THE DIFFERENCE BETWEEN ECONOMIC DEVELOPMENT AND SUSTAINABLE DEVELOPMENT

Abstract

The article shows approaches to studying the understanding of the differences between economic development and sustainable development to enhance innovation activity and targeted development of Ukraine's innovative potential based on European experience. The publication is devoted to the peculiarities of forming sustainable development in accordance with the needs of small and medium-sized businesses. Traditionally, economic development was determined by basic indicators; a need arose to study sustainable development, both at the level of national economies and individual enterprises. There was a need for practical solutions. The article presents a comparative analysis of various definitions and approaches to their formation. It is emphasized that fundamental research can only be carried out with the support of the state and industry, which also contributes to the development of this area. It explores and demonstrates how global cooperation can contribute to a better understanding and use of the fundamental principles of sustainable development. It is sustainable development that allows us to shape ecosystems. The need to provide appropriate conditions for the development of entrepreneurial activity is emphasized. The effectiveness of management decision making is discussed and the need to use a proactive approach is determined. In modern conditions, issues of “green sustainable development” are being considered.

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Identifiers

DOI

10.20998/2519-4461.2024.4.15

Journal

Bulletin of the National Technical University "Kharkiv Polytechnic Institute" (economic sciences)

Year

2024