Business Sustainability Practices in the View of the Triple Bottom Line Model: The Case of Oromia Regional State Foreign Firms, Ethiopia

Abstract

As stakeholder awareness grows, organizations' attention to business sustainability practices increases to meet their expectations. The purpose of this article was to evaluate the sustainability practices of the Oromia Region using the TBL model. The study used a sample size of 745 respondents drawn from key stakeholders such as customers, employees, members of the local community, and concerned government officials. The data were analyzed using a nonparametric hypothesis test as well as descriptive statistics techniques, as the data distribution didn't meet the parametric tests' assumptions. Consequently, the findings showed that business sustainability practices have a significant association with the environment, profit, and people. Moreover, business sustainability practices in the region were discovered to be at a viable stage in the TBL model. Sustainable operations could bring business reputation, which in turn gives rise to better returns in the long run. This article is novel in its nature to address the framework of the business sustainability phase in the Oromia regional state, which will further initiate academia and practitioners to delve into the issue. Thus, all the key stakeholders should
collaboratively work together towards optimal business sustainability.