Assessing Entrepreneurial Performance of G7 Countries Under Context of Social Sustainable Development Goals: A Multicriteria Decision Analysis Approach

Abstract

Entrepreneurship is a multilevel concept that connects social, environmental, and economic aspects of sustainability for societal developments, entrepreneurial processes, and market transformations. Social sustainability covers various social aspects and concerns that modern societies should achieve to improve their social infrastructures. Entrepreneurship is one of the main pivots that can strongly affect achieving social sustainability goals. Therefore, considering the current efforts of countries to reach their optimum level of social sustainability and strategic decision-making for long-term goals requires evaluating the current entrepreneurial performance in the first step. In this article, we aim to develop a multicriteria evaluation model using Shannon's entropy and measurement of alternatives and ranking according to the compromise solution to evaluate countries with the most influential entrepreneurial activities which contribute to socially sustainable development goals. As a case study, member countries of the Group of Seven (G7) are selected to assess their entrepreneurial performance using seven key indicators. These indicators are employees by business size, enterprises by business size, starting a business, women inventors, running a business, self-employed with employees, and young self-employed and are chosen for the analysis. The results show that Italy and the United States of America have been the pioneers in utilizing entrepreneurial activities to improve their social sustainability.