INTEGRATED SYSTEM DETERMINANT OF DEVELOPMENT STRATEGY AND ASSESSMENT OF BUSINESS SUSTAINABILITY

• Main Authors: Gorshkova Ludmila, Sandulyak Svetlana
• Format: Article
• Language: English
• Published: Peter the Great St. Petersburg Polytechnic University 2020-08-01
• Series: Научно-технические ведомости СПбГПУ: Экономические науки
• Subjects: determinant; strategy; sustainable development goals; sustainability; intellectual capital; financial sustainability; information sustainability; environmental sustainability; situational sustainability
• Online Access: https://economy.spbstu.ru/article/2020..09/

In the current situation associated with the onset of the widespread economic crisis caused by the crown of the viral pandemic, when production, financial markets, consumer demand for goods and services stopped at the same time, the concept of maintaining and developing business sustainability is becoming increasingly relevant. With fewer losses, those enterprises that can build viable business models in a timely manner have a chance to overcome the crisis. Orientation of organizations' development strategies to the global sustainable development goals adopted by the global business community provides significant benefits for companies and increases business stability. Studies by international consultants show that Russian companies have not yet developed a full understanding of the importance and necessity of using sustainable development goals in their strategic and operational plans. The authors of the article consider five determinants that form, according to the authors, a complex system: intellectual; financial, informational, environmental and situational sustainability. A brief description of the identified determinants is given, the research results of foreign and domestic scientists are analyzed, individual indicators, criteria, tools and methods for assessing the stability of each determinant are given, and problem areas are identified. In practice, the assessment of the sustainability of different elements of a business is most often carried out separately from each other without taking into account their interdependence and mutual influence, which has negative consequences for balancing the strategic goals of the enterprise. The article proposes the use of a "cross-cutting" approach in assessing the sustainability of basic determinants and their integration with the global goals of sustainable development. The element-by-element composition of the complex system of determinants proposed by the authors and the three-level scheme of the relationship between the KSD and the global sustainable development goals is described and illustrated in a structured way. At the first and second level - global goals of sustainable development, grouped by their focus (economic, environmental, social). The third internal level (core) of the scheme is an economic entity with a set of determinants to be evaluated for their resistance to external and internal influences. The advantages of the integration of sustainable development goals in the business strategy of enterprises are formulated, which ensure the success of the business entity.