Abstract
Scientific research is based on the fact that the business activity of subjects is one of the key elements in achieving sustainable development goals. Considering that business activity is carried out on the basis of certain principles, the authors believe that the goals of sustainable development have an impact on the modernisation and the formation of new principles of business activity. Compliance with these principles contributes to the actualisation of the business (economic) turnover in modern reality.
The aim of the article is to substantiate the formation of new principles of business activity of subjects as the main guiding principles of its implementation and appropriate regulation in the context of sustainable development.
This study aims to prove that the following elements can be considered the new principles of management: a) ensuring the vital interests of entrepreneurs, consumers and society in information environment; b) corporate social responsibility; c) fair competition in entrepreneurship; d) corporate greening.
To achieve this goal, the authors provided the characteristics of these principles and analysed the current state of their application. To solve the problem, first, the relationship between the listed principles and the goals of sustainable development is analysed. And secondly, the analysis of the influence of each of the principles on business activity is carried out.
While conducting the scientific research, methods such as dialectical, system-structural analysis, formal-legal, comparative, as well as other methods and scientific approaches were used to achieve the goal of the study.
In the course of the study, it was substantiated that the listed principles fully fit into the concept of sustainable development, which includes economic, social and environmental components. The conclusions summarise the characteristics of each of the new principles of business activity. Also, recommendations were formulated regarding the optimisation of the regulatory consolidation and the practical implementation of these economic principles, taking into account the European and Ukrainian experience. The results of the study are important for theory and practice, since they regard the presented principles as those that can be used to assess the activities of specific business entities, as well as the state of legislation and government policy. The obtained results of the assessment can be used to develop proposals for improving the legal regulation and state policy of the economic sphere (including business and entrepreneurial activity).
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Similar content being viewed by others
References
On internal and foreign policy framework: Law of Ukraine as of July 1, 2010. https://zakon.rada.Nov.ua/laws/show/2411-17. Accessed 11 June 2020
Ukraine’s Sustainable Development Goals 2030: Decree of the President of Ukraine as of September 30, 2019. https://zakon.rada.Nov.ua/laws/show/722/2019. Accessed 11 June 2020
The Global Competitiveness Report. 2019/Klaus Schwab, World Economic Forum. https://www3.weforum.org/docs/WEFTheGlobalCompetitivenessReport20l9.pdf. Accessed 11 June 2020
Doing Business 2020. Comparing Business Regulation in 190 Economies/International Bank for Reconstruction and Development/The World Bank. https://documents.wor1dbank.org/curated/em688761571934946384/pdf/Doing-Business-2020-Comparing-Business-Regulation-in-190-Economies.pdf. Accessed 11 June 2020
Blomme, H.: Non-Financial Reporting: «... It is about staying in business». IFRS Practice. 8, 17 (2019). https://ibuhoalter.net/ru/material/799/15777. Accessed 01 June 2020
Znamenskyi, H.: Commercial Legislation of Ukraine: Evolution and Future Development. Naukova dumka, Kyiv (1996)
Elliott, J: An Introduction to Sustainable Development. Routledge, London (2006). https://books.google.com.ua/books/about/AnIntroductiontoSustainableDevelopme.html?id=gsz1Ri1ZQzMC&rediresc=y. Accessed 03 June 2020
Redklift, M.: Sustainable Development: Exploring the Contradictions. Routledge, London and New York (2002). https://doi.org/10.4324/9780203408889. Accessed 01 June 2020
Brynjolfsson, E., McAfee, E.: The Second Machine Age: Work. Progress and Prosperity in a Time of Brilliant Technologies. FUND, Kyiv (2016)
Voronkova, V., Metelenko, N., Nikitenko, V., Silina, I. Systemic analysis of the sustainable development economy as environmentally balanced and socially oriented. Humanit. Stud. 1(78), 86–97 (2019). https://doi.org/10.26661/hst-2019-1-78-07. Accessed 08 June 2020
Simokhovich, V., Danilova, E., Romanova, S.: Social responsibility of modern Belarusian business, Minsk (2012)
Hopkins, M.: Corporate Social Responsibility: An Issues Paper International Labour Office Working (May 2004) Paper No. 27. https://doi.org/10.2139/ssrn.908181. Accessed 08 June 2020
Rockfeller, Edwin S.: The antitrust religion: translated into Russian, editor-V.Novikov. Socium, Cheliabynsk (2012). 207 p.
Smyrnova, K.: Legal regulation of competition in the EU: theory and practie monograph, Phenix, Odesa (2015). 432 p.
Jacobs, M.: The Green Economy: Environment, Sustainable Development and the Politics of the Future. UBC Press, Vancouver (1993)
Kwilinski, A., Ruzhytskyi, I., Patlachuk, V., Kaminska, B.: Environmental taxes as a condition of business responsibility in the conditions of sustainable development. J. Legal Ethic. Regul. 22(2S) (2019). https://www.abacademies.org/articles/environmental-taxes-as-a-condition-of-business-responsibility-in-the-conditions-of-sustainable-development-8183.html. Accessed 08 June 2020/06/08
Chornous, Yu., Denysenko, S., Hrudnytskyi, V., Turkot, Ol., Sikorskyi, O.: Legal regulation of crypto currency turnover in Ukraine and the EU. J. Legal Ethic. Regul. 22 (2), 1–6 (2019). https://www.abacademies.org/journals/month-august-year-2019-vol-22-issue-2S-journal-jleri-past-issue.html. Accessed 08 June 2020
Nadybska, O., Fedotova, H., Shcherbyna, S., Chornous, Yu., Basysta, I.: Children’s rights ombudsman: experience of Ukraine and foreign countries. J. Legal Ethic. Regul. 23(2) (2020). https://www.abacademies.org/articles/Childrens-rights-ombudsman-experience-of-Ukraine-and-foreign-countries-1544-0044-23-2-476.pdf. Accessed 08 June 2020
Кalachenkova, K., Titova, O. Legal mode of information in commercial sector. Economic-legal paradigm of modern community development. 2, 155–161 (2016). https://studlib.org.ua/index.php/eprs/article/view/89. Accessed 10 June 2020
O’Rajli,T.: Hto znaye, yakim bude majbutnye/Per. z angl. Kuzmenko Yu. Nash format, Kyiv (2018)
Braliiev, A.: Influence of information society on sustainable development. RUDN J. 4, 15–20 (2008). https://cyberleninka.ru/article/n/vliyanie-informatsionnogo-obschestva-na-ustoychivoe-razvitie. Accessed 10 June 2020
Zvonar, V.: Social responsibility as social-economic phenomenon: theory and Ukrainian reality/Institute of Demography and Social Study named after M. Ptukha (National Academy of Sciences of Ukraine). Kyiv (2018)
Soroka, A., Mazurek-Kusiak, A.: The importance of corporate social responsibility of enterprisese in business. Oeconomia 13(2), 117–125 (2014)
La responsabilité sociétale des entreprises. https://www.ecologique-solidaire.gouv.fr/responsabilite-societale-des-entreprises. Accessed 08 June 2020
Zinchenko, A., Saprykina, M.: CSR development in Ukraine: 2010–2018. «Yuston» Publishing House, Kyiv (2017)
Tamvada, M.: Corporate social responsibility and accountability: a new theoretical foundation for regulating CSR. Int. J. Corp. Soc. Respons. 5(2) (2020). https://doi.org/10.1186/s40991-019-0045-8. Accessed 06 June 2020
On amendements to the «On accounting and financial reporting in Ukraine»: Law of Ukraine of October 5 2017. Verhovna Rada Ukrayiny. https://zakon.rada.gov.ua/laws/show/2164-19#Text. Accessed 09 June 2020
Sustainable Development Goals: Ukraine. National Report 2017/Ministry of economic Development and Trade of Ukraine. https://un.org.ua/images/SDGs_NationalReportUA_Web_1.pdf. Accessed 11 June 2020
Economic Code of Ukraine as of January 11 2003. https://zakon.rada.gov.ua/laws/show/436-15. Accessed 11 June 2020
Constitution of Ukraine as of June 28, 1996. https://zakon.rada.gov.ua/laws/show/254%D0%BA/96-%D0%B2%D1%80. Accessed 11 June 2020
European Union: Framework documents in the Treaty of Lisbon (as revised with comments). In: Kashkin, S. (ed.) INFRA-M, Moscow (2008). 698 p.
Tatham, A.F.: 1998 The Law of European Union: Textbook for students of higher educational establishments/translated from English, Abrys Kyiv, 424 p.
Skordamalja, V., Saniakhmetova, N., Melnyk. S.: EU Competition Law: textbook, Legal literature, Odesa (2004). 238 p.
EU competition policy in action. https://op.europa.eu/en/publication-detail/-/publication/b11a5d15-c5ca-11e7-9b01-01aa75ed71a1. Accessed 04 June 2020
Report of the Antimonopoly Committee of Ukraine (2019). https://amcu.gov.ua/storage/app/uploads/public/5e7/b2b/61d/5e7b2b61dcf08200345915.pdf. Accessed 10 June 2020
Greening small and medium enterprises: environmental policy implementation tools for EasternPartnership states EU (2015). https://www.oecd.org/environment/outreach/Greening-SMEs-policy-manual-rus.pdf. Accessed 07 June 2020
Ladychenko, V., Yara, O., Uliutina, O., Golovko, L.: Environmental Liability in Ukraine and the EU. Eur. J. Sustain. Dev. 8(2), 261–267. https://doi.org/10.14207/ejsd.2019.v8n2p261. Accessed 07 June 2020
Shapovalova, O.: Adaptation of economic legislation to the EU requirements for sustainable development. Top. Issues Law Theory Pract. 32, 25–40 (2016)
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2021 The Author(s), under exclusive license to Springer Nature Switzerland AG
About this paper
Cite this paper
Kalachenkova, K., Melnyk, S., Pavliuchenko, Y., Titova, O., Kvasnytska, R. (2021). Principles of Business Activity in the Context of Sustainable Development. In: Alareeni, B., Hamdan, A., Elgedawy, I. (eds) The Importance of New Technologies and Entrepreneurship in Business Development: In The Context of Economic Diversity in Developing Countries. ICBT 2020. Lecture Notes in Networks and Systems, vol 194. Springer, Cham. https://doi.org/10.1007/978-3-030-69221-6_20
Download citation
DOI: https://doi.org/10.1007/978-3-030-69221-6_20
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-69220-9
Online ISBN: 978-3-030-69221-6
eBook Packages: EngineeringEngineering (R0)