Sustainable Development Decision-Making Model for Small and Medium Enterprises
Keywords:environmental management accounting (EMA), sustainability management accounting (SMA), composite sustainable development index (ICSD )
Growing importance of small and medium enterprises (SMEs) and their influence on economic development of the countries demand special attention given to processes, tendencies, perspectives in them and encourage the search for the effective SME performance improvement measures.
To pursue high environmental performance, economic and social effectiveness of SMEs is a key goal of the sustainable development concept.
Taking into consideration the importance of SMEs, their dynamics, ability to innovate rapidly, also problematic issues and the need to improve competitiveness, it can be noted that to improve their environmental performance, economic and social effectiveness, the integrated, based on financial analysis, decision-making model is needed which would be oriented to strategic sustainability goals, not requiring significant time, financial and human resources, The integration of sustainability management accounting (SMA) and composite sustainable development index (ICSD) methodologies makes the basis of sustainable development decision-making model for SMEs.
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