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Strategic Planning for the Sustainable Development of Territories

Denys L. Tarasenko, Оlena B. Тsyklaurі, Svitlana I. Belei, Maryna O. Rіabenka and Iryna O. Mazurkevych

International Journal of Economics & Business Administration (IJEBA), 2020, vol. VIII, issue Special 1, 259-272

Abstract: Purpose: The main purpose of this article is to determine the features of the application of strategic planning to ensure sustainable development of territories. Design/Methodology/Approach: The study is based on statistics from international institutions such as the European Regional Development Fund, Eurostat, The World Bank, the Institute of Regional Development, as well as theoretical and practical developments of foreign scholars. Findings: The results of the study show that ensuring the sustainable development of territories is an important sphere for ensuring the sustainable development of countries in general. At the same time, one of the key stages of ensuring their sustainable development is the stage of long-term navigation, which determines the further guidelines and measures the need to be implemented. Practical Implications: This study raises awareness of the components of the strategic planning process, the directions of its implementation, the pace of economic development of individual territories in European countries, as well as revealing the features of sustainable development of territories on the example of one country. Originality/Value: The study emphasizes that the existing development potential of the territories at the period of studying of this issue is not fully disclosed. Programs that are implemented have a long period of their implementation, which ultimately affects the effectiveness of this process. So, it can be a kind of milestone for further strategic planning of territorial development, as the deadline for most regional development programs ends this year.

Keywords: Strategic planning; territories; strategy; GDP; employment of population; European Regional Development Fund; program of territories’ development. (search for similar items in EconPapers)
JEL-codes: A11 A14 B4 (search for similar items in EconPapers)
Date: 2020
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Handle: RePEc:ers:ijebaa:v:viii:y:2020:i:special1:p:259-272