Sustainable Entrepreneurship the Purpose of Essay

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The article is an exciting approach to capitalist development in that it finds conditions under which sustainable entrepreneurship and sustainability innovation emerge spontaneously and can practically work. As the study points out, one of the classical things that capitalism does is to "creatively destroy." It is this ability to destroy what is old and does not work and build and impose what is new and does is the primary benefit of capitalism. What sustainable entrepreneurship has done is to apply this as a positive force in realizing the field's lofty goals where public government initiatives have failed to achieve them. The article conducts an extensive literature review to accomplish just this task (ibid. pp. 223-225).

However, until now, there has not been one universally recognized definition of what sustainable development is. Such research and definitions have implications for theory and practitioners in that it clarifies which firms are most likely under specific conditions to make moves towards sustainability innovation. The article does this by defining sustainable entrepreneurship as the realization of sustainability innovations that are aimed at the mass market and that provide benefit to the larger part of society. This is of course driven by stakeholder (namely consumer) demands for environmentally and socially responsible products and services. What sustainable entrepreneurship essentially does is to bridge the gap between individual consumer stakeholder demands and the individual manager's entrepreneurship in the marketplace to make sure that these concerns are carried out. Further, what we find is that sustainable entrepreneurship surpisingly extends the goal of corporate influence beyond simple market success to actually initiating societal change and in changing market conditions and regulations to bring about social change. Therefore, the market itself is being employed to make up responsible social change (ibid.

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pp. 225-226).

The article presents a theoretical framework upon how this methodology is carried out. Bottom line, sustainable entrepreneurship is based upon action carried out by management in a sustainable fashion. This is especially the case as seen in the environmental area. Increasingly, it is seen as emerging from the area where such demands for sustainability and social responsibility meet individual consumer market choices. This has forced even large firms to become cognizant of such consumer demands and to incorporate them into their product and service design. In this way sustainable entrepreneurs engage their "dynamic capabilities" that allow them to react more quickly to unanticipated or other short-term changes in the marketplace

(ibid. pp. 227-232).

The article further makes its contribution by showing that the available research needs to be expanded considerably with regard to motivations for innovation and that earlier models of sustainable entrepreneurship need to be refined. When such motivation is properly understood, then it can be ever better channeled into the proper avenues of entrepreneurial innovation (ibid., 234).

Conclusion

In the opinion of this author, the article largely accomplishes its goal of establishing a theoretical framework to explain how to make social entrepreneurship work and how to channel market forces to accomplish this. The model which the article's authors have outlined for sustainability innovations exists in an environment where innovations have to be done where there are few resources available. This is the reason there is a need for entrepreneurship.

In areas where there is a need for more research, the article points to the need for more research and the additional directions where such research can be conducted to find the answers......

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