Digitalisation is the Key Trend in International Economics Say the Researchers

13:47, April 29, 2019

Scholars from several countries discussed sustainability principle

On April 18th, 2019 GSEM Laboratory for International and Regional Economics held a research workshop “Sustainability and Digitalisation: Stakeholder Engagement and Effects” jointly with ABIS — The Academy of Business in Society.

Researchers from several countries presented global trends of sustainability principles influencing modern business models in the context of digitalisation. Scholars from Russia, Germany, the Netherlands, Spain, Italy, and Bangladesh.

“The concept of sustainable development encompasses the principles of circular economy, smart cities and corporate social responsibility. However, the effects are felt by various different stakeholders”, — says Hans Wiesmeth, Academic Head of the Laboratory for International and Regional Economics.

President of the Academy of Business in Society, Prof. Ivo Matser raised the issue of sustainable development definitions in legislation:

“The law only addresses financial matters, not sustainability itself. For companies finances are part of sustainable development”.

Zhanna Belyaeva, Head of the Research Unit for Global Social Responsibility Excellence and IB of the Laboratory, presented a review of new approaches to measuring digitalisation effects for different stakeholders from the sustainable development perspective. There are also so-called perverse effects of implementing digital solutions which entail greater costs and imbalance in the use of resources.

“In 2015, there was a research that indicated a growing distrust in business among the population as a result of businesses becoming too innovative. If there is no understanding, there is no trust”, — says Prof. Thomas Osburg, Head of Competence Center Entrepreneurship at Fresenius Business School (Germany).

Yury Blagov, Director of the PwC Center for Corporate Social Responsibility at GSOM St. Petersburg University, who participated in the workshop online, noted the necessity of integrating social responsibility and industry 4-0 models as there is no time to postpone these decisions.

GSEM researchers Dr. Alberto Ferraris and Dr. Kazi Sohag presented their ideas on integrating responsible economy into industry 4-0 and smart cities. The colleagues from Sapienza University (Italy) Dr. Rosa Lombardi and Dr. Antoaneta Cosentino gave insights into the important issues of developing value-centred business models and inclusiveness in implementing the principles of sustainable development. Prof. Ivan Savin shared the results of a linguistic analysis of Spanish stakeholders’ associations with sustainable development. Young researchers and students had the chance to get a full picture of the Laboratory Unit’s research and were able to assess digtalisation effects on sustainable development.

Prof. Thomas Osburg also gave a lecture on Digitalisation and Sustainable Development in International Business for 3rd year student of the programme International Economics and Business and GSEM staff where he presented real companies’ cases of digital solutions implementation.