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Doha, Qatar: Entrepreneurs with new innovative ideas that would mitigate and curb growing global challenges are needed to drive sustainable change and businesses, a Qatar University professor has said.
Sustainable entrepreneurship has become increasingly important today as consumers become more aware and concerned about sustainability and the impact of several business and consumption habits on the planet.
Speaking on the sidelines of the 6th International Conference 'Entrepreneurship for Sustainability and Impact’ (ESI), Conference Chair and Director of the Center for Entrepreneurship and Organisational Excellence at QU, Prof. Said Elbanna, said, “We have major challenges in our world. These are increasing yearly, and it seems we are not dealing with them correctly.”
“So because of that, we need fresh minds with different and new ideas — we need entrepreneurs because those are the people who usually provide us with new insights. They don’t have to be young people; they might be 60 or 70, which doesn’t matter. These new approaches would help us deal with the challenges we are facing nowadays,” he added.
In 2021, Qatar was ranked ninth on the list of top countries for entrepreneurs according to the National Entrepreneurial Context Index (NECI). According to the report, Qatar’s position is strengthened due to the country’s successful national development strategies, which support and promote new businesses and especially encourage female entrepreneurs.
Prioritising sustainability can help businesses reduce their carbon footprint and minimise waste, resulting in long-term cost savings. Businesses can promote social justice and equality by creating sustainable products and services, improving social welfare and safeguarding a possible green future.
According to Prof. Elbanna, academia and industry need to find a way to bridge the significant gap between research and implementation. He said academic institutions can tackle this challenge by bringing stakeholders, including industry leaders and policymakers, to discuss the challenges in the public or private sectors.
“We need to admit that there is a big gap between what we do in our research and what the business community and public organisations need. They always complain about us and us about them. So, I think one of the best ways to fix this is to sit together and talk, which can help us bridge the gap between academia and the business community. This can help us know the challenges and how we can work to overcome them,” Prof. Elbanna stressed.
With rising populations and shrinking resources, sustainable practices are necessary to meet the demand for food production and security, home building, and healthcare services, especially for poorer countries.
Besides, promoting sustainable entrepreneurship would also ensure the adoption of a circular economy, reducing waste and encouraging the reuse and recycling of materials. Academic institutions have a significant role in this regard, and QU, through the College of Business and Economics, recently launched the MENA Business Schools Alliance for Sustainability.
“Our College of Business and Economics is leading this alliance. It aims to enhance and promote sustainability and sustainable practices in our region. At our college, we are revisiting all curriculum and course curricula to redesign and add the component of sustainability. This is the main focus in our college,” Prof. Elbanna added.
