IDEAS home Printed from https://ideas.repec.org/a/bla/bstrat/v31y2022i1p251-267.html
   My bibliography  Save this article

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

Author

Listed:
  • Maria Urbaniec
  • Mariusz Sołtysik
  • Anna Prusak
  • Konrad Kułakowski
  • Magdalena Wojnarowska

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.

Suggested Citation

  • Maria Urbaniec & Mariusz Sołtysik & Anna Prusak & Konrad Kułakowski & Magdalena Wojnarowska, 2022. "Fostering sustainable entrepreneurship by business strategies: An explorative approach in the bioeconomy," Business Strategy and the Environment, Wiley Blackwell, vol. 31(1), pages 251-267, January.
    • Handle: RePEc:bla:bstrat:v:31:y:2022:i:1:p:251-267
    DOI: 10.1002/bse.2885
    as

    Download full text from publisher

    File URL: https://doi.org/10.1002/bse.2885
    Download Restriction: no
    File URL: https://libkey.io/10.1002/bse.2885?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Anand, Amitabh & Argade, Padmaja & Barkemeyer, Ralf & Salignac, Fanny, 2021. "Trends and patterns in sustainable entrepreneurship research: A bibliometric review and research agenda," Journal of Business Venturing, Elsevier, vol. 36(3).
    2. Doroshuk G.A. & Pechkurova A.E., 2015. "Process innovations in the enterprise life cycle system," Economics: time realities Экономика: реалии времени, CyberLeninka;Одесский национальный политехнический университет, issue 2 (18), pages 61-66.
    3. Vivien, F.-D. & Nieddu, M. & Befort, N. & Debref, R. & Giampietro, M., 2019. "The Hijacking of the Bioeconomy," Ecological Economics, Elsevier, vol. 159(C), pages 189-197.
    4. Frank Martin Belz & Julia Katharina Binder, 2017. "Sustainable Entrepreneurship: A Convergent Process Model," Business Strategy and the Environment, Wiley Blackwell, vol. 26(1), pages 1-17, January.
    5. Marcus Wagner, 2009. "Innovation and competitive advantages from the integration of strategic aspects with social and environmental management in European firms," Business Strategy and the Environment, Wiley Blackwell, vol. 18(5), pages 291-306, July.
    6. David Zilberman & Ben Gordon & Gal Hochman & Justus Wesseler, 2018. "Economics of Sustainable Development and the Bioeconomy," Applied Economic Perspectives and Policy, Agricultural and Applied Economics Association, vol. 40(1), pages 22-37.
    7. Fokko J. Eller & Michael M. Gielnik & Hendrik Wimmer & Corinna Thölke & Sara Holzapfel & Silke Tegtmeier & Jantje Halberstadt, 2020. "Identifying business opportunities for sustainable development: Longitudinal and experimental evidence contributing to the field of sustainable entrepreneurship," Business Strategy and the Environment, Wiley Blackwell, vol. 29(3), pages 1387-1403, March.
    8. Boyd Cohen, 2006. "Sustainable valley entrepreneurial ecosystems," Business Strategy and the Environment, Wiley Blackwell, vol. 15(1), pages 1-14, January.
    9. Ana Margarida Esteves & Audley Genus & Thomas Henfrey & Gil Penha‐Lopes & May East, 2021. "Sustainable entrepreneurship and the Sustainable Development Goals: Community‐led initiatives, the social solidarity economy and commons ecologies," Business Strategy and the Environment, Wiley Blackwell, vol. 30(3), pages 1423-1435, March.
    10. Stefan Schaltegger & Marcus Wagner, 2011. "Sustainable entrepreneurship and sustainability innovation: categories and interactions," Business Strategy and the Environment, Wiley Blackwell, vol. 20(4), pages 222-237, May.
    11. Arne Isaksen & Nina Kyllingstad & Jan Ole Rypestøl & Ann Camilla Schulze-Krogh, 2018. "Differentiated regional entrepreneurial discovery processes. A conceptual discussion and empirical illustration from three emergent clusters," European Planning Studies, Taylor & Francis Journals, vol. 26(11), pages 2200-2215, November.
    12. Padmaja Argade & Fanny Salignac & Ralf Barkemeyer, 2021. "Opportunity identification for sustainable entrepreneurship: Exploring the interplay of individual and context level factors in India," Business Strategy and the Environment, Wiley Blackwell, vol. 30(8), pages 3528-3551, December.
    13. Albert Jolink & Eva Niesten, 2015. "Sustainable Development and Business Models of Entrepreneurs in the Organic Food Industry," Business Strategy and the Environment, Wiley Blackwell, vol. 24(6), pages 386-401, September.
    14. Karen Palmer & Wallace E. Oates & Paul R. Portney & Karen Palmer & Wallace E. Oates & Paul R. Portney, 2004. "Tightening Environmental Standards: The Benefit-Cost or the No-Cost Paradigm?," Chapters, in: Environmental Policy and Fiscal Federalism, chapter 3, pages 53-66, Edward Elgar Publishing.
    15. Stein, William E. & Mizzi, Philip J., 2007. "The harmonic consistency index for the analytic hierarchy process," European Journal of Operational Research, Elsevier, vol. 177(1), pages 488-497, February.
    16. L. Nieth & P. Benneworth & D. Charles & L. Fonseca & C. Rodrigues & M. Salomaa & M. Stienstra, 2018. "Embedding entrepreneurial regional innovation ecosystems: reflecting on the role of effectual entrepreneurial discovery processes," European Planning Studies, Taylor & Francis Journals, vol. 26(11), pages 2147-2166, November.
    17. Etzkowitz, Henry & Leydesdorff, Loet, 2000. "The dynamics of innovation: from National Systems and "Mode 2" to a Triple Helix of university-industry-government relations," Research Policy, Elsevier, vol. 29(2), pages 109-123, February.
    18. Dinu Vasile, 2019. "The Transition to Bioeconomy," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 21(50), pages 1-5, February.
    19. Christine Volkmann & Klaus Fichter & Magnus Klofsten & David B. Audretsch, 2021. "Sustainable entrepreneurial ecosystems: an emerging field of research," Small Business Economics, Springer, vol. 56(3), pages 1047-1055, February.
    20. Justus Wesseler & Joachim von Braun, 2017. "Measuring the Bioeconomy: Economics and Policies," Annual Review of Economics, Annual Reviews, vol. 9(1), pages 275-298, October.
    21. D'Adamo, Idiano & Falcone, Pasquale Marcello & Morone, Piergiuseppe, 2020. "A New Socio-economic Indicator to Measure the Performance of Bioeconomy Sectors in Europe," Ecological Economics, Elsevier, vol. 176(C).
    22. Justus Wesseler & Joachim von Braun, 2017. "Measuring the Bioeconomy: Economics and Policies," Annual Review of Resource Economics, Annual Reviews, vol. 9(1), pages 275-298, October.
    23. Manfred Kircher, 2019. "Bioeconomy: Markets, Implications, and Investment Opportunities," Economies, MDPI, vol. 7(3), pages 1-36, July.
    24. Mariusz Sołtysik & Maria Urbaniec & Magdalena Wojnarowska, 2019. "Innovation for Sustainable Entrepreneurship: Empirical Evidence from the Bioeconomy Sector in Poland," Administrative Sciences, MDPI, vol. 9(3), pages 1-21, July.
    25. Tévécia Ronzon & Stephan Piotrowski & Saulius Tamosiunas & Lara Dammer & Michael Carus & Robert M’barek, 2020. "Developments of Economic Growth and Employment in Bioeconomy Sectors across the EU," Sustainability, MDPI, vol. 12(11), pages 1-13, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sebastian Hinderer & Andreas Kuckertz, 2022. "The bioeconomy transformation as an external enabler of sustainable entrepreneurship," Business Strategy and the Environment, Wiley Blackwell, vol. 31(7), pages 2947-2963, November.
    2. Christina-Ioanna Papadopoulou & Efstratios Loizou & Fotios Chatzitheodoridis, 2022. "Priorities in Bioeconomy Strategies: A Systematic Literature Review," Energies, MDPI, vol. 15(19), pages 1-15, October.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sebastian Hinderer & Andreas Kuckertz, 2022. "The bioeconomy transformation as an external enabler of sustainable entrepreneurship," Business Strategy and the Environment, Wiley Blackwell, vol. 31(7), pages 2947-2963, November.
    2. Matthew P. Johnson & Jacob Hörisch, 2022. "Reinforcing or counterproductive behaviors for sustainable entrepreneurship? The influence of causation and effectuation on sustainability orientation," Business Strategy and the Environment, Wiley Blackwell, vol. 31(3), pages 908-920, March.
    3. Francesca Ricciardi & Cecilia Rossignoli & Alessandro Zardini, 2021. "Grand challenges and entrepreneurship: Emerging issues, research streams, and theoretical landscape," International Entrepreneurship and Management Journal, Springer, vol. 17(4), pages 1673-1705, December.
    4. Aikaterini Argyrou & Nicolas Chevrollier & Andre Nijhof, 2023. "The versatile role of sustainable market entrepreneurs in market transformation: An intervention framework for institutional change," Business Strategy and the Environment, Wiley Blackwell, vol. 32(1), pages 259-273, January.
    5. Hellen Lillian Atieno Dawo & Thomas B. Long & Gjalt de Jong, 2023. "Sustainable entrepreneurship and legitimacy building in protected areas: Overcoming distinctive barriers through activism," Business Strategy and the Environment, Wiley Blackwell, vol. 32(1), pages 72-95, January.
    6. Sara Moggi & Paul Pierce & Nicole Bernardi, 2022. "From sustainability to thrivability: A novel framework for entrepreneurial ecosystems," International Entrepreneurship and Management Journal, Springer, vol. 18(2), pages 829-853, June.
    7. Régis Y. Chenavaz & Alexandra Couston & Stéphanie Heichelbech & Isabelle Pignatel & Stanko Dimitrov, 2023. "Corporate Social Responsibility and Entrepreneurial Ventures: A Conceptual Framework and Research Agenda," Sustainability, MDPI, vol. 15(11), pages 1-30, May.
    8. Matthew P. Johnson & Stefan Schaltegger, 2020. "Entrepreneurship for Sustainable Development: A Review and Multilevel Causal Mechanism Framework," Entrepreneurship Theory and Practice, , vol. 44(6), pages 1141-1173, November.
    9. Theodore Tarnanidis & Jason Papathanasiou & Demetres Subeniotis, 2019. "How Far the TBL Concept of Sustainable Entrepreneurship Extends Beyond the Various Sustainability Regulations: Can Greek Food Manufacturing Enterprises Sustain Their Hybrid Nature Over Time?," Journal of Business Ethics, Springer, vol. 154(3), pages 829-846, February.
    10. Padmaja Argade & Fanny Salignac & Ralf Barkemeyer, 2021. "Opportunity identification for sustainable entrepreneurship: Exploring the interplay of individual and context level factors in India," Business Strategy and the Environment, Wiley Blackwell, vol. 30(8), pages 3528-3551, December.
    11. Sanjay Chaudhary & Puneet Kaur & Hind Alofaysan & Jantje Halberstadt & Amandeep Dhir, 2023. "Connecting the dots? Entrepreneurial ecosystems and sustainable entrepreneurship as pathways to sustainability," Business Strategy and the Environment, Wiley Blackwell, vol. 32(8), pages 5935-5951, December.
    12. Maximilian Kardung & Kutay Cingiz & Ortwin Costenoble & Roel Delahaye & Wim Heijman & Marko Lovrić & Myrna van Leeuwen & Robert M’Barek & Hans van Meijl & Stephan Piotrowski & Tévécia Ronzon & Johanne, 2021. "Development of the Circular Bioeconomy: Drivers and Indicators," Sustainability, MDPI, vol. 13(1), pages 1-24, January.
    13. Torbjörn Ljungkvist & Jim Andersén, 2021. "A taxonomy of ecopreneurship in small manufacturing firms: A multidimensional cluster analysis," Business Strategy and the Environment, Wiley Blackwell, vol. 30(2), pages 1374-1388, February.
    14. Agata Niemczyk & Zofia Gródek-Szostak & Donata Adler & Michał Niewiadomski & Eva Benková, 2023. "Green Entrepreneurship: Knowledge and Perception of Students and Professionals from Poland and Slovakia," Sustainability, MDPI, vol. 16(1), pages 1-24, December.
    15. Andrew M. Neill & Cathal O’Donoghue & Jane C. Stout, 2020. "A Natural Capital Lens for a Sustainable Bioeconomy: Determining the Unrealised and Unrecognised Services from Nature," Sustainability, MDPI, vol. 12(19), pages 1-24, September.
    16. Maciejczak, Mariusz, 2023. "Nature Based Innovations in the Development of Bioeconomy," Roczniki (Annals), Polish Association of Agricultural Economists and Agribusiness - Stowarzyszenie Ekonomistow Rolnictwa e Agrobiznesu (SERiA), vol. 2023(2).
    17. Tévécia Ronzon & Susanne Iost & George Philippidis, 2022. "Has the European Union entered a bioeconomy transition? Combining an output-based approach with a shift-share analysis," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(6), pages 8195-8217, June.
    18. D'Amato, D. & Korhonen, J., 2021. "Integrating the green economy, circular economy and bioeconomy in a strategic sustainability framework," Ecological Economics, Elsevier, vol. 188(C).
    19. Matthias Filser & Sascha Kraus & Norat Roig-Tierno & Norbert Kailer & Ulrike Fischer, 2019. "Entrepreneurship as Catalyst for Sustainable Development: Opening the Black Box," Sustainability, MDPI, vol. 11(16), pages 1-18, August.
    20. Kevin Reuther & Yngve Dahle & Carolin Schmidt & Franziska Schösser, 2023. "Motivational Facets of Sustainable Entrepreneurship: A Systematic Review and Future Research Agenda," Sustainability, MDPI, vol. 15(3), pages 1-23, January.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:bstrat:v:31:y:2022:i:1:p:251-267. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://onlinelibrary.wiley.com/journal/10.1002/(ISSN)1099-0836 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.