CROWDSOURCING FOR BUSINESS STRATEGY AND SUSTAINABILITY: A PARTIAL LEAST SQUARE STRUCTURAL EQUATION MODEL

Abstract

Purpose. The goal of this research was to scrutinize how business strategy helps to increase business sustainability by considering the roles of quadratic effects and students’ Innovation in the formation of business. It is worthwhile to investigate the role of partial least square structural equation modeling (PLSSEM) in crowdsourcing business strategy approaches toward sustainability. Methodology. To attain these goals, we conducted quantitative research, which included firstorder by three dimensions of business strategy for the analyzed reflective model. In order to gather quantitative data and identify the predictor factors that affect the sustainability associated with the quadratic effects, a thorough exploratory PLSSEM strategy was applied. Findings. The participants (N = 218) studying at Daffodil International University (DIU) in Bangladesh took part in the online survey. The findings indicate that DIU students’ intention for businesses strategy is conscious of the potential changes, and that they have begun to build internal processes geared toward sustainability. Also, the firstorder constructs are the selection of environment, longterm behavior, and strategical involvements management resources into business strategies which have a positive correlation with the significant impact on business sustainability. While business strategy contributed to the formation of an innovative sustainability model, the presence of a linear effect and a positive parabolic effect was statistically significant. Finally, business strategy has a favorable impact on sustainability with both linear and parabolic effects. Originality. Business strategy is proved to have contributed to forming an innovative model of sustainability, having a linear effect and a positive parabola effect as statistically significant. As a result, business strategy has a beneficial impact on sustainability, with both linear and parabolic effects. These findings have ramifications for how potential entrepreneurs handle their businesses in order to improve sustainability. Practical value. The results show that business strategy is essential for aspiring entrepreneurs to increase creativity and efficiency in the direction of sustainability.