Sustainable Business
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Sustainable Business

Theory and Practice of Business under Sustainability Principles

Edited by Geoffrey Wells

Recent surveys of international CEOs confirm that companies increasingly see sustainability as critical to their business strategy. The rigorous academic framework for the field of sustainable business required to respond to this need is now emerging. This book presents important new work in the theory of the sustainable firm, in the application of sustainability principles to key management disciplines, in sustainable business in practice, and in the international challenges that are critical to sustainability demands.
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Chapter 10: Sustainable entrepreneurship in family businesses

Shruti R. Sardeshmukh


Increasing awareness of the fragility of our environment and of the limited nature of our natural resources has highlighted the importance of ecological sustainable development. Ecologically sustainable development is defined as ‘development that improves the total quality of life, both now and in the future, in a way that maintains the ecological processes on which life depends’ (Australian Government, 1999). Ecologically sustainable development can take place through innovation and pursuit of sustainable entrepreneurial opportunities (Porter and Kramer, 2011). This conceptual chapter argues that the stewardship oriented governance characteristics of family businesses, honed through their long term focus and continuity, also create an excellent platform for the family businesses to identify and pursue ecologically sustainable entrepreneurship opportunities. Recognizing the importance of ecological sustainability, many initiatives have been undertaken at the international, national and individual level. International bodies have formed agreements to undertake initiatives that will help protect the natural resources.

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