Historical Evolution of Sustainable Community Economic Development in Business and Economics

Abstract

Objective - Sustainable Community Economic Development (SCED) has gradually changed overtime from production philosophy to the welfare ideology of assuring a better future for a resilient community in business and economics. SCED contributesto poverty alleviation, employment generation, sustainable community design, disaster control and resilience, biodiversity protection, and much more.The objective of this study is to conduct a literature review of this concept fromthe global and Bangladeshi perspective. Methodology - Peer reviewed publications in English language were considered indexed on the Scopus and Web of Science database. The study designed 2timelines of SCED concept evolution based on the information derived from the existing peer-reviewed publications. Findings - Both timelines (global and Bangladeshi) were found interrelated on some points, especially the third phase of the global SCED connected with the first phase of Bangladesh's SCED timeline, immediately after the Liberation War. Novelty - The study concludes that SCED is an ever-changing area of research and future research would reveal more sustainable features that would increase the sustainability and resilience of the business community. Type of Paper - Review Keywords: Economic Development; Community Economic Development; Sustainable Community Economic Development (SCED); Bangladesh; NGOs; MFIs. JEL Classification: F63, O1, O50.