The paper highlights the importance of resource gathering and nurturing as a method to combat scarcity.
Authors
Rohit Agrawal, Department of Operations Management and Quantitative Techniques, Indian Institute of Management Bodh Gaya, Bodh Gaya, India.
Ashutosh Samadhiya, Jindal Global Business School, OP Jindal Global University, Sonipat, India.
Audrius Banaitis, Department of Construction Management and Real Estate, Vilnius Gediminas Technical University, Vilnius, Lithuania.
Anil Kumar, Guildhall School of Business and Law, London Metropolitan University, London, UK.
Summary
The study aims to highlight the barriers faced by the entrepreneurs toward achieving sustainability in business and innovation cultivation by offering solutions for academicians, practitioners and policymakers. The study uses the resource-based view (RBV) theory to discuss how an organization’s resources and capabilities influence the competitive ambience and barriers faced by entrepreneurs.
Methodology
The present research uses grey-causal modelling (GSC) to analyse the barriers against successful entrepreneurship.
Findings
The research focuses on the usefulness of dynamic capabilities, managing and cooperating resources in the entrepreneurship setting. The paper highlights the importance of resource gathering and nurturing as a method to combat scarcity. This research further identifies that financial limitations, regulatory obstacles, challenges to sourcing qualified labour, poor infrastructure and technology, limited mentorship opportunities, lack of scalability, low initial cost barriers in product development and risk-averse attitudes are the major factors hindering entrepreneurs from obtaining sustainable business and innovation.
Originality
The contribution of this research to the literature is that it assesses RBV theory within the realm of entrepreneurship, providing a different perspective on resources and capabilities as well as the challenges faced by entrepreneurs. The systematic approach to the analysis and prioritization of various barriers is innovative, and it adds knowledge in this area.
Published in: Management Decision
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