1. METHODS FOR ANALYZING REGIONAL ENTREPRENEURSHIP WHILE INCORPORATING SUSTAINABLE DEVELOPMENT PRINCIPLES.
- Author
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Botsiev, Igor, Magomadov, Emin, and Belotelova, Zhanna
- Subjects
- *
ENTREPRENEURSHIP , *SUSTAINABLE development - Abstract
This article explores the challenges of assessing local business activity through the lens of sustainability and innovation in success metrics. Current economic realities and environmental challenges have required the adaptation of traditional assessment methods to adequately reflect all aspects of business impact. The study begins with a critical look at outdated assessment approaches that neglect the long-term perspective and focus on immediate economic results. The paper emphasizes that such methods often ignore a wide range of factors, from the social environment to the environment. The author presents a new model of metrics that balance economic progress with environmental and social responsibility. These metrics place a particular emphasis on combining data on business impact on society and the ecosystem, allowing for a more accurate and comprehensive assessment. To implement the proposed model, attention is paid to the need to create information systems capable of collecting, analyzing, and interpreting data according to the new criteria. This will play a key role in providing regional political and economic leaders with the tools to make informed decisions. The article also illustrates how some regions are already successfully applying these metrics, demonstrating significant progress in their approaches to assessing entrepreneurial activity. These examples confirm the potential for achieving sustainability and well-being through the thoughtful application of these approaches. It concludes by highlighting that the shift to assessing entrepreneurial activity with a sustainable development perspective is not only important for the current state of regions, but also contributes to ensuring a better future. [ABSTRACT FROM AUTHOR]
- Published
- 2024