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Using Sustainability Engineering to Gain Universal Sustainability Efficiency

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  • Aleksandras Vytautas Rutkauskas

    () (Vilnius Gediminas Technical University, Faculty of Business Management, Sauletekio Ave. 11, SRC-605, LT-10223, Vilnius, Lithuania)

Abstract

The present article is an attempt to perceive the universal sustainability observable in an individual country or region, where the religious, political, social-demographic, economic, environmental, creative, technological and investment subsystems are revealed not only through the vitality of spiritual and material existence media, but rather through the signs of the development of these subsystems as self-assembled units through the erosion of their interaction. The problem of optimal allocation of investment resources among the separate sustainability’s subsystems was addressed by means of expert methods and techniques of portfolio methodology which will enable the achievement of the enshrined universal sustainability standards. A country-specific index composition of sustainability subsystems’ indices was chosen as the universal sustainability index for the specific country. The index in its dynamics is perceived as a random process. While projecting its state and evaluating its power, i.e. , the impact of the subsystem efficiency in a particular moment, this power is measured by the level of the index and the reliability or guarantee of an appropriate level. To solve the problem of investment resources allocation, the idea of Markowitz Random Field was invoked in order to reach the maximum power of sustainability index while applying the technical solution—the so-called “GoldSim” system. Engineering is a methodology that aspires to reveal the core attributes of complex systems and instruments in order to manage the possibility to influence these properties for the systems. Experimental expert evaluation and case study is performed on Lithuanian data.

Suggested Citation

  • Aleksandras Vytautas Rutkauskas, 2012. "Using Sustainability Engineering to Gain Universal Sustainability Efficiency," Sustainability, MDPI, Open Access Journal, vol. 4(6), pages 1-19, May.
  • Handle: RePEc:gam:jsusta:v:4:y:2012:i:6:p:1135-1153:d:18054
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    Citations

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    Cited by:

    1. Alfredas Lukasevicius & Indre Lapinskaite, 2014. "Strategy of Sustainable Development in Investment Portfolio Case," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 3-18.
    2. Aleksandras Vytautas Rutkauskas & Viktorija Stasytytė & Nijolė Maknickienė, 2014. "Government debt as the integral portfolio of assets and liabilities generated by debt," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 15(1), pages 22-40, February.

    More about this item

    Keywords

    sustainability concept; sustainability intelligence; universal sustainability; sustainability engineering;

    JEL classification:

    • Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics
    • Q0 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General
    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
    • Q5 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products

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