Theoretical preconditions for forming the components of the enterprise overall sustainability

Abstract

The current crisis situation in the global and national economies draws attention to the problems of the enterprise economic sustainability. Therefore, an important issue now is to overcome the instability of the economic systems which requires identification and justification of the theoretical preconditions for solving the problem. The article aims to study the theoretical preconditions for the enterprise sustainability and, on their basis, form the components of the enterprise overall sustainability. It has been found out that modern economics focuses on the issue of the economic systems sustainability mainly within the theory of economic welfare. However, it has only made thorough research into the issues of financial and technical aspects of the market sustainability while the enterprise sustainability is a complex concept, which requires the use of a system approach. The theory of economic welfare, the general systems theory, the theory of economic growth, information economics, the behavioral theory, the stakeholder theory and the theory of games have been proved to be the basic economic theories that are preconditions for developing the theory of the enterprise sustainability as an economic system. It was found that each of these theories considers some aspects of sustainability components. The theoretical preconditions for the enterprise sustainability being generalized, a scheme of forming the components of the enterprise economic sustainability, including the financial, production and organizational sustainability, was devised. Based on the analysis it was found out that financial sustainability can be defined as an operational indicator for the other types of sustainability, but it can be achieved only if the organizational and production sustainability is maintained. To conclude, ensuring the organizational sustainability in the medium term will allow an enterprise to increase the overall sustainability, avoid bankruptcy and survive in the times of crisis.