Definitions and Types Entrepreneurship Few topics in the business area have attracted more attention among academics and journalists than “entrepreneurship”. From an economic perspective, “entrepreneurship” is generally conceptualized as the creation of a new business and the bearing of the risk associated with that business in...
Sandra Taylor, who consulted with major brands include Starbucks and Eastman Kodak on the development and implementation of global corporate social responsibility (“CSR”) strategies, laid out seven steps that companies preparing for listing on public securities exchanges should take when implementing board oversight of corporate...
According to the authors of Sustainable Business: A Handbook for Starting a Business, published and distributed by New Zealand Trade and Enterprise, there are two types of principles for sustainable business: operational and strategic. Operational principles were described as being practical and addressing the questions...
Legal and regulatory requirements pertaining to sustainability are proliferating and consumers and other stakeholders are demanding information about sustainability-related issues and problems that go beyond that which may be required by governments. For larger companies with complex supply chains, this means that they must establish...
Bell and Stellingwerf compiled what they considered to be a representative list of definitions of “sustainable entrepreneurship” that were suggested from 2003 through 2011, all of which are presented below in chronological order[1]: “Innovative behavior of single or organizations operating in the private business sector...
Austin et al. surveyed various definitions of social entrepreneurship and observed that they ranged from broad to narrow.[1] Among the broader definitions are those see social entrepreneurship as an “innovative activity with a social objective in either the for-profit sector, such as in social-purpose commercial...
Even when armed with the most promising business idea, founders inevitably face a number of challenges from the moment they begin to consider whether or not to form a new company. Wasserman argued that founders must confront a number of “founders’ dilemmas” (see table below)...
One of issues that the founders need to consider is the form of legal entity for operation of their new business venture (e.g., corporation, partnership or limited liability company); however, regardless of the form of entity selected the founders need to sit down and carefully...
Lawai et al. provided a summary of research that was relevant to identifying the key determinants of successful sustainable entrepreneurship[1]: According to Koe et al., attitudinal factors (i.e. sustainable attitude) and perceptual factors (i.e. perceived desirability and perceived feasibility) were important in influencing a person’s...
Berge discussed the concept of a “social enterprise” including the following description: “A social enterprise’s primary objective is to ameliorate social problems through a financially sustainable business model, where surpluses (if any) are principally reinvested for that purpose”.[1] According to Fury, the elements of a...