Dynamics of Eco- Preneurial Behaviour and Eco-Efficiency In Entrepreneurs of Northern India

Abstract

Environmental pollution and ecological degradation have adversely affected human health, economic development, and living conditions. The industrial sector is a major contributor to these damages, including other forms of pollution. Environment entrepreneurship, green entrepreneurship, or ecopreneurship offer new prospects for entrepreneurs who identify ecological issues and exploit such opportunities for providing solutions of internal and external factors. The environmental issues trigger the organizations to adopt proenvironmental behavior. These pro-environmental or eco-behaviors, along with a business model of ecoprenuership, are the suggestive solutions offered by this study. Firstly, the study proposed a business model for efficient environmental processes in the form of ecopreneurship. The results are expected to provide essential insights to upcoming entrepreneurs confirming that pro-environmental practices ensure economic and environmental efficiency in the form of eco-efficiency. Secondly, the study attempted to expand the current knowledge base. Like other developing countries, India has become preoccupied with sustainability, and this study highlighted the need to adopt the dynamics of ecoprenuership. The study offers a reliable and valid scale development and measurement model that can help academicians replicate this study in other areas to identify the impact of certain motivations on ecoprenuerial behavior and eco-efficiency. Thus, based on the theory of planned behavior, the study examined the influence of motivations on eco-behavior. The study also attempts to study the effects of eco-behavior constructs and motives for the adoption of such behaviors on the eco-efficiency of an organization. This study analyses the mediating effect of ecopreneurial behavior on pro-environmental motivations of starting a business and eco-efficiency. Eco-efficiency plays an important role in mitigating the effects v of industries on the environment and leads to the strategic development of the industries and reduction of their corresponding impact on the environment. The findings provided useful references for the managers and academicians to identify the benefits of adopting eco-behavior to improve eco-efficiency. Higher eco-efficiency signifies the high efficiency of a firm's economic activities while considering the ecosystems' resources. The study initially constructed a reliable and validated motivation for ecopreneurial behavior (MEB) Scale. It reviewed the conceptual development of ecopreneurship. Subsequently, it provided research inputs on reasons for becoming an ecopreneur. It also brings forth the impact of ecopreneurial behavior and eco-efficiency of the organization. Finally, it linked the empirical results with theoretical and managerial implications.