Strategic Management of Regional Ecosystems Integrating Externalities and Sustainability

This article aims to examine how sustainability-oriented strategic management can be strengthened through the integration of externalities and narrative economics within regional economic ecosystems. Methods: The study is based on an interdisciplinary analytical approach that combines strategic management theory, institutional economics, and sustainability research. A comparative review of existing strategic and performance assessment frameworks is used to identify their limitations and potential complementarities. Results: The article develops an integrated strategic framework in which externalities are treated as indicators of long-term strategic effects, while narratives are considered tools for coordination, legitimacy, and stakeholder engagement. The proposed approach expands conventional performance assessment by incorporating value-based and sustainability-related dimensions relevant to managerial decision-making. Conclusion: The findings suggest that the combined use of externalities analysis and narrative tools improves the coherence, resilience, and sustainability orientation of strategic management under conditions of uncertainty.