Sustainability is a widely debated concept in specialized literature, being approached from the perspective of various fields. However, studies that assess in a congruent manner the managers' perception of sustainability are hard to find, because of the multiple layers of perception that managers can have upon this subject. Our paper, using a systematic literature review methodology has been able to identify five different aspects that can be used to properly organize the discussion around managers' perception regarding sustainability: Sustainability - an adequate framework for managing threats from the business environment; Sustainability and the development of sustainable leadership, Application of sustainability principles and risk management, The Sustainability framework - corporate social responsibility development, promotion of innovation and constant drive for performance, The approach to sustainability in the context of boosting the ability to learn and innovation of an organization. Taking different approaches from the point of view of managers' perception of sustainability allows us to highlight the very complex nature of this concept and also the importance that is given today in the light of the latest challenges imposed by the socio-economic environment - the post-pandemic world, military open conflict, energy crisis etc.