Ecopreneurship – a new approach to managing the triple bottom line

Abstract

Purpose: The purpose of this paper is to extend research into social and ecological entrepreneurship. It aims to examine how ecopreneurs can create an economically viable business whilst retaining their core environmental and social values. Design/methodology/approach: An exploratory approach within the phenomenological research paradigm. Single case study of Green‐Works triangulating data collection – semi structured interviews, micro‐ethnography and document analysis. Inductive approach. Findings: A strong link is identified between entrepreneurialism and environmentalism. The entrepreneurial flair of the CEO enables the pursuit of environmental, social and economic goals. The success of the Green‐Works business model stems from the business's symbiotic relationships: firstly with large corporate bodies, which are keen to quantify their CSR efforts; secondly, with the community and social partners, who provide employment and training for disadvantaged people and a route to relatively risk free growth; and thirdly, with government and social institutions, which provide special concessions and support. The strong economic foundations of the model provide sustainability for the environmental and social objectives of the organisation. Research limitations/implications: Research restricted to one UK case study – a model that has evolved in part through policies and business trends specific to the UK. Further research should compare this business model with other social enterprises within the UK and other countries. Practical implications: Provides a practical framework for social and green entrepreneurship. Of interest to ecopreneurs and social enterprises seeking economic sustainability; to governments, wishing to promote CSR, environmentalism and social enterprise; and to corporate organisations wishing to demonstrate a quantitative contribution to the environment and society. Originality/value: Demonstration of natural fit between environmentalism and entrepreneurialism. Presentation of business model offering economic sustainability for environmental and social enterprises.