CURRENT ROLE OF ENTREPRENEURSHIP IN GLOBAL GREEN MARKET by iaemedu

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									International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online),
  INTERNATIONAL JOURNAL OF MANAGEMENT (IJM)
Volume 4, Issue 5, September - October (2013)

ISSN 0976-6502 (Print)
ISSN 0976-6510 (Online)                                                          IJM
Volume 4, Issue 5, September - October (2013), pp. 01-05
© IAEME: www.iaeme.com/ijm.asp                                             ©IAEME
Journal Impact Factor (2013): 6.9071 (Calculated by GISI)
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      CURRENT ROLE OF ENTREPRENEURSHIP IN GLOBAL GREEN
                          MARKET

                                        Dr. Simran Kaur
                        Asst Prof, SSN College, Delhi University New Delhi
                          35 36 B-1 Raja Park Delhi, India, Delhi 110034
                                         Mr. Vikas Arya
                                  (MBA-IB, M.Sc. Psychology)
                     Gen. Secretary (co-founder) Dev Bhoomi Sarvodaya Trust
                      Sarvodaya Spirit, # 8, Chow Mandi Roorkee, Uttrakhand, India


ABSTRACT

        The purpose of this article is to emphasis the position of management in Entrepreneurship for
building creative and innovative organization and helping Sustainable Economic Growth.
Entrepreneurs must strive for a green co-existence where Humans and Nature work together for
peace and prosperity, it is possible with leadership quality which should be assembled to get the
things happened at very large scale. No Doubt, Entrepreneurship is getting the attention not only in
corporate world but also creating a corner for Global Green Market. The immense transformational
capacity and Innovative energies of business can also be much better harnessed to deliver meaningful
solutions in co-creating societal value. The main challenge is to focus and promote the youth energy
for positive channelization of their creative power and Innovative Ideas. This paper is focus on the
current issues of economic and environment with the combined angle of entrepreneurship, which is
going to be the sustainable concept for Green Corporate Market models that can synergistically
deliver economic and social values simultaneously.

Key Words: Green Corporate Market, Global Green Growth Rate, Global Green Market, Socio-Eco
Balance, Sustainable Economic Growth.

1. INTRODUCTION

        “Future business leader to learn about the importance of universal principles to master
environment, social & governance challenges are critical for market sustainability and humanity’s
future”.
                                                         Green Kell, Executive Director, UNGC

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International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online),
Volume 4, Issue 5, September - October (2013)

        Now days, scenario has changed, developed countries are looking forward to get the solution
of their nation’s economy disturbance in the core of developing countries. What makes it possible for
developing countries like India? Its only Entrepreneurship attitude. There is potential in every
business, like a school is not profitable in terms of money, but it is profitable in terms of developing
character. There, the profit is different, developing human potential. So the word profit comes in the
picture but not necessary in terms of Money. That’s makes the difference, which should be
understand through out the world and mostly in corporate management education pattern.
        In Current period, world is facing very dark phase of economy, social & environmental
challenges. The changing business environment & various complex forces operated demand
professional entrepreneurs. Modern entrepreneurs must be able to adjust the fluctuation of market,
action of competitors, labor union and other external factors too. One complete holistic & Multi-
dimensional approach is needed to develop the balance between growing economy card and social
values for better tomorrow.
        In this context, business houses as well as management institute must accept the challenge
and produce the best human capital which should bale to module the conditions in favor of positive
sustainable economic growth.

2. CO-RELATION BETWEEN HUMAN AND NATURE

         The Entrepreneur can’t afford to have a big ego. Human are guided by two criteria, one
ecotarian, the other is utilitarian, Decision about the view we take, affects the type of world we
make.
         The utility maximization path leads to have formation of certain types of attitudes, as well as
to the creation of particular type of institutions. It tends to promote egotism and egotistical behavior.
This in turn, creates an attitude of arrogance towards other living being. In order to maximize his
utility, man would not mined destroying nature. As against this, the human minimization path leads
to a different attitude towards living being.

   Mr. Sharma’s two different approaches to the understanding of human actions.

       Utility Maximization------------ Egotism, ----------------- ---- Ecological Devastation,

                                 Win as much as you can             Pollution, Social degeneration




Humans




Human Minimization------------------- Compassion ----------------------- Eco-Friendly
                            Respect for all living being         Humanistic Development

      This implies to the upcoming & existence entrepreneurs, who should follow the core theme
of human minimization


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International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online),
Volume 4, Issue 5, September - October (2013)

3. SUSTAINABLE GREEN ECONOMIC GROWTH

         Every positive hope coming for positive economic growth is falling down gradually. Now the
world is facing some difficult situation created by developed countries.
         Today, world economy is unbalanced and the centre of this is developed and rich countries.
In 2008, the subprime debt of America’s Real Estate create the financial crises in the other
counterpart. And government of the respective countries used their Monetary fund. The problem was
solved by offering subsidies to the corporate sector(s). And in 2010, Economic Growth was almost
good, and sign for positive recovery was coming out from the dark. But year 2011 cleared all
scenario. International Monetary Fund was expecting that the International Economy Growth will be
4.5 % in this year but now the bench mark has been revised and its 4 % expecting now. And no one
is sure about this benchmark.
         To achieve this level, world is looking forward towards developing countries rather than
developed countries. According to IMF, the Growth Rate of the developed countries will be 1.6 %
for this year, and on the other side under develop countries will reach the Growth Rate up to 6.4 %.
         Today Monetary Fund is giving the same advice to all developed country what they used to
give to the country like India, Maxico, Brazil & Venejula. We can say that Sustainable Economic
Growth is needed to go for long.
         As we know that today, IMF is not much capable and strong to cope up with any Financial
Crises or Economic Fall Down. This problem is created by developed countries and the problem
relate to every rich countries. Now America itself having lots of credit at its back, unemployment
rate has been increased from 9 % to 9.5 %. He is importing much than exporting. And other
developed and rich nations are also having same frame. Japan’s Economy looking for helping hand
after having tsunami and earth quick in first quarter of the year. And complete Europe is having
crises in its Monetary Fund Block
         So Again the strong part of pressure is pushing forward into the court of developing
countries, for whom IMF already disclose his statement that these countries are expected to have 6.4
% Growth Rate in the current year.

4. STABLE ECONOMY FOR LONG PROFILE

        The Development full fill its definition when it comes with Soci-Economy equiv-balance and
getting reorganization by economic growth. Public-Private-People partnership is needed very mostly
to cope up with the environmental degradation and create the value for stable daily income.
Entrepreneurs should come forward to make the Green-Policy and give the important to this
Triplicate relationship.
        At this situation, every one is agree that instead of Economic-State Social misbalance and
Environmental digration will effect the more in future progress. As we know that, wrong Green-
Economic models are the reason behind all these international problem.
        The data coming from different-different part of the world, related to social misbalance is
really very surprising and worse in case. The reach person(s) around the world, who are 1 % in
numbers, are holding 43 % of the world’s inventory in their hand and another 50 % is having only 2
% inventory.
        According to UNDP Human Development report 2010, 1.75 billion people from 104
countries are in the condition of Multi-Dimensional Poverty. Apart from this, without considering
environment balance & value we are destroying Eco-System to get develop.
        According to UNDP Human Development Report, India is standing on 119th position an all
169 countries. Almost 421 million people are living Multi-Dimensional Poverty life. India is living

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International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online),
Volume 4, Issue 5, September - October (2013)

in village and based on agriculture. In this situation, Eco-changed will reduce our daily routine
income and Indian Food Inflation rate will increase from 9.34 to 9.75 or more than this in very short
period. So it’s necessary to increase our GDP & get the gradually increasing Growth Rate. How we
will do this binomial work together, long term economical policies are depend on this.
         Now it’s very crystal clear that the time is not to choose the favorable life style, its time to
search the solution for Sustainable-Economic Growth, so that Growth rate can improve absolutely,
this is possible when New & Fresh mind come forward with their innovative & Creative ideas who
can spring the world with positive result in multi-direction. Every common stock holder of our world
economy should come forward and join with each other to catch this goal.

5. DEVELOPMENT OF ENTREPRENEURS FOR GLOBAL-GREEN GROWTH RATE

        The power of end customer is most valuable, which can help a lot in the change of corporate
custom and social value. End Consumer’s are those who relates with the corporate like Government,
Controller & Consumer, customer, investor, employees and other social grades are also include in
the same.
        When the end customer will give the priorities to the business, which is environmentally
balanced and having high social values than new entrepreneurs will come who will change the
scenario completely under the consideration of Global-Green Growth.
        To understand this Global-Green Growth, we can have a small look of Fenland, a small
country having 54 Lack people population, Its more than 2000 companies Working on Green-
technology and globally established now. Its economy is now Green-economy and moving forward
to spread this Green-Model in the nation(s) who are adopting Green-Techno-Economy. Fenland is
doing business with America, Russia, Britten and developed countries but now having main focus on
country like India. Reason is very clear; India has taken very constructive and strong steps to protect
its Eco-System and going to invest $ 50 Lack Thousand on solar and wind energy in upcoming 10
years. More than 100 companies are already entered in India for Green Business and creating number
of job in the same field.
        This is one of the real example, to understand the value of Green-Economy, where the
economy of one country is completely based on Green-Technology.

6. CONCLUSION AND RECOMMENDATION

        Entrepreneurs are having many problems to overcome in establishing their business. Young
leader are increasingly occupy high position in International Politics, Education, Economics,
Government & Corporate field. This change is influencing the scenario completely that will change
the current work values and ethics. On the other side when aware consumer will give the priorities to
the Eco-Friendly product, which will help to develop the stable environment and social values in
business than Green-Thinker Entrepreneurs will increase in number Eco-Business will get strong.
        If we can combined the Policies, Exchange, Social and Corporate all together than market
would be managed to reach at stable Global-Green-Growth rate and constructing Social-Values will
be added in the core responsibilities of corporate policies.
        As and when Socio-Green business will develop new social entrepreneurs will come forward
and deliver their best to do the justice with their liabilities and responsibilities towards society and
next generation. This Forward-Next-Line-Up is going to play vital role in Global-Green-Growth.
        People-Lead-Project, Bottom-up Approach, Triple Bottom Line Performance, Repetitive
Incentive, Advertisement and aware abut the Green-Technology are some professional
recommendations which can add more value in future prospective business.

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International Journal of Management (IJM), ISSN 0976 – 6502(Print), ISSN 0976 - 6510(Online),
Volume 4, Issue 5, September - October (2013)

7. REFERENCES

      1. Subhash Sharma, Management in New Age: Western Windows Eastern Doors, 2008.
      2. Rashmi Bansal, Stay Hungry Stay Foolish, The inspiring stories of 25 IIM-A Graduate
          who chose to tread a path of their own making, 2008.
      3. Global Recession, Survival and Growth: Role of Management Education, Proceeding of
          the 7th International Conference Management, AIMS 2009.
      4. Mr. Y.C. Deveshwar (President ITC)’ annual speech in AGM-2011.
      5. UNDP, Human Development Report 2011.
      6. Mr. Upendra Prasad’ article published in Hindustan (Senior Editor: Hindustan Times)
          September 2011.
      7. International Business News Article, September 2011.
      8. Timoty Koller, “What is value-based management?” The Mckinsey Quarterly November
          1994.
      9. “A Global Initiative a Global Agenda” published by the United Nations Global Compact,
          March 2008.
      10. Prof. T A Venlatalachalam and Dr. G. Sivaramakrishnan, “Social Entrepreneurship in
          Indian Scenario”, International Journal of Management (IJM), Volume 2, Issue 1, 2011,
          pp. 58 - 60, ISSN Print: 0976-6502, ISSN Online: 0976-6510.
      11. www.financialexpress.com
      12. www.globalservy.com
      13. www.fens.coop/fenland_news.asp




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