I’ve been wrestling with the growing field of sustainable entrepreneurship, which has its roots in the concept of sustainable development that grew out of the conservation and environmental movement in the 1970s, so I a brief analysis to try to understand the concept further. Google Search sustainable development provides 30,600,000 websites, references and / or citations posted on the Internet suggests keen interest in all aspects of what is “sustainable”. The Merriam-Webster online dictionary defines ‘sustainable’ as “… for, or being a method of harvesting or using a resource so that the resource is not go or permanently damaged; … or related to lifestyle that includes the use of sustainable practices … “The key phrase is” do not go “, I have bold. This was and continues to be the core of sustainability that has produced a plethora of social economic movements, nothing more popular as sustainable development. Wikipedia [I am not a fan of this site, but it served its purpose in providing quick accounting material] says that sustainable development ties together concern for the carrying capacity of natural systems; it is the load capacity of nature to support all life, ie natural capital and human challenges of economic growth.
dating from the 1970s when the idea emerged in reference to restrictions on the advanced growth, the term “sustainability” was and is used to mix ecology and economic growth, with terms such as “Limits to Growth” and “balanced economy promote environmental causing wholesale changes to the building and zoning codes across the nation of economic development, especially land development. The idea that we have unlimited resources to develop was challenged by a new idea of limited resources that must be wisely developed in collaboration with nature has led competition forces that have shaped economic development in the past four years. practicers sustainable development consider it to have three components: environmental, economic sustainability and political sustainability. special interest groups on both sides of the spectrum have laid claim to this idea to construct their own agenda. However, , the common sense approach, in my mind, has always been preferred, especially when we almost unanimously in the world today there is a natural limit to the resources that must be recognized. With that said, I firmly believe that the free market has and will continue to be the best place to allow a mix of economic sustainable development to occur.
Examples of how the free market is used to achieve sustainability is the work of a pioneer Dr Brian Arthur Santa Fe Institute used the natural principles of biology to the study of economics, in particular economic growth; which has become known as “The Santa Fe approach”. Arthur was interested in explaining how economic markets work, how companies form what nature and how human agency, in order to grow, must adapt and integrate into their environment, constantly adjusting to changes. The ‘The Santa Fe Approach “was the leading concept that helped pave the way for a new field of economics called’ ecological economics. The concept of sustainable development has been furthered enriched by a new field of ecological economics popularized by Dr. Robert Costanza who founded the International Society for Ecological Economics (Isee) and carried out much of the founding research at the University of Maryland.
goal of ecological economics to ground economic thinking and practice in physical reality, especially the laws of thermodynamics and biological systems. It takes the objective of improve the health of people through economic development, and strive to ensure the success of this through on the way to sustainable development of ecosystems and communities. Ecological Economics distinguishes itself from neoclassical economics primarily by the claim that economics is a subfield of ecology, in ecology focuses on energy and materials business of life and the earth, and the human economy is with the definition contained in this system. This system is defined as a natural, consisting of all non-renewable resources like oil, coal, gas, and minerals, renewable resources such as ecosystem consisting of the earth, both quantitative and qualitative terms. It includes such terms as “carrying capacity” which refers to the ability of nature to support human activities, and leaves in the middle of what sustainable development is, and from sustainable entrepreneurship.
The recent White Paper entitled “Sustainable Innovation in SME. Theory and Practice “by Evy Crals and Lode Vereeck, defined sustainable development as an ongoing commitment by business to behave ethically and contribute to economic development while improving the quality of life of employees, their families, communities, society and the wider world as well as future generations. From sustainable development, according to this white paper, was sustainable entrepreneurship is defined as the continued commitment of companies to behave ethically and contribute to economic development while improving the quality of life of employees, their families, local and international community and future generations. Okay then, sustainable entrepreneurship may be considered a more holistic approach to business firms venture. But how does this relate to the true essence of entrepreneurship?
The Merriam Webster Dictionary defines an entrepreneur as one who organizes, manages and assumes the risks of a business or company. Often we use business and enterprise interchangeable to refer to same. The word “entrepreneur” comes from the French word ‘entreprendre’, which means “to undertake.” In a business context, it means to launch a business venture. Entrepreneurship and small business are typically used proprietary interchangeably and presented as one in the same. Indeed, entrepreneurship different small businesses in four important ways: the amount of wealth creation, speed wealth accumulation, risk and innovation. [Reference: See Green $ :. Achieving Entrepreneurial dream, LOGOS Press, January 2011]
In the case of adequate definitions of sustainable entrepreneurship, when referring to public safety, I would like to clarify that sustainable entrepreneurship can not and should not be about to establish some kind of social public interest in a communal frame associated with planned economies such as the former Soviet Union, East Germany, Cuba, Venezuela and socialists African counties. It is an oxymoron to do it. However, public interest in a free market context is the job that produces disposal income which begets increased demand for goods and services. It then follows the multiplier effect that makes dollars to flow through the economy something like 2 times or more, which further begets more demand for products and services, increasing disposal income, which leads to increased company revenues for re-investment, capital accumulation, and business growth. This compound produces greater economic state and federal corporate and personal income tax revenues, which allows for infrastructure investment in public works, such as roads, bridges, railways, dams and national lands as parks, wetlands, mountains, and the like.
Rather, in my opinion, sustainable entrepreneurship is the process of maintaining the level of sustainable development to create a paradigm shift in economic activities such as domestic GDP, job growth, investment, technological advancement and quality of life is unmatched, unique and unequaled. I know this seems a bit altruistic and sound like I’m talking about Utopia. But I’m not. We can and should seek through local, state and national efforts to seek to establish economic mentality that is strategically focused on innovation and genuine organic growth in individual communities across America. We can and should incorporate the concept of sustainability in a free market awareness and allow consummate entrepreneur who seeks wealth creation within the enormously risk-reward environment, through sustained invention and innovation to succeed. We can at least forget that it was, has and will be sustainable development that made our country great. We need so more of it now.