Towards Sustainable Strategic Management: A Theoretical Review of the Evolution of Management Perception

Katarzyna Szymczyk

Research in World Economy, 2019, vol. 10, issue 4, 58-64

Abstract: The article discusses issues related to the evolution of the concept of strategic management towards sustainable strategic management. In the literature, the idea of strategic management refers basically to the functioning of the organization and its activity in the economy. Currently, there is also an emphasis put on integrating environmental issues into the organization¡¯s activities and taking care of the interests of the society, so the strategic management should combine economic aspects with ecological and social care in mind of future generations. A change of an approach from strategic management to sustainable strategic management assumes implementation of management strategies that will protect natural resources, reduce the harmful activity of enterprises on the environment and take care of current and future populations. Just as the business environment and the perception of environmental interests change, so the strategic management itself does, as a concept itself and as a guideline for the business¡¯ functioning. Organizations following the idea of sustainable development, based on environmentally and socially friendly strategies, and aware of the consequences of their actions, here and now, are considered more productive and attractive, as well as stronger and more competitive. The evolution of general assumptions and approaches of strategic management changing within years towards the concept of sustainable strategic management enriched with the crucial environmental issues are discussed in this paper.

Keywords: strategic management; sustainability; sustainable business; management (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:jfr:rwe111:v:10:y:2019:i:4:p:58-64

DOI: 10.5430/rwe.v10n4p58

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