiecek-Janka and Grzegorz Pawłowski
Sustainability 2025, 17(5), 1818; https://doi.org/10.3390/su17051818 - 21 Feb 2025
Viewed by 1004
Abstract
Background: Previous research on sustainability has shown that several growing problems—environmental ones related to the uneven implementation of climate protection requirements worldwide; economic ones related to the instability of markets; and finally social ones perceived through the uneven distribution of wealth in [...] Read more.
Background: Previous research on sustainability has shown that several growing problems—environmental ones related to the uneven implementation of climate protection requirements worldwide; economic ones related to the instability of markets; and finally social ones perceived through the uneven distribution of wealth in different parts of the world (globally) and regions related to political and economic instability—particularly affect family firms because of their need for intergenerational continuity. Methods: The aim of our study is to enrich research by defining the factors that determine the maturity level of family firms in terms of sustainability. Given the scarcity of a general sustainability maturity model for family firms, we propose a model that allows for the comprehensive assessment of a family firm’s sustainability maturity. Results: This study examined the sustainability maturity of family firms and identified its determinants in this sector. The results show that family firms often reach the first level of sustainability maturity, but the highest level remains unattainable for them. The determining factor for a high level of sustainability maturity is the number of employees, while the main inhibiting factor is market experience. The overall conclusion leads us to believe that a high level of sustainability maturity can be achieved by a family-owned company with a manufacturing profile, a large payroll, and 30 years of operational experience. Conclusions: The overall findings lead us to conclude that a high level of sustainability maturity can be achieved by a family-owned company with a manufacturing profile, a large payroll, and 30 years of operational experience in the global market, where long-term decisions are made by experts. Full article
(This article belongs to the Special Issue Firm Survival and Sustainable Management)
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14 pages, 1883 KiB  
Article
Korean Templestay as a Sustainable Global Cultural Product: The Case of Manggyeongsansa
by Moon Young Kang
Sustainability 2024, 16(22), 9905; https://doi.org/10.3390/su16229905 - 13 Nov 2024
Viewed by 1170
Abstract
While the trend of de-religiousization has accelerated globally, Korean Buddhism has become very hip around the world. While it was traditionally known as a symbol of a solemn and old religion, with its innovative transformation, Korean Buddhism has gained wide popularity in friendly [...] Read more.
While the trend of de-religiousization has accelerated globally, Korean Buddhism has become very hip around the world. While it was traditionally known as a symbol of a solemn and old religion, with its innovative transformation, Korean Buddhism has gained wide popularity in friendly and trendy atmospheres, especially among people in their 20s and 30s in Korea and abroad, regardless of religion. Thus, Korean Buddhism has a cultural affinity beyond religion, nationality, age, and gender. At the center of this popularization of Buddhism, there exists “Templestay”. Templestay is defined as staying in a Korean temple and experiencing traditional Korean culture, the spirit of Buddhist practice, the natural environment, and the daily life of temples. Templestay was selected as one of the world’s top five most successfully developed tourism and cultural resources by the Organization for Economic Cooperation and Development (OECD), and one of the top 10 icons representing Korea according to the Republic of Korea’s Presidential Council on Nation Branding. Thus, Templestay is not just a Buddhist cultural experience but has been officially recognized as a sustainable global cultural product representing Korea with a history of 1700 years, where a global cultural product is defined as a cultural product that is shared on a global level. Considering Templestay’s wide global popularity, as well as its significant impact on the national economy, tourism, and cultural succession, with over 7 million participants, it is important to investigate Templestay from the perspective of sustainable management, such as CSR, CSV, and ESG. However, while a few studies exist on Templestay, the theoretical aspects of Templestay as a subject of sustainable management have not been sufficiently developed, since most research on Templestay has focused on the perspectives of religion or visitor experiences. Thus, by focusing on Manggyeongsansa Templestay, which was selected as one of the best Korean temples among the 150 temples offering Templestay in 2023, the findings from this case study provide significant implications and practical guidelines for the sustainable management of global cultural products to address fundamental issues from an angle that has not been covered sufficiently. Full article
(This article belongs to the Special Issue Firm Survival and Sustainable Management)
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