Most businesses are formed with the sole aim of making profits. Other forms of companies are created to not only focus on business but also on other aspects that ensure the existence of the entity is sustainable. Notably, sustainability cuts across the internal and external activities that relate to the functions of the business. The sustainable practices in business are not only helpful to companies but are instrumental in human life. In retrospect, entrepreneurial strategies such as getting comfortable with failure, macro management, and internal consistency and the pursuit of external interests are critical in building sustainability in life.
Failure is part and parcel of success. Most successful companies experience several failures before it meets its goals and visions (International Institute for Sustainable Development, 2020). It is important to note that failure provides a business with a concrete base for building successful companies. It is equally important to highlight that the idea of getting comfortable with failure can be applied in life. Life is a challenging adventure with no certainties, as of which is the correct path. It takes courage to keep trying different opportunities, which most of them do not meet the expectation of a person (Rezvin and Rezvin, 2018). As a consequence, therein, accepting failure as part and parcel of life gives an individual the zeal required to conquer life.
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In addition, macro-management is another entrepreneurial strategy used in business to manage resources. In life, macro-management can be applied in focusing on the bigger picture or on greater things and less effort and time on the small things (International Institute for Sustainable Development, 2020). To put macro-management into perspective, a student can concentrate on academic excellence while spending less time on an adventure. Learning in college takes a specified amount of time; hence, a leaner should invest more in building their academic portfolio since they can tour places after clearing their studies.
Furthermore, internal consistency helps a company to show steady progress in the productivity and management of resources (Hayton & Caccioti, 2014). To achieve sustainability in life, internal consistency is critical in developing discipline. For an individual to achieve success in areas such as parenting, they are required to show consistent behavior of showing and teaching children good morals (Schaltegger, Hansen & Lüdeke-Freund, 2016). Internal consistency can be regarded as an inside force that pushes people to do what they desire in life.
Moreover, there is the entrepreneurship strategy of pursuing an external interest. One of the laws of business is appeasing people's interests in the success of the company. In life, pursing external interests can be applied in many areas, such as in politics (Hayton & Caccioti, 2014). A person aspires to become a successful politician must endeavor to focus on the electorate's interest. It is important to note that while meeting other people's interests, an individual can also meet its vision and goals.
In conclusion, entrepreneurship strategies have proven to be effective in the management of a business. Notably, the practices of businesses can be applied to a real-life situation to build and grow sustainability. The strategy of pursuing external interest can be applied when seeking votes for an elective post, while the idea of getting comfortable with failure pushes people to explore more opportunities. Additionally, macro-management is critical in focusing on the bigger picture and paying less attention to small details. Besides, internal consistency is a fundamental aspect of bringing up upright children by continuously instilling discipline.
References
Hayton J.C & Cacciotti, G. (2014). Is there an entrepreneurial culture? A review of empirical research. Warwick. Independent Enterprise Research Centre.
International Institute for Sustaianbale Development. (2020). Sustainable business practices: IISD's checklist. The SD Journal 1-4. Retrieved from www.iisd.org/business/tools/principles_sbp.aspx
Schaltegger, S., Hansen, E., & Lüdeke-Freund, F. (2016). Business Models for Sustainability: Origins, Present Research, and Future Avenues. Organization & Environment, 29 (1), 3-10.
Rezvin, S & Rezvin V. (2018). How to Encourage Entrepreneurial Thinking on Your Team. New York. The University of New York.
