Dr. Tawfeeq Abedlchanee khalaf Alajaleen
Abstract:
Background:
For decades, entrepreneurship has been regarded as a key driver of economic growth and innovation. However, today’s environment, affected by the dual forces of the digital transformation and sustainability imperative, offers new and complex opportunities and challenges for new ventures. The aim of this theoretical review is to try to capture and conceptualize the associated evolution in the nature of entrepreneurship in this new paradigm, rather than traditional models of entrepreneurship and use of general theories.
Methods:
This study conducts a review of existing literature and established theoretical models to provide an in-depth analysis of TQM’s implementation strategies and its overall effectiveness. The exploration focuses on identifying and examining the core dimensions that constitute the TQM framework and their interplay in achieving desired organizational outcomes.
Review:
This study employs a descriptive and analytical approach that involves an extensive survey of the foundational, classic and contemporary literature in entrepreneurship, strategic management and innovation studies. Specifically, we discuss the transition away from the classical Schumpeterian and utility-maximising perspectives to a paradigm characterised by strategic agility, digital literacy, and an acute awareness of Environmental, Social, and Governance (ESG) imperatives. The review situates an assessment of the traditional “strategise and implement” models alongside the more contemporary and adaptive methods of “effectuation” and “lean start-up” methods. Additionally, we investigate the importance of the entrepreneurial ecosystem, including access to alternative financing, institutional barriers, and the importance of building strong digital and social capital, particularly as it relates to emerging economies.
Discussion:
The synthesis suggests that successful 21st-century entrepreneurship requires more than merely taking advantage of opportunities in the market; it also requires co-creating value in a fast-moving, interconnected, and socially responsible ecosystem. A significant theoretical tension exists, however, between lean, rapid experimentation, and the long-term, stakeholder perspective of sustainable entrepreneurship. This discussion reveals that today’s entrepreneurs must learn to embrace this paradox, striking a balance between immediate responsiveness and long-term resilience and responsible practice.
Conclusion:
Today’s entrepreneur must be “ambidextrous” in a new way: managing digital innovation as well as societal and sustainable impact, simultaneously and in a meaningful way. The findings of this study suggest that, in the current climate, an effective entrepreneurial strategy is an adaptive, ecosystem-focused, and purpose-oriented one. The study forwards a more integrated research agenda that bridges digital innovation, sustainable business models, and entrepreneurial strategy research, and ultimately offers a new lens to understand and steward the next generation of practice-based futures.