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Sustainable development, introduction to

sustainability, sustainability as an opportunity in

entrepreneurship

Sustainable development or sustainability is a frequently discussed concept both by the public and
the professional sphere (e.g. Van Marrewijk, 2003; Lamb, 2011; Zadražilová, 201, Kunz
2012). Over the course of industrial and economic development, consideration has not been given
to possible negative impacts, such as air and water pollution, climate change, overpopulation,
migration, poverty, or enormous social inequality (Hummels & Argyrou, 2020). In the 1970s,
however, the concept of sustainable development began to emerge, and environmental scientists

and economists called for limits on growth (e.g. Meadows, 1972) and a stabilization of the state of
the economy (e.g. Daly, 1973).
Although this term is commonly used and utilized by various organizations (Lélé, 1991), it is

challenging to understand it and how it is interpreted (White, 2013). This is because it encompasses
a broad number of topics, which include e.g. climate change, water and air pollution,
overpopulation, poverty or enormous social inequality (Hummels & Argyrou, 2021). Thus, it is
evidently a comprehensive field that is difficult to specify in a unified manner and thus to define.
Perception of this concept is highly influenced by cultural differences between countries and the
economic sector (Webster 1997; Von Wirén-Lehr, 2001).

Milestones in the evolution of sustainable development

There have been various efforts to provide a unified definition of this field and the terms linked to

it. An example of a utilized definition of sustainable development is the one provided by the World
Commission on Environment and Development (1987, p. 16), according to which sustainable
development can be explained as “development that meets the needs of the present without
compromising the ability of future generations to meet their own needs”. Nonetheless, Hummels &
Argyrou (2021) claim that this definition is misleading and that, thanks to it, many enterprises are
wrongly considered to be contributors to sustainable development. For this reason, they
recommend revising the definition. At the same time, the Office of the Government of the Czech
Republic (2017) views this concept as a complex and dynamic system, in which all areas of interest

are interlinked, including economic, social and environmental pillars, and it is crucial to respect their
mutual balance. In a similar manner, scholars such as Kunz (2012) or Van Marrewijk (2003) explain
the concept of sustainability using these three dimensions, their interconnection and mutual
balance.

Sustainable development itself is thus most frequently explained using three possible methods
(Ministry of Regional Development, 2012):

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