Analysis of Issues of Strategic Management of Small Businesses for the Purposes of Sustainable Development
Year: 2024
Type: article
Abstract: The article provides a detailed analysis of the challenges and opportunities associated with the strategic management of small businesses in the context of sustainable development. It examines how modern global trends, such as globalization, digitalization, and the ongoing war in Ukraine, create complex and often uncertain conditions for small enterprises, requiring innovative and adaptive management approaches. One of the central aspects of the article is the integration of sustainable development principles into the framework of strategic management. The authors analyze the application of the Triple Bottom Line (TBL) concept, which advocates a balanced approach that considers economic, environmental, and social factors. Additionally, the Balanced Scorecard model is explored as a tool for evaluating performance through both financial and non-financial metrics, ensuring a holistic approach to achieving organizational goals. The article emphasizes the specific challenges faced by small businesses compared to large corporations. Despite these difficulties, the article highlights the potential of small businesses to leverage their flexibility and adaptability to implement innovative solutions.
Institution: Odesа Polytechnic National University
Language: English
Subfield: Management of Technology and Innovation
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4405745657