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Chapter 16
Sustainability and Economy:
A Paradigm for Managing
Entrepreneurship Towards
Sustainable Development

Edisson Armando Tarupi Montenegro

https://orcid.org/0000-0002-4069-775X
Fundación Universitaria del Área Andina, Colombia

ABSTRACT
The economy and the environment imply various decisions related to the exploitation, production, dis-
tribution, and consumption that affect the organizational environment, and indirectly promote a rational
behavior in favor of environmental, social, and economic sustainability, although the social connotations
about nature-society relations, from education based on sustainable development, the human being is
integrated into the social and ecological ecosystem. And sustainability starts from multidimensional
research with a theoretical framework that allows describing the contributions of social sciences and
sustainability to incorporate ecological processes as a change of economic, social, and sustainable
paradigm within entrepreneurship to contribute to the quality of life. In conclusion, assuming changes
from the economy and sustainability are aspects that support multidimensionality in creating value for
society and allow us to meet needs in a creative way that recognizes the objectives of sustainable devel-
opment, through ventures aimed at influencing conservation environments.

INTRODUCTION

The economy is a social science that, within the administrative process, models the behavior of the
organization in the face of the efficient allocation of scarce resources, and thereby expands its field of
study without changing its conceptual framework, for which it develops the ability to understand and sat-
isfactorily resolve the discussion on sustainability and efficient use of natural resources (Aguilera, 1991).

DOI: 10.4018/978-1-7998-4909-4.ch016

Copyright © 2021, IGI Global. Copying or distributing in print or electronic forms without written permission of IGI Global is prohibited.
 
Sustainability and Economy

In other words, it is not only about intensifying the economic benefit of the activity or business but
also understanding and addressing the environmental problems derived from the decisions made by
economic agents in the face of the limited resources offered by the environment, improving their use
while thinking more in sustainable economic-administrative activities to adapt to the environment and
the availability of natural resources, that is, to the functioning and limits of ecosystems.
For this, the analysis of the social, economic and environmental dimensions postulated by Sustainable
Development together with the paradigm shift of the economy from the environmental to the ecological
represent a true option that forms awareness towards environmental inclusion and sustainable human
behavior. as part of the social and ecological ecosystem in decision making.
The objective of this article is to support the contribution of sustainability to support paradigm shifts
in the economy to manage entrepreneurship. That is, the inclusion from the sustainability component
that educates on the environmental, ecological to rethink a social change supported for example in the
objectives that Sustainable Development provides.
The analysis between the environmental and ecological economics shows that the economy as a social
science contributes from its fields: environmental as a field that appears as a result of an approach of the
conventional economy to the aspects of the environment, but without greater integrating and without
penetrating into the foundations of ecological science. Not so, the approach of the economy-ecology
relationship is more in line with the paradigm of sustainability and global sustainable development under
the interaction of the Sustainable Development Goals - SDGs and the postulates of the ecological and
circular economy.
For its part, entrepreneurship arises as a response from entrepreneurs and / or entrepreneurs who, in
response to the growing needs of the market, attend to the tastes and preferences of the consumer, which
undoubtedly causes impacts on the environment, so it is urgent and necessary that Your startup business
ideas are supported by the inclusion of the environmental dimension that promotes sustainability
In this sense, the sustainability sciences backed by sustainable development add value to the busi-
ness idea and strengthen entrepreneurship once theoretical considerations are recognized and integrated
into the practice of creating sustainable companies under the guidelines of sustainable development, the
incorporation of the Sustainable Development Goals and environmental awareness regarding the care
and conservation of natural resources, ecosystems and their environmental services as inputs for value
creation.
This chapter is completed with the development of 5 parts beginning with the first in which the
introduction is developed to address the contribution of sustainability to entrepreneurship and in the
second with the analysis and description of the review of the relevant literature that allows us to delve
deeper On the theoretical and conceptual contribution of sustainability to entrepreneurship and compa-
nies in general, in the third part, the qualitative methodology is established to theoretically support the
contributions and relationships that exist between the economy, entrepreneurship and sustainability and
finally they are presented.
The conclusions and recommendations that make it possible to establish not only the relationships,
links, but also those relevant characteristics that support the inclusion of sustainability in entrepreneurship
and the generation of sustainability value through the adoption of the Sustainable Development Goals
in the sustainable strategy of the company. And in addition, recommend that future research work with
cases that demonstrate the ownership of sustainability in their companies. And finally the bibliographic
references are shown.

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LITERATURE REVIEW

The literature review suggests the appropriation and relationship with the crucial aspects of the classic
elements of the economy and the science of sustainability for a paradigm shift that leads to a social,
economic and environmentally accepted undertaking by the community.

The Economy

The birth of the classical school with economic thought pointed out the preponderant role of natural
resources, which with the productivity of work become the growth factors, evidencing at the same time
the concern to maintain environmental resources, goods and services as for example, water from a long-
term perspective, but not from its depletion.
David Ricardo (1817), at the beginning of the 19th century, develops his work, in the historical con-
text of the English industrial revolution, emphasizes the analysis of the laws of the distribution of the
products of the land: wages, rents and benefits. It defines the product of the land as everything that is
obtained from its surface through the reproduction of labor, the use of machinery and the value of capital.
And it will be distributed depending mainly on the real fertility of the soil, the accumulation of capital
and the population, as well as, for example, the ability, ingenuity and instruments used in agriculture
(Moreno & Duarte, 2006) .
In other words, for Ricardo what generates value is not the intrinsic characteristics of natural re-
sources but the productivity they generate when exploiting them. It is clear that in this historical epoch
the effects of anthropic activities on the environment were not glimpsed because natural resources were
“indestructible”, now we know that they are not destroyed but only transformed and in that process the
degree of quantity and environmental quality of production inputs.
For his part, Thomas Robert Malthus (1987) in one of his main works “An Essay on the Principle
of Population” says that the population tends to grow in a greater progression than the progression of
food subsistence.
Summarizing the thought of the classical school and the theory of value, they are related to the non-
assignment of (exchange) value and the environment, since it is not considered a commodity, it is not
traded in the market and it does not have a price. In this sense, and based on the existing “cultural model”
of the time, the theory reasons in terms of the reproduction of the capital necessary for the development
of production processes, where the price must cover the costs to produce a commodity and replace the
factors that have participated in producing it. This reproduction is only limited to market factors since
natural factors are considered unalterable and indestructible.
On the other hand, the neoclassicals consider economics as a science that studies human choice and
behavior against scarce ends and means. Assuming the economic system, the institutional order, prefer-
ences and needs, the state of technology and, the state and functioning of ecosystems, the generally stable
environment, with the purpose that society tries to maximize: by On the other hand, the well-being of
individuals and, on the other hand, the profits of companies, that is, better quality of life, particularly
considering welfare judgments.
For his part, in the Marxist school (1848) the human being is a social producer of his means of sub-
sistence. Social production implies certain social relations whose character will depend on the degree of
development of the productive forces of society. Regarding the value of some environmental resources,
since they are not considered merchandise, since they do not originate with human labor and are not

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traded in the market, they are not assigned any exchange value. In this regard, he points out that “... a
thing can be use value without being value. For this it is enough that it be useful to the human being
without coming from his work. Such are the air, natural grasslands, virgin soil, etc. ” (p. 18)
Currently we can affirm that economic growth and development are related to the increase in produc-
tion and consumption. Said production is the result of the combination of the productive factors (land,
capital and, labor) from which natural resources are relevant inputs of the productive processes, and the
somewhat excessive and irrational consumption of the resources simultaneously causes externalities or
negative impacts. that are evidenced by the contamination, the poor quality of food, the degradation of
ecosystems, the loss of natural resources and the environmental quality in general. (Moreno & Duarte,
2006).
In this context, the components of the administrative process of planning, organization, direction and
control permeate organizational behavior from the economic, social and environmental aspects, depend-
ing on a natural resource base that is degrading dramatically, however, the reduction in consumption or
responsible consumption, and waste management with minimization of waste creates new opportunities
for companies to grow through the introduction of efficient processes that efficiently take advantage
of goods and services in careful compliance with the sustainable development goals to eradicate the
environmental impact on the environment.

Education for Sustainability

In the last 2 decades, given the magnitude of the boom in needs and with it the implementation of ventures
with innovation and a cultural component that inevitably also causes an environmental impact, which
questions national accounting for concentrating only on market transactions and overvaluing goods and
services created by human activities, ignoring the costs of externalities (Mankiw, 2002), the provision,
degradation and loss of environmental services due to the inefficient use of the environment in produc-
tion processes, consumption and distribution.
In this sense, UNESCO postulates environmental education (EA) as a first expression of sustain-
ability based on education for sustainable development, which recognizes the inseparable link between
economic development, the conservation of natural resources and the equitable distribution of themselves
in society, for both today’s and tomorrow’s generations.
Thus, since 2002, with the endorsement of the General Assembly of the United Nations, the Decade
of Education for Sustainable Development - DEDS, which deals with the satisfactory status of the three
areas of sustainability: environment, society and economy, has been adopted. provide capacities to citi-
zens with a view to decision-making from the generation of business ideas that lead to entrepreneurship,
to address the problem at the community level, social tolerance, environmental philosophy, innovation
and adaptation of the workforce to creating value in companies for quality of life.
However, to all of the above is added the growth of consumption, as an expression of satisfying needs
under social preferences whose accounting is reflected in measures of economic growth and develop-
ment, as well as, unfortunately, the degradation of the environment and of natural resources, expressing
itself in the extinction or exhaustion of production inputs.
In addition, the population grows, along with it, the extension of human settlements and industrializa-
tion causing higher levels of contamination in the natural physical environment as a consequence of the
appearance of new needs and, in parallel, a greater generation of waste in a limited space, or a inequitable
and unjust development without consideration of the environment or its functions, which highlights the

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need to transform entrepreneurship, the creation of companies so that they are more sustainable and
better planned with the support of economic and administrative science than in these same 2 decades it
has scarcely included in the organizational mission the purely economic paradigm at the expense of the
environmental, ecological and social.
Economic growth as a measure of well-being in itself causes environmental, ecosystem and ecosystem
services degradation. Therefore, we must harmonize development and growth with environmental sus-
tainability, incorporating cost-effective measures within the creation of companies for the development
of a green, inclusive and more efficient market in the internalization of market failures or externalities.
According to the proposal of Coase (1960) as a first approach to manage environmental problems and
not generate transaction costs in order to re-establish, sustain the value proposition of companies and
protect natural systems in the context of sustainability.
In the same way and as proposed by UNESCO in its strategy for the decade of education for sustain-
able development in this chapter, the aim is to rescue through awareness and social acceptance that:

“Education for sustainable development is perceived as a learning process to make decisions that take
into account the long-term future of the economy, ecology and equity of all communities. Creating com-
panies with the capacity to foresee the future constitutes the main mission of education and training of
administrators “(Gamo & Morales, 2013, p. 9)

It is not obvious that sustainable development is perceived even as a process that will improve the
economy, society and the environment without first taking place a process of inclusion of this education
directed by public, private and third sector organizations as part of the task. voluntary and consensual
social program to achieve well-being and sustainability of business models, ventures, companies and
ecosystems.
This is how the initiative of the B companies arises, in Colombia, which promote a marked concern
for the collaborators in their organizations, as well as for the care of the environment, orienting their
purposes towards human development within a paradigm shift that inspires economic growth with eq-
uity, justice, inclusion, circularity, dignity and ethics, typical of the organizational culture of humanistic
management. (Largacha, 2017)
Furthermore, this paradigm shift requires the participation of all countries in the educational plan
promoted by UNESCO, as well as the balanced achievement proposed by the United Nations in the 2030
Agenda with the promotion and inclusion of the 17 Sustainable Development Goals - SDGs. and the
169 goals (United Nations, 2019) within the sustainability reports to guarantee both the sustainability
of companies and the conservation of the environment and human well-being.
Hence, for example in Colombia, the private sector contributes to corporate sustainability, imple-
menting the SDGs that have allowed it to change its socio-financial role to one that is more active and
committed to communities, governments and stakeholders to promote sustainable development. Thus, the
sustainable development goals become a common language, a global framework to contribute to sustain-
ability and for companies to align and contribute to society and the environment (United Nations, 2018).
Incorporate knowledge based on the principles of sustainable development in socio-economic poli-
cies that support national ventures in order to reduce the loss of environmental resources, considering
that we can all contribute to reducing the generation of waste by rethink environmental services as ben-
efits that are part of the well-being of society and that for their social recognition are supported by the
principles of conservation, use and maintenance of biodiversity conferred by sustainable organizations

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from the proposal and value chain for legitimize organizations and recognize the value they generate
for entrepreneurship.
In this sense, environmental inclusion through the Ecological Economy has anticipated this call in 3
decades to work on the environment and economic growth links. Thus, it is presented within an open,
innovative and flexible entrepreneurial concept to the changes that take place in the organizational and
cultural context, understood as a project to be investigated, in which entrepreneurs can develop their
skills and relate them from the business plan with creative knowledge and innovative experiences to solve
economic, social and environmental “problems” associated with the growing needs of the consumer, the
market and the global economy (García-Díaz, 2000 cited in Perales & Cañal de León, 2000).
The idea is and will continue to be to place the individual at the heart of the organization in the face
of environmental reality in order to promote solutions and react coherently to the changes and effects
caused by the company to the environment at local, national and global levels, so that they are truly
compensated by all the agents in the global economy.

Environmental to Ecological Posture Change

Many economists agree that Pigou and Coase, although not interested in environmental issues, lay the
conceptual foundation for the discussion of what has been viewed as environmental economics. With an
idea that currently promotes sustainable intragenerational consumption in a market economy that selects
products and processes with cultural, environmental and economic criteria
For its part, sustainable development provides an alternative to the social, economic and environmental
crises caused by an orthodox and merely economic rationality away from environmental rationality with
the progressive loss of confidence in decision-making from the economic and social point of view. The
evolution of these paradigms reflects changes in environmental perception from a concern expressed by
the environmental economy about the externalities of economic growth, to interest in issues of diversity
and cultural and natural integrity, sustainability and intergenerational rights, leading to new conception
towards ecological economics.
In this order of ideas, as part of a theoretical framework, environmental economics can be defined as
the application of economic principles to the study of the management of environmental resources within
the enterprise, also as a branch of economics that studies the how and why the decisions of individuals
affect the natural environment and identify actions to respect humans and the ecosystem (Field, 1996).
Its field of action is limited to the study of the waste flow generated by the production-consumption
system and its impacts on nature (Chavarro & Quintero, 2006).
Thus, environmental economics enters into the gear of economic science as the tool that allows the
economic problem to be harmonized with the normal functioning of the ecosystem. However, this is not
the case of ecological economics which is not subordinated to economics or ecology; According to one
of its first thinkers, ecological economics is an integrating synthesis of both (Constanza R., 1994), that
is, it is transdisciplinary and holistic because “it tries to encompass the relationships between ecological
and economic systems (Daly & Farley, 2004)
Hence, I consider the contribution of environmental education to entrepreneurship to be very broad
since it not only identifies the contributions of the environmental and ecological paradigms in favor of
sustainability, but also for the proper application of economic instruments that are part of the future.
behavior modeled by the social sciences such as circular economy in complement with environmental
sciences from environmental philosophy and ecological rationality to rethink a paradigm shift that con-

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siders the ecological aspects of operation and regeneration in economic processes or activities, starting
from the ecological economy to the green and circular economy.
Thus, it is essential to recognize the inclusion made by the ecological economy of these inputs or
raw materials and environmental services in a more equitable clean production process to conserve
and encourage environmentally friendly processes and the environmental services associated with each
ecosystem for its possible social, economic and environmental assessment

Circular Economy

On the side of the circular economy it is interrelated with sustainability, since its purpose is to maintain
the process, materials and resources in the productive cycle of the economy for as long as possible, that
is, it favors the reduction of the generation of waste. In other words, it is a shift towards a new non-linear
economy that takes up the principles of industrial ecology to close the life cycle of products, services,
waste, materials, water and energy.
The challenge is to transform the linear economy model by circulating throughout the materialization
of the value proposition to stay from entrepreneurship and throughout its supply chain, including those
inputs that result from a different production process in a new process from the recycling consents to
guarantee the satisfaction of more needs with an input of production.
Thus, the role of the circular economy is to promote the use of renewable, recyclable or biodegrad-
able inputs as substitutes for the least usable. So that in this way the companies apply the circular model
of the supply chain on the one hand to produce for their own company, and on the other hand, for other
operations in a scope to the industrial symbiosis that recognizes the environmental impacts throughout
of the product life cycle integrating them from the enterprise.
The European Union defines the circular economy as one in which “the value of the products and the
materials it keeps so time like may be possible. It is minimized the use of resources and the generation
waste and when a product reaches the end of its useful life, it is used again for create more value. This
can provide huge benefits economic, contributing to innovation, growth and the creation of employment”
(EU, 2015 cited in Kowszyk & Maher, 2018, p. 27)
According to the Organization for Economic Cooperation and Development - OECD (2011) by pro-
moting economic growth and development and at the same time ensuring that natural assets continue to
provide the environmental resources and services on which our well-being depends, leads us to green
growth Sustainable Development
Development is an idea of ​​a better quality of life, if we see it from the side of the economic sciences
that measure the degree of production of goods and services as availability to meet needs, and from
this derives a human development that increases with investment in human capital, education, health
and other characteristics that differentiate it, through which differences are established that segment the
world in developed and developing countries.
Notwithstanding the social reality that supports sustainable development requires the availability we
have as a society to contribute to our own sustainable development, but essentially the willingness to
generate ventures that contribute to that positive change in favor of the quality of life with social equity,
economic viability and environmental quality.
A shared definition of sustainable development is that which emerges from the Brundland report
in 1987 “Our common future” in which we are talking about that development that meets the needs of
current generations without compromising the possibility that future generations can meet their own

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needs Definition that has been representing the sustainability paradigm and since the Rio Declaration
of 1992 until today, governments are determined to adapt and translate into national and international
policies, which in turn promote the United Nations through the objectives of sustainable development
For the good living.

Table 1. Sustainable development goals

N°. Objectives
1 End poverty in all its forms throughout the world.
2 End hunger, achieve food security and improved nutrition and promote sustainable agriculture.
3 Ensure a healthy life and promote well-being for all at all ages.
4 Ensure inclusive, equitable and quality education and promote lifelong learning opportunities for all.
5 Achieve gender equality and the empowerment of all women and girls.
6 Guarantee the availability of water and its sustainable management and sanitation for all.
7 Ensure access to affordable, safe, sustainable and modern energy for all.
8 Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.
9 Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation.
10 Reduce inequality in and between countries.
11 Make cities and human settlements inclusive, safe, resilient and sustainable.
12 Guarantee sustainable consumption and production modalities.
13 Take urgent measures to combat climate change and its effects1
14 Conserve and sustainably use the oceans, seas and marine resources for sustainable development.
Protect, restore and promote the sustainable use of terrestrial ecosystems, carry out sustainable forest management, fight
15
desertification, stop and reverse land degradation and curb the loss of biological diversity.
Promote peaceful and inclusive societies for sustainable development, facilitate access to justice for all and create
16
effective, accountable and inclusive institutions at all levels
17 Strengthen the means of implementation and revitalize the global partnership for sustainable development
Source: Done by the Author from UN SDG Report (2014)

Table 1 shows that in its entirety the sustainable development goals -ODS- promote the well-being
of society as a consequence of the care and conservation of natural resources.
Especially those objectives that support and support the approaches of sustainability in enterprises in
terms of the guarantees that society has for a healthy life and the promotion of social welfare. In addition,
promote the inclusion of society in productive processes and sustainable consumption to ensure that
societies and enterprises have characteristics that make them supportive, safe, resilient and sustainable.
For which it is necessary to adopt urgent measures to reduce the consumption that generates waste
whose disposition generates greenhouse gases and some motivate society to adopt and behave in a way
that contributes to combat the problems associated with the environment in each enterprise., such as
climate change and its effects through conservation and protection, restoration and promotion of the
sustainable use of ecosystems and their environmental services.

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Sustainability

According to Constanza (1994), sustainability is the amount of consumption that can be maintained
indefinitely without degrading capital stocks, including natural capital stocks.
Sustainability from sustainable development is shown as a strategy to respond to complex environ-
mental problems. However, the multidimensional characteristics to concretize this concept in a holistic
way that integrates and objectively generalizes the actions and processes both in the scientific field and
in that of the political-administrative action, from the transdisciplinary research perspective with a sys-
temic perspective, have not been still incorporated from social, economic and environmental analysis to
integrate their relationships (Riechmann, 2019)..
In this sense, Jimenez Herrero (2002) emphasizes that sustainability and sustainable development,
conceptually and strategically, are better understood as processes of change, adaptation, self-organization
and permanent balances to adjust the relations of ecological, economic and social systems within of a
global and unique system that postulates ventures with innovation to meet needs.
Stressing that in this joint evolution between the economic, social and environmental systems, aspects
of hierarchy, uncertainty and ignorance intervene that are linked to other ethical and cultural consider-
ations inherent in the very substance of sustainability within organizations and entrepreneurs.
For example, the objective of sustainable development 6: clean water and sanitation promotes the
reduction of the proportion of people without sustainable access to drinking water and basic sanitation
services, referring to the quality of these vital services that are also related to treatment, generation and
disposal of waste suitable for the care of ecosystems and their environmental services in the long term.
For its part, the objective of sustainable development 11 (Sustainable Cities and Communities) pos-
tulates the improvement of the quality of life of at least 100 million inhabitants of slums, especially in
large cities, precisely the places where quality is established Environmental and care of natural resources.
Therefore, from the undergraduate and postgraduate academies teaching methodologies based on
systemic vision of the environment are developed, as a necessary condition for work, study, analysis
and solution of situations, phenomena and problems, from a holistic and thorough perspective, allowing
rediscover knowledge and develop an entrepreneurial culture according to each social and environmental
reality of the country (Boada & Escalona, 2005).
With this, the institutions can form competent individuals in environmental matters within the three
approaches in a true transfer and construction of knowledge (Novo, 2009) to integrate both the theory
and the practice of sustainability in all aspects of school education and out of school, at all levels to
advance the desired education for sustainability, thus supporting
To SDG No. 4 quality education, allowing internalized knowledge, attitudes and competences to flow
in the people involved towards the entrepreneurship process, maintaining the conception of sustainable
development without falling into the crisis of ethical and human values.
The use of Information and Communication Technologies (ICTs) called the fourth power within the
innovation process, as a first order tool applied to the economy and environmental education so that
Sustainability is a reality with the participation and training of all entrepreneurs and entrepreneurs on
issues that facilitate them to integrate environmental issues into the economic and social analysis of their
company (Ojeda & Perales, 2008).
Likewise, López, López, Guzmán, López, & Rodríguez (2011) propose that the environmental di-
mension for sustainability makes us aware of the phenomena that are occurring in nature, therefore we
do not have to wait for a disaster to take place. . In that sense, environmental awareness prevents the

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problems that we can face in the intervention of man with the natural environment. In full agreement
with the above, it is required that the assimilation of the concepts at all organizational levels must be
carried out to a real commitment and at the three levels proposed by sustainable, economic, social and
ecological development.

Entrepreneurship

Entrepreneurship is the process of realization of opportunities with a creative approach, it is also an

important factor for economic development and with it an engine of change and innovation of the en-
trepreneur (GEM-Colombia, 2018).
The entrepreneur develops factors focused on motivation, achievement, independence and creativ-
ity among other factors that activate entrepreneurial approaches with their environment, economy or
country in a sustainable way. Hence, the mixture of social, environmental, cultural, family, labor factors
that interact in their worldview enhance these skills. Both must exist for this entrepreneurial character
to be given (Marulanda Montoya, Correa Calle, & Mejía Mejía, 2009).
According to Reynolds, Bosma, Autio, Hunt, De Bono, Servais, López-García and Chin define entre-
preneurship as creating something new, from the attempt to create companies or self-employment, a new
business organization or the expansion of a existing business, either of an individual, of a team of people.
In the same way Amabile (1996) proposes three components that include all the factors that contribute
to creativity: dexterity, creative abilities, intrinsic motivation of the task, as shown in Graph 2.
Skill-knowledge: understood as the basis of all creative work, whose essence includes a memory of
the known facts, technical competence and special talents of the object to work.
Creative skills or creative thoughts: associated with positive thinking, perhaps from lateral thinking,
to retake the perspective or problem in favor of the application of techniques or schemes for the explora-
tion of new ways of thinking oriented towards achievement and the solution of needs.
Intrinsic motivation of the task: it is a complement to the previous components since they refer to
what is done based on the skill, the ability of what he knows, that is, acting in the current social reality,
for a part, intrinsically that they relate to personal interests and which are involved in work, curiosity,
fun or feelings of social change. And, on the other hand, the extrinsic motivations that are guided by
the desire to achieve a goal that departs from their own work, such as achieving a promised reward or
winning a contest.

METHODOLOGY

With a qualitative approach, in which it is intended to base the contribution of sustainability to entre-
preneurship as a response to the need to contribute to sustainable development and therefore to well-
being. First, the fundamental concepts that support sustainability are explored, establishing the main
conceptual aspects that relate the economic, social and ecological aspects to entrepreneurship, rescuing
the inclusion of the objectives of sustainable development in organizations, for example, as in those of
the Alliance. of the Pacific, the private sector in Colombia is already showing widespread consideration
for the commitment to sustainability and well-being.
The idea is to base the contribution of sustainability from entrepreneurship so that organizations become
true agents of change and demonstrate their contribution to the care and conservation of the environment,

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its ecosystems, goods and environmental services that in the end that their establishment has an impact
on. in the efficient and conscious use of the inputs of production, consumption and well-being. Thus, the
following question arises that will allow the foundation and recognition of the contribution of sustain-
ability in entrepreneurship and companies. What is the contribution of sustainability to entrepreneur-
ship? starting by identifying paradigm shifts in the economy and from social logic linking sustainability
support and changes in thinking and behavior to include and sustain development in entrepreneurship.
Thus, the theoretical analysis is based on a literature review to substantiate that paradigm changes
from entrepreneurship depend on the implementation and inclusion of the environmental dimension in
the value proposition from the enterprises and organizations, to respond to the postulates of sustain-
able development that correspond to the social sciences, especially the economy and those changes of
environmental, ecological, circular paradigms, so that sustainability is a way of life, and not something
extraordinary, that is, it is part of our ordinary entrepreneurial endeavor without any kind of exceptionality.
From which it follows that economic systems have to adapt to the capacity of ecological systems that
support life and to the evolution of the biosphere. As stated by many precursors of the new ecological
economy Roegen, Daly, Naredo, Constanza, Martinez Alier, Odum, Common, Folaori, Stagl, among
other authors, the application of the laws of nature and circularity in the economy that leads us to a
symbiotic vision of the economic and ecological systems.
According to Macedo and Salgado (2007), this transformation goes from the modification of the
structure, the management, the curricula and in the creation of spaces and a training and learning strategy,
that is, not only a change in content but a change of thought. towards the most sustainable entrepreneur-
ship that begins and ends with inspiring creativity.

RESULTS

The economy and ecology are related through processes of exchange of matter, energy and information.
Therefore, it is necessary to redefine the economic system in response to the multiple dynamic interac-
tions with the rest of the human systems (social, political, institutional) and with the global ecosystem.
In this context, we find that entrepreneurship is based on the economy and the environment, whose
relationships with each other are presented in four ways:

1. The environment and natural resources provide raw material “matter - energy” to the economy.
2. The environment has an assimilative capacity of part of the waste generated by human activities.
3. The environment and natural resources provide society with life support services on the planet /
environmental regulation, provision and cultural services.
4. The environment and natural resources satisfy the demand for environmental amenities, spiritual
and educational aspects.

In addition, it is worth highlighting the fundamental biophysical notions on which the Ecological
Economy is articulated when considering, according to the first law of thermodynamics, that matter and
energy are not created or destroyed, but are only transformed, according to what Previously, the genera-
tion of waste is something inherent in the production and consumption processes that provides viability
in the transition to the circular economy.

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On the other hand, matter and energy continually and irrevocably degrade from an available form to
an unavailable form, or from an ordered form to a disordered form, regardless of whether we use them
or not (Roegen, 1971) according to what confers economic value to the material and energy is its avail-
ability to be used or reused as an input in the process of value creation of companies.
The third notion presents a double aspect: one of them refers to the impossibility of generating more
waste than can be tolerated by the capacity to assimilate ecosystems, under penalty of their destruction
and human life. The other refers to the impossibility of extracting from biological systems more than
what can be considered as their sustainable or renewable performance (Daly, Toward some operational
principles of sustainable development, 1990), otherwise we would end them and, indirectly, with us same.
All this requires a “deep knowledge of the structure and functioning of natural ecosystems, which
are the basis of human life and societies” (Farras, 1980), knowledge that marks the limits, both physical
and conceptual, for example of a lagoon ecosystem, its environmental services and the preservation of
its structure and functions to which human activity and therefore the economy must conform.
Therefore, the biophysical foundations, the ecology itself and on the one hand the economy teach us
that man does not use natural resources in isolation (Toledo, 1985), but uses ecosystems and environ-
mental services, from an appropriation process that has been correctly interpreted by Nogaard (1984)
as a co-evolutionary process. This means that to the extent that the socioeconomic system modifies
bio-ecological systems, it must adapt and create institutions, laws and norms to change behavior with
the ability to understand the effects of modifications on ecosystems, create new knowledge, that allows
you to properly use and care for them (Aguilera & Alcantara, 1994).
The economic analysis of policies and entrepreneurial projects that can impact the natural and en-
vironmental resources base requires serious consideration of the physical and intertemporal aspects
of natural resources to reach economic efficiency and sustainability of resources over time. For which
sustainable development is proposed to prevent entropy from being large enough to the point that human
beings are endangered.
For Daly (2004), (Pérez, 2009) sustainability includes the following elements:

1. Limitation of the human scale to parameters that can be sustained by the ecosystem
2. Technological innovations aimed primarily at improving its efficiency and then devoting itself to
low entropy resources (trans-flows)
3. Renewable resources that do not exceed the replacement capacity
4. Waste emissions that do not exhaust the assimilation capacity of the system
5. Rates of exploitation of non-renewable resources similar to the rates of exploitation of substitute
resources.

To highlight the contributions both the environmental economy and the ecological economy tend
to manage environmental sustainability (Labandeira, Leon, & Vasquez, 2007), as shown by way of
comparison in Table 2, whose regulations call for the creation of companies that apply the norms and
principles that value social, economic, physical, and ecological aspects to make decisions in favor of the
sustainability of the company and the conservation of natural resources and their environmental services,
as well as in the preservation of life in the planet.
In Table 2, the complement between the different approaches to environmental and ecological economics
can be corroborated. In this regard, Costanza (1996) integrates the sustainability of development into the
global system and presupposes the definition of a new economy-ecology relationship in two ways, thus:

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1. Greening the economy, applying ecological principles that allow the economic system to work in
dynamic equilibrium with the systems that support life.
2. Economize on ecology, rescuing the original concept of the “Nature Economy” to refer to business
ecosystems.

Table 2. Sustainability management

Envrionmental Economy Ecological Economy

Monetary and physical evaluation of the environmental impacts derived
from economic activity: reconciliation of economic valuation practices
and thermodynamic laws.
Close link between economic and ecological
systems: long-term compatibility between the
Monetary valuation of
human economy and the environment
environmental problems
Dynamic, “immortal” and multigenerational approach (Georgescu-
Separation between economic and natural
Roegen): maximizing the happiness of present and future humanity
Static approach based on mechanical methods to maximize
Preocupación por la naturaleza física de los
present individual utility
bienes tanto en su escasez como en la
Market building after the towage shortage: damage
renovabilidad de los recursos, nocividad y
assessment based on its evident deterioration
reciclaje de residuos.
Technology as a solution
Technology as an illusion, solution: “spend less.”
Main mechanism of analysis: cost-benefit calculation
Main mechanism of analysis: understandable
according to subjective preferences and exchange values in
social and political negotiation based on
the market
knowledge of the physical variables that affect
Technical progress Replaceability
the future and the quality of available natural
between natural capital and manufactured
resources. Does not completely waive the
monetary valuation
Strong sustainability: sustainable economic process by: substitutability
between natural capitals (renewable and non-renewable): principles of
sustainable development.
Source: Done by the Author based on (Cuerdo & Ramos, 2000)

In conclusion, seek harmony between society, economy and environment in an attempt to undertake
with social responsibility and environmental justice in the raison d’être of companies

Rethinking Sustainability Towards Entrepreneurship

The economic analysis of entrepreneurial policies and projects that can impact the natural and environ-
mental resource base requires serious consideration of the physical and intertemporal aspects of natural
resources in order to achieve economic efficiency and sustainability of resources over time. For which
sustainable development is proposed as a global notion of sustainability.
The promotion of the Sustainable Development Goals from the 2030 agenda in search of well-being
and better quality of life based on the 17 Sustainable development goals, whose initial implication stands
out in the contribution of resources, human, economic, social and environmental for the generation of
value in the enterprises and / or subsequent organizations under the fulfillment of goals that highlight
the positive impact, care and efficient use of the goods and services provided by the environment, for
example environmental services as production inputs in the Creating value for consumers who need to
meet their needs.

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If we recognize the mutual interdependence between the human system and the natural system, we
can understand that sustainable entrepreneurship beyond the economic component implies environmental
protection and social development, with the purpose of generating value, benefit or welfare for society.
Entrepreneurship has become a topic of public and academic agenda, due to its influence on the
economy, whose dynamics depend on business initiatives because they affect aggregate demand, com-
petitiveness and the need to innovate (Rodríguez, 2016, p. 419).
Indeed, entrepreneurship in the academic field configures the entrepreneur within the market that
needs the creation of companies to intervene the economic and social structure; changing the paradigms
from the consumption and satisfaction of needs with innovative goods and services, but that also depend
on the availability of natural resources for their production, and therefore think about the sustainability
not only of those resources but of life same.
According to the vision of Alizo and Escalona (2012), entrepreneurship is a business initiative that
aims to create something, new with value, dedicating time, as well as necessary effort, assuming finan-
cial, psychological and social risks, obtaining the Rewards resulting from satisfaction and economic and
personal independence.
For Vainrub (2005, p. 25 cited by Del Valle, & Martinez, 2018), he conceptualizes entrepreneurship
as the combination of three basic factors:

1. The idea or the opportunity

2. The resources to carry out the idea
3. The entrepreneur who promotes and actually transforms the opportunity.

These three elements are consolidated into an informal or structured plan, resulting in a new business
initiative. In this same context, Alizo and Escalona (2012), state that entrepreneurship consists of all those
individual or collective initiatives with the capacity to identify opportunities, locate, organize means and
resources to apply them to economic, social, sustainable development at the local and regional level.

Sustainable Entrepreneurship

From the position of Rodríguez (2016), sustainable entrepreneurship involves three fundamental terms
such as:

1. Eco entrepreneurship
2. Social entrepreneurship
3. Business entrepreneurship

Firstly, the environment implies clean products, eco-efficiency, sustainable technological develop-
ment, eco-design, which leads to generate responsible business initiatives committed to the environment,
secondly, the social aspect of it has to do with the behavior of companies in social and ethical fields, such
as human talent management, human rights, child labor, gender, discrimination, participation of work-
ers for the benefit of the company, this promotes greater performance in operations making them more
productive because people they feel part of it and their sense of belonging is created; Finally, the third
aspect has to do with the financial results of the company, where management, direction, organization,
planning and control are evidenced to obtain high levels of profitability.

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Additionally, Jackson’s proposal (2009) is incorporated and recognized in his thinking and orientation
towards a sustainable economy who also exposes the tendency to grow to survive in a globalized world.
When we incorporate environmental objectives to reduce pollution based on the carrying capacity of
the environment to assimilate waste and emissions it is important to pay greater attention to the ecologi-
cal limits of economic activity.
The identification of clear resource limits, the issuance and the establishment of reduction targets
within those limits is vital for sustainable entrepreneurship.
On the other hand, environmental taxation under the principle of internalization of social costs caused
by the economic activity of companies (environmental impacts).
That is, more support for the ecological transition in development and thus ensure that development
is sustainable within ecological limits.
On the other hand, so that the economy moves from a micro level to a macro level, tending towards
the development of an ecological macro-economy that explores how entrepreneurs can work under dif-
ferent configurations of consumption, investment, employment and labor productivity, given:

1. Environmental accounts including natural capital and environmental services, ecosystems for an
economy of the future.
2. Investment in jobs, productive assets and infrastructure
3. For economic and ecological recovery, as one of the fundamentals
4. Of a new paradigm of ecological economics, circulating among other paradigms.
5. Ecological investment has clear objectives. For example: the adaptation of Smart buildings - Eco-
constructions with carbon saving measures. Renewable energy technologies: redesigning public
service networks, in particular the electricity network and public transport infrastructure.

With which the status quo of the resources and the protection of the ecosystem is maintained through
the management of environmental sustainability, which decidedly require a change in the social logic to
undertake without engaging in materialistic consumerism or ecologically damaging social participation.
The idea is to reduce the social cost, reviewing the tax structure, better quality of education, non-
discriminatory legislation to measure and improve entrepreneurship and depressed environmental areas.
Strengthening social relationships, prosperity consists in part of our abilities to participate in the life
of society requires that attention be paid to the underlying human and social resources necessary for
environmentally responsible creation and entrepreneurship.
And with the ventures the creation of communities that are resilient to economic shocks, dismantling
of the culture of consumerism that promotes soft skills in order to mitigate and reduce the impacts on
people’s lives within the limits of the global ecosystem.
Always taking into account that the ecosystem is limited, and therefore the economy should also be
limited to the possibilities of the land to offer us natural resources, and with them the various environ-
mental goods and services that are part of the production inputs of the enterprises. that arise anyway to
meet the multiple needs of human consumption.
With which and effectively the present and future entrepreneur is motivated so that starting from
market research or in any of its related thematic fields, he recognizes the investigative work within his
academic and professional training the following basic convictions proposed by Caride (2008) between
which stand out:

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1. Research on the environmental dimension is necessary and inexcusably, it is built in the “socio-
economic” and “environmental” scenarios. This is reflected in conceptual, epistemological,
theoretical, methodological, and academic frameworks, among other aspects of the school system
immersed in socioeconomic reality.
2. Research is an active and decisive component in entrepreneurial practices, it is open, complex, inter
and transdisciplinary, critical, among other characteristics that favor inclusive social practice.
3. The investigative task within the undertaking must be consistent with the principles, objectives,
purposes, conceptions, strategies of conservation of natural resources.
4. There is no entrepreneurship without researchers, without research teams and / or communities
that promote and develop in different contexts, based on socioeconomic realities to improve the
present and future social reality of humanity.

With all the aforementioned, it is necessary to examine with special attention that in any business
model sustainable development contributes to entrepreneurship in order to improve the prospects for
equity and peace in the world. And that the paradigm shifts of the environmental, green, natural resources,
blue, ecological and circular economies play a key role in the social and human development of our
countries, therefore, it is the duty of all those interested in recognizing The environmental dimension in
entrepreneurship contributes from there to the productive transformation that educates us.

CONCLUSION, RECOMMENDATIONS AND FUTURE RESEARCH

It is necessary for current and future society to think in terms of long term and in co-evolution with nature.
That is, addressing the ecological economy for the most sustainable entrepreneurship that highlights the
circular model for the benefit of society in the long term.
Environmental education is in itself a strategy for Sustainable Development, so all entrepreneurship
programs must start from optimistic diagnoses that reflect the potential of subjects, groups, families, and
communities, contemplating not the current state of the environment but its contributions and limita-
tions, within the holistic learning of social, economic and environmental reality, against the well-being
that we want to preserve.
The stimulation of personal, group and social development, as a cultural construction that starts
from entrepreneurship, which requires full awareness among human beings who act in the environment
through shared social activities.
The research, appropriation, recognition and constant learning processes that consist not only in a
simple transmission of concrete knowledge from an expert person to an inexperienced person, but in
the creation of favorable circumstances in which individuals consciously apply knowledge or content,
and investigate, value and create concrete strategies or actions aimed at solving social, economic and
environmental problems that coexist in business practice from the start-up.
From a sustainable perspective, a social change is required that is based on the ecological economy
and incorporates and respects the availability of natural resources, which together with the motivations
and skills of the entrepreneur are consistent with the environmental and organizational environment that
promotes the satisfaction of needs under a circular model.

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On the other hand, it is important to highlight that the motivations that are relevant for sustainability
in organizations and in the environment, make possible the generation of value amid the interdependence
between organizations and the environment, whose stakeholders are the main agents of change in the
current model of sustainable human development.
Likewise, the relevance of the objectives of sustainable development as a contribution to the creation
of value occurs as long as the enterprise is motivated towards environmental care and when organizations
have the responsibility to reduce, mitigate and compensate for the negative impacts of its operation in the
environment, in order to conserve production inputs, their quality, support, availability and regeneration
for the enjoyment of future generations.
In summary, sustainability complements and contributes positively to entrepreneurship, from an
eco-efficient perspective for developing economies. Hence, the contribution of the Sustainable Devel-
opment Goals is highlighted from the responsible and organizational competence for the care of natural
resources, starting from the understanding of the role of entrepreneurship and the entrepreneur at national
and international level.
Furthermore, it can be suggested that the evaluations of ventures include and conclude on the environ-
mental dimension not only because they are more sustainable, but because the contribution of the private
sector and companies must grow, not only to satisfy the company’s goals. but to be more responsible
with the environment and with future generations.
Incorporating the environmental dimension in enterprises and enterprises causes a level of sustain-
ability that results in the creation of responsible, friendly and ecological companies in their production
processes that take care of the life cycle of their goods and services, guaranteeing a better quality of life
for the society.
A final recommendation starts to provide a coherent basis for these policies and help strengthen
the government’s hand in carrying them out. Identifying policy change for all countries and the urgent
need to manage sustainability by developing social, economic and ecological resilience with a sustain-
able economy that is not based on growth in consumption but on participation, capacity development
by investing in the most humane and environmental management of the ecosystems that sustain life to
flourish to the limits of the economy and the environment.
With all the analysis presented, it is evident that society has sufficient theoretical foundation to
contribute from sustainable development to entrepreneurship on the path of sustainability in the short,
medium and long term. On the other hand, social legitimacy favors the application of public policy of
entrepreneurship and innovation that requires an environmental awareness of civil society and local
and national public administration with the participation of entrepreneurs, creatives highlighting their
characterization, changes and improvements. in its economy and quality of life.
For its part, the economy offers useful links to consolidate the change of thought and strengthen the
circularity that conserves natural resources with the ability to recognize the contributions of environ-
mental services in the value proposition of the enterprises and the importance of conserving them for
future generations.
As well as a change is made to the economic and educational paradigm that contribute to social
well-being and promote the environmental quality of production processes through the efficient use of
resources, also recognizing that there is a mutual interdependence that falls on the quality and availability
of natural resources as inputs to the production process, and consequently of environmental services for
which future research should be carried out to account for their contribution to the value chain.

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It is important to carry out research that highlights the social, economic and environmental approaches
and contributions of the sustainable development objectives, which highlight clean energy, responsible
production and consumption, the conservation of ecosystems and the construction of resilient and intel-
ligent cities among other sustainable development goals to maintain a positive impact on the well-being
of human beings and environmental, economic and social sustainability.

RECOMMENDATIONS

Assume the proposal to become more sustainable by promoting and expanding an ecological environ-
mental culture from the training of professionals who recognize the vital support of the environment, its
benefits, limitations and functions through the postulates of sustainability sciences in organizations, as
part of the new proposal for change in the traditional educational model to achieve true human, economic
and sustainable development.
Reconsider that among the best proposals to achieve the protection and conservation of the environ-
ment, they are associated with the inclusion of comprehensive environmental education that permeates
social sensitivity, in the areas of consumption, as well as the social and environmental responsibility
inherent to enterprises and companies. both from the private and public sectors to create incentives that
drive decision-making consistent with human and sustainable development.
Train sustainable enterprises to induce a change of thought based on environmental rationality that
integrates the postulates of both the economy and a social science and sustainability into a single science
that forms and enables society for sustainable development with the decisive and decisive social role
in the application and execution of policies in favor of itself and in the compensation of environmental
limitations.
Advocate, from the creation of new companies, politically speaking so that society initiates social
change, as an active agent within the social and ecological ecosystem, rethinking the environment al-
truistically in relation to future generations and from a sustainable conception to the achievement of
sustainable development objectives to close life cycles of waste, products and inputs.
It will also be necessary to pay greater attention to the contribution based on the fulfillment of the
Sustainable Development Goals as a complementary component with the valuation and participation of
the academy through formative and interdisciplinary research and from society that incorporate sustain-
ability in entrepreneurship to react facing the environmental problem linked to human anthropic behavior.

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ENDNOTE
1
Recognizing that the United Nations Framework Convention on Climate Change is the main inter-
national intergovernmental forum for negotiating the global response to climate change.

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