Sustainable Entrepreneurship

Sustainability has been a difficult concept for companies to understand and implement. Sustainable development is a serious obstacle due to the fact that corporations are used to running their business the same way that they always have. Implementing a new process and operation takes time to understand and incorporate. In addition to learning a new way of business, corporations are faced with strict government regulations,

Often times the focus is on the immediate profits and bottom line of the financials are driven by profit margins and immediate financial results. This tunnel vision can often times cause an organization to cut corners and not prepare for the long-term goals in sight. Whereas, providing a challenge in obtaining additional buy-in from businesses to support the overall cause, as well as, focusing on the longevity and long-term growth that the sustainable capitalism

Sustainable business philosophies are a system of fundamental or motivating principles that a business handles in different areas of operation based on the actions or beliefs of that business. “For businesses to have a sound business philosophy is the cornerstone of a successful business” (Burney, n.d). The businesses philosophy is usually the company’s mission and vision statement, which explains the company’s overall goals and their purpose of being in business (Burney, n.d.). Mission statements are a guide for a company to develop and implement a corporate sustainability strategy and are usually incorporated in a company’s sustainability report (Epstein & Buhovac, 2014). Sustainable business practices are when a business initiates environmentally-friendly operations internally and externally to become a sustainable organization and to reduce their environmental footprint by cutting down on waste (Belcher, n.d.).

As of the progress of society and technology development, sustainability has become a critical issue for the whole world as well as for the business. Although sustainability may mean different things for different people, the ultimate goal is to “meet the needs of people today without compromising

Over the course of a few centuries, industrialization has taken over and technology has been very adamant in the society. Although proven helpful, these advancements left us to confront an uncertain future because of the threats of environmental and economic collapse, over-population, terrorism, and diseases that was brought about by these new equipment and machines that due to irresponsible handling led to worse effects. There have been efforts by our governments and institutions that have tried to battle these problems but were just proven inadequate. The greatest irony in the world we are in right now is we have solutions to the current situation but these solutions often lead to worse problems. This is where social entrepreneurship comes in.

There are many ways to obtain sustainable business success from ecological, social to sustainable economic growth. Many corporations have become more concerned with greater social responsibility. High sustainable companies have stronger convictions in governance structure in regards to the environmental, social and financial aspects of sustainability (Eccles, Ioannou & Serafeim, 2012). Understanding how to have success and sustainability may pay off in the long run of a company.

The Sustainable Business Network (SBN) is a Not For Profit organization set in Auckland, New Zealand, with the aim to accommodate a forum for those businesses interested in sustainable development practice (Roper, 2004). SBN defines sustainable business as the “integration of economic growth, social equity and environmental management” (Fosters, 2010). Members of this social enterprise are offered support and resources to help minimize their environmental impact, as well as networking opportunities, training and sustainability assessments.

A statement found in Brundtland Report, Our Common Future, released during the 1987 United Nations World Commission on Environment and Development defined sustainable development as a "development that meets the needs of the present without compromising the ability of future generations to meet their own needs". Authors Wes Harry and Ina Ehnert describe sustainable development in a unique way in their

When I was a kid, I could have been what people would now call a social entrepreneur or

Sustainable development is a central concept within the environmental frame of thought and closely linked to the problem of global warming. The term sustainable development refers to the use of resources in a sustainable way, namely meeting the need of resources while not depleting them for future generations. The concept of sustainable development contains both needs and limitations, i.e. resources that are needed as well as technological and social limitations in responsible retrieval of those resources (World Commission on Environment and Development, 41).

As defined by the United Nations World Commission on Environment and Development in 1987, development is sustainable if it “meets the needs of the present without compromising the ability of future generations to meet their own needs.” This Report brought the need for sustainable development to the attention of the over twenty years ago and as I will explain it is becoming more relevant to us as the human race starts to realise that we are living on a finite planet which will run out of the resources to support us eventually.

Sustainable development is at present more than a mere facade for the business related community. Companies generally attain competitive edge, proliferate their market stock & share, and boost shareholder or stockholder value.

Sustainable development is defined in many methods, but the official definition is explained through Our Common Future: “Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs. It contains two key concepts: the concept of needs, in particular the essential needs of the world 's poor, to which overriding priority should be given; and the idea of limitations imposed by the state of technology and social organization on the environment 's ability to meet present and future needs.” From my point of view, there are three key points existing in this explanation: the needs of each class in the society, the limitation of development as well as the demands of present and future generation. These three points will be analyzed in detail below.

Ans:. Sustainable development refers to a mode of human development in which resource use aims to meet human needs while preserving the environment so that these needs can be met not only in the present, but also for generations to come. The term 'sustainable development ' was used by the Brundtland Commission which coined what has become the most often-quoted definition of sustainable development: "development that meets the needs of the present without compromising the ability of future generations to meet their own needs."

Sustainable development is the ‘development that meets the needs of the present generation without compromising the ability of the future generation from meeting their own needs ‘(Brundtland, 1987). This concept has developed more from the intergenerational framework as indicated in the brundtland report to incorporate the three pillars (social, environment and economic) as a whole through series of environmental meeting held.