GREEN ENTREPRENEURSHIP

Green Entrepreneurship

Green entrepreneurship

Sustainability, the key driver of innovation

Implementing sustainability in the operations makes the products go “green”. This makes competition high and creates more rivals. On the other hand, in developing countries such pressures do not exist because they have other major problems to tackle. Suppliers are unable to provide the green inputs and transparency. For the manufacturing process to be sustainable, original equipment would be demanded. New process need to implement for the sustainability. During a recession period, customers would fail to pay high for eco-friendly products. The above are the reasons that the executives try to achieve and gain sustainability to become corporate social responsibility, apart from business objectives (Andrew, 1992).

The need for sustainability is paving the way for competitive landscape. This would force companies to bring an innovation in their products, process, and technology and business models. It is said that during the economic crisis innovation is the only key which can lead to progress. If companies would make sustainability as a goal, this would create competencies that it would create a competitive edge. Sustainability would also lead to development, making it a competitive advantage for the companies (Andrew, 1992).

Sustainability is not a burden on the company, as percept by the executives. Turning towards the eco-friendly environment can make the costs decrease and increased revenues. Sustainability, therefore, is said to be a driver for innovation. Rethinking business models will make the company achieve an edge in the market. Achieving sustainability can be made in a process of five stages. Each stage has its own unusual challenges (Atkinson, 2009).

'Five stages' model to entrepreneurial start-ups

First stage is known as viewing compliance as opportunity. The challenge it comprises is to ensure the compliance along with norms which becomes an opportunity for innovation. The competency required to achieve this stage is the capability to predict and form system. Other competency required would be the skill to work with other companies within the market. This includes working with the rivals, too, so that creative solutions can be implemented. The opportunity that these competencies would develop is the compliance usage to induce the company and its corresponding partners to experiment sustainability in technology, material and process.

The second stage is the making of the value chain as sustainable. The central challenge of this stage is to increase efficiencies throughout the value chain. Expertise in techniques would be a competency for this stage. For example, expertise can be carbon management and life-cycle assessment. The other competency is the redesigning ability to use less energy and water. This would produce few emissions and generate less waste. The other competency is the capacity to collectively ensure by suppliers and retailers that the operations are eco-friendly. This stage provides an opportunity of development of sustainable sources of raw materials; high usage of clean energy sources such as solar power and wind and searching for innovate usage of returned products.

The third stage is the designing of sustainable products and services. The challenge it involves is to develop sustainable ...