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The Role of Business in Achieving Sustainable Development and Need of Changes in Managerial Attitude (the case of Georgia)

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  • Giuli Keshelashvili

    (Ivane Javakhishvili Tbilisi State University)

Abstract

In an era of rapid global environmental change, the role of business in fostering sustainable development has become critical. This research investigates the influence of business practices on the sustainable development trajectory of Georgia, emphasizing the urgent need for a transformation in managerial attitudes to align with sustainability objectives. The study analyzes the challenges and opportunities that Georgian businesses face in integrating sustainability into their core strategies, a crucial aspect for achieving the Sustainable Development Goals (SDGs) set by the United Nations.Georgia's approach to sustainable development has been hindered by inadequate regulatory frameworks and a lack of institutional support, which has resulted in slow adoption rates of sustainable practices among local businesses. This paper explores the cultural and economic factors influencing this adoption and discusses the potential of governmental and non-governmental interventions to accelerate the process. The research method combines analytical, synthetic, and comparative approaches to assess the impact of business and consumer behaviors on sustainable development, utilizing a mixture of quantitative data from online surveys and qualitative insights from interviews and focus groups.Key findings suggest that while there is a growing awareness of sustainability among Georgian businesses, significant gaps in implementation persist. These gaps stem from a lack of detailed knowledge about the SDGs, coupled with cultural tendencies that favor short-term gains over long-term sustainability. The study recommends a multi-faceted approach to fostering sustainable business practices, including more robust government policies, increased educational efforts, and stronger incentives for businesses adopting sustainable practices.The paper concludes that for Georgia, adopting a more integrated and proactive approach to sustainability can not only enhance its environmental and social outcomes but also provide a strategic advantage in the global economy. By redefining managerial attitudes and business practices, Georgian enterprises can lead the region in sustainable development, contributing to both their economic success and the well-being of society.

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  • Giuli Keshelashvili, 0000. "The Role of Business in Achieving Sustainable Development and Need of Changes in Managerial Attitude (the case of Georgia)," Proceedings of Economics and Finance Conferences 14316153, International Institute of Social and Economic Sciences.
    • Handle: RePEc:sek:iefpro:14316153
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    References listed on IDEAS

    as
    1. David Narmania & Giuli Keshelashvili & Eka Chokheli & Vasil Kikutadze, 2022. "Challenges of Development of Demand-oriented Labor Market in Georgia," International Journal of Social Sciences, European Research Center, vol. 11(2), pages 86-98, September.
    2. Ia Natsvlishvili & Eteri Kharaishvili & Tamar Lazariashvili, 2020. "Bio-products market in Georgia: current challenges and development perspectives," International Journal of Markets and Business Systems, Inderscience Enterprises Ltd, vol. 4(1), pages 81-98.
    3. Stefan Schaltegger & Marcus Wagner, 2011. "Sustainable entrepreneurship and sustainability innovation: categories and interactions," Business Strategy and the Environment, Wiley Blackwell, vol. 20(4), pages 222-237, May.
    4. Ans Kolk & Jonatan Pinkse, 2008. "A perspective on multinational enterprises and climate change: Learning from “an inconvenient truth”?," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 39(8), pages 1359-1378, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Managerial Attitude; Sustainable Development; Business Opportunities; Customers;
    All these keywords.

    JEL classification:

    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
    • M00 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General - - - General

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