A Brief Note On Environmental Degradation And The Global Issue Of The 21st Century

1365 Words Dec 1st, 2016 6 Pages
Eco-preneurship
Environmental degradation is perhaps the most prominent global issue of the 21st century. Academicians, policymakers, non-governmental agencies and governments are all concerned about the increasing levels of land degradation, soil erosion, deforestation and industrial toxins (Volery, 2002). Several scholars also agree that despite the decades of economic growth and increase in the quality of life, the period of industrial expansion has had substantial negative effect on the environment (Boulding, 1966; Dean & McMullen, 2007; Schmidheiny, 1992; World Resources Institute, 2004).
The concept of ecopreneurship is not yet much researched upon and lays in the state of infancy (Cohen & Winn, 2007).In the words of Cohen and Winn (2007), “ecopreneurs have the potential to resolve our environmental problems and to gradually improve the earth’s ecosystem.” Scholars agree that entrepreneurs can help preserve our ecosystems, counteract climate change, improve fresh water supply, maintain biodiversity, and reduce environmental degradation and deforestation (Cohen and Winn, 2007; Dean and McMullen, 2007).
Schumpeterian theory provides the theoretical basis for environmental entrepreneurship. According to Schumpeter (1942), entrepreneurs are the innovators and as societal needs arise, entrepreneurs provide the innovation which gives society a new way of addressing its problems. He said that “environmental problems inherently call for innovation, as most of them are caused…

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