Transformations  in
Business & Economics

ANALYSIS OF FACTORS AFFECTING SUSTAINABLE CONSUMPTION AND ITS IMPACT ON RESPONSIBLE BUSINESS MANAGEMENT
Viktor Koval, Nadiia Shmygol, Rima Tamosiuniene, Halyna Kryshtal, Pavlo Nesenenko, Inesa Mikhno

ABSTRACT: The analysis of the development of green technologies as one of the tools for solving environmental problems and the condition of the eco-friendly market has not yet been formed, while the existing applications are in low demand, but have significant potential for promotion in international and domestic markets. The study is aimed at analysing the main risk factors that have caused the change in consumer guidelines in society, creating a model of their impact on the development of further behaviour of individuals, and examining the relationship between impact indicators and environmentally responsible management. This study uses eco-friendly principles to explore the impact of factors on the emotional and psychological components of personality development, which can affect trends in the retail and services market. It analyses the current state of the psychological and dynamic characteristics of the Ukrainian population and highlights the main stages of environmentally oriented changes. It is concluded that individuals’ psychological and emotional states affect their behaviour and change their values, which, on the one hand, can become the basis for introducing eco-friendly goods and, on the other hand, can create additional barriers to market entry. The emotional component can change the speed of adoption of environmentally responsible management by 37%, which is significantly higher than the other impact indicators.

KEYWORDS:  Greentech, behavioural economy, environmentally responsible behaviour, resource-saving technologies, rational use

JEL classification:  D10, E21, Q57