Comparative Analysis Of Approaches To The Definitions Of Concepts Of «Sustainabilityâ» And «Sustainable Development Of The Organizationâ»

Sustainable development of companies becomes especially important in a crisis economic environment, as companies seeking not only to survive, but also to overcome the crisis with the least losses, should always be ready to resist negative changes in the economy. At first glance, the concept of «sustainable development» seems contradictory, therefore, in this article, the concepts of «development» and «sustainability of the organization» are considered separately. With the help of the expert-grade method, a comparative analysis of the definitions of sustainability, economic and financial sustainability of economic entities was carried out, and the main components inherent in these definitions were highlighted. Several definitions of sustainable development of the organization were also considered and thereupon two approaches to the understanding of the term were highlighted. One approach involves taking into account only the production and economic components of the organizational performance, and the second is based on the connection with the economic, social and environmental component.