An Analysis of Innovation in Entrepreneurship and its link to Sustainable Development Goals

SERAH, KALAMBO MBETWA (2018) An Analysis of Innovation in Entrepreneurship and its link to Sustainable Development Goals. In: Sixth International Conference on Advances in Social, Economics and Management - SEM 2018, 28-29 April, 2018, Zurich, Switzerland.

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Abstract

Innovation and Entrepreneurship is an economic engine of any economy especially developing nations. A need therefore exists to understand entrepreneurship in the context of innovation and sustainable development goals. It is important to note that most entrepreneurs in Africa have failed to embrace innovation in its totality and as a result most businesses are unable to cope with the technological changes that are taking place every day. Therefore the cost of doing business has gone up. For example, entrepreneurs stick to the old ways of doing business instead of using new technologies to enhance business. Such businesses fail to cope with the ever changing world and subsequently lose market and wind up. It is sad to note that in Zambia for example most companies have scaled down due to high cost of doing business. In bettering the lives of the people, the United Nations have developed 17 sustainable development goals. In crafting their business strategies, entrepreneurs should therefore be alive to these goals to maximize their potential and therefore be regarded as being sustainable. Significance of the Study The significance of the study is to allow the researchers to understand the linkages between innovation, entrepreneurship and sustainable development goals. It will also help us to be aware about the need to embrace innovation and achieve better living through the embracing of sustainable development goals. Design/ methodology Secondary data collected mostly through literature reviews showed that entrepreneurs in developing countries are resilient; however, most of these businesses are not managed sustainably and hence wind up. This can be attributed to the fact that most of them lack innovation necessary to move the businesses forward and fail to adapt to the many technological changes that are taking place every day. Findings The findings revealed that entrepreneurship and innovation management are linked for any successful business. Innovation and sustainable development in developing countries are fundamental to any form of any enterprise. A combination of the innovation and entrepreneurship coupled with the embracement of sustainable development goals holds the key to organizational sustainability in this period of rapid change. Value This paper will benefit various stakeholders especially those with an entrepreneurial mind. Our view on business organisation and innovation will change. For the authors, the primary value of this paper is the opportunity to learn about the linkage between entrepreneurship and innovation and how sustainable businesses will impact on business and the economy at large. The authors believe, this research paper will add value to the existing body of knowledge in terms of academics and practical aspects. It will also add value to the existing body of academicians, researchers and the business men and women around the globe. Entrepreneurship will be seen as tool for innovation and that environmental changes must be managed if any business is to be a success.

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: Economy, Entrepreneurship, Innovation, Sustainable Development
Depositing User: Mr. John Steve
Date Deposited: 08 Mar 2019 14:50
Last Modified: 08 Mar 2019 14:50
URI: http://publications.theired.org/id/eprint/153

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