Conceptualizing the relationship between Spiritual Orientation and Entrepreneurial Orientation in developing sustainable enterprises

Authors

  • E. Wickramasekera Sri Jayewardenepura University, Sri Lanka
  • I. K. Peiris Open Polytechnic of New Zealand
  • R. Ulluwishewa Center for Spirituality in Sustainable Business Management, Sri Jayawardenepura University, Sri Lanka

Abstract

Entrepreneurship has long been considered a critical element that contributes to economic development while encouraging new entry that is led by Entrepreneurial orientation (EO) consisting of the key dimensions of the propensity to act ‘autonomously’, a willingness to ‘innovate’ and ‘take risks’, a tendency to be ‘aggressive’ towards competitors, and ‘proactive’ relative to marketplace opportunities. To outlive and protect the capacity to form esteem over time, firms must keep up a suitable level of EO which has gotten significant conceptual and experimental consideration, speaking to one of the few ranges in enterprise inquire about where a total body of information is creating (Rauch, et al., 2009). Spirituality fortifies entrepreneurs’ commitment to creating their trade, subsequently making strides their efficiency, and empowering adaptability and imagination both in commerce arranging and its usage and will create a pro-social business with a sense of interconnectedness and community. Thus, it is with greater value to understanding the spiritual outputs of entrepreneurs since it made entrepreneurs having greater kindness, fairness, and increased awareness of other employees’ needs making people more ethical in business and improved teamwork creating a positive impact on the triple bottom line of the venture. Spiritual Orientation impacts ‘autonomy’ by providing flexibility for new ideas towards enhanced innovativeness. Competitive aggressiveness is outperformed by advancing the welfare of others with SO. A spiritual entrepreneur would focus on principles, virtues, ethics, values, emotions, wisdom, and intuition promoting proactiveness. As such, spirituality clarifies how business visionaries continue despite challenging situations by expanding their ideas of future-oriented sensemaking. This paper theorizes how a spiritually driven EO will lead to sustainable business ventures that focus on people, profit, and the planet. We assert that entrepreneurs must develop the spiritual maturity to create the right balance of EO dimensions as such, spiritual orientation and entrepreneurial orientation go hand in hand in creating a sustainable organization.

Keywords: Spirituality, Spiritual orientation, Entrepreneurial Orientation, Entrepreneurship, Sustainability

Published

2021-10-01