RESPONSIBLE ENTREPRENEURSHIP AND INNOVATION: STEP TOWARDS SUSTAINABILITY

Abstract

Sustainable Development is concerned with efficient utilization of resources for economic development of a nation without comprising resources and quality of environment available for future generations. In 2015, member states of United Nations adopted 17 goals for achieving sustainable development. Out of these goals, goal 8, 9 and 12 were focused on responsible entrepreneurship for sustainable development. These goals emphasize the importance of efficient utilization of scarce resources and reduction of negative environmental impact caused by production processes. This article is an effort to understand what is sustainable business practices and why it is important. The author tries to highlight that the sustainable development goals which promote sustainable business practices and also show why it is dire need of the hour. The author uses qualitative data from several journals, books, webpages and websites of different organizations. The significance of the study lies in the fact that it focuses on the factors which can help businesses become sustainable and also points out the hurdles which comes in the path.