Definition of Ecopreneurship
The term “ecopreneur” is derived from two terms which are “entrepreneur” and “ecology. An entrepreneur is a person who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods and who accepts the risks associated with them. (Schaper, Michael.2002) He can be anyone who identifies an opportunity in a market and has a belief that it would succeed in the economy and on that belief he starts exploiting the opportunity. They may create a new organization or may be a part of an existing organization where they revitalize the organization in response to their perceived opportunity. Generally, the word entrepreneur is used to denote a person who starts a new business but with time and more understanding of the subject, the revised definition of an entrepreneur also includes “intrapreneurs”, that is an entrepreneur operating within a corporate environment. Entrepreneurs are the strategic factors in economic development and the central factors in the trade cycle as they are the driving force of an economy. Ecology or environmental biology is the branch of biology which takes into consideration the examination of living organisms in the natural environment. It includes the study of individuals, populations, communities, and ecosystems. (Goliath.2002).The ecology has reached enormous importance in the last years because of man’s interest in the environment in which he lives and to find ways to protect the environment in order to make it sustainable. The word ecopreneur is a portmanteau of “ecological” and “entrepreneur.” An ecopreneur is an individual who is focused on ecologically-friendly issues and causes, attempting to do business in a way which benefits the environment. He may not be a person or entity only involved in products like solar powered cells, water conservation system or compostable packaging. In fact, an ecopreneur is anyone who ranks environment more than or equally to profits as his most effective criteria as a business owner (reuters, 2007) . “While many entrepreneurs may be motivated, at least in part, to the mantra of “greed is great” on their journey to becoming a millionaire, growing numbers of ecopreneurs are adopting a different course, focusing on solving the problems facing society through the businesses they create, greening their bottom line. Many are redefining their wealth, as we have, not by the size of their bank account or square footage of their home. Wealth is defined by life’s tangibles: health, wellness, meaningful work, vibrant community life and family.”(John Ivanko.) . The main aim of an ecopreneur is to build a firm which is more sustainable and environmentally friendly. Sustainability development is a pattern of resource use such that it not only meets present human needs, but also preserves the environment so that the resource can also be utilized by the future generations. Sustainable business, or green business, is enterprise that has no negative impact on the global or local environment, community, society, or economy—a business that strives to meet the triple bottom line (people, planet and profit). Often, sustainable businesses have progressive environmental and human rights policies. In general, business is described as green if it matches the following four criteria: * It incorporates principles of sustainability into each of its business decisions. * It supplies environmentally friendly products or services that replace demand for nongreen products and/or services. * It is greener than traditional competition.
* It has made an enduring commitment to environmental principles in its business operations.
Who is an Ecopreneur
“An entrepreneur whose business efforts are not only driven by profit, but also by a concern for the environment”.(Schuyler. 1998). The terms such as “Sustainopreneur”, “environmental Entrepreneur” and “eco capitalist”...
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