Yonsei Business Research Institute

Professor HOYOUNG LEE of the Center contributed to the Small and Medium Business News on December 20, 2021 under the theme of "How to Connect Core Competencies with ESG Management Performance." In the article, Professor Lee stated "As the interest of various stakeholders, including investors, customers, and regulators, increases significantly, major companies are promoting their ESG management performance in various ways. However, it is practically impossible for most SMEs under relatively limited resources to benchmark the ESG management performance of large companies." Concerns are becoming a reality that if the counterparty forces ESG standards, it will act as an additional risk factor for small and medium-sized enterprises that lack financial and human capacity to properly cope with them. "Small and medium-sized companies do not have to imitate what large companies with different characteristics from their business models do well, and they need to find ESG indicators that can create the greatest synergy by connecting them with core competencies," he stressed.

Link : http://www.kbiznews.co.kr/news/articleView.html?idxno=89759