Academic journal article Advances in Management

Sustainable Development as Challenge for a Paradigm Shift

Academic journal article Advances in Management

Sustainable Development as Challenge for a Paradigm Shift

Article excerpt

Abstract

The main purpose of the research is to declare a sustainable development as a guiding vision for the present and next generations. Discussed issues are connected with shifts from the leading conventional paradigm to sustainable development paradigm. Paper deals with the design and creating approaches of national sustainable development strategies and their variety. Taking into account current economic and social situation in Latvia, the national sustainable development strategy "Latvija 2030" is analyzed. Paradigm shifts in form of developing sustainable industry, sustainable consumption and sustainable governance in practise show different side effects and are under active discussions. Other research issues are connected with consequences of social responsibility and improving living standards of society.

Keywords: Development strategy, Economic crisis, National economy, Paradigm shift, Sustainable development.

Introduction

The process of globalization in the world is being driven by following factors: trade liberalization, rapidly improving and cheaper communications, the growth and spread of multinational corporations, increasing level of foreign investments, technological innovation and increasing role of international institutions and agreements. The globalization is fuelling economic growth, creating new income generating opportunities, accelerating the knowledge and technologies. But globalization may have profound and worrying implications for developing countries such as the external political, cultural and economic shocks, the vulnerability of national economies, marginalization of knowledge, individuals and businesses11,17.

All economies are dependent on the life sustaining systems of the ecosphere. This long ignored fact came high on the political agenda only when economic implications of environmental damages became obvious or at least foreseeable. The activities toward truly sustainable development and decision-making have become a key goal of public policy around the world.

Development that is not sustainable will inevitably lead to negative economic, environmental and social repercussions. Advancing sustainable development is about safeguarding our future and improving the quality of life for the global community. The sustainable development concept emphasizes the importance of maintaining and improving the quality of life by ensuring that decisions made today take into consideration social, economic and environmental consequences. It integrates the social, economic and environmental objectives of society in order to maximize human well-being in the present without compromising the ability of future generations to meet their own needs.

In the 20th century Latvia (a state in East Europe with population about 2.1 million) had several great intentions - establishment of an independent country (1918) and its reconstruction (1991), integration into the European Union (1994) and NATO (1994), The common European currency Euro was introduced from the first of January 2014 and Latvia has been became a member country of the Eurozone.

Now these plans have been fulfilled and the time has come to decide on what kind of Latvia the next generations to live in. The states, which will strengthen and develop their identity and originality and use the resources at their disposal efficiently and innovatively, will acquire relative advantage for the development. Importance of being as member state of NATO and EU stays very crucial after worsening political situation in the East Europe region after aggressive Russian policy at the beginning of 2014. This is a challenge and development opportunity for Latvia and a long-term challenge.

Methods

The main objective of the research task is to declare the preconditions for paradigm shifts and to give comprehensive analysis of designed national sustainable development strategies and to discuss these issues on the basis of sustainable development strategy worked out in Latvia. …

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