Sustainable entrepreneurship
Summary 2024/2025
Table of contents
Week 1 2
Introduction (Lecture 1) 2
Article 1: The New Field of Sustainable Entrepreneurship (Shepard & Patzelt, 2011) 2
Abstract 2
A Definition of Sustainable Entrepreneurship 2
Identifying an environmental problem (Lecture 2) 5
Article 2: Market imperfections, opportunity and sustainable entrepreneurship. (Cohen
& Winn, 2007) 5
Abstract 5
Market imperfections 6
Week 2 9
Guest lecture Sander Fleuren (Lecture 3) 9
Dr. Ackoff on system thinking 9
Tackling symptoms and root causes 9
Main contents 9
Emerging Social Enterprise tendencies 10
System thinking for businesses 10
Article 3: Complexity and Transition Management (Rotmans & Lorbach, 2009) 11
Complex Systems Theory Overview: 11
Managing Complex, Adaptive Systems Overview: 12
Transition Management Framework 13
Week 3 14
Article 4: Six ways to build circular business models (Bocken & Ritala, 2018) 14
Introduction 14
What are the feasible resource and innovation strategies? 14
Article 5: Experimenting with a circular business model: Lessons from eight cases
(Bocken & Kraaijenhagen, 2021) 16
Abstract 16
Literature 16
Research methods 17
Results 18
Guest lecture Christiaan Kraaijenhagen (Lecture 4) 19
Barriers for sustainable buying 19
Week 4 21
Article 6 Towards regenerative business models: A necessary shift? (Konietzko et al.,
2023) 21
Introduction 21
, Methods 21
Results 21
Regenerative business model framework 22
Article 7: Scaling for Social Enterprise Development: A Mixed Embeddedness
Perspective on Two Dutch Non-Profit Organisations (Verver et al., 2024) 24
Abstract 24
Literature 24
Research design and methodology 25
Conclusion and implications 25
Article 8: ‘Changing the System’: Compensatory versus Transformative Social
Entrepreneurship (Newey, 2017) 26
Abstract 26
Alter-globalisation movement 26
Compensatory Social Entrepreneurship (CSE) 26
System Change Limits of Compensatory Social Entrepreneurship (CSE): 27
Transformative Social Entrepreneurship (TSE): 28
Regenerative business models (Lecture 5) 29
Week 5 30
Article 9: How to stay on the road? A business model perspective on mission drift in
social purpose organisations (Klein et al., 2021) 30
Abstract 30
Social Purpose Organizations (SPOs) and Business Model Innovation (BMI) 30
Results 31
Measuring Impact and Mission Drift (Lecture 6) 32
Week 6 35
Article 10: The assembly of a field ideology: An idea-centric perspective on systematic
power in impact investing (Hehenberger et al., 2019) 35
Abstract 35
Summary of Institutional Dynamics: Introducing Field Ideology 35
Conclusion 36
Article 11: On the Discursive Construction of Social Entrepreneurship in Pitch
Situations: The Intertextual Reproduction of Business and Social Discourse by
Presenters and Their Audience (Kreutzer, 2022) 38
Pitching in Social Entrepreneurship 38
Key Findings 39
Key Findings 40
Impact Investing and Pitching (Lecture 7) 41
1
,Week 1
Introduction (Lecture 1)
This lecture talked about the article stated below. It talked about the most important parts of
the article and some key takeaways from the article.
Article 1: The New Field of Sustainable Entrepreneurship
(Shepard & Patzelt, 2011)
Abstract
Informed by the literature on sustainable development and entrepreneurship, we offer the
following definition: Sustainable entrepreneurship focuses on the preservation of nature, life
support systems, and community in the pursuit of perceived opportunities to create future
products, processes, and services for gain, where gain is broadly construed to include both
economic and non-economic benefits for individuals, the economy, and society.
A Definition of Sustainable Entrepreneurship
The literature on sustainable development highlights two key areas: what should be sustained
(nature, life support systems, and communities) and what should be developed (individuals, the
economy, and society).
What is to be Sustained in Sustainable Entrepreneurship?
Nature: The text emphasises the importance of preserving nature, biodiversity, and
ecosystems, which are not only essential for life but also have intrinsic value. The loss
of natural resources threatens the life of many species, including humans, as
evidenced by the destruction of the ozone layer and its impact on public health.
Research on sustainable entrepreneurship is needed to understand how
entrepreneurial action can contribute to the preservation of nature.
Life support systems: involve preserving the environment as a key source of resources
and services essential for human survival. If environmental systems are not
maintained, human life support can be severely compromised. Issues such as water
pollution, overexploitation of resources, and declining ecosystem services have
already had significant impacts, including increased health risks and reduced
availability of clean water and fertile soil. Research in sustainable entrepreneurship
2
, could provide insights into how entrepreneurial actions can help maintain these crucial
environmental systems.
Communities: Communities consist of individuals connected by shared values, norms,
and identity, and are defined by their culture, groups, and places. Culture plays a crucial
role in community identity, and losing it can harm personal well-being, as seen with
increased alcoholism and reduced health in affected groups. Families and groups are
also vital for community development and personal identity, with family disintegration
leading to reduced social responsibility and individual well-being. Places serve as
symbols of culture and history, offering a sense of identity but are sometimes
threatened by tourism and pollution.
Recent studies suggest that entrepreneurial actions can help sustain communities.
For example, community-based enterprises, which integrate culture and capital with
economic goals, can reduce poverty and preserve the environment. The Navajo
Nation's venture into green building products exemplifies how entrepreneurship can
enhance economic, social, environmental, and cultural values.
What is to be Developed in Sustainable Entrepreneurship?
While economic profit is central to the definition of entrepreneurship (Venkataraman, 1997),
sustainable entrepreneurship also emphasises non-economic outcomes, such as gains to
people and society, as important development goals. The balance between economic and
non-economic gains varies across individuals and organisations. Some sustainable
entrepreneurs may prioritise financial viability, while others may be more focused on
generating personal economic profit. This variation highlights the differing motivations within
sustainable entrepreneurship.
Economic: highlights the importance of generating economic gains for individuals and
society. These gains can improve socioeconomic status and lead to better emotional,
psychological, and physical health. The benefits of economic development extend
across generations, enhancing childhood well-being and adult socioeconomic status.
Increased economic development in countries also boosts subjective well-being and
physical health. Thus, economic gains are often seen as a positive outcome of
entrepreneurship, and when combined with sustainability goals, they align with the
concept of sustainable entrepreneurship.
Individuals: Non-economic gains that benefit individuals include improvements in
child survival, life expectancy, education, equity, and equal opportunity. For instance,
3
Summary 2024/2025
Table of contents
Week 1 2
Introduction (Lecture 1) 2
Article 1: The New Field of Sustainable Entrepreneurship (Shepard & Patzelt, 2011) 2
Abstract 2
A Definition of Sustainable Entrepreneurship 2
Identifying an environmental problem (Lecture 2) 5
Article 2: Market imperfections, opportunity and sustainable entrepreneurship. (Cohen
& Winn, 2007) 5
Abstract 5
Market imperfections 6
Week 2 9
Guest lecture Sander Fleuren (Lecture 3) 9
Dr. Ackoff on system thinking 9
Tackling symptoms and root causes 9
Main contents 9
Emerging Social Enterprise tendencies 10
System thinking for businesses 10
Article 3: Complexity and Transition Management (Rotmans & Lorbach, 2009) 11
Complex Systems Theory Overview: 11
Managing Complex, Adaptive Systems Overview: 12
Transition Management Framework 13
Week 3 14
Article 4: Six ways to build circular business models (Bocken & Ritala, 2018) 14
Introduction 14
What are the feasible resource and innovation strategies? 14
Article 5: Experimenting with a circular business model: Lessons from eight cases
(Bocken & Kraaijenhagen, 2021) 16
Abstract 16
Literature 16
Research methods 17
Results 18
Guest lecture Christiaan Kraaijenhagen (Lecture 4) 19
Barriers for sustainable buying 19
Week 4 21
Article 6 Towards regenerative business models: A necessary shift? (Konietzko et al.,
2023) 21
Introduction 21
, Methods 21
Results 21
Regenerative business model framework 22
Article 7: Scaling for Social Enterprise Development: A Mixed Embeddedness
Perspective on Two Dutch Non-Profit Organisations (Verver et al., 2024) 24
Abstract 24
Literature 24
Research design and methodology 25
Conclusion and implications 25
Article 8: ‘Changing the System’: Compensatory versus Transformative Social
Entrepreneurship (Newey, 2017) 26
Abstract 26
Alter-globalisation movement 26
Compensatory Social Entrepreneurship (CSE) 26
System Change Limits of Compensatory Social Entrepreneurship (CSE): 27
Transformative Social Entrepreneurship (TSE): 28
Regenerative business models (Lecture 5) 29
Week 5 30
Article 9: How to stay on the road? A business model perspective on mission drift in
social purpose organisations (Klein et al., 2021) 30
Abstract 30
Social Purpose Organizations (SPOs) and Business Model Innovation (BMI) 30
Results 31
Measuring Impact and Mission Drift (Lecture 6) 32
Week 6 35
Article 10: The assembly of a field ideology: An idea-centric perspective on systematic
power in impact investing (Hehenberger et al., 2019) 35
Abstract 35
Summary of Institutional Dynamics: Introducing Field Ideology 35
Conclusion 36
Article 11: On the Discursive Construction of Social Entrepreneurship in Pitch
Situations: The Intertextual Reproduction of Business and Social Discourse by
Presenters and Their Audience (Kreutzer, 2022) 38
Pitching in Social Entrepreneurship 38
Key Findings 39
Key Findings 40
Impact Investing and Pitching (Lecture 7) 41
1
,Week 1
Introduction (Lecture 1)
This lecture talked about the article stated below. It talked about the most important parts of
the article and some key takeaways from the article.
Article 1: The New Field of Sustainable Entrepreneurship
(Shepard & Patzelt, 2011)
Abstract
Informed by the literature on sustainable development and entrepreneurship, we offer the
following definition: Sustainable entrepreneurship focuses on the preservation of nature, life
support systems, and community in the pursuit of perceived opportunities to create future
products, processes, and services for gain, where gain is broadly construed to include both
economic and non-economic benefits for individuals, the economy, and society.
A Definition of Sustainable Entrepreneurship
The literature on sustainable development highlights two key areas: what should be sustained
(nature, life support systems, and communities) and what should be developed (individuals, the
economy, and society).
What is to be Sustained in Sustainable Entrepreneurship?
Nature: The text emphasises the importance of preserving nature, biodiversity, and
ecosystems, which are not only essential for life but also have intrinsic value. The loss
of natural resources threatens the life of many species, including humans, as
evidenced by the destruction of the ozone layer and its impact on public health.
Research on sustainable entrepreneurship is needed to understand how
entrepreneurial action can contribute to the preservation of nature.
Life support systems: involve preserving the environment as a key source of resources
and services essential for human survival. If environmental systems are not
maintained, human life support can be severely compromised. Issues such as water
pollution, overexploitation of resources, and declining ecosystem services have
already had significant impacts, including increased health risks and reduced
availability of clean water and fertile soil. Research in sustainable entrepreneurship
2
, could provide insights into how entrepreneurial actions can help maintain these crucial
environmental systems.
Communities: Communities consist of individuals connected by shared values, norms,
and identity, and are defined by their culture, groups, and places. Culture plays a crucial
role in community identity, and losing it can harm personal well-being, as seen with
increased alcoholism and reduced health in affected groups. Families and groups are
also vital for community development and personal identity, with family disintegration
leading to reduced social responsibility and individual well-being. Places serve as
symbols of culture and history, offering a sense of identity but are sometimes
threatened by tourism and pollution.
Recent studies suggest that entrepreneurial actions can help sustain communities.
For example, community-based enterprises, which integrate culture and capital with
economic goals, can reduce poverty and preserve the environment. The Navajo
Nation's venture into green building products exemplifies how entrepreneurship can
enhance economic, social, environmental, and cultural values.
What is to be Developed in Sustainable Entrepreneurship?
While economic profit is central to the definition of entrepreneurship (Venkataraman, 1997),
sustainable entrepreneurship also emphasises non-economic outcomes, such as gains to
people and society, as important development goals. The balance between economic and
non-economic gains varies across individuals and organisations. Some sustainable
entrepreneurs may prioritise financial viability, while others may be more focused on
generating personal economic profit. This variation highlights the differing motivations within
sustainable entrepreneurship.
Economic: highlights the importance of generating economic gains for individuals and
society. These gains can improve socioeconomic status and lead to better emotional,
psychological, and physical health. The benefits of economic development extend
across generations, enhancing childhood well-being and adult socioeconomic status.
Increased economic development in countries also boosts subjective well-being and
physical health. Thus, economic gains are often seen as a positive outcome of
entrepreneurship, and when combined with sustainability goals, they align with the
concept of sustainable entrepreneurship.
Individuals: Non-economic gains that benefit individuals include improvements in
child survival, life expectancy, education, equity, and equal opportunity. For instance,
3
