Improving Approaches to Strategic Enterprise Management in the Context of Sustainable Development

Tatyana Khudyakova, Vladimir Zhuravlyov, Natalia Varkova, Sergei Aliukov, Svetlana Shmidt and Nicolay Zhuravlyov
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Tatyana Khudyakova: Department of Applied Economics, Higher School of Economics and Management, South Ural State University, 454080 Chelyabinsk, Russia
Vladimir Zhuravlyov: Department of Applied Economics, Higher School of Economics and Management, South Ural State University, 454080 Chelyabinsk, Russia
Natalia Varkova: Department of Applied Economics, Higher School of Economics and Management, South Ural State University, 454080 Chelyabinsk, Russia
Sergei Aliukov: Department of Applied Economics, Higher School of Economics and Management, South Ural State University, 454080 Chelyabinsk, Russia
Svetlana Shmidt: Department of Mathematics and Computer Science, Saint Petersburg State University, 199178 Saint Petersburg, Russia
Nicolay Zhuravlyov: Institute of State and International Law, Ural State Law University, 623720 Yekaterinburg, Russia

Sustainability, 2020, vol. 12, issue 20, 1-20

Abstract: This article discusses the issues of improving strategic management of sustainable development of enterprises of the Russian Federation. The management of many companies continues to demonstrate an inadequate attitude to the development and implementation of a system of measures to ensure the proper level of sustainability of an industrial company. The main problem considered in the study is the insufficiently perfect mechanism for the strategic management of the investment policy of industrial enterprises in the Ural region of Russia. The management of many enterprises does not conduct a comprehensive assessment of sustainability and does not rely on the triad of sustainable development indicators—economic, environmental, and social. This negatively affects the strategic management decisions made. Under an insufficiently perfect mechanism, in this study, we refer to the following: At Russian regional enterprises, there is no close connection between the processes of making strategic decisions and the investment policy of the enterprise. This leads to certain errors in the formation of the enterprise strategy. The connecting element of these processes is highlighted. It is a comprehensive assessment of sustainability. The main objective of this study is to improve the model and mechanism of strategic management of the investment policy of the enterprise in the context of the environmental and economic status of the business. The proposed model is based on the principles considered from the perspective of three directions—economic, social, and environmental. This model provides for a close interconnection of components: management decision-making, investment policy development, and comprehensive assessment of sustainable development strategy. Based on the analysis of scientific works, the practice of managing industrial enterprises and certain gaps have been identified in theoretical sources related to the topic, problem, and objectives of the article. The methodological base of the study is determined, and methodological aspects of the analysis of the ecological state of business projects and the formation of strategic management of investment activity of an industrial enterprise are substantiated. The model for managing sustainable enterprise development is presented. This model provides for close interaction between the mechanisms for developing strategic decisions and managing the investment policy of the enterprise based on the environmental component of the business as a factor in sustainable development. Tools are proposed that ensure interconnection and synergy between the components of strategic management of the investment policy of the company and improve the quality of management decisions.

Keywords: sustainable development; strategy; investment policy; sustainability assessment; indicators of sustainable development; industrial enterprise (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2020
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