Integration of Sustainable Development Principles into Engineering Management Practices: Analysing the Impact on Companies’ Efficiency and Competitiveness

The article examines the challenges and tasks related to integrating sustainable development principles into production and technological, engineering and technical, as well as managerial and economic processes. The author analyses the impact of these principles on the implementation of engineering management (particularly paing attention to its role on sustainable development strategies) and on the efficiency and competitiveness of enterprises, production systems, as well as on the image and reputation of companies. The need of integrating sustainable development principles into business processes is justified by means of analysis of experience employed by companies to improve operational efficiency. The study also applies universal scientific research methods, such as systematic approach, analysis, synthesis, comparison and generalization. As a result, the findings of the study draws up conclusions about the necessity to differentiate the impact on efficiency from the impact on competitiveness: the achievement of competitiveness is associated with competitive advantages, meanwhile the impact on efficiency leads to the growth of competitiveness of the company by proxy. The findings of the study are valuable for enterprises involved in elaboration of a sustainable development strategy.