Fostering sustainable entrepreneurship by business strategies: An explorative approach in the bioeconomy

Maria Urbaniec, Mariusz Sołtysik, Anna Prusak, Konrad Kułakowski and Magdalena Wojnarowska

Business Strategy and the Environment, 2022, vol. 31, issue 1, 251-267

Abstract: The conceptual framework of bioeconomy advances sustainability by ensuring that environmental, social, and economic goals are met. Although numerous authors perceive bioeconomy as a key sector to achieve sustainable transformation, there is a lack of a comprehensive set of factors determining sustainable entrepreneurship in the bioeconomy sector. This study aims to identify factors influencing business strategies for sustainable entrepreneurship in the bioeconomy sector. This study uses the triangulation of research methods, including the entrepreneurial discovery process, as well as multiple‐criteria methods of the pairwise comparison and the analytic hierarchy process. This study serves as grounds for the identification of priority factors influencing the choice of relevant business strategies in the bioeconomy. Within the framework of the research, five core factors are specified: economic‐and‐financial, market, technological, ecological, organization‐and‐human resources, and legal. The findings reveal that the most significant factors are economic‐and‐financial and market factors that determine the choice of innovative and offensive strategies by bioeconomy enterprises. These strategies impact entrepreneurial decision‐making processes in the environmental and social areas, and they contribute to the development of more sustainable and entrepreneurial ecosystems. To advance the research on sustainable entrepreneurship, different theoretical perspectives are combined, including economics, strategic management, and innovation perspective.

Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

Downloads: (external link)
https://doi.org/10.1002/bse.2885

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bla:bstrat:v:31:y:2022:i:1:p:251-267

Ordering information: This journal article can be ordered from
http://onlinelibrary ... 1002/(ISSN)1099-0836

Access Statistics for this article

Business Strategy and the Environment is currently edited by Richard Welford

More articles in Business Strategy and the Environment from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().