IDEAS home Printed from https://ideas.repec.org/a/aid/journl/v4y2021i1p98-117.html
   My bibliography  Save this article

The Uncertainty Factor in the Market Economic System: The Microeconomic Aspect of Sustainable Development

Author

Listed:
  • Henryk DźwigoÅ‚

    (Silesian University of Technology, Poland)

Abstract

Opportunities for sustainable development of the business entity largely depend on the uncertainty factor, which, in particular, is expressed in the asymmetry of information. Due to the influence of this factor, forecasting the efficiency of enterprises becomes a difficult task. Every company must meet the requirements of modern reality and be open to new solutions. The purpose of this study is a microeconomic analysis of factors that affect the sustainable development of enterprises. The uncertainty condition is considered as an integral element of the modern concept of company management. Based on the analysis of the literature, personal observation and interviews with managers, the guidelines for building a modern microeconomic model of a market economy were identified, which can further become the basis for creating new organizational management models.

Suggested Citation

  • Henryk DźwigoÅ‚, 2021. "The Uncertainty Factor in the Market Economic System: The Microeconomic Aspect of Sustainable Development," Virtual Economics, The London Academy of Science and Business, vol. 4(1), pages 98-117, January.
    • Handle: RePEc:aid:journl:v:4:y:2021:i:1:p:98-117
    DOI: 10.34021/ve.2021.04.01(5)
    as

    Download full text from publisher

    File URL: https://virtual-economics.eu/index.php/VE/article/download/106/78
    Download Restriction: no
    File URL: https://libkey.io/10.34021/ve.2021.04.01(5)?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Henryk Dzwigol, 2019. "The concept of the system approach of the enterprise restructuring process," Virtual Economics, The London Academy of Science and Business, vol. 2(4), pages 46-70, October.
    2. Yurii Kyrylov & Viktoriia Hranovska & Viktoriia Boiko & Aleksy Kwilinski & Liudmyla Boiko, 2020. "International Tourism Development in the Context of Increasing Globalization Risks: On the Example of Ukraine’s Integration into the Global Tourism Industry," JRFM, MDPI, vol. 13(12), pages 1-18, December.
    3. Muhammad Imran & Waseem ul Hameed & Adnan ul Haque, 2018. "Influence of Industry 4.0 on the Production and Service Sectors in Pakistan: Evidence from Textile and Logistics Industries," Social Sciences, MDPI, vol. 7(12), pages 1-21, November.
    4. Oleksandr Melnychenko, 2019. "Application of artificial intelligence in control systems of economic activity," Virtual Economics, The London Academy of Science and Business, vol. 2(3), pages 30-40, July.
    5. Polcyn Jan, 2018. "Human development level as a modifier of education efficiency," Management, Sciendo, vol. 22(2), pages 171-186, December.
    6. Oleksandr Melnychenko, 2020. "Is Artificial Intelligence Ready to Assess an Enterprise’s Financial Security?," JRFM, MDPI, vol. 13(9), pages 1-19, August.
    Full references (including those not matched with items on IDEAS)

    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. Radosław Miśkiewicz & Krzysztof Matan & Jakub Karnowski, 2022. "The Role of Crypto Trading in the Economy, Renewable Energy Consumption and Ecological Degradation," Energies, MDPI, vol. 15(10), pages 1-15, May.
    2. Aleksy Kwilinski, 2024. "Mapping Global Research on Green Energy and Green Investment: A Comprehensive Bibliometric Study," Energies, MDPI, vol. 17(5), pages 1-24, February.
    3. Henryk Dzwigol & Aleksy Kwilinski & Oleksii Lyulyov & Tetyana Pimonenko, 2024. "Digitalization and Energy in Attaining Sustainable Development: Impact on Energy Consumption, Energy Structure, and Energy Intensity," Energies, MDPI, vol. 17(5), pages 1-17, March.
    4. Yurii Kharazishvili & Aleksy Kwilinski & Henryk Dzwigol & Viacheslav Liashenko, 2021. "Strategic European Integration Scenarios of Ukrainian and Polish Research, Education and Innovation Spaces," Virtual Economics, The London Academy of Science and Business, vol. 4(2), pages 7-40, April.
    5. Mira Maria do Rosário & Devile Eugénia Lima & Lima Susana & Moura Andreia, 2023. "What has been said about the reinvention of post-COVID tourism: A bibliometric analysis," European Journal of Tourism, Hospitality and Recreation, Sciendo, vol. 13(1), pages 67-79, December.
    6. Robert K. MacGregor & Radka MacGregor Pelikánova, 2019. "Shareholder Engagement for Corporate Governance in the Light of the Harmonization and Transposition," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(4), pages 22-34.
    7. Mihai TALMACIU & Irina Teodora MANOLESCU, 2022. "Enhancing competitiveness and resilience of tourism in crises condition. Experiences from Eastern Partnership countries," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 13(4), pages 381-399, January.
    8. Oleksandr Melnychenko, 2021. "The Energy of Finance in Refining of Medical Surge Capacity," Energies, MDPI, vol. 14(1), pages 1-14, January.
    9. Yevheniia Ziabina & Tetyana Pimonenko, 2020. "The Green Deal Policy for Renewable Energy: A Bibliometric Analysis," Virtual Economics, The London Academy of Science and Business, vol. 3(4), pages 147-168, October.
    10. Dzintra Atstāja & Edmira Cakrani, 2024. "Impact of Climate Change on International Tourism Evidence from Baltic Sea Countries," Sustainability, MDPI, vol. 16(12), pages 1-16, June.
    11. Wieslaw Urban & Krzysztof Łukaszewicz & Elżbieta Krawczyk-Dembicka, 2020. "Application of Industry 4.0 to the Product Development Process in Project-Type Production," Energies, MDPI, vol. 13(21), pages 1-20, October.
    12. Noha Mostafa & Walaa Hamdy & Hisham Alawady, 2019. "Impacts of Internet of Things on Supply Chains: A Framework for Warehousing," Social Sciences, MDPI, vol. 8(3), pages 1-10, March.
    13. Oleksandr Melnychenko, 2020. "Is Artificial Intelligence Ready to Assess an Enterprise’s Financial Security?," JRFM, MDPI, vol. 13(9), pages 1-19, August.
    14. Syed Abdul Rehman Khan & Arsalan Zahid Piprani & Zhang Yu, 2022. "Digital technology and circular economy practices: future of supply chains," Operations Management Research, Springer, vol. 15(3), pages 676-688, December.
    15. Viacheslav Liashenko & Sergey Ivanov & Nataliia Trushkina, 2021. "A Conceptual Approach to Forming a Transport and Logistics Cluster as a Component of the Region’s Innovative Infrastructure (on the Example of Prydniprovsky Economic Region of Ukraine)," Virtual Economics, The London Academy of Science and Business, vol. 4(1), pages 19-53, January.
    16. Filippo Bazzanella & Nunzio Muratore & Philipp Alexander Schlemmer & Elisabeth Happ, 2021. "How the Covid-19 Pandemic Influenced the Approach to Risk Management in Cycling Events," JRFM, MDPI, vol. 14(7), pages 1-20, June.
    17. Mubarak, Muhammad Faraz & Petraite, Monika, 2020. "Industry 4.0 technologies, digital trust and technological orientation: What matters in open innovation?," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    18. Aleksy Kwilinski & Oleksii Lyulyov & Tetyana Pimonenko, 2023. "Environmental Sustainability within Attaining Sustainable Development Goals: The Role of Digitalization and the Transport Sector," Sustainability, MDPI, vol. 15(14), pages 1-14, July.
    19. Ruslan Kostyrko & Tetiana Kosova & Lidiia Kostyrko & Liudmyla Zaitseva & Oleksandr Melnychenko, 2021. "Ukrainian Market of Electrical Energy: Reforming, Financing, Innovative Investment, Efficiency Analysis, and Audit," Energies, MDPI, vol. 14(16), pages 1-17, August.
    20. Kenyon MacGregor Robert & MacGregor Pelikánová Radka, 2019. "The nature and meaning of the Directive 2013/34/EU on financial statements according to the CJ EU," Central European Economic Journal, Sciendo, vol. 6(53), pages 246-261, January.

    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:aid:journl:v:4:y:2021:i:1:p:98-117. 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: Aleksy Kwilinski (email available below). General contact details of provider: https://edirc.repec.org/data/akwilin.html .

    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.