Abstract
In the article the sustainable development as the alternative concept of further transformation of the economic system in general and an enterprise in particular is considered. The concept of the sustainable development cycle of enterprise was improved by the authors; they specified the important role of human resources management in this cycle. The paper emphasizes the need to focus the human resources management not only on the operational activities’ results, but also on increasing the employees’ personal competitiveness and intensifying collaboration and mutual support to form a corporate knowledge due to developing corporate universities and E-learning systems aimed at continuous sustainable development of human resources. A significant attention in the concept of an enterprise sustainable development is paid to creation an effective human capital management strategy. This strategy should be focused on decomposition of the objectives in sustainable development, building a favourable organizational culture, developing business models that are based on effective communication with consumers, selecting the state-of-the-art forms of business organization and doing business; this is including, but not limiting, to those that have emerged in the field of social business, which allow to move towards implementation of the main objectives of sustainable development.
Highlights
The modern economic development is inextricably linked with globalization, which covers all fields of human life, including social, political, cultural, and economic
Focusing on traditional economic indicators and applying standard management methods in a turbulent modern environment is insufficient for an enterprise development
The enterprises may require developing new management methods reflected in the sustainable development concept
Summary
The modern economic development is inextricably linked with globalization, which covers all fields of human life, including social, political, cultural, and economic. Numerous financial crises and military conflicts have complicated the geopolitical situation, and significantly affected economy of most countries in the world. In this regard, such factors as instability, unpredictability and fierce competition are characteristic features of the current economic situation. These features affect a company's relations with the external business environment, and affect an organization’s internal processes. Focusing on traditional economic indicators and applying standard management methods in a turbulent modern environment is insufficient for an enterprise development. The enterprises may require developing new management methods reflected in the sustainable development concept
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