The systemic dimension of sustainable development in developing countries

It is generally accepted that sustainable development encompasses four distinct perspectives: (a) economic, (b) ecological, (c) social, and (d) institutional, which are highly interrelated and complementary. Their interrelatedness is even more intense in the developing world where the effects of job creation, entrepreneurship, resource-use, networking, and building good governance are all systemically intertwined. This builds a logical nexus between business profits and social good whereby entrepreneurs doing business in developing countries not only can enhance their own productivity, effectiveness, and efficiency to improve their financial position, but also contribute to the wellbeing of their (host) countries. The purpose of this article is to present how a systemic outlook can enhance research and practical implementation of sustainable development in developing countries. In doing this, the article will demonstrate how the systemic approach to sustainable development can be practically applied through multi-stakeholder dialogues.