Published 2024-06-17
Keywords
- Entrepreneurs, Sustainability, sustainable entrepreneurship, small and medium sized enterprises.
How to Cite
Abstract
Entrepreneurship is a crucial component of every economy's progress. However, because the concept of sustainable development has emerged as a significant problem affecting the existing global economy, it has been recommended that entrepreneurship should not be oriented exclusively on earning riches. Entrepreneurs must now come up with business ideas that are centered on sustainability. Sustainable entrepreneurship has been defined as the teleological process that strives towards achieving sustainable development through the discovery, evaluation, and exploitation of opportunities and the creation of value that produces economic prosperity, social cohesion, and environmental protection. Through an analysis of 31 publications published between 2003 and 2023, this theoretical literature review aims to deepen the discussion on sustainable entrepreneurship in the small and medium sized enterprises (SMEs). Using theoretical framework, relevant theories used sustainable entrepreneurship are presented in this article. The current study makes an attempt to decipher the issues of sustainable entrepreneurs in the SMEs, as well as the prospects of sustainable entrepreneurship. Profit is required for corporate growth, and sustainability is crucial as well; finding a balance between profitability and sustainability is quite a challenge for entrepreneurs. The findings of this research can be useful for both new and experienced sustainable entrepreneurship researchers, to contribute to bringing clarity to the field by providing a complementary overview of the evolution and current status, in addition to a summary of the problems that entrepreneurs face when implementing sustainability.
Downloads
References
2. Castka, P., Balzarova, M. A., Bamber, C. J., & Sharp, J. M. (2004). How can SMEs effectively implement the CSR agenda? A UK case study perspective. Corporate Social Responsibility and Environmental Management, 11(3), 140–149. https://doi.org/10.1002/csr.62
3. Choi, D. Y., & Gray, E. R. (2008). The venture development processes of “sustainable” entrepreneurs. Management Research News, 31(8), 558–569. https://doi.org/10.1108/01409170810892127.
4. Cohen, B., & Winn, M. I. (2007). Market imperfections, opportunity and sustainable entrepreneurship. Journal of Business Venturing, 22(1), 29–49. https://doi.org/10.1016/j.jbusvent.2004.12.001
5. Cornwell, J. F. M., & Higgins, E. T. (2015). Approach and avoidance in moral psychology: Evidence for three distinct motivational levels. Personality and Individual Differences, 86, 139– 149. https://doi.org/10.1016/j.paid.2015.06.012
6. De Palma, R., & Dobes, V. (2010). An integrated approach towards sustainable entrepreneurship– Experience from the TEST project in transitional economies. Journal of Cleaner Production, 18(18), 1807–1821. https://doi.org/10.1016/j.jclepro.2010.07.025
7. Dean, T. J., & McMullen, J. S. (2007). Toward a theory of sustainable entrepreneurship: Reducing environmental degradation through entrepreneurial action. Journal of Business Venturing, 22(1), 50–76. https://doi.org/10.1016/j.jbusvent.2005.09.003
8. Di Domenico, M., Haugh, H., & Tracey, P. (2010). Social Bricolage: Theorizing Social Value Creation in Social Enterprises. Entrepreneurship Theory and Practice, 34(4), 681–703. https://doi.org/10.1111/j.1540-6520.2010.00370
9. Diandra, D., & Azmy, A. (2020). Understanding Definition of Entrepreneurship. Journal of Management Accounting and Economics, 7, 2020–2383.
10. Dorado, S. (2006). Social entrepreneurial ventures: Different values so different process of creation, no? Journal of Developmental Entrepreneurship, 11(04), 319–343. https://doi.org/10.1142/S1084946706000453
11. Fischer, D., Mauer, R., & Brettel, M. (2017). Regulatory focus theory and sustainable entrepreneurship. International Journal of Entrepreneurial Behavior & Research, 24(2), 408–428. https://doi.org/10.1108/IJEBR-12-2015-0269
12. Geels, F. W., & Kemp, R. (2007). Dynamics in socio-technical systems: Typology of change processes and contrasting case studies. Technology in Society, 29(4), 441–455. https://doi.org/10.1016/j.techsoc.2007.08.009
13. Global Entrepreneurship Monitor 2022/2023 Global Report: Adapting to a “New Normal.” (n.d.). Haldar, S. (2019). Towards a conceptual understanding of sustainability-driven entrepreneurship.
14. Hart, S. L., & Milstein, M. B. (1999). Global Sustainability and the Creative Destruction of Industries. Sloan Management Review, 41(1), 23–33.
15. Hoogendoorn, B., van der Zwan, P., & Thurik, R. (2019). Sustainable Entrepreneurship: The Role of Perceived Barriers and Risk. Journal of Business Ethics, 157(4), 1133–1154. https://doi.org/10.1007/s10551-017-3646-8
16. Hull, C. E., & Rothenberg, S. (2008). Firm performance: The interactions of corporate social performance with innovation and industry differentiation. Strategic Management Journal, 29(7), 781–789. https://doi.org/10.1002/smj.675
17. Huybrechts, B., & Nicholls, A. (2012). Social Entrepreneurship: Definitions, Drivers and Challenges. In C. K. Volkmann, K. O. Tokarski, & K. Ernst (Eds.), Social Entrepreneurship and Social Business: An Introduction and Discussion with Case Studies (pp. 31–48). Gabler Verlag. https://doi.org/10.1007/978-3-8349-7093-0_2
18. Joshi, M., Tiwari, S. P., & Joshi, V. (2007). Corporate Social Responsibility: Global Perspective, Competitiveness, Social Entrepreneurship & Innovation. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.999348
19. Lans, T., Blok, V., & Wesselink, R. (2014). Learning apart and together: Towards an integrated competence framework for sustainable entrepreneurship in higher education. Journal of Cleaner Production, 62, 37–47. https://doi.org/10.1016/j.jclepro.2013.03.036
20. Muñoz, P., & Cohen, B. (2018). Sustainable Entrepreneurship Research: Taking Stock and looking ahead. Business Strategy and the Environment, 27(3), 300–322. https://doi.org/10.1002/bse.2000
21. Muñoz, P., & Dimov, D. (2015). The call of the whole in understanding the development of sustainable ventures. Journal of Business Venturing, 30(4), 632–654. https://doi.org/10.1016/j.jbusvent.2014.07.012
22. Pinkse, J., & Groot, K. (2015). Sustainable Entrepreneurship and Corporate Political Activity: Overcoming Market Barriers in the Clean Energy Sector. Entrepreneurship Theory and Practice, 39(3), 633–654. https://doi.org/10.1111/etap.12055
23. Sarango-Lalangui, P., Santos, J. L. S., & Hormiga, E. (2018). The Development of Sustainable Entrepreneurship Research Field. Sustainability, 10(6), 2005. https://doi.org/10.3390/su10062005
24. Shepherd, D. A., & Patzelt, H. (2011). The New Field of Sustainable Entrepreneurship: Studying Entrepreneurial Action Linking “What is to be Sustained” with “What is to be Developed.” Entrepreneurship Theory and Practice, 35(1), 137–163. https://doi.org/10.1111/j.1540- 6520.2010.00426.x
25. Spiegel, S., Grant-Pillow, H., & Higgins, E. T. (2004). How regulatory fit enhances motivational strength during goal pursuit. European Journal of Social Psychology, 34(1), 39–54. https://doi.org/10.1002/ejsp.180
26. St-Jean, E., & Labelle, F. (2018). Wanting to change the world, is it too much of a good thing? How sustainable orientation shapes entrepreneurial behaviour. International Journal of Entrepreneurial Behavior & Research, 24(6), 1075–1086. https://doi.org/10.1108/IJEBR-03- 2018-0130
27. Stubbs, W. (2017). Sustainable Entrepreneurship and B Corps. Business Strategy and the Environment, 26(3), 331–344. https://doi.org/10.1002/bse.1920
28. Wu, J., Song, J., & Zeng, C. (2008). An empirical evidence of small business financing in China.