Development of the Sustainable Entrepreneurship Model

Abstract

The most prominent feature of today’s economy is rapid change. To succeed in such an economy, countries must be able to adapt to these changes with great agility. One of the most potent tools for achieving this end is sustainable entrepreneurship. Sustainable entrepreneurs are those who undertake entrepreneurial endeavors while taking into account different aspects of social, economic and environmental sustainability. These entrepreneurs strive to keep their resources focused on sustainable development and to balance the objectives of entrepreneurial success and sustainability so as to solve social and environmental problems. In this study, after reviewing the research literature and identifying the factors pertinent to sustainable entrepreneurship, a conceptual model was developed by drawing on the expertise of 10 experts, who were selected by snowball sampling. Interpretive Structural Modeling (ISM) approach was used to examine the network of relationships among the factors. The findings showed that the considered factors fall into four levels: sustainability culture was placed at the most fundamental level, legal requirements, resource preservation, social participation, green management and human resources management were placed at the second level, social justice, effective and efficient processes, and customer-centricity were placed at the third level, and social well-being and economic benefits were identified as the top-level factors or outputs of sustainable entrepreneurship. The proposed model depicted means, process, first order and ultimate goal in inhacing entrepreneurship sustainability endeavors.

Innovation Capability Strategy: How Does the Culinary Industry Deal with Business Sustainability Case Study on Culinary SMEs in Padang

“…From the observation results, it was obtained that many business managers were aware of the importance of innovation strategies. The most important innovation that was carried out was in the products they sell and the place of business [19]. Innovation in products is related to the content or mixture of products, and innovations are also carried out on the shape and size of the product to release new product variants [20].…”

“…The same idea was also expressed by [18] who revealed that the capability innovation strategy based on observing changes in consumer behavior was an important reference that would maintain business sustainability. Furthermore, [19] stated that innovation with a life cycle approach and paying attention to changes in consumer tastes was an important instrument that could extend the life of the business unit developed, while [2] stated that service attribute innovation was the main tool to maintain the sustainability of the SMEs business in Surabaya.…”

“…According to [19] innovation is considered a one-dimensional phenomenon including actions that can be implemented to improve the performance of SMEs. In line with the description of the theory and a number of research results, it further shows the importance of innovation strategies to maintain business sustainability and the importance of the role of institutions and the innovation capabilities of SMEs in China [20].…”