GREEN ENTREPRENEURSHIP: A SUSTAINABLE DEVELOPMENT INITIATIVE WITH SPECIAL REFERENCE TO SELECTED DISTRICTS

Abstract

This study explores the influence of green entrepreneurial activity on sustainable development, using institutional economics as a theoretical framework. We could easily say that Green Entrepreneurship is now easier than ever. Considering not only the environmental problem but the pandemic crisis as well, we notice that people are more inclined towards social and green enterprises.

At the end of the day, a young entrepreneur needs to be able to answer the question, “how does my company help solve environmental and social problems?”. And there are many ways to do that. All you need to do is to let creativity and innovation be combined.

The good thing about modern green entrepreneurship is the fact that with today’s technology, the range of potential ideas has grown. People can now use new and innovative technologies to come up with new models that will save energy, solve existing problems, and of course predict future issues that might occur.

What are the challenges and opportunities that green entrepreneurs face when building their network compared to traditional network formation?

This research explores how network formation challenges differ between green entrepreneurs and traditional entrepreneurs, aiming to fill the currently existing research gap, knowing that closing it is beyond the scope of this research. Next to that, the findings of this research will guide green entrepreneurs by providing an overview of frequently occurring challenges that other green entrepreneurs faced when building their network. Herewith, green entrepreneurs can adjust their networking strategy in order to save time, resources and ultimately create opportunities to build a network more effectively.

To achieve the study objectives, we adopted integrative review of literature methodology. Concerning the findings, the paper identified new trends in green entrepreneurship and identified the need to clarify some relevant concepts, such as: industry life cycle, entrepreneurship knowledge sharing, institutional framework, and entrepreneurship financing, green entrepreneurship decision-making process among others. We also identified the need to properly delineate the process leading to the practice of green entrepreneurship as a departure from the old entrepreneurship philosophy. Therefore, we recommend that further studies should endeavor to focus on identifying the step-by-step processes involved in the green entrepreneurship practice for the possibility of wider accessibility and ease of understanding of prospective green entrepreneurs in the interest of green entrepreneurship growth and development.

       Finally, we identified the dearth of literature with change management scholars’ view and contributions to the emancipation of green entrepreneurship from the cocoon of traditional entrepreneurship management practice hence, we threw it open for future research undertaking.  Finally, we identified the dearth of literature with change management scholars’ view and contributions to the emancipation of green entrepreneurship from the cocoon of traditional entrepreneurship management practice hence, we threw it open for future research undertaking.