SCENARIOS FOR SUSTAINABLE SMALL BUSINESS SURVIVAL: SYSTEMIC & DYNAMIC APPROACHES
Abstract
This study delves into sustainable survival strategies for small businesses, employing a systemic and dynamic approach to navigate dynamic economic environments. The research seeks to identify scenarios that bolster the resilience and viability of small businesses, offering insights into sustainable practices amid uncertainties. The methodology integrates systemic analysis and dynamic modeling to comprehend complex interactions influencing small business survival. Qualitative methods, including case studies and in-depth interviews, capture real-world experiences, while quantitative data from surveys provide a comprehensive understanding of the dynamic small business landscape. Preliminary findings indicate that small businesses adopting a systemic sustainability approach, considering ecological, social, and economic factors, exhibit heightened adaptability and resilience. Dynamic modeling underscores the importance of flexibility in business strategies, emphasizing scenario planning and adaptive management. Sustainable practices, such as digital transformation, community engagement, and circular economy principles, emerge as significant contributors to small business survival. The study emphasizes the necessity for small businesses to embrace a systemic and dynamic perspective in navigating challenges. By integrating sustainable practices, small businesses can enhance survival prospects and contribute positively to the broader economic and social ecosystem. This research provides a foundation for policymakers, entrepreneurs, and researchers to develop effective strategies for fostering sustainable small business development and resilience.
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European Publisher
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-
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1-1
Subjects
sustainable development, ecology, economy, technologies, green technologies
Cite this article as:
Sulumov, S., & Patsagov, T. (2024). SCENARIOS FOR SUSTAINABLE SMALL BUSINESS SURVIVAL: SYSTEMIC & DYNAMIC APPROACHES. In M. R. Nakhaev, A. S. Salamova, A. Wojdilo, V. Ricardo, & V. Micale (Eds.), Proofreading - Upcoming Volume: Modern Trends in Governance and Sustainable Development of Socio-economic Systems: From Regional Development to Global Economic Growth, vol -. European Proceedings of Multidisciplinary Sciences (pp. 0-0). European Publisher. https://doi.org/10.15405/epms.2024.09.58