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Agrawal, Rohit, Samadhiya, Ashutosh, Banaitis, Audrius and Kumar, Anil (2024) Entrepreneurial barriers in achieving sustainable business and cultivation of innovation: a resource-based view theory perspective. Management Decision. ISSN 0025-1747
Purpose: The study highlights 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 organisation’s resources and capabilities influence the competitive ambience and barriers faced by entrepreneurs.
Design/methodology/approach: 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 labor, 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.
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