Elena Ratushnyak

By Elena Ratushnyak and Vladimir Shapovalov

Environmental, social, and governance aspects of developing international business are closely connected with financial performance and resources aimed at enhancing the business from within. Sustainable business metrics are both quantitative and qualitative, core and expended ones that complete traditional economic gauges. They are systemized into four themes: people, planet, prosperity, and governance, which serve as the methodical framework for accelerating appropriate performance information. Understanding these themes helps international business to improve management, translating into making arrangements for international business market adaptation and developing an internal environment. Being aware of and effectively managing sustainable aspects of business assists in minimizing potential legal and reputation-related risks for businesses, especially those with intricate value chains. Additionally, it stimulates innovation, draws top talent, strengthens customer-centric approaches, increases employee contentment, and secures the necessary permits for local market operations. Artificial intelligence, as one of the main technologies, helps to be sustainable for companies in respect to mitigation, adaptation, resilience, and fundamentals, especially in the theme of the planet. The main advantage of using this technology is the possibility to gather, compete, and process data; fortify the process of planning and enhance the quality of decision-making; optimize processes; and support collaborative ecosystems.

Part of the book: Advances in Digital Transformation [Working title]