Benefits Of Sustainable Entrepreneurship

2449 Words5 Pages
bulb-icon

Recommended: Effects of population growth on the environment

Sustainable Entrepreneurship, Opportunities and Challenges

Sandhya Choudhary
Deptt. Of Management Studies, SRM University, India sandych31@gmail.com, +91-9013202142
Abstract
The last decade has made it clearly visible we cannot afford economic development on the expense of environmental and society. Our Society is currently galloping natural resources at such a fast rate for their own needs that is compromising on the needs and ability of future generations. Our continuously growing population needs clean drinking water, lots of energy, nutrition and want protection from the cascading results of climate change. Sustainable Entrepreneurship is one of the response to these challenges. Sustainable Entrepreneurs use to search for technologies …show more content…

Sustainable development has been defined as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs”. In 1987, the term ‘sustainability’ was expanded to ‘sustainable development’ at the World Commission on Environment and Development (WCED) of the United Nations which is also known as the Brundtland Commission. According to it, sustainable development is the process which keep in concern the needs of current and future generations. In this process the allocation of capital investments, misuse or exploitation of natural resources, technological development and organizational change are in consonance with each other. The stated definition of WCED specify the conflux of three pillars of sustainable development– economic, environmental and social sustainability. The aim of sustainable development is to use renewable resources as much as possible and to reduce or recycle non-renewable resources in order to prevent environmental degradation (Hall et al.,2010; Shepherd & Patzel,2010). Elkington (1997) proposes a framework known as triple-bottom-line (TBL) to encapsulate the fusion of sustainable development into business activities. Elkington emphasizes that the triple-bottom-line of sustainability focus on economic development, environmental problem and social

Show More
Related

  • Analysis: Burt's Bees

    1501 Words  | 4 Pages

    With forward movement in society, it is important to consider not just what will propel most toward success, but also what will help to sustain the environment along the way. What may have been considered appropriate decades ago, may no longer be socially acceptable due to the changes observed in both the business world and the environment (Fiske, 2010). Therefore, it is important for organizations thriving in today?s economy to consider how they may capitalize most effectively from their product or service of choice while minimizing or eliminating any damages along the way (Knoke, 2012).

    Read More

  • Radiologist Career Research Paper

    547 Words  | 2 Pages

    Entrepreneurship has always been an increasingly task but never an impossible one, especially if you have ethical values and the right attitude.

    Read More

  • Sustainability Essay

    803 Words  | 2 Pages

    Generational conflicts, political strife, environmental regulations, stakeholders in big oil, and many more hurdles affect the push to fully sustainable economies around the world and even here in America. In a world where coal, oil, and natural gas are limited, countries are gobbling it all up as fast as they can before other poorer countries come on the grid. Even though America and other countries gobble up these resources the life of the people is still a struggle to meet basic needs. Sustainability is an intermingling of resource use and protection of the “quality of life”, it is met by using resources sparingly and by recycling or reducing the use of other non-renewable resources to provide for our immediate need, but also to conserve and protect the needs of the next generation and to improve the quality of all the lives to come.

    Read More

  • Benefits of Sustainable Business Practices

    1812 Words  | 4 Pages

    Sustainability could be defined in many ways. It could be defined as the process to sustain a process or develop new technologies to reduce environment pollution. It also means a measurement how badly the environment is being polluted by other factors. I have to admit that sustainability is a great idea related to many fields such as healthy, economy, food, social, and etc. However, I still remember the first day of “Sustainable Business” class, Professor Laverty showed to my class an example of sustainable product with the idea of “produce more with less waste”. This example narrows me down to one idea of “Sustainable Business”, which is producing the product and services in an efficient and sustainable way without causing harms to environment. In this essay, I want to emphasize into impacts of businesses on environments, profitability of sustainable business, and responsibility of business.

    Read More

  • Entrepreneurship for Social Change

    1301 Words  | 3 Pages

    Entrepreneurship for social change: Is the U.S. doing enough to encourage and support sustainable social innovation?

    Read More

  • The Concepts of Sustainability

    2727 Words  | 6 Pages

    Sustainability is a concept with a diverse array of meanings and definitions – a widely used glamorous, ambiguous, ambivalent and vague concept that is used by different stakeholder groups in various ways. Presumably to avoid noodling over a terminology or to avoid the confrontation with a definition, most widely the concept is broken down a planning process (c.f. e.g. Döring & Muraca, 2010). That is why most common sustainability is understood as sustainable development.1

    Read More

  • Entrepreneur Vs Eco Entrepreneur

    752 Words  | 2 Pages

    Entrepreneurs are an organisations who have an ability to take risk and their minds are full of creation with innovative for starting a business (Reddy and Feston 2012, 124). There is a newly entrepreneurs who has obtained the pioneer spirits which merge with awareness for environmentalism and growing their business towards a community of ecological (Reddy and Feston 2012, 124). They are considered as eco-entrepreneurs. Eco-entrepreneurship is a newly entrepreneurial way in the globe (Reddy and Feston 2012, 125). It can also be defined as green entrepreneurship, environmental entrepreneurship, ecologic entrepreneurship or others (Reddy and Feston 2012, 125). Eco-entrepreneurship can be recognized into four major types of entrepreneurs which

    Read More

  • Key Factors to a Successful Business

    1896 Words  | 4 Pages

    It can be concluded that entrepreneurship cannot exist in the absence of innovation. Innovative entrepreneurship is the key to a successful business leading to economic development. Entrepreneurs are very prominent figures of society and therefore their actions and decisions have a significant impact on the welfare of stakeholder groups. Sustainability plays a vital role in this relationship in that it provides a solid foundation upon which a business can expand with more temerity and assuredness.

    Read More

  • Challenges of Developing a Sustainable Future

    1283 Words  | 3 Pages

    “Sustainable Development: At its heart, sustainable development is the simple idea of ensuring a good quality of life for everyone, now and for generations to come. It is about living within the carrying capacity of the environment so that how we live, work and enjoy leisure activities, which do not harm or put undue pressures on the environment. It is about ensuring everyone has the opportunity to have a decent education, a quality environment that they take pride in, good health and a decent job (n.p, 2014)”

    Read More

  • Reflection Paper On Sustainability

    833 Words  | 2 Pages

    Sustainability simply defined to me as balancing act between the development of sustainability is necessary for both planet Earth and humans to survive. This is reinforced in the World Commission on Environment and Development report (1987) that sustainable development must meet the needs of the present without compromising the well-being of future generations”. The Earth Charter Organization widened the idea of sustainability to respect for a culture of peace, universal human rights, nature, and economic justice (What is sustainability?, n.d.).

    Read More

  • The Entrepreneurship Life Cycle

    1177 Words  | 3 Pages

    Entrepreneurship is the process by which an entrepreneur ventures into a newly created business by focusing on its early stages and its general development process with the aim of making a change, for value, profit or the betterment of society and life. As is typical to the constant changing in the high technology sector, the entrepreneurship lifecycle and the progress undertaken by an entrepreneur is exemplified by Gehrich (2012) This is further expanded on by Andries and Debackere (2007), who outlined the process of initiating the business idea at the start-up, following which what happens during the development process and subsequently the final stage which mark the end of the entrepreneurship life cycle. Apple is a prime example of an entrepreneurial

    Read More

  • my dream city

    2030 Words  | 5 Pages

    ‘Development that meets the needs of the present with the ability for the future generation to meet their own needs.’ (World Commission on Environment and Development, 1987) Sustainable development requires three key components: economy, society and environment, sustainable development can be success through striking balance in those factors. These three components are indispensible, they compel to depend on each other. On the other words, we can only gain a decent and energetic environment and society if the economy is strong with a healthy a stable growth rate.

    Read More

  • What Are The Importance Of Entrepreneurship?

    1844 Words  | 4 Pages

    Entrepreneurship is an important aspect of social, economic and community life. It can be viewed as a critical factor to economic growth as well as a way of addressing unemployment (Nolan, 2003).Entrepreneurs are people who are persistently focused on identifying opportunities, they seek to create something worthwhile while taking into account foreseeable risk and rewards associated with the efforts (Nolan, 2003). Furthermore, entrepreneurs are frequently understood to be individuals who discover market needs and establish new business to meet those identified opportunities. The following assignment will firstly discuss the types of entrepreneurship, secondly it will discuss the reasons people become entrepreneurs, and thirdly it will discuss the importance of entrepreneurship.

    Read More

  • Sustainable Development and its Importance

    1575 Words  | 4 Pages

    Sustainable development means that the present generations should be able to make use of resources to live better lives in such a manner that it doesn’t compromise the ability of future generations to survive and make better lives for themselves as well. For sustainable development to occur, there needs to be sustainable economic, ecological and community development. Society needs to be educated about ways in which they can use resources, especially natural, in such a manner that it doesn’t cause harm to the environment and put future generations lives at risk.

    Read More

  • The Importance Of Sustainable Development

    1181 Words  | 3 Pages

    First of all, it is important to begin by elaborating on the definition of sustainable development. The most recognized definition that has been widely used is proposed at the Brundtland Commission; it is defined as “development that meets the needs of the present without compromising the ability of future generations to meet their own needs” (United Nations, WCED 1987). It requires for humans to establish a position to live in harmony with the rest of the planet while being aware of its limitation and capacity. Further, Mohan Munasinghe divided the development into three aspects that contributes to approach sustainable development more precisely; economic, ecological and socio-cultural aspects (cited in Rogers, Jalal and Boyd 2008). This multiple dimensions of development make it difficult to achieve sustainable development that will be discussed further below.

    Read More

More about Benefits Of Sustainable Entrepreneurship

Open Document