Sustainable Value and its Role in Regional Development

Abstract

Sustainable Value approach serves as an integrated tool where economic, environmental and social resources used are evaluated. This method has been mainly applied at corporate and national level. Contribution of this work lies in unique application of Sustainable Value framework on regional level because regions are supposed to be essential for understanding and achieving sustainability. For this purpose, selected real economic, environmental and social data of fourteen regions of the Czech Republic from 2006 to 2012 was analysed and evaluated based on Sustainable Value approach. Sustainable Value approach was used to assess the sustainable performance of each region in monetary terms and the selected regions ranked according to their value-creating character. This work demonstrates practical use of this method and confirms its role in regional development planning in the modern globalized world.