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The problem of the developed countries is the aging of the population. Developing countries, for the time being, do not experience it so urgently yet due to the lower average age of the population, but their standard of living is also beginning to improve. In 2000, the percentage of older individuals aged 65+ years reached 12.4%. In 2030, this number should rise to 19% and in 2050 to 22% (Transgenerational, 2009). In Europe this population group aged 65+ represent 18% of the 503 million Europeans, which should almost double by 2060 (Patterson, 2006). This trend of aging population causes additional problems such as increased costs on the treatment and care of those elderly people (Maresova et al., 2015a; 2015b). Therefore, there is ongoing effort to extend the active life of this group of people in order to allow them to stay economically and socially independent. And current technological devices and services can assist them in this process.

The challenging work environment of the 21st century has resulted in a great deal of global, societal and organizational change (Fry, 2003). We are experiencing a global crisis of confidence that has spread among many people and organizations (Parameshwar, 2005). Corporate fraud (Schroth & Elliot, 2002), negativity stemming from the downsizing of companies, anxieties resulting from emerging technologies (Giacalone & Jurkiewicz, 2003), and the financial crisis have affected the way employers see their organizations and leaders. Congruent with that reality, organizations have started to give more importance to positivity and developing strong characteristics of employees, rather than focusing on negativity and weaknesses (Avey, Luthans, & Jensen, 2009). Similarly, academics and organizational behaviour experts started to focus on positivity and positive sides of organizational life. This change in mentality brought about the need for a more holistic leadership style that can integrate minds and souls of people: namely, spiritual leadership.

There is convincing evidence to suggest that understanding the fundamental needs of human beings is essential if we are to develop strategies to transition society towards more sustainable forms of development (Hall, 2006). Besides, human needs satisfaction is likely to “make fewer demands on our environmental resources, but much greater demands on our moral resources” (Brown, 1982). As such, it is a moral obligation for governments, societies, industries, and individuals, to help fulfill human needs by enhancing health, safety, economy, and society, while preserving the environmental assets such as biodiversity and natural resources; i.e. to realize sustainable development.

Project Portfolio Management (PPM) deals with the coordination and control of multiple projects that pursue the same strategic goals and compete for the same resources, whereby managers prioritize among projects to achieve strategic benefits. PPM deals with simultaneously managing multiple projects and includes defining values, specifying priorities, solving conflicts between projects as well as defining organizational structure and the rules of its functions (Spradlin & Kutoloski, 1999). To provide maximum value to the organization, the portfolio must contain a balance of project types and risk levels as well as limit the number of projects to ensure that all projects can be resourced effectively (Killen, Hunt, & Kleinschmidt, 2008). According to numerous studies, project portfolio management is currently applied in the practice of nearly all modern enterprises (Miguel, 2006).

The economic science has for centuriesanchored its endeavor to understand decisionmakingpatterns of people in explicit or implicitassumptions of utility maximization. And yet,for most of that time the utility remained anempty box, devoid of any content. The termutility was a scholarly short-hand for whateverpeople want to achieve and remained vague fora reason: in recognition of the subjective natureof what human preference it was designedto accommodate just about anything, and itwas after all considered none of economists’business to speculate about its precise content.