Encyclopedia of Sustainable Management

Living Edition
| Editors: Samuel Idowu, René Schmidpeter, Nicholas Capaldi, Liangrong Zu, Mara Del Baldo, Rute Abreu

Economic Sustainability

  • Eila JeronenEmail author
Living reference work entry
DOI: https://doi.org/10.1007/978-3-030-02006-4_197-1
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Synonyms

Definition/Description

The definitions of economic sustainability are various depending on the approach and sustainability label used. In the inside approach, economic sustainability is interpreted either from the perspectives of very weak or weak sustainability. The former stresses how organizations stay in business looking at the issues of corporate turnover and brand reputation and considering these to be at the heart of economic sustainability (Doane and MacGillivray 2001). The latter links the concept with productive efficiency and economic growth (Foladori 2005). Within a business context, this means using the assorted assets of the company efficiently to allow it to continue functioning profitability over time (BusinessDictionary 2018). Economic growth may take place at the expense of natural resources, ecosystem services, or welfare if the total capital stock is maintaining through time (Turner 1993).

In the outside approach,...

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Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  1. 1.Faculty of EducationUniversity of OuluOuluFinland
  2. 2.Faculty of Educational SciencesUniversity of HelsinkiHelsinkiFinland
  3. 3.Faculty of EducationUniversity of LaplandRovaniemiFinland

Section editors and affiliations

  • Mirja Mikkilä
    • 1
  1. 1.School of Energy SystemsLappeenranta University of TechnologyLappeenrantaFinland