The article analyzes the current sustainable development policies of economic entities. At the present stage of development of society, economic relations between the participants of business processes as a prerogative in relations highlight the long-term cooperation, which is aimed at sustainable development. To date, the sustainability of the development of economic entities of any field of activity is given great attention. This is due primarily to changes in legislation, resource-boundness, rising prices for natural resources, requirements for the implementation of social and environmental objectives, and competitive advantages. Therefore, the introduction of the principles of sustainable development into business processes determines the need for a comprehensive assessment of the formation of the sustainable development policy of any economic entity.
The relevance of issues of sustainable development of economic entities is indisputable, since the sustainability of development affects the investment attractiveness of economic entities and their interaction with stakeholders whose demands are directed to the environmental, social, economic aspect of the economic entity. Accordingly, an economic entity with transparency in this regard will be of greater interest to potential stakeholders, which will significantly affect the financial component of any Russian business entity. A balanced and effective policy leads to the reduction of all possible risks, strengthening competitiveness, increasing the efficiency of employees and customer loyalty, improving the reputation of the business community as a whole and the long-term functioning of an economic entity.
Achieving a high level of sustainability is possible when delivering sound goals through planning, productive work with stakeholders and the implementation of successive activities in key areas of activity, namely: interaction with staff, with the business community, with society and the state as a whole.
In turn, the achievement and maintenance of long-term sustainable development of an economic entity is determined by three important directions: environmental, economic and social, provided they are combined, and not isolated. Therefore, today, the main purpose of the formation and analysis of indicators of sustainable development is the reflection of the impact of the organization on stakeholders, with whom it will be in direct or indirect economic cooperation.
The Demerger Impact upon Sustainable Development of Economic Entities: Evidence from Romania
