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LITERACYINSTITUTELITERACYINSTITUTE

Journal Indonesian Journal of Innovation and Applied Sciences (IJIAS)Indonesian Journal of Innovation and Applied Sciences (IJIAS) Abstract

The objective of this study is to examine the significant impact of cultural norms on sustainable entrepreneurship initiatives in the context of small and medium-sized firms in Bangladeshs dynamic business environment. Utilizing a rigorous research technique, this study conducts semi-structured interviews with a diverse sample of 40 small and medium-sized enterprise owners, executives, and stakeholders. Following this, a rigorous thematic analysis is conducted, revealing significant themes and complex patterns present in the collected data. The findings reveal a detailed viewpoint, explaining that cultural norms, including factors such as tendencies towards risk avoidance, complex social networks, and the significant impact of family dynamics on business operations, have both positive and negative effects on sustainable entrepreneurship practices in small and medium-sized enterprises. Furthermore, the identified research highlights the utmost importance of governmental policies and regulatory frameworks as influential factors that shape the dimensions of sustainable entrepreneurship. Based on these findings, the research emphasizes the necessity of adopting a comprehensive and integrated strategy that effectively addresses and overcomes the deeply ingrained obstacles rooted in culture. This approach should also prioritize the establishment of a supportive environment, facilitated by well-informed governmental policies and carefully crafted regulations. The implications of these findings have significant resonance beyond the confines of Bangladesh, extending to other developing countries where cultural norms and government regulations can pose substantial obstacles to the achievement of sustainable entrepreneurship. Future research attempts may benefit from delving deeper into the complex relationship between cultural norms and sustainable entrepreneurship practices across various contextual settings.

Conclusion

The studys findings highlight the significant role that cultural norms have in influencing sustainable entrepreneurship practices in SMEs in Bangladesh.However, it is crucial to develop a complete and diversified strategy to effectively tackle these dynamics.Entrepreneurs play a crucial part in this undertaking, actively contributing to the cultivation of strong social networks, the adoption of calibrated risk-taking behaviors, and the pursuit of new solutions to sustainability concerns.Moreover, establishing collaborative alliances with policymakers and other stakeholders has the potential to amplify their influence, facilitating the advancement of sustainable business practices and exerting influence over policy choices that have a direct impact on their activities.The findings of this study have significant consequences that have a broad reach, providing practical advice for policymakers, entrepreneurs, and other stakeholders to work together in developing effective rules and regulations.

Future Research

Berdasarkan latar belakang paper, penelitian lanjutan dapat difokuskan pada beberapa aspek penting. Pertama, penelitian dapat mengeksplorasi bagaimana teknologi blockchain dapat dimanfaatkan untuk meningkatkan transparansi dan akuntabilitas dalam praktik bisnis yang berkelanjutan pada SMEs di Bangladesh. Kedua, penting untuk meneliti bagaimana program pelatihan dan pendampingan yang disesuaikan dapat memberdayakan perempuan dan kelompok minoritas untuk berpartisipasi dalam dunia kewirausahaan berkelanjutan, dengan fokus pada pengembangan keterampilan manajemen risiko dan inovasi. Ketiga, penelitian dapat menyelidiki pengaruh kebijakan pemerintah dan insentif ekonomi terhadap adopsi praktik-praktik berkelanjutan oleh SMEs, serta mengidentifikasi hambatan regulasi yang perlu diatasi untuk menciptakan lingkungan yang lebih kondusif bagi pertumbuhan kewirausahaan yang bertanggung jawab. Dengan menggabungkan ketiga saran ini, diharapkan dapat memacu inovasi, mendorong inklusi, dan menciptakan ekosistem kewirausahaan yang lebih berkelanjutan di Bangladesh.

References

1. The Impact of Cultural Norms on Sustainable Entrepreneurship Practices in SMEs of Bangladesh | Indonesian... doi.org/10.47540/ijias.v3i3.962The Impact of Cultural Norms on Sustainable Entrepreneurship Practices in SMEs of Bangladesh Indonesian doi 10 47540 ijias v3i3 962

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