Understanding Enterprise: Theory and Practice

Understanding Enterprise: Theory and Practice

Conspicuously, the primary rationale for this report is to explore the concept of sustainability enterprise in the field of entrepreneurship. Sustainable enterprise is a technique of conducting business operations with the aim of making profits through various methods that diminish harm to the public and the environment too. It turns challenges into business opportunities that serve a triple bottom line of benefits, society, and the environment (Edgeman 2012). Entrepreneurs who happen to appropriately view and act pro-actively on the prospects for transformation through the aspect of sustainable enterprise and in an enormously impulsive business setting not only endure but also efficaciously flourish in the roughest of the financial circumstances (Shrivastava 2013). Such entrepreneurs often utilize the aspect of sustainability as a technical and deliberate tool to establish an agile culture and operational business procedures.

Basically, every individual who wants to prevail in any business set up ought to put into consideration the sustainability feature. In regards to the start-up idea, Smart Engineering, and Business Solutions, sustainability has been embraced proficiently. Smart Engineering Business Solutions happens to be a platform that amalgamates numerous universities and companies to establish sturdy research. Besides, it facilitates the development of faculty that merges the universities and companies with public entities such as various national administrations.

In essence, the primary rationale for the business is to target the various developing nations and augment their development levels. Apparently, this is to be achieved through the event of conducting the proper research the administration desires for development. Besides, the business intends to incorporate an educational segment in the platform where the general public will be able to view all the ventures designed or being undertaken and learn from it.

Smart Engineering Business Solutions is a perfect instance of the sustainability enterprise entrepreneurial concept. The business intends to solve a significant market gap that seems to be unfilled for a long period to generate income and equally diminish both environmental and societal harms. Markedly, the market gaps epitomize the various prospects for entrepreneurs to magnify their client base by elevating cognizance and establishing targeted suggestions or advertising operations to grasp the unexploited market. The process of identifying gaps in the market place happens to be an imperative stride towards the event of growing market penetration (Waddock 2017). Currently, one would argue that there is no existence of market gaps regarding sustainability enterprise in the business environment. However, through robust research, one is able to identify the hidden market gaps.

The majority of entrepreneurs have confessed that the concept of sustainability enterprise determines whether a business will endure survival or face death over time. In the event, this business idea is transformed into a sustainability-linked actuality; it ought to enjoy the following significances:

1. Effective accomplishment of business growth objectives
2. Generation of adequate profits due to the large market
3. An effective response to industry disrupters and mounting market share
4. Quick response to the external predicaments

Bibliography

• Edgeman, R.L. and Eskildsen, J.K., 2012. Viral innovation: integration via sustainability & enterprise excellence. Journal of Innovation and Business Best Practices, 2012, p.1. [online] available from https://www.academia.edu/download/43864640/Viral_Innovation_Integration_via_Sustain20160318-23889-eirgma.pdf [4 April 2020]
• Shrivastava, P. and Kennelly, J.J., 2013. Sustainability and place-based enterprise. Organization & environment, 26(1), pp.83-101. [online] available from https://journals.sagepub.com/doi/abs/10.1177/1086026612475068 [4 April 2020]
• Waddock, S. and McIntosh, M., 2017. SEE change: Making the transition to a sustainable enterprise economy.