Question

Globalisation has enabled the entrepreneurs to take advantage of business opportunities all over the world. In the recent times business has started recognizing opportunities in environmentally oriented trends like go green. India is becoming a hub of eco-innovations and this has cut across all business. The present scenarios is idea for types of entrepreneurs to step into green world and take advantage of untapped opportunities. Eco-entrepreneurship has become apparently increasing that indeed contribute to the economic and social development. An entrepreneur makes capital works for them through business where as the ecoprenerus use their business to create eco-friendly atmosphere. The transformation to ecoprenerus occurs when their courage and their determination to solve ecological problems increases and they attempt to do business in e-greenlining of earth, resorting degraded land, cleaning the air, building healthy and safe home, preserving the environment and cultural wonders. In the current era, consumers also prefer to buy products that are eco-friendly. The changing attitude of consumers in India toward environmentally comfortable products led extra opportunities to ecoprenerus.

Questions:

Q1. Examine the form of sustainability which enhances the opportunities to ecoprenerus.   

Q2 .Create a Timmon model as well as suggest the strategies to develop ecoprenerus on that model.

Answer 1

Answer :

1. An “ecopreneur” is an entrepreneur focused on creating and selling environmentally-friendly products and services. Ecopreneurship is a new way of doing business – a way to create sustainable business models, and work together with and for the environment. Using innovative approaches to old problems, ecopreneurs are looking for ways to capitalize on the environmental problems that our world faces.

The forms of sustainability which enhances the opportunities to ecopreneurs are :-

• Ecopreneur can engage himself in one or more business that is eco-friendly for example making jute bags, organic food , eco- friendly soap, creation of solar panels etc.... this diversification in business will support him because if one business does't do well he can focus on another business and not only sustain with it in the market but can make profit out of it.
• Proper campaign and advertising is done for eco-friendly products to encourage public at large to use and consume environment friendly product.
• Quality products must be delivered and affordable pricing should be done for eco-friendly products to add value to an individual life. Affordable pricing will help in increasing the sales of the eco-friendly products.

     2. The Timmons Model of Entrepreneurship considers opportunities, teams, and resources as the three critical factors available to an entrepreneur and holds that success depends on the ability of the entrepreneur to balance these critical factors.

        The strategies to develop ecoprenerus on Timmons Models are :-

• Balancing economic returns and opportunities with environmental and social stewardship is something that requires thoughtful leadership in ecopreneur which a ecopreneur develop as he gain experience with the business which is eco-friendly.
• Good team members working together will make better decisions in the business this will lead to increase in goodwill and reputation of business.
• Efficient use of resources should be done to obtain best possible output from it. Resources can be machinery, human resources, relevant information etc.

                         

                   TIMMONS MDEL OF ENTREPRENEURSHIP

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