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Sayı: 71 - Temmuz / Ağustos 2021



Marmara University Faculty of Business Administration Prof. Dr. Sabri Burak Arzova discussed the concept of economic sustainability.

Economic growth can simply be expressed as the expansion of a country's production capacity of goods and services. This is called Gross Domestic Product (GDP). With the definition known by everyone, Gross Domestic Product (GDP) is expressed as the monetary value of final goods and services created as a result of economic activities carried out within the borders of a country in a certain period (usually one year). The growth rate of real GDP (GDP adjusted for inflation) on a monthly, quarterly or annual basis, around a certain growth rate, without deviating much from that growth rate is expressed as sustainable (stable) growth. When the Sustainable Growth is mentioned, it is understood that short-term effects such as a rapid increase or a sudden stop are absent or very little.
Sustainable development, on the other hand, means benefits that do not diminish over the years for each individual. The approach of the concept of sustainable development to the use of natural resources also includes issues such as efficient use of energy, giving more space to renewable energy sources and recycling. Especially when recycling is mentioned, it is aimed to prevent unnecessary and excessive use of scarce resources, and to reduce the amount of waste garbage by separating the resulting waste at the source. 
In production areas such as iron, steel, copper, lead, paper, plastic and rubber, the recycling and reuse of raw materials, intermediate products and products is encouraged all over the world in order to prevent the depletion of natural resources. Most investments are made in these areas. Not decreasing the benefit for everyone, instead, sustainability of the benefit over the years can be achieved through institutionalization.
This institutionalization should not be considered only on the basis of companies. Being sustainable in the public sector, the continuation of the tradition that has been going on for years in the practices and decisions of the institutions, brings the power of the institutions.
One of the most important elements of sustainable growth is innovation. The competitiveness of companies operating in the country's economy in foreign markets and the increase in productivity also lead to an increase in the welfare of the country in which they operate. Increase in welfare and economic growth cause social demands and needs to differ in parallel with them. As a result, social change develops together with economic change, and it rises to the level of developed countries. Expecting all these changes to happen in just one semester or a year is a goal that goes no further than imagination. All these changes take years to happen. Therefore, the concept of sustainability is the key to this development and transformation.
Çelik Yapılar - Sayı: 71 - Temmuz / Ağustos 2021



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