Managerial implications for the sustainability of energy policies

Abstract

In the 21st century, society is characterised by innovation, complexity and numerous challenges with multiple implications for citizens' lives. Political, economic, financial, environmental and social issues are constantly influencing the development trend of society. The most recent global events have demonstrated the weaknesses of contemporary societal arrangements, one of which is the dependence of economies on non-renewable energy sources. Today, in many economies, oil is the main energy resource and the reason for cooperation between certain countries, but also the reason for disputes between players in the international system. In this context, two interrelated concepts emerge - energy security and the managerial implications for decision-makers. These two concepts, which we have at our disposal at all times, are designed to achieve an integrated energy market, managing the resources at our disposal efficiently. Accordingly, the main purpose of our paper is to analyze two of the most important mechanisms we have at our disposal to ensure security and the climate for sustainable development. According to our results, policy makers have a major role to play in developing sustainable and quality energy policies. Despite the fact that policy makers often faced challenges in choosing the most appropriate and effective energy policy for their countries, they faced multiple challenges related to the energy sector and highlighted the importance of ensuring energy security.