Managerial Approaches to Sustainable Economy Development

Abstract

This article examines managerial approaches to fostering sustainable economic development through the integration of Environmental, Social, and Governance (ESG) principles within corporate strategies. The study aims to identify practical managerial models that promote long-term economic viability while addressing environmental and societal impacts. Drawing on expert analyses, institutional reports, and academic literature, the research employs a qualitative synthesis method to extract and compare various frameworks of sustainable, sustainability, and sustainable development management. The article categorizes three key managerial approaches: (1) Sustainable management, focusing on harmonizing corporate responsibility with environmental preservation; (2) Sustainability management, emphasizing long-term viability through strategic resource use and social engagement; and (3) Sustainable development management, aimed at aligning economic growth with resource efficiency and ethical governance. Findings highlight that successful ESG integration requires multi-stakeholder collaboration, internal restructuring, and the adoption of performance measurement systems. Visual frameworks such as the ESG pillars and multi-step sustainability implementation models are discussed. The paper concludes that managerial commitment to sustainability not only supports ecological preservation and social equity but also enhances corporate resilience, innovation, and stakeholder trust. The study offers valuable insights for policy-makers and business leaders seeking to embed sustainability into core business operations. UDC: 005:[338.1:502.3]; JEL: O44; Q01; Q54; Q56