Entrepreneurship and Creativity

Research Paper 1
Team Operational Excellence
October 12, 2010
Ecopreneurship and Solar Solutions
Operational Excellence Solar Solutions 2

Throughout the course of a normal day, one can see hundreds of ‘green’

advertisements. By this, I mean an advertisement declaring that the company is in some

way devoted to one the fastest growing consumer trends – sustainability. What exactly

is sustainability? Sustainability, as defined by the Mirriam-Webster dictionary is “of,

relating to, or being a method of harvesting or using a resource so that the resource is

not depleted or permanently damaged.” Mostly it is to ensure that there will be

resources for future generations. In recent history much more has been understood

about our planet, namely- global warming. Global warming is a very real threat, and

being overlooked could be the end of the world as we know it. The burning of fossil fuels

and subsequent release of carbon into the atmosphere over several generations, has

started what many scientist believe is an irreversible chain of events (National

Geographic Society, 2009).

It is not all so dim however; there is many ways for people to do their part. It has

become somewhat of a fad to ‘go green’; it is a trend that should be embraced by

everyone in one way or another. People are beginning to become conscious of what is

known as their carbon footprint, a measure of the impact one has on the environment,

particularly climate change (carbonfootprint.com). This figure, from carbonfootprint.com

shows an example of the different aspects of one’s life that usually contribute to their

carbon footprint. The numbers are just an example and may not reflect actual averages.

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Like a sort of beneficial epidemic, awareness is spreading and people are

beginning to drive smaller, more efficient automobiles, becoming more conscious of

their sources of food, and using all sorts of organic and all-natural sourced products.

This should raise a red flag for anyone with an entrepreneur’s mindset.

If there is an ever-growing market with no end in sight, who are those that will take

advantage of the opportunity and realize great returns? Ecopreneurs are people who

generate ideas that will reduce environmental impacts and increase quality of life for

consumers through a product or service (Schaltegger, 2002). Ecopreneurs have been

developing business models for the last decade that give people the comfort and

satisfaction of knowing they are doing their part to protect the environment. These

clever business-people have exploited industries from organic breath mints to electric

and hydrogen powered automobiles and everything in between. Many different business

types could benefit from this trend.

Ecopreneurship is essentially entrepreneurs developing businesses focusing on

sustainability and reducing negative externalities on the environment. .

Ecopreneurship is a developing industry, which has emerged to reduce the negative

externality on the environment through innovative methods by encouraging

entrepreneurs to incorporate sustainable business methods and products into their

businesses (Pastakia, 2002). Trends in Ecopreneurship in 2010 are transparent in

products, carbon footprints, spreading environmental awareness to customers, green

buildings, and recycling electronics (Spors, 2010). Ecopreneurship trends toward

sustainability are often simple and the incentives are not limited to helping the

environment but the bottom line as well. Practices include printing less paper, using

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digital documents, reducing electricity consumption, recycling, seek other green

businesses, incorporate programs in which old belongs are reused, recycle electronics,

stop wasteful junk mail, use ‘green’ items in the office, and make efforts to educate and

train employees on green business methods (Prusynski, 2008). . Environmentally

conscience businesses will begin to follow steps such as constantly evaluating the

company’s position in terms of energy and water usage as well as total output of

pollution. Businesses will also seek out ‘green’ opportunities, implement strategies, and

even set goals and deadlines to achieving environmentally related goals (Spors, 2010).

This will become an ongoing process. Eco-Bounty is pursued; not only as a worthy

cause but also as an efficient business solution and its products create value for its

customers (Staff, 2009). “Around the world, being eco-conscious has become a status

symbol for consumers; partly replacing traditional status symbols that are now

associated with pollution, waste and excess (Staff, 2009).” There are a few leading

industry trends in Ecopreneurship like those mentioned that are very solid.

Entrepreneurs focusing on sustainability could adapt to these trends quicker than

existing companies could and would therefore gain an edge in this industry.

Our government is even working hard to realize a more sustainable future for our

county. The Obama administration has devoted efforts to the use of Green

technologies, including renewable sources of energy and passed a series of major solar

and renewable energy incentives (AbundantEnergy.com). He has made many promises

and commitments during his campaign and through his term thus far aimed at achieving

the 25 by 25 goal, which is to generate 25 percent of our energy from renewable

resources by 2025 (barackobama.com). Through his website, he states that achieving

this goal will not only reduce carbon emissions, it will create jobs and give a boost to our

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economy. The president is right; reducing our dependency on foreign oil will certainly

create jobs. The number of jobs created by alternative energy sources might be

enough to dramatically lower of the national unemployment rate, which are the highest

we have ever recorded.

Solar energy could capture the ‘green’ industry and provide families with clean

cheap energy for use inside their homes. Energy statistics indicate a steady rise in the

use of solar energy in the next year (, 2010). “In Florida alone, solar power has the

potential to power 20 million homes “(Suetos, 2010). The current supply of solar power

is untapped as a major energy producer according to the statistics (, 2010). The growth

potential is only limited by access for solar energy because it is renewable and

constant. There are many incentives available for using renewable energy such as

subsidies, but one needs to be aware of the laws and policies involved as well.

Using solar as a source of energy can have several legal implications for the

distributor and homeowner. When installing a new unit it is important for to follow the

appropriate laws and regulations. According to energysavers.gov, issues regarding roof

load parameters, heat exchange, improper wiring, unlawful tampering of potable water

supplies, and structural integrity are the most common with the use of solar panels. The

most important way of making sure none of these issues arises is to follow all proper

permitting, and make sure all measurements and other variables conform to code.

The previous compares the energy consumption statistics for renewable energy

sources. The statistics are from the U.S. Energy Information Administration. On

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comparison, the solar consumption is beginning the curve up form data point 1 in 2007

to data point 4 in 2010 to the projection in 2011. Based on this information solar power

could follow in the footsteps of Wind renewable energy which is currently the fastest

growing source and it is steadily rising annually just like Solar.

Series 1 is 2007 and then the chart progress chronologically to Series 5 as a projection

for 2011. As you can see by this graph Solar Energy is a largely untapped market.

According to Where the Jobs Are, any business that promotes sustainability can be

created “Green jobs can be found or even created in any field as long as they truly

preserve or restore the environment.”

The best business in the Ecopreneurship industry would be in energy because

not only is it subsidized and promoted by the U.S. Government as discussed earlier, but

it can be integrated into the construction and real-estate industries. Solar Energy

Solutions would provide services to customers by installing solar panels and other

energy saving devices to reduce consumption of purchased energy and become

sustainable off of renewable energy. Some major appliances, which could be energy

efficient, are the hot water heater, air conditioner, etc. These devices tend to consume a

lot of energy. This company would also replace inefficient appliances with newer

appliances, which use less energy and are better for the ecosystem.

The incentives for the customers aside from helping the environment would be

lower energy costs to none or an actual credit from the power company. The

homeowner may qualify for government incentives as well. The company would also

work with construction companies to integrate energy efficient techniques in during all

stages of construction to increase the effectiveness of the solar panels. This method

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could also make less of a visual impact on the building by actually recessing the panels

into the roof to avoid seeing them. The company would pursue government subsidies

and incentives for the business and for our customers to increase demand. There is an

agreement with the power companies to provide financing for the panels making them

easier to afford and in turn, the reduced energy demand would save the company

money from having to build a new plant. The value offered by the company goes

beyond the environment but it is actually a profitable investment for our customers.

With financing the cost of the panel is affordable, the money saved from energy

generated, and efficient energy usage makes it easier to pay off. The solar energy

market is largely untapped and there is strong demand to reduce expenses. This

business addresses environmental concerns, provides ways to save or even make

money, and can work with construction companies, power companies, and financing

companies to serve customers drastically increasing demand for sustainable energy.

Inside the umbrella of ecopreneurship, sustainability and being ‘green’ lies a vast

amount of business ideas and niche markets. Like stated before, there is a ‘green’

option for just about every consumer good these days. Just an example is the growth in

the natural and organic foods market. According to figures from the Organic Trade

Associations (OTA) 2010 Organic Industry Review, U.S. organic food sales reached

24.8 billion in 2009 which is 5.1 percent higher than 2008. Organic foods are hitting the

mainstream much more often now also. In the same OTA report, it states that 54% of all

organic produce were sold within the mainstream grocery chains such as Publix

(Organic Trade Associations 2010). Sounds like it might be the right time to be a farmer

growing his crops organically. There are countless other examples just like this that

could not just help save the environment, but make the ecopreneur a lot of money in the

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process. Almost anything consumable has an organic alternative.

Starting a green wedding and event planning business may be a good path away

from the cubicle world and toward ecopreneurship. Event planners design and execute

a variety of events (including weddings, celebrations, and conferences) on behalf of

others. Growth in the industry is a function of how extravagant people can get with their

events, and sustainable event planners can capitalize on the growing interest in green

among the extravagant. To do this as an eco-friendly event planner, one would benefit

by having a terrific network of contractors in the area that can provide eco-friendly

services for events, including cleaning companies, sustainable printers for business

cards and invitations, digital photographers, green dry cleaners, organic caterers, etc.

Rest assured, all the eco-friendly implements for any event are available, right down to

eco-friendly confetti. According to the International Special Events Society, event

planning is a global industry worth approximately $500 billion. These days, it is rare for

someone to actually plan their own wedding without hiring or enabling the use of outside

consultants .With today’s growing green industry there will be a higher demand of green

weddings and events needed, therefore creating an opportunity to start a successful

green wedding and event planning business.

Another business example, which is booming in the eco-preneurship industry, is

the organic wine industry. In just eight years, Robert Sinskey's vineyards grew from 15

to 100 acres. Sinskey switched to organic farming in 1990, slowly phasing out synthetic

herbicides on his grapes until 2001 when he became a certified organic grower. His

productive vineyards now cover 200 acres on six different properties. While every grape

in his Cabernet Sauvignon, Pinot Noir and Merlot wines are organic, not a single bottle

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carries the U.S. Department of Agriculture's green-and-white "USDA organic" label. U.S.

sales of certified organic wine and those made with organic grapes hit $80 million last

year, rising 28 percent since 2004, according to the Organic Trade Association (OTA).

Today, wine enthusiasts buy nearly twice as much organic wine as they did in 2003.

The association says it expects organic wine sales to grow about 17 percent each year

through 2008. With the organic and eco-friendly industry increasing in sales, this

industry has tremendous potential. Conventional cosmetic products are often made with

synthetic and chemical ingredients, which can be harmful to both the environment, and

the human body. As an alternative, there are a number of excellent environmentally

friendly cosmetic companies which sell eco-friendly cosmetics. Looking over the

ingredient list for most cosmetic products, from eye shadow to body lotion, there are

usually about two or three dozen ingredients, most of which are unrecognizable. These

ingredients are often synthetics, many of which are petroleum-based, and some of

which are toxic to the skin and the environment.

Eco-friendly cosmetics, on the other hand, are specifically created with the well-

being of the consumer and the environment in mind. Environmentally friendly cosmetic

companies provide plant and mineral-based products, which are not only non-toxic, but

also nurturing. Through supporting these eco-conscious businesses, the green body

care and make-up market will continue to grow. There are few regulations for cosmetics

and information about the long-term effects is difficult to access. Whether an actual

product should be considered toxic or not is left for the consumer to decide. The reality

is many conventional products are made from substances — fragrances, dyes,

preservatives, and bases —, which on their own have been shown to have serious

negative effects. For information on the potential effects of cosmetic ingredients, the

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public-interest group, Skin Deep provides well-researched data on most products on the

market. Many ingredients are potentially harmful, especially when used regularly. For

example, a ten-hour liquid face foundation, made by one of the most successful make-

up companies in the United States, has ingredients which are linked to cancer,

developmental toxicity, allergies, environmental violations, neurotoxicity, lung and skin

irritation, and cellular level alterations, according to Skin Deep.

Eco-friendly cosmetics are made with ingredients such as bee pollen, natural

flower essences, and minerals. They provide the skin with nutrients, moisture, and

positive phytochemicals, which over the years will improve skin, rather than degrading

it. Not only are they healthier, but green products are better for the earth. Synthetics

used in cosmetic products are washed off each evening or are absorbed into the

bloodstream. In both cases, they eventually enter the ecosystem, introducing

unnecessary toxins and chemicals into the soil and water.

In conclusion, there really is not much argument against the idea of sustainability

and keeping our earth healthy for generations to come. It does not matter whether it is

just using an aluminum water bottle to fill with water throughout the day instead of

plastic, or buying a fuel-efficient hybrid that can reach 40-50mpg, if everyone does his

or her part, the impact will be great. Not just the environment will benefit, but ones bank

account could swell in the process if these great opportunities are heeded through

ecopreneurship. The government has vowed their determination to continue to use

current and develop new sustainable sources of energy. Incentives are available for

making your home, automobile, and businesses ‘green’. The implications are huge, the

opportunities are real and it is time that we come together as the earth civilization and

make the proper adjustments to our lifestyle so that the future generations can enjoy

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this beautiful planet.

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Research 1 Entrepreneurship and Creativity Dr. Jerry Segal