Sustainable Entrepreneurship Development Research Articles

Entrepreneurship For Sustainable Development in Nigeria

The study observes that entrepreneurship in Nigeria is constrained by the challenges inherent in the business environment, thereby impacting negatively on the sustainable development of the country. These challenges range from limited access to capital or credit and inadequate or epileptic power (electricity) supply among others to adequately run businesses. Entrepreneurship as it were is the greatest potential to contribute significantly to the sustainable development of any nation, and most especially Nigeria. It is the contention of this study on the one hand that entrepreneurs themselves should operate within the legitimate business environment that is guided by rules and regulations, while the government on the other hand, should provide a conducive business environment through appropriate policies and regulations for businesses to thrive. By this, we believe entrepreneurship will be a catalyst for the sustainable development of the country.

Creativity, Innovation and Entrepreneurship for Sustainable Development

Education is considered the key to effective development strategies. Entrepreneurship is the master key that can unlock the potential of Youths through acquisition of appropriate skills relevant to the world of work and for the development of the individual in particular and national economy in general. No effective development will be achieved under the production of graduates that have no relevant skills that will get them engaged on job for profitability to themselves and the larger society. It is against this back drop that this paper examines the roles of Vocational and Technical Education in Nigeria characteristics of Nigeria Economy, Entrepreneurship and Development of small, and medium enterprises. The paper also outlines what new class of entrepreneurship can do, identify and discussed challenges faced by entrepreneurs in developing countries as well as suggestions and recommendations that will enhance a new class of entrepreneurs who will appreciate the crucial role of knowledge and innovation in the economy.

Fintech advancements in the digital economy: Leveraging social media and personal computing for sustainable entrepreneurship

Sustainable entrepreneurship refers to the practice of creating and managing a business venture in a manner that is environmentally and socially responsible while still maintaining financial profitability. Social media has become essential for entrepreneurs to build and promote their businesses. It allows them to connect with potential customers, build brand awareness, and reach a wider audience. In recent years, there has been increasing interest in exploring the relationship between sustainable entrepreneurship and social media and how social media can impact sustainable entrepreneurship development. This paper aims to analyze social media's impact on sustainable entrepreneurship development. The study uses data collected from Scopus to identify keywords related to social media, entrepreneurship, and sustainability. Coupling analysis identifies the most frequent keyword groups and clusters and measures their centrality, impact, and color. The results show that social media and entrepreneurship are strongly linked and that social media can positively impact sustainable entrepreneurship development. The study also highlights the importance of ecosystem thinking in promoting sustainable entrepreneurship and the potential of machine learning and sentiment analysis in studying the impact of social media on entrepreneurship. The findings of this study can be useful for policymakers, entrepreneurs, and researchers interested in promoting sustainable entrepreneurship through social media.

EFFECTIVE DEVELOPMENT OF INDUSTRY THROUGH USE OF NEW TOOLS AND MECHANISMS

The development of the industry stimulates the functioning of environmental projects related to agriculture, renewable energy sources, and environmentally friendly industry. Improving the system of “green” lending in banks contributes to the development of the private sector on new terms, which implies maximum preservation of natural resources and receiving more profit than from traditional projects. When issuing loans for the development of sustainable entrepreneurship, the banking sector seeks to support clients in the transition to sustainable solutions, since the conservation of resources and the creation of energy-saving technologies determine the future capabilities of the state. Green loans are an effective and significant tool for the development of sustainable entrepreneurship in the industry. And the conditions and procedure for issuing them are the mechanism through which the industry develops. Green loans can also be issued for projects of large clients in support of the industry, which meets the requirements of the SEB system. By choosing a green loan to finance a project, the enterprise becomes part of a sustainable management system. The most relevant areas for obtaining "green" loans are: renewable energy (solar, wind, tidal energy, bioenergy; energy efficiency - in relation to district heating or cooling; clean transport - non-fossil fuels or hybrid transport solutions; waste management - energy from waste and methane capture projects, as well as projects to reduce waste through process improvement; emission reduction - reduction of emissions of particulate matter, heavy metals and dioxins through physical, chemical, mechanical means; sustainable forestry - forestry projects with a forest management certificate or equivalent scheme certification; water and wastewater treatment – drinking water production, wastewater treatment, water resources management.

ПРОЦЕСС СОЗДАНИЯ УСТОЙЧИВОГО БИЗНЕСА НА ОСНОВЕ ИННОВАЦИОННОГО МОДЕЛИРОВАНИЯ

The article substantiates the algorithm for creating a sustainable business in the modern economy. The analysis of indicators of the development of sustainable entrepreneurship in Russia is carried out, which demonstrates that it is at the junction of economic, social and environmental problems and is defined as the process of forming and using business opportunities arising from market fluctuations. The scientific novelty and practical significance of the work lies in the development and comparison of two business creation processes: traditional and sustainable. An approach to creating a sustainable business based on innovative modeling has been developed, which helps to build a transition from an idea to the creation of an innovative sustainable business by identifying and using business opportunities.

ACHIEVING SUSTAINABLE ENTREPRENEURSHIP DEVELOPMENT THROUGH INNOVATION STRATEGY IN THE FOOD AND BEVERAGE INDUSTRY

This research examined the effects of innovation strategy on sustainable entrepreneurship development of food and beverage firms in Ibadan metropolis, Oyo state, Nigeria. The predictors identified to capture innovation strategy are uality service delivery, branding and technological innovations. The Survey research design was employed. All the registered food and beverage firms in Ibadan metropolis according to NGdirectory, 2020 were considered while the staff of the four (4) firms was purposively selected as respondents for this study because of their large branch network. The study utilized a questionnaire as the instrument of data collection. The collected data were coded and analyzed using regression analysis with the aid of SPSS version 25. The findings revealed that branding innovation is a significant predictor of entrepreneurship development and was statistically significant. Quality service delivery and technological innovations are non-predictors, and not statistically significant to a sustained entrepreneurship development of food and beverage firms in Ibadan metropolis within the period with coefficient and probability value of (β1= 0.181, p>0.05, β2= - 0.259, p<0.05, and β3= - 0.069, p>0.05) at 5% significance level respectively. This study recommended that firms should realize the importance of innovation strategy in their daily operations and improve their existing innovative practices for a sustained entrepreneurship performance.

Creating a sustainable ripple in rural entrepreneurship – the case of Deserttulip in resource-constrained rural Jordan

PurposeThis article aims to explore whether and how rural entrepreneurs (REs) navigate the challenges they face to support rural development, with a particular focus on sustainable entrepreneurial development in Jordan.Design/methodology/approachDrawing on structuration theory (Giddens, 1984), the article is underpinned by the position-practice perspective and its four interrelated elements: praxis, positioning, capabilities and trust. A qualitative methodology is applied to explore the case study of Deserttulip in Jordan and its utilisation of the innovative agricultural Groasis Waterboxx-Technology (GroasisWBT).FindingsFindings indicate that the position-practice of rural entrepreneurs becomes contextualised between enablers and constraints that shape entrepreneurs' praxis, positioning, capabilities and trust. Pervasive constraints are evidenced by limiting external structures and resources. Yet, these are challenged by enablers observed through the agentic roles of REs and the utilisation of innovative tools in ways that minimise the limitations of constrained contexts.Practical implicationsThe article has practical implications within countries with extreme constraints – including environmental (drought), financial and institutional constraints – where collective sustainable initiatives, alongside the utilisation of innovative tools, are called for in order to minimise the impact of limited resources and institutional support whilst promoting empowerment, cohesion and sustainable entrepreneurial development.Originality/valueThe article highlights the specificity of constrained entrepreneurship in ways that allow re-interpreting position-practice of rural entrepreneurs around collective social systems rather than individual entrepreneurs. A sustainable ripple is conceptualised, whereby expanding sustainable entrepreneurial development initiatives are observed around collective acts that stress the accountability and mutual dispositions of rural entrepreneurs towards developing and sustaining their contexts.

TRANSFORMATION OF ORGANISATIONAL CULTURE IN THE CONTEXT OF BUSINESS DIGITALISATION

Purpose of the article. The research is aimed at analysing the concept of organisational culture transformation and providing practical recommendations for the development and implementation of an effective model of organisational culture transformation that will encourage team members to perform at their best, ensuring customer satisfaction. Methodology. A system of general and unique methods of scientific knowledge was used in writing the current research. The method of content analysis was used in the literature review and its analytical research. The methods of scientific knowledge – induction, grouping and comparison for the formation of methodological connections were used to justify the choice of the research topic and to formulate its purpose. The method of generalisation was used to establish that in modern conditions the approaches to the organisational culture of business enterprises require immediate transformation, taking into account the conditions of digitalisation. The method of system analysis is used to determine strategic priorities for the transformation of organizational culture in the conditions of digitalization. The application of the method of modelling allowed to develop a model of transformation of the organizational culture in conditions of digitalization to promote the development of business enterprises and to influence the beginning of conditions of digitalization. The comparative legal method was used to identify the challenges to be considered when implementing the model of organisational culture transformation in business enterprises. Research conclusion. Strategic priorities for the transformation of organisational culture in the conditions of digitalisation are proposed. The reasons for transforming organisational culture in the context of digitalisation are highlighted. Challenges that can be considered when implementing the transformation model are predicted. The system of organisational culture transformation in the conditions of business digitalisation is developed. The model of transformation of organizational culture in conditions of digitalization is developed in order to promote the development of business strategies aimed at sustainable development of entrepreneurship and to influence the onset of conditions of digitisation in business.

Enhancing student competencies through entrepreneurship and cultural collaboration: A community engagement approach

Entrepreneurship plays a crucial role in the global economy, Driving job creation, fostering innovation, and contributing to economic growth. However, Indonesia faces challenges in increasing the number of entrepreneurs and enhancing economic productivity. This article presents a case study on the Faculty of Economics and Business at Syiah Kuala University's community engagement activities aimed at developing students' entrepreneurial and cross-cultural competencies. The activities encompass experiential learning, mentorship, networking, and cultural collaboration, aligning with achieving Sustainable Development Goals (SDGs). Through experiential learning, students gain practical knowledge, problem-solving skills, and a global mindset, equipping them for entrepreneurship and business. Collaborative initiatives with international partners, such as Universiti Kebangsaan Malaysia, and interactions with Indonesian diaspora entrepreneurs in Singapore enhance students' cross-cultural competence. They learn to respect diversity, adapt to different cultural norms, and collaborate effectively across cultures. The activities also facilitate networking and collaboration, enabling students to establish connections with diaspora entrepreneurs and international peers. These connections can lead to future partnerships and collaborative efforts. The community engagement activities empower students with the skills, knowledge, and global perspective necessary to excel as entrepreneurs and positively impact the achievement of SDGs. The emphasis on economically viable, culturally sensitive, environmentally sustainable, and socially responsible entrepreneurship aligns with the broader goals of sustainable development, contributing to the development of sustainable entrepreneurship in higher education.

Impact of Personality Traits on Sustainable Entrepreneurship Development

The evolving landscape of globalization is bringing about inevitable changes in the development of sustainable entrepreneurship. Sustainable entrepreneurship combines entrepreneurial traits with a focus on both market success and social impact. However, in today's competitive environment, it is imperative for every entrepreneur to possess specific personality traits to enhance their competitiveness. The primary objective of this research was to investigate the influence of four significant personality traits: agreeableness, openness, extraversion, and neuroticism, on the sustainable development of entrepreneurship in small and medium-sized enterprises (SMEs). The study employed a positivist research philosophy, an explanatory research design, and a quantitative survey method using a convenience sampling technique. A total of 396 entrepreneurs from the registered SMEs in the Surkhet district were identified as samples. Inferential statistics, specifically structural equation modeling, were used to analyze the data. The study revealed that personality traits such as agreeableness, openness, and extraversion had a positive influence on the development of sustainable entrepreneurship. This suggests that individuals possessing interpersonal skills, innovativeness, curiosity, situational sociability, confidence, and passion played a foundational role in promoting entrepreneurial sustainability. On the other hand, the personality trait of neuroticism demonstrated an insignificant positive impact on sustainable entrepreneurial development. This implies that neurotic individuals, prone to anxiety, stress, and emotional instability, may hinder decision-making processes and disrupt the stability of sustainable entrepreneurship. Based on these findings, the study suggests that entrepreneurs should prioritize instrumental features of personality traits like agreeableness, openness, and extraversion for sustainable entrepreneurship development, while minimizing the influence of neuroticism.

Students’ Social Initiatives as A Prerequisite for Sustainable Development of Social Entrepreneurship: A Case Study in Bulgaria

Students’ Social Initiatives as A Prerequisite for Sustainable Development of Social Entrepreneurship: A Case Study in Bulgaria

Entrepreneurship for sustainable development: co-evolutionary evidence from the tourism sector

PurposeThis paper aims to enhance understanding of how sustainable entrepreneurship (SE) contributes to sustainable development in the tourism sector. To do so, specific factors that act as enablers or inhibitors of SE are identified according to a co-evolutionary lens.Design/methodology/approachA co-evolutionary explanation of the firm? Environment relationship is adopted to undertake a qualitative empirical study of the Castelli Romani tourism destination (Italy), via 23 semi-structured interviews according to a narrative approach.FindingsThe paper demonstrates that entrepreneurs play a crucial role in sustainable development but cannot act in isolation. In fact, according to the co-evolutionary approach, they influence and are influenced by 20 factors. Accordingly, SE can be conceptualised as resulting from effective co-evolutionary interactions between micro (i.e. entrepreneurs and their firm), meso (i.e. the destination where tourism firms are based) and macro (i.e. the wider socio-economic and natural system) levels.Practical implicationsSeveral actions are suggested to entrepreneurs and policymakers to help achieve specific sustainable development goals. These actions focus on: (1) training courses, (2) investments in technologies, (3) creation of innovative business models, (4) exploitation of cultural and natural resources, (5) community involvement and (6) multi-level partnerships.Originality/valueThis is the first study that adopts a co-evolutionary lens to investigate the influencing factors of SE in tourism, shedding light on the effects of their dynamic interdependence. Thus, it provides a more nuanced SE conceptualisation that takes a holistic and dynamic view of sustainability.

Sustainable entrepreneurship: analysis of digital marketing trends in the regional and global dimension

The aim of the article is to assess the prospects of digital marketing in the context of sustainable entrepreneurship on the Internet based on the best practices of the European Union and the United States and to analyze digital marketing trends in regional and global dimensions. The paper analyzes digital marketing trends in the regional and global dimensions, as well as examines their impact on the development of sustainable entrepreneurship. This study used methods of data collection, analysis, and interpretation of results. Statistical data from the official websites of international information platforms were summarized and used. Search engines revealed more than 90 articles on the development and features of modern digital marketing. During the selection and verification process, only 25 of the most relevant sources from 2017 to 2023 were selected. The results identify the features of digitalization and its role in the development of the economy and business on a regional and international scale; analyze the main emphases in the factors of digital marketing; indicate the possibilities of the impact of digitalization and digital marketing on the sustainable development of business structures; study the trends of digital marketing in 2023 and give their further development forecast. The scientific novelty of the article lies in the fact that for the first time, the peculiarities of using digital marketing in the context of sustainable entrepreneurship on the Internet are analyzed based on the best practices of the European Union and the United States, and further prospects for its development in Ukraine are determined. The author concludes that digital technologies for testing and promoting a product market significantly reduce the time for the commercialization of innovations and indicate an acceleration of the innovation cycle in general. Digital innovations dictate the need to accelerate operational and management processes and become the basis of economic policy in many digital ecosystems. The results obtained can be used by top management of companies, as well as heads of marketing departments, to guide and develop digital marketing strategies.

Role of EDPs in Harnessing Local Resources—with Special Reference to Hyderabad and Rangareddy Districts

This study focuses on the programmes conducted for entrepreneurial development towards sustainability and value creation from the locally available resources, which in turn contribute to the performance of SMEs. Various programmes, such as employment generation activities and entrepreneurial development efforts, are conducted by the government and NGOs to uplift the economic status of individuals. The key opportunities and solutions for harnessing natural resources under sustainable entrepreneurship development programmes conducted by institutions based in Hyderabad and Rangareddy districts have been discussed. Secondary data collected has been adequately presented with the help of tables and graphs as and where applicable.

Risks and threats to sustainable entrepreneurship development in ensuring food security

The article provides a research analysis of the risks and threats that arise during the formation of sustainable entrepreneurship in the context of ensuring food security. Achieving sustainability in this field is complex, as numerous factors can negatively impact sustainable development goals. Some of the most common risks include climate change, resource scarcity, price instability of raw materials, biological threats, and political conflicts. Understanding these risks and threats enables entrepreneurs to develop strategies and make informed decisions to reduce their impact on entrepreneurial activities. The research methods employed in the article include literature review, analysis of the gathered material, induction and deduction, identification of cause-and-effect relationships, systematization, and concretization. Ensuring sustainable development of entrepreneurship in the context of food security requires attention to the risks and threats that can affect this domain. Climate change, fluctuations in food prices, limited resources, technological lag in agriculture, and geopolitical conflicts are key factors that demand attention and resolution. Overcoming these risks and threats necessitates sustainable development, innovation, and support for entrepreneurship in agriculture. It is crucial to invest in research and the implementation of advanced technologies, ensure access to resources, maintain price stability, and foster international cooperation. Resolving geopolitical conflicts and creating a peaceful environment for entrepreneurship are integral components of ensuring sustainable entrepreneurship in the context of food security. The practical value of the article lies in providing entrepreneurs, government bodies, researchers, and other stakeholders with important information and insights into potential risks and threats related to food security. The article offers valuable information that can assist in making informed decisions regarding food security measures. This can involve the development of support programs, investment strategies, and other initiatives to promote sustainable entrepreneurship in this field. Keywords: sustainable development, entrepreneurship, food security, innovation, investments.

Analysis of the Role of Global Information Management in Advanced Decision Support Systems (DSS) for Sustainable Development

Timely intelligent decision support systems (DSS) are increasingly important for the sustainable development of entrepreneurship. Global information management plays an important role in accurate DSS. Judgments can be made more quickly, accurately, and objectively thanks to the availability of large data and sophisticated artificial intelligence in the realm of quantitative smart decisions. In this context, this research analyzes the contribution of global information management for sustainable business development through DSS. This paper used the Scopus database to collect relevant research papers related to the research topic. This research helps researchers analyze the recent trend and development in the field of DSS in the context of global information management.

Evolution of approaches to socially responsible management of enterprises in the context of sustainable development

Methods. The results were obtained by applying the following methods: structural and logical – in identifying the relationship between the categories of «social entrepreneurship», «social responsibility of business» and «sustainable development»; method of general and specific – in studying «social entrepreneurship» and «social enterprise»; specific historical – in studying the evolution of social entrepreneurship in the American and Ukrainian conditions; generalisation and comparison – to establish differences between social enterprises. Results. The article examines the nature of the evolution of approaches to socially responsible management of enterprises in the context of sustainable development of society. It is established that these include the distribution of a fixed part of the profit (net) for social purposes, employment of representatives of vulnerable categories of the population, and solving a social or environmental problem directly with the product. Novelty. The study systematises approaches to the definition of socially responsible business, offers an explanation of the key parameters of social entrepreneurship in terms of the relationship between the business model of a commercial organisation and social value, and describes the criteria of social entrepreneurship, taking into account the combinatorics of their implementation. Practical value. Since social entrepreneurship involves the sale of goods or services by a commercial or non-profit organisation with the aim of creating social value, its practical implementation contributes to the implementation of the tasks set out in national and international legislation on sustainable development. The article explains the relationship between sustainable development of society and social entrepreneurship. The proposed typology of enterprises allows owners and top management to determine how significant the need to create social value will be in the organisation's activities.

Research on the Development Strategy of Campus E-commerce Entrepreneurship

The rapid development of the Internet has promoted the reform and innovation of China's industrial model, and also provided new ways and new methods for college students to start businesses and obtain employment. As a new entrepreneurial platform under the background of the Internet, e-commerce entrepreneurship has built a bridge between college students and the entrepreneurial market and brought convenience to college students entrepreneurs. Based on this, taking campus e-commerce entrepreneurship as the research object, through the quantitative analysis of its development status S (advantages), W (disadvantages), O (opportunities) and T (threats), the SWOT quantitative model is constructed, and four development strategies of campus e-commerce entrepreneurship are analyzed, namely SO (aggressive), WO (reverse), ST (resistance) and WT (defensive) strategies. In addition, the analytic hierarchy process is used to quantify the results of SWOT analysis of campus e-commerce entrepreneurship, analyze the proportion of various factors affecting college students' e-commerce entrepreneurship, and finally locate the development strategy of campus e-commerce. The research results show that the choice of campus e-commerce entrepreneurship development strategy should be based on the SO strategy, that is, relying on college students' entrepreneurial advantages, taking advantage of external development opportunities, building college students' e-commerce entrepreneurship service platform, improving financing channels, and better promoting the sustainable development of campus e-commerce entrepreneurship.

Sustainable entrepreneurship development in Oman: a multi-stakeholder qualitative study

PurposeEven though sustainable entrepreneurship has increasingly received researchers’ attention in recent years, the topic remains rather under-researched in natural resources’ rich Gulf countries such as Oman. Hence, this paper aims to fill this gap in the literature and, to the best of the authors’ knowledge, is one of the first attempts to assess the state of sustainable entrepreneurship development in Oman from a multi-stakeholder perspective.Design/methodology/approachThis paper uses a qualitative research approach where in-depth semi-structured interviews were undertaken with 12 respondents representing relevant stakeholders of sustainable entrepreneurship development in Oman. The interviewees included four sustainable entrepreneurs, four policymakers and four educationists representing entrepreneurial skills development institutes in Oman.FindingsThis papers’ findings highlight that despite some positive improvements, several critical challenges remain, which hinder sustainable entrepreneurship development. The authors further found the role of FinTech to be critical in this concern by all stakeholders, though its usage and acceptance remain low. Also, the costs associated with the post-carbon (sustainable) economy and different profitability evolution have resulted in a slow change in the policy development in this concern. From an educational (skills development) perspective, a lack of context-specific training programmes and culture-based hesitations appeared to be hindering achieving sustainable entrepreneurship possibilities in Oman. The nascent entrepreneurial ecosystem, bureaucracy and lack of human capital (attraction as well as retention) appeared to be significant challenges for entrepreneurs. Finally, the findings highlighted the need for cross-sector collaboration with clear benchmarks for effective policy development concerning sustainable entrepreneurship in Oman.Originality/valueTo the best of the authors’ knowledge, this paper is the first academic study explicitly highlighting the state of sustainable entrepreneurship in Oman by incorporating the development initiatives as well as the major challenges in the analysis. Secondly, this study is also a pioneering work specifying the interlinkage between financing (FinTech), policy initiatives and skills development and the development of a sustainable entrepreneurship ecosystem in an under-researched context of Oman. Finally, the transition to a sustainable economy is challenging in natural resources’ dependent economies like Oman, as it needs to be supported by the mindset change in the larger society (legitimacy). In this concern, this paper, to the best of the authors’ knowledge, is one of the first academic endeavours to also specify the role of legitimacy from the perspective of different stakeholders (and larger society) for sustainable entrepreneurship development in such contexts.

Analysis of the Role of International Entrepreneurship in Sustainable Development and Social Innovation

Analysis of the Role of International Entrepreneurship in Sustainable Development and Social Innovation