Viability of local communities: Theoretical analysis and review of scientific research

Abstract

The study of the viability of local communities is critical both for Ukraine and for any country that strives for sustainable economic development, stability, and improving the quality of life of its citizens. It helps to prepare communities for challenges, promotes effective resource management, investment attraction, and social cohesion, which is the foundation for sustainable and harmonious community functioning and progress. The purpose of the study was to clarify the concept of the viability of a local community and identify key economic aspects to substantiate the areas of further research on the mechanism for ensuring it. In the course of the study, theoretical methods of analysis were used, in particular literature review and conceptual generalisation, to identify the resources of the viability of local communities. The definition of a viable local community as a complex socio-economic system capable of remaining functional in the long term, providing for the psychological and social needs of its members and promoting their development in conditions of limited resources, adapting to changes in the economic environment is formulated. A conceptual model is constructed that provides a general idea of the key components that affect the ability of a local community to survive and develop. The proposed model highlights the importance of integrated viability analysis, considering the relationship between different resources and conditions that contribute to the sustainable development of local communities. The results show that the combination of economic, information, financial, material, organisational, and human resources is critical to ensuring the viability of communities. The practical value of the study is to substantiate the need for an integrated approach to the management of local communities, which is aimed at the effective use of all available resources to achieve maximum effect. This will ensure coordination of efforts at all levels and will contribute to the creation of a holistic economic development strategy that involves long-term planning and consideration of the specific needs and challenges of each community, thereby achieving harmonious and balanced progress