SUSTAINABILITY AS A MECHANISM FOR ENSURING SUSTAINABLE DEVELOPMENT OF THE ENTERPRISE

  • Tamara Makukh Institution of Higher Education «Open International University оf Human Development «Ukraine» Rivne Institute» https://orcid.org/0000-0002-7120-7231
  • Liudmyla Korobovych Academician Stepan Demyanchuk International University of Economics and Humanities https://orcid.org/0000-0002-7327-2678
  • Vira Ruban Institution of Higher Education «Open International University оf Human Development «Ukraine» Rivne Institute»
Keywords: sustainable development, ensuring sustainable development, sustainability, enterprise sustainability, enterprise sustainability factors

Abstract

The practical significance of the sustainable development of the system is expressed in the fact that the participants of the economic process receive time and opportunity to develop an effective action program. The stability of the enterprise implies such a potential that makes it possible to receive a guaranteed profit, which makes it possible to fulfill social obligations towards employees, modernize the material and technical base and adequately respond to changes in the market situation. It is proposed to consider the formation and support of key factors of the sustainability of the enterprise's functioning as one of the mechanisms for ensuring the sustainable development of the enterprise. For this purpose, the essence of sustainability and the influence of enterprise sustainability indicators on its development were investigated. Sustainable development of the enterprise as a system is possible under the condition of coordinated work of its constituent elements. In the event of unplanned changes in key indicators during the operation of the enterprise, its stability may be lost. If the process affects the majority of enterprises, it threatens with adverse consequences for the socio-economic situation in the regions and the country in general, because efficient and stable work is the most important component of sustainable economic development. In order to supplement and expand the theoretical and methodological approaches to ensuring the sustainable development of enterprises, it is proposed to investigate and clarify the essence of the concepts of "sustainable development" and "system stability". The goals of this article are an in-depth analysis of the essence of sustainability and determination of the importance of this indicator to ensure the sustainable development of the enterprise. It was established that sustainability is not only one of the criteria and tools for evaluating the efficiency of the enterprise, but also a powerful mechanism for ensuring the sustainable development of the enterprise.

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Published
2023-12-29
How to Cite
Makukh, T., Korobovych, L., & Ruban, V. (2023). SUSTAINABILITY AS A MECHANISM FOR ENSURING SUSTAINABLE DEVELOPMENT OF THE ENTERPRISE. Taurida Scientific Herald. Series: Economics, (18), 122-127. https://doi.org/10.32782/2708-0366/2023.18.13
Section
ECONOMY AND ENTERPRISE MANAGEMENT