Volume 21, Number 1, June 2026
| ESG Strategies for Corporate Sustainability: A Hybrid Balanced Scorecard DANP Approach
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Abstract
This study develops an integrated decision-making framework to identify the most appropriate ESG implementation strategy for corporate sustainability. Using the four Balanced Scorecard perspectives, financial, customer, internal process, and learning and growth, as its analytical foundation, the study incorporates 16 ESG-related factors to examine the interrelationships among strategic dimensions and, based on these relationships, prioritize ESG implementation strategies. Data were collected through interviews and questionnaire surveys involving 15 experts with relevant practical and academic expertise. The DEMATEL results show that the internal process perspective has the highest prominence, whereas the learning and growth perspective exerts the strongest causal influence. This finding indicates that organizational capabilities and process design are key drivers of financial and customer performance. The DANP results further reveal that the internal process perspective is the most important dimension, followed by the financial, customer, and learning and growth perspectives. At the factor level, the top five priorities are innovation in products and services, environmental efficiency and resource management, stakeholder relationship management, product safety and quality, and green supply chain management. Among the three ESG alternatives, governance ranks first, followed by environmental and social strategies. These findings suggest that firms should first strengthen governance mechanisms and internal process management, and then progressively advance sustainability initiatives in the environmental and social domains.
Keywords: ESG, Corporate Sustainability, Balanced Scorecard, DANP
JEL Classification: M14, Q56, C44