Strategy for Sustainability Management in Small and Medium-Sized Businesses

Abstract:

The article raises one of the nowadays problems of modern management associated with the formation of the strategy for sustainability management in small and medium-sized businesses. The purpose of the research is to substantiate the scientific and methodological basis for determining the prerequisites, principles and key sections of the strategy for managing firm's sustainability to increase the company's value. The prioritization in favor of strategic planning is justified by the problems of generations’ continuity, the conflict of interests between the company and its stakeholders in the process of increment and distribution of profits. The recommendations are based on scientific research in this field, analytical reports of influential international companies and small and medium-sized businesses. The authors ' own point of view working out sustainable business development and capital formation strategy is based on the principles of strategic planning. The company should outline the methods of planning in the time interval, reveal the company's values and ways to multiply them, consider the interests, spheres of influence and forms of interaction among stakeholders.

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