From the beginning of this minor, I have aimed to interrelate objectives from my study with important facets of entrepreneurship. My study, Science, Business & Innovation (SBI) is focused on the integration of both the scientific and business side of sustainable innovations. This is closely related to social entrepreneurship, the process of pursuing sustainable, innovative solutions to social problems. The primary goal of social firms is environmental sustainability and profit is a second. Oftentimes, firms recognize a value-creating market niche in which they pursue ‘green’ innovations and their primary mission is profit. These firms aren’t social firms, but sustainable enterprises. During the course Introduction Entrepreneurship, I decided to write a biography on social, serial entrepreneur Elon Musk, who adopts multiple missions to create and sustain social value. He envisions a clean, sustainable future and profit is clearly a second. For the course Entrepreneurship Industry, I found a highly interesting news article on NU.nl, which emphasizes the interconnection among social entrepreneurship and sustainable enterprising: “Sustainability is a profitable business model.” In this article, Dutch social entrepreneurs try to encourage business entrepreneurs to utilize sustainable business models, by exemplifying that there is a market niche for sustainable opportunities with high profits. Since we throw away all our empty milk cartons and water bottles too easily, social entrepreneur Everaarts invented a sustainable, refillable hard plastic bottle, as an alternative to the PET-bottle. His primary goal was to initiate a sustainable, innovative solution, but when Everaarts started his firm “Dopper” in 2010, he already sold 1.5 million bottles, creating profitable cash flows. (Blotenburg, 2014) Dopper is rapidly expanding and creates worldwide acceptance from local authorities. Currently, Dopper is expanding in Germany and Brazil. With his company, Everaarts tries to convince business entrepreneurs that sustainable enterprising can be highly profitable and helps to improve organizational performances.
Sustainable enterprising is of utmost importance for entrepreneurial professionals, especially in terms of support, credibility, organizational skills and resources. For instance, pursuing a sustainable opportunity could attract financial support from local authority in terms of incentives. Besides, local authorities and ambassadors can help your your company grow across the border. Social, sustainable enterprising can sharpen organizational focus and increase community impact. Moreover, it enhances planning and marketing skills and it augments widespread support for your company. (NCOA)
Blotenburg, S. (2014, 11 1). Duurzaam is een winstgevend business model. Retrieved on 1-11, 2014, from NU.nl: http://www.nu.nl/ondernemen/3917899/duurzaam-winstgevend-business-model.html
NCOA. (sd). Advantages and Barriers of Social Entrepreneurship. Retrieved on 1-11, 2014, from National Council on Aging (NCOA.org): http://www.ncoa.org/get-involved/funding-sustainability/12-sources-articles/source-9-advantages-and-barriers-social-entrepreneurship.html