Abstract
Assuming that sustainable entrepreneurship leads to business performance, the present paper intends to investigate the standpoints of SMEs (small and medium-sized enterprises) entrepreneurs on different facets. The emphasis is laid on the entrepreneurs’ approaches towards people, planet and profit and on their prioritization within business dynamics. The aforementioned dimensions are deemed important factors engendering business performance in terms of turnover, customer attraction and retention and market share. With a view to testing the advanced hypotheses, we employed a quantitative perspective relying on a questionnaire-based survey. As the results posited, the proposed model accounts for almost 50 percent of variance in business performance, whereas sustainable entrepreneurship approaches towards the people and profit dimensions have a significant positive influence on business performance.
Highlights
Throughout the years, several frameworks for sustainability have set themselves up as milestones of both conceptual and empirical studies despite the proliferation of various standpoints
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Two out of the three proposed hypotheses were supported, confirming that sustainable entrepreneurship approaches towards people and profit dimensions result in a better business performance in the case of the Romanian SMEs which were included in the study
Summary
Throughout the years, several frameworks for sustainability have set themselves up as milestones of both conceptual and empirical studies despite the proliferation of various standpoints. Achieving holistic business performance is linked to considering all the factors of sustainable development, especially in the context of developed countries [9,11,12,13,14], and, investigating a complementary perspective would fill a research gap From this perspective, the main research question is whether there is a positive relationship between sustainable entrepreneurship and business performance in the case of Romanian SMEs. Sustainable entrepreneurship is addressed, taking into account social aspects (attention is given to stakeholders, such as community, partners, workers, etc.), environmental aspects (referring to long-term protection and negative effect reduction), and economic aspects (focus on economic growth while keeping in mind the previous two dimensions) [3,5,6,7,8,9,11,15,16,17]. The results of the research are described, underscoring the theoretical and practical implications of the findings, the research limitations and the future research directions
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