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Sustainable Economic Development of Enterprises: A Methodology Based on the Toolkit

Author

Listed:
  • Zhanna Chupina

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

  • Alexander Chursin

    (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)

  • Ivan Kvasov

    (Faculty of the Higher School of Management, Financial University under the Government of the Russian Federation, Moscow 125993, Russia)

Abstract

At the present time, an effective methodological toolkit has not been developed to manage economic processes in modern conditions in order to ensure the sustainable economic development of enterprises. On the basis of mathematical modeling, it has been proposed that such a tool could be created to provide a quantitative assessment of the main parameters in the creation of innovative products and activities of enterprises. Additionally, on the basis of this tool, decision makers could regulate these processes by introducing additional resources and buying risks. For this purpose, it is necessary to modernize the means of production, which requires a reassessment of the technical level of enterprises. It is possible to achieve these parameters through a certain technical policy of production modernization. In this aspect, the technical policy of enterprises should consider the fact that, depending on the complexity of innovative products put for development and production, the time lag between the start of production of such products and the moment when they enter the market with competitive advantage changes. This competitive advantage is determined by the design methods at a given cost. At the same time, the service models of enterprises are used as one of the most important tools to achieve the profitability of the enterprise, leading to its sustainable economic development. As a result of the proposed toolkit, a strategy for managing the processes of the sustainable economic development of enterprises could be developed based on the creation of an intelligent system using artificial intelligence and the use of large databases that create information support for decision makers to regulate these processes. This set of tools makes it possible to achieve the organization of sustainable economic development. To assess the technical, economic, and technological level of the enterprise, a complex integral indicator was obtained on the basis of mathematical modeling. It was proposed to confirm the obtained integral assessment by comparing the obtained calculated data with an expert assessment. The method of expert evaluation is used in the article. Expert assessments were obtained in science-intensive organizations in which the authors held managerial positions and were engaged in scientific projects. The obtained inputs were formulated based on the analysis of the reporting documentation provided by the organizations. The conducted research indicates the importance of the proposed practical recommendations and materials for solving the tasks set in this study.

Suggested Citation

  • 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.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:17:p:12682-:d:1222375
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    References listed on IDEAS

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    1. Robson, Karen & Wilson, Matthew & Pitt, Leyland, 2019. "Creating new products from old ones: Consumer motivations for innovating autonomously from firms," Technovation, Elsevier, vol. 88(C).
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