Student entrepreneurs with triple bottom line objectives: capabilities in creating viable business models

Abstract

Purpose

The objective of this instrumental case study is to investigate issues impacting capability development/transformation with respect to student entrepreneurs’ aspirations to create a viable, evolving business model for their start-ups, namely, that are underpinned by goals featuring the “triple bottom line”. That is, instead of simply profits as an economic performance metric, there is also a consideration of wider social issues within the notion of “responsible leadership”, involving people and the planet.

Design/methodology/approach

Underpinned by a “capabilities lens”, the research setting focuses on the perceptions of student entrepreneurs together with other stakeholders in a Canadian university. The country context is pertinent, since to gain scalability, owners of start-up firms may need to internationalise to overcome limited domestic demand (despite the large geographic area); also, stakeholders’ support is sometimes needed to facilitate growth.

Findings

New insights demonstrate the need for appropriate stakeholders to facilitate effective transformative capability development amongst student entrepreneurs with triple bottom line objectives. Student entrepreneurs’ capability of validating facets of a viable evolving business model that address “all” and not “some” aspects of the triple bottom line is especially important. This is alongside the capability of being able to pivot product-market strategies where necessary, and this may feature the need to internationalise in the event there is limited domestic demand. A capability to develop soft skills is also likely to help student entrepreneurs communicate with stakeholders. In turn, such capabilities are likely to help move ideation, passed validation and through to commercialisation.

Originality/value

The utility of institutions and associated stakeholders offering education and training support to develop capabilities amongst students as aspiring entrepreneurs has featured in earlier studies. Likewise, issues associated with the notion of sustainability have also been previously considered. The originality of this instrumental case study is to offer a more nuanced investigation into salient issues associated with capability development amongst student entrepreneurs exhibiting triple bottom line objectives in their start-ups. That is, focusing on considerations related to validating their evolving business models and especially when facing limited domestic market demand.

Citation

Crick, J.M. and Crick, D. (2024), "Student entrepreneurs with triple bottom line objectives: capabilities in creating viable business models", Education + Training, Vol. 66 No. 9, pp. 1230-1245. https://doi.org/10.1108/ET-04-2024-0175