IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v15y2023i12p9747-d1174117.html
   My bibliography  Save this article

The Creation of Fundamentally New Products as a Factor of Organizations’ Sustainable Economic Development

Author

Listed:
  • Alexander Chursin

    (Higher School of Industrial Policy and Entrepreneurship, Peoples’ Friendship University of Russia (RUDN University), 6 Miklukho-Maklaya Street, Moscow 117198, Russia)

  • Zhanna Chupina

    (Higher School of Industrial Policy and Entrepreneurship, Peoples’ Friendship University of Russia (RUDN University), 6 Miklukho-Maklaya Street, Moscow 117198, Russia)

  • Anna Ostrovskaya

    (Higher School of Industrial Policy and Entrepreneurship, Peoples’ Friendship University of Russia (RUDN University), 6 Miklukho-Maklaya Street, Moscow 117198, Russia)

  • Andrew Boginsky

    (Higher School of Industrial Policy and Entrepreneurship, Peoples’ Friendship University of Russia (RUDN University), 6 Miklukho-Maklaya Street, Moscow 117198, Russia)

Abstract

This study analyzed the sustainable economic development of some organizations for the period of 2020–2022. The authors found that organizations’ sustainable development is influenced by technological superiority based on the creation and production of radical new products that can form new markets or be dominant in existing ones. This study examined effective management based on the application of digital technology and artificial intelligence for the creation and production of radically new products, which creates conditions for the advanced sustainable economic development of the organization. The main drivers of these processes are technological platforms, the formation of which requires significant amounts of different types of resources. To solve the issue of investment in the creation of radically new products in conditions of limited resources, the authors researched and developed tools for the effective use of investment in the creation of radically new products in order to ensure the formation of organizations of advanced, sustainable economic development. In the development of methodological tools for managing the creation and development of radically new products, a conceptual mathematical model for assessing the criteria of economic efficiency of projects is proposed. Thus, the proposed tools for managing the creation of radically new products and advanced sustainable economic development of organizations form the basis for technological superiority and sustainable economic development in modern economic conditions.

Suggested Citation

  • Alexander Chursin & Zhanna Chupina & Anna Ostrovskaya & Andrew Boginsky, 2023. "The Creation of Fundamentally New Products as a Factor of Organizations’ Sustainable Economic Development," Sustainability, MDPI, vol. 15(12), pages 1-15, June.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:12:p:9747-:d:1174117
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/15/12/9747/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/15/12/9747/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Pullinger, Martin, 2014. "Working time reduction policy in a sustainable economy: Criteria and options for its design," Ecological Economics, Elsevier, vol. 103(C), pages 11-19.
    2. Wang, Jun & Ghosh, Sudeshna & Olayinka, Olohunlana Aminat & Doğan, Buhari & Shah, Muhammad Ibrahim & Zhong, Kaiyang, 2022. "Achieving energy security amidst the world uncertainty in newly industrialized economies: The role of technological advancement," Energy, Elsevier, vol. 261(PB).
    3. Kim, Ju-Hee & Kim, Kyung-Hag & Yoo, Seung-Hoon, 2022. "Evaluating and ranking the mining damage prevention programs in South Korea: An application of the fuzzy set theory," Resources Policy, Elsevier, vol. 78(C).
    4. Thomas Dyllick & Kai Hockerts, 2002. "Beyond the business case for corporate sustainability," Business Strategy and the Environment, Wiley Blackwell, vol. 11(2), pages 130-141, March.
    5. Kamal, Muhammad Mustafa & Mamat, Rosnida & Mangla, Sachin Kumar & Kumar, Patanjal & Despoudi, Stella & Dora, Manoj & Tjahjono, Benny, 2022. "Immediate return in circular economy: Business to consumer product return information sharing framework to support sustainable manufacturing in small and medium enterprises," Journal of Business Research, Elsevier, vol. 151(C), pages 379-396.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Zhanna Chupina & Alexander Chursin & Andrew Boginsky & Ivan Kvasov, 2023. "Sustainable Economic Development of Enterprises: A Methodology Based on the Toolkit," Sustainability, MDPI, vol. 15(17), pages 1-15, August.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Maria Björklund & Helena Forslund, 2019. "Challenges Addressed by Swedish Third-Party Logistics Providers Conducting Sustainable Logistics Business Cases," Sustainability, MDPI, vol. 11(9), pages 1-15, May.
    2. Merriam Haffar & Cory Searcy, 2018. "Target‐setting for ecological resilience: Are companies setting environmental sustainability targets in line with planetary thresholds?," Business Strategy and the Environment, Wiley Blackwell, vol. 27(7), pages 1079-1092, November.
    3. Pishchulov, Grigory & Trautrims, Alexander & Chesney, Thomas & Gold, Stefan & Schwab, Leila, 2019. "The Voting Analytic Hierarchy Process revisited: A revised method with application to sustainable supplier selection," International Journal of Production Economics, Elsevier, vol. 211(C), pages 166-179.
    4. Simone Carmine & Valentina De Marchi, 2023. "Reviewing Paradox Theory in Corporate Sustainability Toward a Systems Perspective," Journal of Business Ethics, Springer, vol. 184(1), pages 139-158, April.
    5. Bert Scholtens & Feng‐Ching Kang, 2013. "Corporate Social Responsibility and Earnings Management: Evidence from Asian Economies," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 20(2), pages 95-112, March.
    6. Fabien Martinez, 2014. "Corporate strategy and the environment: towards a four-dimensional compatibility model for fostering green management decisions," Post-Print hal-02887618, HAL.
    7. Castro, Damaris & Bleys, Brent, 2023. "Do people think they have enough? A subjective income sufficiency assessment," Ecological Economics, Elsevier, vol. 205(C).
    8. Veronica Devenin & Constanza Bianchi, 2018. "Soccer fields? What for? Effectiveness of corporate social responsibility initiatives in the mining industry," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 25(5), pages 866-879, September.
    9. Qiu, Lei & Wang, Xiaoyang & Wei, Jia, 2023. "Energy security and energy management: The role of extreme natural events," Innovation and Green Development, Elsevier, vol. 2(2).
    10. Nurisyal Muhamad & Sofiah Md Auzair & Amizawati Mohd Amir & Md Daud Ismail, 2016. "Measuring Sustainability Performance Measurement System," EuroEconomica, Danubius University of Galati, issue 3(12), pages 182-199, JUNE.
    11. Frank Fogarty & Amy Villamagna & Allen Whitley & Kelly Pippins, 2013. "The Capacity to Endure: Following Nature’s Lead," Sustainability, MDPI, vol. 5(6), pages 1-15, June.
    12. Caetani, Alberto Pavlick & Ferreira, Luciano & Borenstein, Denis, 2016. "Development of an integrated decision-making method for an oil refinery restructuring in Brazil," Energy, Elsevier, vol. 111(C), pages 197-210.
    13. Justyna Patalas-Maliszewska & Hanna Łosyk, 2020. "An Approach to Assessing Sustainability in the Development of a Manufacturing Company," Sustainability, MDPI, vol. 12(21), pages 1-18, October.
    14. Yanfang Zhang & Mushang Lee, 2019. "A Hybrid Model for Addressing the Relationship between Financial Performance and Sustainable Development," Sustainability, MDPI, vol. 11(10), pages 1-15, May.
    15. Galbreath, Jeremy, 2017. "Drivers Of Environmental Sustainability In Wine Firms: The Role And Effect Of Women In Leadership," Working Papers 253851, American Association of Wine Economists.
    16. Yong Liu & Bing-ting Quan & Jiao Li & Jeffrey Yi-Lin Forrest, 2018. "A Supply Chain Coordination Mechanism with Cost Sharing of Corporate Social Responsibility," Sustainability, MDPI, vol. 10(4), pages 1-25, April.
    17. María Luisa Pajuelo Moreno & Teresa Duarte-Atoche, 2019. "Relationship between Sustainable Disclosure and Performance—An Extension of Ullmann’s Model," Sustainability, MDPI, vol. 11(16), pages 1-33, August.
    18. Sahar E-Vahdati & Nor Azila Mohd Noor & Pei Yew Mah & Francis Chuah & Filzah Md Isa, 2023. "Social and Environmental Sustainability, Workers’ Well-Being, and Affective Organizational Commitment in Palm Oil Industries," Sustainability, MDPI, vol. 15(12), pages 1-16, June.
    19. Anike Sult & Janice Wobst & Rainer Lueg, 2024. "The role of training in implementing corporate sustainability: A systematic literature review," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(1), pages 1-30, January.
    20. Katarzyna Piwowar‐Sulej, 2021. "Core functions of Sustainable Human Resource Management. A hybrid literature review with the use of H‐Classics methodology," Sustainable Development, John Wiley & Sons, Ltd., vol. 29(4), pages 671-693, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:15:y:2023:i:12:p:9747-:d:1174117. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.