FORMATION OF COMPETITIVE ADVANTAGES OF BUSINESS ENTITIES IN THE CONTEXT OF SUSTAINABLE DEVELOPMENT WITHIN THE CONTEMPORARY ECONOMIC MODEL

Анотація

Introduction. This article examines the impact of sustainable development and its individual components on the formation of competitive advantages of business entities within the context of the contemporary economic model. The relevance of the topic is determined by the current instability of the economic and political environment, the intensification of globalization challenges, and the necessity of implementing innovative technologies and digitalization in enterprise operations. A focus on sustainable development has become one of the key factors in achieving financial stability, social responsibility, and environmental balance in corporate activities.

Methods. The study was conducted using a combination of systemic, comparative, and logical analyses, along with economic modeling and synthesis of scientific approaches. The theoretical foundation of the research was based on the works of domestic and international scholars in the fields of sustainable development, innovation, digitalization, and enterprise competitiveness. In addition, practical examples of enterprises operating in contemporary conditions were considered, allowing a comprehensive assessment of both the opportunities and limitations associated with the implementation of sustainable development mechanisms.

Results. The study found that the principles of sustainable development contribute to the formation of competitive advantages through resource optimization, the adoption of new technologies, the enhancement of financial stability, and the maintenance of social and environmental responsibility. Key barriers to the implementation of sustainable development were identified, including a low level of technological equipment and digitalization, insufficient institutional support, and a lack of adaptation of sustainable development mechanisms to sector-specific requirements. It was shown that underestimating sustainable development processes reduces overall enterprise competitiveness and limits the ability to maintain market positions.

Discussion. The results of the study can be used to develop strategies for implementing sustainable development across different sectors of the economy, improve managerial decision-making, and enhance enterprise competitiveness in unstable external environments. Further research should focus on analyzing the interconnection between sustainable development and globalization processes, as well as developing practical mechanisms for integrating innovation and digitalization into sustainable development strategies.