Enterprise and Sustainable Development: Role, Challenges and Opportunities

Abstract

This paper critically reviews the role, challenges and opportunities of business enterprises in the context of sustainable development (SD) with some emphasis on the Caribbean. Using the literature, observations, and judgment, the paper reiterates the triple role of a typical or ideal business enterprise in SD: contributor to economic growth, contributor to job creation and contributor to environmental protection or conservation. Naturally, the attainment of these goals is affected by how business enterprises deal with challenges and take advantage of opportunities. The paper examines these challenges and opportunities. Except for some singularities, the Caribbean is not too different from the rest of the world. The paper uncovers five gaps in the literature and makes recommendations for business enterprises' effectiveness in the pursuit of SD.

Keywords: Enterprise, Sustainable development, Challenges, Climate change, The Caribbean