Corporate Entrepreneurship & Sustainability
Corporate entrepreneurship and sustainability focuses on the involvement of the society in the business process to create shared value. It is a good competitive strategy for the businesses today to ensure competitive advantage as well as major return on investment.
1.Miles, M. P., Munilla, L. S., & Darroch, J. (2009). Sustainable corporate entrepreneurship. International Entrepreneurship and Management Journal, 5(1), 65-76.
The paper analyses how sustainability can be integrated into a system involving corporate entrepreneurship. Over the previous years, the topic on corporate entrepreneurship has been looked at from one perspective. It is viewed as a process that boosts the company’s growth rate by coming up with new products, generating ideas ,processes , markets and strategic decisions. Recently though the cost of operation has increased and managers have started to focus on sustainability and corporate social responsibility. Managers who engage in practicing sustainability practices have seen a formidable change by providing a stimulus that for corporate entrepreneurship that may result in the creation, discovery, assessment, and creation of entrepreneurial opportunities, a very good reputation and eventually get a competitive edge in the market. Sustainability is the best progressive tool that managers can use in order to work together with the community. Shareholders are specifically advocating for the method pushing the management to agree to take the method and use it.
2.Dess, G. G., & Lumpkin, G. T. (2005). The role of entrepreneurial orientation in stimulating effective corporate entrepreneurship. The Academy of Management Executive, 19(1), 147-156.
The article examines a research that was done to establish the relationship between the firm’s orientation towards entrepreneurship and how it performs on a large scale. It is noted by the authors of that a firm that picks up the strategy of corporate entrepreneurship are able to grow by exploring new venture opportunities and they constantly renew their strategies. They are sustainable advantages that were observed for the firms that choose to follow the corporate entrepreneurship strategy like above average return on investments and other sustainable advantages. The article outlines and discusses the major aspects of corporate entrepreneurship they include: autonomy, innovativeness, being proactive, competitiveness, being aggressive, and taking risks. They identify areas within which managers can take future advantage and explore the new areas. They also further discuss the implications that mangers have from implementing these strategies in their corporations. The main thing from the discussion of the article is that entrepreneurial orientation is the best strategy for managers to follow in order to ensure that there is sustainable growth in the organization.
3.Morrish, S. C., Miles, M. P., & Polonsky, M. J. (2011). An exploratory study of sustainability as a stimulus for corporate entrepreneurship. Corporate social responsibility and environmental management, 18(3), 162-171.
The paper discusses on a study carried out in New Zealand publicly traded firms. It examines how the firms are using sustainability as a stimulus to advance corporate entrepreneurship. The researchers had some several findings about the firms that were investigated. The firms did not incorporate sustainability in their mission statements. They did not recognize the process in any of their products. Their processes were entirely based on the manual concept and did not integrate sustainability. The strategies and business model innovative initiative did not allow room for sustainability. The companies that were found to incorporate sustainability they did so but under varying, digress ,it was not a fully implemented in the firms. The firms in New Zealand do not seem to recognize sustainability as a stimulus that can lead to corporate growth. They are a reflection of other firms worldwide that have not adopted the concept fully in their production process. It remains an alien process in many firms around the world not only New Zealand .
4.Weidinger, C., Fischler, F., & Schmidpeter, R. (2014). Sustainable entrepreneurship: Business success through sustainability. Heidelberg: Springer.
The book discusses the sustainable entrepreneurship as business strategy that involves increase the total value of a business by including the social aspect. As noted, most managers do not regard the contribution of the society towards the success of their organizations. However, the book shows how the concept of sustainability is a unique strategy that most business will have to adopt for future success. The book pinpoints the advantages that accrue from using sustainable entrepreneurship in the business. The book acts as a motivator for encouraging the businesses, which have not undertaken sustainable entrepreneurship to do start practicing the strategy. Sustainable entrepreneurship contributes to solving some of the major challenges facing the world like climate change, political and economic uncertainty, and ensuring successful businesses. It provides a detailed framework of sustainable entrepreneurship. How it should look like, and its major key drivers. It is a detailed book and the authors have critically discussed the issue of social responsibility of businesses.
5. Atiq, M., & Karatas-Ozkan, M. (2013). Sustainable corporate entrepreneurship from a strategic corporate social responsibility perspective: Current research and future opportunities. The International Journal of Entrepreneurship and Innovation, 14(1), 5-14.
The paper explores the process of sustainable entrepreneurship from the realm light of strategic corporate social responsibility. It has a very interesting approach as it draws from the entrepreneurship studies that focus on opportunity creation and enforcement. The authors of the come up with a conceptual framework for sustainable entrepreneurship that combines an entrepreneurial approach with sustainability. The suggestion of the authors is that sustainability should form part of the firm’s business operations and sustainable business operations should be driven by an entrepreneurial approach in order to create a shared value that is value for both the community and the business. The creation of shared value is the major outcome of sustainable corporate entrepreneurship. It is the main reason behind the success of major businesses that have recognized a community is part of a business. The framework proposed will ensure that the business reap from using the process of suistanability. It is a key strategy to survive in the business world today.
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