Principles of sustainable development perception

Abstract

Issues of economic development became very urgent in the 20th century with the increase of world production, when the contradictions between the growth of materialistic wealth and the worsening decline of natural resources and environmental pollution became clear. The used economic growth models had limitations in applying the sustainable development approach. Traditional models of development are often unable to challenge the needs of complex and changing world. The interaction among the various factors of sustainability and management theories are analysed. The necessity for evaluation of impact of cultural and ethical factors in sustainable development and for further investigation of sustainable development concept are stressed.