The Significance of Economic and Environmental Sustainability Management in the Operations of Russian Manufacturing Enterprises

Financial University under the Government of the Russian Federation, Department of Strategic and Innovative Development, Faculty “Higher School of Management”, 49/2 Leningradsky Avenue, Moscow, Russia

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Abstract

In contemporary circumstances, it is evident that the activities of industrial enterprises, particularly in the Russian economic system, have a substantial and detrimental impact on the environment. Consequently, it is imperative to transform the management systems of Russian manufacturing companies by integrating sustainability management mechanisms into their structures, encompassing both environmental and economic dimensions, has become increasingly pressing. This article analyzes the distinctive features and characteristics of sustainable development tools as a potential direction for transforming the management mechanisms of contemporary Russian manufacturing companies. The primary objective of this article is to analyse and synthesize the concepts related to the development and implementation of these mechanisms within the management systems of Russian manufacturing companies. The central section presents an analysis of the fundamental characteristics involved in constructing modern Russian production from the perspective of addressing the challenges of sustainable development. Definitions and concepts formulated by Russian and foreign researchers regarding the establishment of mechanisms for the sustainable development of manufacturing companies are scrutinized. The fundamental principles of sustainable development and their potential application within the management systems of Russian manufacturing companies are succinctly analysed. In conclusion, the authors present their interpretations of how management functions (planning, organization, motivation and control) can be transformed in the context of establishing economically and environmentally sustainable production.