The systemic economic crises of the late 20th and early 21st centuries determine the relevance of revising the previous priorities for managing industrial enterprises, identifying new opportunities for their functioning and development. Global changes in the business environment warn about the need for consistent adjustments in the production activities of Russian enterprises, the industrial ones in particular, and shift their goal-setting from optimizing the results of current activities to searching for and forming long-term strategies. The article substantiates that the concept of sustainable development, projected at the enterprise level, can become a theoretical foundation for the transformation of approaches to management. Sustainable development of an industrial enterprise is interpreted as internal changes aimed at its adaptation to the dynamics of the state of the functioning environment, qualitative changes in the structure, and growth in the quantitative performance indicators. On the basis of this concept, the basic principles of the functioning of an industrial enterprise are adapted: consistency, goal-setting, adaptability, continuity, differentiation, integrity, feedback, hierarchy, their content is disclosed. Changing business environment for industrial enterprises implies the search for new instruments for ensuring sustainable development, a balanced set of measures in which the use of resources and investments are aimed at achieving strategic goals. The result of the research is the proposed scheme of sustainable development of an industrial enterprise and the system of its investment support. The study of the principles and system elements of sustainable development of industrial enterprises shows that in the current economic realities, it is important to aim management activities at sustainable economic growth. The problem of measuring the sustainability of the development of industrial complexes and enterprises also became obvious, which creates the need for methodological developments in this area. The target results of investment support for the sustainable development of an industrial enterprise could be: a systemic increase in the competitive advantages of the products and their wider range, at least corresponding to the market demand with a focus on anticipating it, and introduction of new market trends, technological updates of the enterprise focused on reducing operating costs for production and delivery of the products to the consumer.