SBM ITB and MarkPlus Institute collaborated to bring in two distinguished speakers who conducted a lecture on Strategic Marketing for executive students at the ITB Jakarta Campus (6/6). The lecture, “Social Entrepreneurship and Sustainable Business,” was delivered by renowned experts Rhenald Kasali and Agus P. Sari.
A sustainable business or green economy requires sustainable development in the process. Sustainable development is a development in which future generations have equal opportunities in development.
Currently, biodiversity is under threat of extinction due to land and sea pollution and over-exploitation; likewise, the environment has experienced a crisis in the form of extreme weather changes, water pollution, air pollution, and floods.
In contrast to traditional business models solely focused on financial gain, considering natural resources is crucial when implementing sustainable business practices. Companies that prioritize sustainability enjoy several advantages. Firstly, they gain access to premium markets, catering to environmentally conscious consumers. Secondly, they become more attractive to investors who seek responsible and ethical business practices. Lastly, integrating sustainability into their operations becomes an integral part of the company’s growth trajectory as revenue increases.
“Sustainable economic growth may only be around 5% or lower than usual business. But steady, continuing to grow because what is produced is then invested in social assets. For example, public facilities such as reading parks,” said Agus.
A sustainable business also has the advantage of being more efficient because it reduces energy requirements and reduces the waste generated. Apart from natural resources, another thing that needs to be considered in a sustainable business is the aspect of social or community resources.
One of the social problems that occur in society can be solved through entrepreneurship. This is then called social entrepreneurship. Social entrepreneurship is expected to be an innovation for oneself so that the business continues to survive and an innovation for the community as a solution to social problems.
Rhenald Kasali, a social entrepreneur who has founded the Yayasan Rumah Perubahan since 2014, added that social entrepreneurship is not only a solution to social problems but also has to give meaning to the surroundings. Therefore, social entrepreneurship is limited to solving social problems or developing communities and applying science that continues to grow in society.
“So, not only do people feel the free benefits, but they also benefit from the developing technology,” added Rhenald.
In addition, social entrepreneurship is not only beneficial for society in general but also for the individuals who run it. Social entrepreneurship can provide emotions of happiness and satisfaction to those who carry it out.