Organizational sustainability: Issues, challenges and the future of Bangladesh pharmaceutical industry

Abstract

This study aims to contribute to the literature on organizational sustainability and explore the issues, challenges, and prospects of the Bangladesh pharmaceutical industry in terms of sustainability. Organizations around the world are becoming more and more concerned about their ability to reduce or prevent the adverse effects of their actions. Sustainability, socially responsible human resource management (SRHRM), green human resource management (GHRM), characteristics of stakeholders, voluntary green behavior, innovative behavior, and government roles are the main areas of concern. Research and existing literature are explored to have a clear grasp of several organizational sustainability components. This study also shows how organizations understand and implement organizational sustainability concerns and difficulties and how to identify whether essential systemic components are still unaddressed. It's difficult to balance social, economic, and environmental responsibility with sustainability. Enhance SRHRM and GHRM by examining stakeholder characteristics and the government's involvement, combined with voluntary green and creative behavior, to create a positive image for society, the economy, and the environment. This research explores the issues, challenges, and prospects of Bangladesh's pharmaceutical industry's organizational sustainability. In contrast to the age of industry 4.0, artificial intelligence and machine learning concerns about human resource management, stakeholder characteristics, government role, and employee behavior contribute to the organizational sustainability of the pharmaceutical sector. The study presents first insights on the issues, challenges, and prospects of Bangladesh's pharmaceutical industry from the perspective of organizational sustainability. Sustainability, employee green and innovative behavior, SRHRM, GHRM, stakeholder characteristics, and government roles are drawing the attention of organizations globally. They are taking more and more responsibility for how their actions affect the environment, society, and the economy.