The paper "The Role of Eco and Social Entrepreneurship in Sustainable Development" is a great example of management coursework. The world faces many social, economic and environmental problems today. At the same time, great concern has been raised over the unsustainable production and consumption patterns that have resulted in negative social and environmental impacts. Yet, the reality of more people living under the poverty line seems to be rising which calls for economic growth and development. Sustainable development has been identified as the best conduit of bringing the much-needed solution to these problems.
Entrepreneurship has been seen as a channel for sustainable processes and products. Entrepreneurship has also been considered a solution for many social and environmental problems. In most times, individuals who are concerned with societal and environmental issues are potential initiators or supporters of businesses that advocate for sustainable development. Terms associated with entrepreneurship and sustainability include; sustainable development, ecopreneurship, green entrepreneurship, environmental entrepreneurship, social entrepreneurship and sustainability entrepreneurship. Sustainable entrepreneurship involves sustainable development in organizations as well as in society. Sustainable development, Eco entrepreneurship and Social Entrepreneurship Sustainable development alludes to development whose economic outcome can last over a long time or development that is environmentally sound.
It implies reducing poverty in a way that does not adversely affect the environment. Sustainable development is linked to societal issues as well as environmental issues. To come up with sustainable development, the strategies should focus on sustainability, the environment and society. Sustainable development entails the use of renewable sources and careful use of non-renewable energy in a way that their viability is extended to future generations. The concept of sustainability is a social issue since it influences societal level concerns. Brouard and Larivet define social enterprises as “ organizations that pursue social missions or purposes that operate to create community benefit regardless of ownership or legal structures and in varying degrees of financial self-sufficiency, invasion and social transformation. ” Haugh describes social entrepreneurship as “ the simultaneous pursuit of economic, social and environmental goals by enterprising ventures. ” Social entrepreneurship responds to individual and societal needs.
Eco entrepreneurship, also known as ecopreneurship or environmental entrepreneurship focuses on doing business while positively addressing environmental issues. Green entrepreneurship and ecopreneurship focus on organizations seeking cost efficiencies and economic profit through the innovation of green products.
Environmental entrepreneurship puts attention on economic opportunities resulting in natural environment market failures. It involves the creation of green products geared towards impacting the environment. The Role of Eco and Social Entrepreneurship in Sustainable Development Peterson mentions the seven forces that are identified as responsible for changing the world. They include governance, conflict, globalization, information flows, technological innovation and diffusion, environmental degradation, resource management and population. According to Kury analysing the sustainability issue as an environmental issue is in line with the forces identified by Peterson.
If sustainability is viewed as a social issue, then social entrepreneurship has a role to play in sustainable developments and the natural environment. In the Rio+20 United Nations Conference on Sustainable Development held in 2012 conceptualised sustainable development in three fronts; environmental, economic and social. Economic sustainability entails augmenting natural, human, social and physical capital to achieve lasting economic growth. The environmental aspect of sustainability involves using natural resources in a way that they can serve future generations. Additionally, this involves embracing sustainable production and consumptions patterns.
The social front of sustainability focuses on human equity and security. According to the European Commission issues like; accountable governance, accessible human rights and freedoms, social inclusion, education attainment, health, labour conditions, poverty rates and income distribution; are some indicators of social sustainability. Thus, sustainable development should factor in the economic, social and environmental dimensions. As such, social and eco entrepreneurship are examples of sustainable development.
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Brouard, Francois and Larivet Sophie. “Essay of clarifications and definitions of related concepts of social enterprise, social entrepreneur and social entrepreneurship”, in Fayolle, A. and Matley, H (ed) (2010), Handbook of research on social entrepreneurship, Chelternham, UK: Edward Elgar Publishing Limited, 29-56.
European Commission. “A Framework for Indicators of the Economic and Social Dimensions of Sustainable Agriculture and Rural Development.” Brussels, Belgium: European Commission, 2001
Hall, Jeremy K., Gregory A. Daneke, and Michael J. Lenox. "Sustainable Development and Entrepreneurship: Past Contributions and Future Directions". Journal of Business Venturing 25, no. 5 (2010): 439-448.
Haugh, Helen. "New strategies for a sustainable society: the growing contribution of social entrepreneurship." Business Ethics Quarterly 17, no. 4 (2007): 743-749
Haugh, Helen. “A research agenda for social entrepreneurship.” Social Enterprise Journal 1, no. 1 (2005): 1-12.
Konda, Iva, Jasmina Starc, and Barbara Rodica. "Social challenges are opportunities for sustainable development: tracing impacts of social entrepreneurship through innovations and value creation." Economic Themes 53, no. 2 (2015): 215-233
Kury, Kenneth Wm. "Sustainability Meets Social Entrepreneurship: A Path to Social Change through Institutional Entrepreneurship." International Journal of Business Insights & Transformation 4, (2012 Special Issue 2012): 64-71
Peterson, Erik R. "Seven Revolutions: Global Strategic Trends out to the Year 2025".Multinational Business Review 12, no. 2 (2004): 111-120.
Seelos, Christian and Mair, Johanna. “Sustainable development: how social entrepreneurs make it happen. IESE Business School Working Paper Series, 611: 1-14. Barcelona, Spain.
Sima, Elena. "Sustainable rural development through rural entrepreneurship." Agricultural Management / Lucrari Stiintifice Seria I, Management Agricol 17, no. 1 (2015): 89-94
UN Environment Program (UNEP). “Integrating the Three Dimensions of Sustainable Development.” UNEP Post 2015 Note No. 1. Nairobi, Kenya: UNEP, 2013
Warnecke, Tonia. "“Greening” Gender Equity: Microfinance and the Sustainable Development Agenda." Journal of Economic Issues (M.E. Sharpe Inc.) 49, no. 2 (2015): 553-562
"Wasteconcern.Org". Wasteconcern.Org. Last modified 2016. Accessed May 6, 2016. http://www.wasteconcern.org/about.html