Determinants of Success and Challenges of Sustainable Entrepreneurship in the Philippines: A Qualitative Meta-Analysis

Date

6-2023

Degree

Bachelor of Science in Agribusiness Management

College

College of Economics and Management (CEM)

Adviser/Committee Chair

Remund Jordan D. Labios

Committee Member

Rei Chino C. Pua, Eliza C. Aquino, Mar B. Cruz

Abstract

Sustainable entrepreneurship in the Philippines is growing as more people recognize the the need to address social and environmental problems through responsible business practices and creating change. The study aimed to determine the relationship between determinants of sustainable entrepreneurship and identify factors affecting the success of sustainable entrepreneurship. Specifically, the study aimed to (1) define and identify mediating and moderating variables affecting sustainable entrepreneurship at the individual, business, and national levels; (2) collect findings in selected secondary studies based on identified variables; (3) synthesize findings and describe emerging themes, and to; (4) provide recommendations for future research and practical use. A qualitative meta-analytic approach was used in the study. Secondary data were collected through different online databases and thesis papers from DAME-UPLB. Upon the initial query, a total of 486 studies were compiled. Using the PRISMA Diagram and a set of exclusion criteria, a total of 23 studies were analyzed, 14 of which are from online databases and nine (9) are from DAME-UPLB. A research overview was made to look at the objectives of the studies, data collection method, data analysis, sampling method, geographical and periodical distribution of studies, and classification of industries presented in the studies.

The researcher analyzed the four (4) business functions: production / operation, marketing, finance, and human resource. In the production aspect, the common challenges encountered were struggles in product optimization, poor quality control system, lack of production and storage facilities, and unavailability of raw materials. In the marketing aspect, challenges found were related to subpar product quality, poor packaging material, lack of distribution channels, disadvantageous pricing strategies, lack of promotion, and substitutability of products. In finance, identified struggles were the acquisition of funding, inefficient budget allocation, averse to borrowing, poor record management, and lack of accountability. Lastly, human resource challenges include turnover and demotivation.

Themes in studies were categorized into mediating and moderating variables that serve as drivers of sustainability. Mediating variables include (1) age, gender, education, location, and socioeconomic status; (2) size, ownership, and assets; and (3) laws and regulations. It was found that the youth are uninterested in participating in agricultural activities however they are critical in the development of sustainable entrepreneurship. It was also found that small firms can achieve sustainability even with limited resources. Lastly, policy-making bodies and stakeholders' proactive coordination and efficiency can benefit entrepreneurs. Moderating variables analyzed were (1) attitudinal factors, perceptual factors, and entrepreneurial orientation (EO); (2) entrepreneurial competencies; (3) management, personality, and motivation; (4) innovation; and (5) forms of support. It was found that drivers for success include the need for self-improvement, creating societal value, and motivation to overcome hurdles around them. Entrepreneurial competencies can vary depending on the job level. Furthermore, formulating innovative strategies can be done through the inclusion of the community. Lastly, forms of support come in the form of money, equipment, machinery, informational support, or promotional support. An analysis of sustainability factors, (1) economic; (2) environmental; (3) social; and (4) cultural/ethical, was conducted. It was found that entrepreneurs can be risk-averse in terms of borrowing. Financial institutions must formulate schemes that highlight the benefits of their services in achieving sustainability. Environmental degradation and pollution can foster entrepreneurial behavior and sustainable orientation. The positive and negative spillover effects on work-life balance should be considered in the creation of social strategies. Furthermore, it was found in some that individuals beliefs, values, and community norms can affect decision-making in the organization and community reception.

The research provided recommendations for entrepreneurs classified in the industries of food and beverage processing, livestock, crops, and plantation, agri-inputs, finance, handicraft and textile, retail/wholesale, tourism, fashion, and food service, for public and private institutions, and future researchers.

Language

English

LC Subject

Entrepreneurship--Research

Location

UPLB College of Economics and Management (CEM)

Call Number

LG 993 2023 M17 T86

Notes

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Document Type

Thesis

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