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

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  • 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)
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    References listed on IDEAS

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