本研究以N直銷公司為個案，探討在高度依賴人際網絡與信任關係之直銷產業情境下，企業如何透過協同外部資源推動永續發展目標（SDGs），並以ESG構面分析其永續治理之運作邏輯、構面優先順序及價值內化歷程。本研究採質性研究方法，透過半結構式深度訪談蒐集資料，並以主題分析法進行資料分析，結合「意義建構」、「行動實踐」與「反思轉化」三層理論，從認知、行動與內化三層次進行整合性分析。
研究結果顯示，ESG構面在直銷產業中呈現不同於一般產業之運作邏輯，其永續推動核心並非以環境績效為主，而是以社會（S）與治理（G）構面為優先。企業透過健康促進、公益參與以及能力培力等社會行動，強化組織成員之同理心與價值認同；並透過制度設計、法規教育與資訊透明等治理機制，建立信任基礎與制度正當性。相較之下，環境（E）構面多透過參與式活動發揮價值傳遞與文化擴散功能。
此外，研究發現外部資源（如產業協會、基金會及專業機構）在永續推動中扮演關鍵角色，其透過制度支撐、專業輸入與社會連結，促進企業由單一行動轉化為系統性治理模式。透過情感共鳴、實際參與與長期累積，組織成員逐步形成自我效能與身分認同，進而促成永續價值之內化與共創，並透過跨構面整合形成整體永續治理效果。
本研究在理論上補充直銷產業於ESG與SDGs之實證研究，並提出「產業特性導向之永續治理模式」；在實務上，建議企業應依產業特性進行ESG構面之策略性排序與資源配置，以提升永續治理效益與社會信任。

This study adopts Company N as a case to examine how direct selling enterprises, operating in a context highly dependent on interpersonal networks and trust relationships, collaborate with external resources to promote the Sustainable Development Goals (SDGs). From an Environmental, Social, and Governance (ESG) perspective, this study further explores the operational logic, priority structure, and value internalization process of sustainable governance within the direct selling industry.
A qualitative research approach was employed, using semi-structured in-depth interviews for data collection. The data were analyzed through thematic analysis, integrating a three-layer theoretical framework consisting of meaning construction, action practice, and reflective transformation. This framework enables a comprehensive analysis of sustainability practices across cognitive, behavioral, and internalization dimensions.
The findings reveal that the ESG framework operates differently in the direct selling industry compared to conventional industries. Rather than being driven primarily by environmental performance, sustainability practices in direct selling are more strongly centered on the Social (S) and Governance (G) dimensions. Social initiatives—such as health promotion, public welfare engagement, and capability development—enhance empathy and value identification among organizational members. Meanwhile, governance mechanisms—including institutional design, regulatory education, and information transparency—play a critical role in establishing trust and institutional legitimacy. In contrast, the Environmental (E) dimension primarily functions as a medium for value communication and cultural diffusion through participatory activities.
Furthermore, external resources—such as industry associations, foundations, and professional institutions—are found to play a pivotal role in facilitating sustainable governance. Through institutional support, professional input, and social linkage, these external actors enable firms to transform isolated sustainability actions into a systematic governance model. Over time, emotional resonance, active participation, and accumulated engagement foster self-efficacy and identity recognition among members, ultimately leading to the internalization and co-creation of sustainability values. This process is further strengthened through cross-dimensional integration, forming a holistic model of sustainable governance.
Theoretically, this study contributes to the limited empirical research on ESG and SDGs within the direct selling industry and proposes an industry-specific sustainable governance model. Practically, the findings suggest that firms should strategically prioritize ESG dimensions based on industry characteristics to optimize resource allocation and enhance both governance effectiveness and social trust.

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