Sustainable Entrepreneurship: Innovating Value Through Environmental and Social Responsibility

Abstract

The objective of this paper is to provide an overview of the state-of-the art in research on Sustainable Entrepreneurship. The paper explores the literature related to Sustainable Entrepreneurship, including the terms used across multidisciplinary fields. The purpose of this paper is to review for understanding how various differentiating concepts and terminologies under the pretext of sustainable entrepreneurship contribute to similar goals i.e., Ecopreneurship, Social Entrepreneurship and Ecological Entrepreneurship, etc. The paper identifies research areas that have contributed to the development of the concept of Sustainable Entrepreneurship and contributes to current body of knowledge by providing an overview of the contemporary understanding of the concept, its attributes and associated qualities. It outlines implications for practice and how the concepts can be linked to other concepts in Sustainable Development Research. The business of sustainability requires a fundamental change in how we think about sustainability, from an approach of minimizing unwanted dependencies to a more focused approach of maximizing the value that products and services can deliver to society and the environmental ecosystems.  Businesses and products can be transformed through innovation by becoming more eco-efficient, less resource-intensive, and less wasteful. Increasing populations and finite resources make such innovations essential. The sustainable development paradigm can provide us with opportunities to innovate in a more sustainable way, thus opening up new business opportunities. Established companies and new ventures have the responsibility of developing a sustainable business environment. Investing in Sustainable Entrepreneurs is of extreme importance for the future of the planet. Social Entrepreneurs will be the business leaders of the 21st century. This paper discusses various aspects of sustainability and Sustainable Entrepreneurship.