1. BU6019 Sustainable Entrepreneurship
Session Two:
A new way of thinking!
Sustainable Development Vs Sustainable Entrepreneurship
(An interactive workshop)

2. It’s good to think!
Marks and Spencer’s “Plan A” is its sustainability strategy.
It is a leader in sustainability activities in the retail sector!
Over 5 years, since introducing “Plan A”, it has added £ (guess how much?)…. Million to its bottom line, e.g. through recycling.
Remember: The Triple Bottom Line! (Planet, people and profit!)
(Self Study: Conduct some research into Marks and Spencer’s “Plan A” strategy)

3. The Environment we work and live in!
“IT’S NOT MY PROBLEM!”
… So, just whose problem is it then?

4. Sustainable development vs Sustainable entrepreneurship Q: What “really” defines “sustainability”?

5. One Answer: “A method of harvesting or using a resource, so that the resource is not depleted or permanently damaged” It is argued that “Sustainability” blends both ecology and economic growth! Remember: It is important at this stage that you do some reading in your own time! Please examine the views of theorists/experts and examine their different definitions of sustainability.

6. Over to you… Please discuss:
“To what degree do you think entrepreneurs need to change their behaviour? Why, how and in what way?
Footnote:
“Sustainable describes methods of power generation to help preserve the earth’s natural systems”
(Richard Branson 2013)

7. Sustainable Entrepreneurship
Really brought to attention in the 1970s with more concern for conservation and the environment (see last week’s definitions)
2. Sustainable Development
A commitment by businesses to behave ethically and contribute to economic development, while improving the life of its stakeholders – and indeed future generations!
Remember: “Sustainable Entrepreneurship” has its roots in “Sustainable Development” also derived from the 1970s approach to environmental concerns.

8. Benefits of Sustainable Entrepreneurship
Positive image and reputation
Less dependency on resources that may become scarce
Organisations become more efficient and effective
Employees “feel good” about where they work (increased morale)
Less waste – “Leaner” production (e.g. recycling)
Less health and safety risks/near misses
Up to date CSR policies
Networking with other “like minded” entrepreneurs (e.g. FSB/Chamber of Commerce)
Improved “Transformation Process” nationally and internationally
“Examine every aspect of your operation for ways that you can reduce, reuse and recycle” – Richard Branson (2013)

9. And finally…
Please visit the library and have a look at Barrow (2006 and Wagner (2012) from the reading list in your student handbook
Even though some argue sustainable entrepreneurship really is sustainable development, others argue that sustainable development is a concept based upon:
Environmental sustainability
Economic sustainability
Socio-political sustainability
… Isn’t this reflecting the triple bottom line?...something to think about!