Technological Modernization of Energy Companies as Basis for their Sustainable Development

Authors

  • Halyna Fyliuk Taras Shevchenko National University of Kyiv
  • Mariya Kuznetsova Taras Shevchenko National University of Kyiv

Abstract

The paper deals with the issue of sustainable development and innovative efficient performance of energy sector companies in Ukraine. In scope of the Forth Industrial Revolution and modern state of international business environment the direction of global development is inextricably linked to resource management as well as energy efficiency based on innovative approaches and technological advances. By means of extensive secondary data analysis, a comprehensive overview of current peculiarities of energy sector in Ukraine is given in order to point out major daunting tasks and define future challenges. Following the outcomes of conducted research and empirical studies, using systemic analytical approach, a broad range of the required measures to be taken are proposed. Complex strategy launch for technological modernization and innovative resource management is foreseen as a key driving force for business diversification possibilities with green practices, energy portfolio extension, establishment of full-cycle energy infrastructure and, as a result,  sustainable business development. Energy management is also highlighted as a platform for mutually beneficial multi-stakeholder dialogue, the long-lasting and result-oriented one with high social inclusiveness and consciousness.Keywords: technological modernization, sustainable development, sustainability, energy efficiency, innovative resource management.JEL Classification: Q49

Downloads

Download data is not yet available.

Author Biographies

Halyna Fyliuk, Taras Shevchenko National University of Kyiv

Doctor of Economics, professor,Head of department of Business Economics

Mariya Kuznetsova, Taras Shevchenko National University of Kyiv

Postgraduate StudentDepartment of Business Economics

Downloads

Published

2018-05-08

How to Cite

Fyliuk, H., & Kuznetsova, M. (2018). Technological Modernization of Energy Companies as Basis for their Sustainable Development. International Journal of Energy Economics and Policy, 8(3), 160–167. Retrieved from https://econjournals.com/index.php/ijeep/article/view/6294

Issue

Vol. 8 No. 3 (2018)

Section

Articles

License

Submission of an article implies that the work described has not been published previously , that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication.