ENVIRONMENTAL ENTREPRENEURSHIP

Environmental Entrepreneurship

Environmental Entrepreneurship

Introduction

Evolution of the Environmental Entrepreneurship Environmental management is relatively a new phenomenon in the business world. Environmental entrepreneurship is also commonly known with different titles such as social entrepreneurship and green entrepreneurship. The development of the concept can be traced to efforts in economics and sociology in the 1970s to delineate the role of the nonprofits sector and identify its unique contributions to society. In addition, since the 1980s, nonprofits have increasingly been pressured to become more innovative and responsive to social needs. Given how new field is, it is not surprising that definitions of the terms environmental entrepreneur-ship and environmental entrepreneur vary.

The wide acceptance of this philosophy for sustainability has been observed in the last two decades and more importantly its significance and incorporation in designing and planning of a process has also increased. The basic functions of the environmental entrepreneurship that differentiates it from environmental management system are as under. The foremost goal of the environmental entrepreneurs is the sustainable development of the society which complements the other social and financial functions of doing business. It is a continuous journey, not a temporary goal with an intention to contribute towards the society. The environmental entrepreneur believes to create synergy and focus on creating profit with customers and not from the customers. The importance of sustainable design and development has increased significantly with the inception of the new phenomena, going green also known as building green, now being a driving force in the market place. Being humans, the decision we take and our behaviour creates an impact on the health and well-being of the society as a whole and subsequently the natural environment of the world also affects our own health, societal, economic, and physical and metal (Schumpeter 2002, 345).

A sustainable design and development initiates with an in-depth understanding of this global feedback loop, and the connections between geology, hydrology, climate, topography, habitat and soil. The integration among these systems and collaboration among the first stages is essential for successful sustainable development. Sustainable methods must be accountable for social responsibility, stewardship and economic viability. On the other hand the environmental systems can be understood as a form of smooth regulation of corporate conduct. Standards shape the language in which environmental issues are framed, and are generally stated as manageable within the structures of today's society. Developed in seemingly innocuous committees, who in fact may represent a variety of interests, they engender the politics of ecological modernization and decrease the degree to which sustainable development will be applied uniformly on products, process, and services worldwide (Schwab 2006, 7).

Description and Analysis

Traditionally, many mainstream business leaders have argued that environmental protection, social responsibility, and economic success are fundamentally incompatible goals. The concept of Environmental Entrepreneurship challenges this assumption. Also known as “sustainable business,” Environmental Entrepreneurship ideas demand that managers make choices that meet contemporary economic needs without compromising the ability of future generations to meet their own needs.

Because Environmental Entrepreneurship is an emerging concept, the implementation of Environmental ...