Sustainable Development of Corporations: Theory Evolution and Practical Implementation

This article examines the practical significance and growing relevance of the sustainable development concept (SDC). To support the hypothesis that SDC principles need to transition from being largely declarative to more practical applications, various desk-based research methods are employed. The historical method is used to trace out the emergence and evolution of the SDC, highlighting a shift from single to diversified development, short-term to long-term sustainability, and domestic to global cooperation. Logical and analytical methods further clarify the increasing global focus on economic, environmental, and social issues. The article also explores approaches to classifying the key aspects of modern sustainable development and identifies the latest trends in the field. It emphasizes the importance of integrating the SDC's economic, environmental, and social dimensions into corporate activities. Examples of successful corporate implementation are provided. However, the findings indicate that broader and more effective frameworks are necessary to move the SDC from theory to practice, enabling corporations to address global challenges more effectively.