Entrepreneurship, Start Up, and Corporate Entrepreneurship in the Renewable Energy Industry

Entrepreneurship, Start Up, and Corporate Entrepreneurship in the Renewable Energy Industry

DOI: 10.4018/978-1-5225-3625-3.ch001

Abstract

Economic growth, development and grow in living standards as prosperity are associated with entrepreneurship. This chapter defines entrepreneurship as thinking and acting through a process oriented approach which starts with opportunity identification and includes the complete life-cycle of an enterprise. It should also give an overview of the entrepreneur and its main distinctive characteristics. Sustainable entrepreneur, ecopreneur, bioneer, entrepreneurial ecosystem are other specific entrepreneurship concepts that are analyzed and are close related to the renewable energy field. Last but not least the corporate entrepreneurship and its core element corporate venturing are analyzed. The main objective of this chapter is to understand what entrepreneurship and corporate entrepreneurship are and how an entrepreneur can contribute to society development in general, and to the promotion of renewable energy in particular.
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Entrepreneurship And Start-Up In The Renewable Energy Business Environment

In the last years entrepreneurship has become an inseparable part of the life for many peoples but only very few understand how important for the future of our planet entrepreneurship is. Entrepreneurship is increasing its popularity as more countries consider that it’s a main factor that could improve their economy. The EU Commission considers that entrepreneurship generates growth, creates new companies, opens new markets, creates new jobs and develops new skills and competences. EU is running the Horizon 2020 program that fosters innovation and entrepreneurship. Entrepreneurship represents an obligatory part of the curriculum in many business schools and is also promoted in accelerator or incubator structures. In the world famous entrepreneurs are global actors such as Richard Branson, Steve Jobs or Bill Gates, which have turned their dreams and their vision into reality. With their unconventional approach, with their creativity, with their innovations they changed the way on how people perceived the world and also the business. For a better understanding of the significance of this important phenomena we analyzed entrepreneurship with its various aspects.

The Origins of Entrepreneurship

Economic growth, development and grow in living standard as prosperity are associated with entrepreneurship.

The term “entrepreneurship” originates from the French term “entreprendre”, which means “undertaking a task” or “taking the matter into one’s hands”, or “taking the initiative to the bridge”.

If we are looking to the history we discover a lot of things that are related to the origins of entrepreneurship. The development of the society has deep roots in the Chinese, Roman, Greek and other cultures. The Chinese established a business related to the “silk road” that was more than efficient for 1000 years. The “silk road” was established in ancient China, 2000 years ago and was developed from Central, South and West Asia to Europe and Nord Africa. The Roman Empire implemented new ideas in constructions as bridges, canals and monuments. The monuments were huge in order to impress the public, but these have also an important practical utility as meeting places and stock market or stock hall.

From a scientific point of view, one of the first specialists who analyzed entrepreneurship was the economist Joseph Schumpeter. Joseph Schumpeter (1883-1950), the author of ”Die Theorie der Wirtschaftlichen Entwicklung” (The Theory of Economic Development), published for the first time in 1911, has brought a major contribution to the neoclassic school. In 1934 he defines entrepreneurship as the developing of new combinations of factors, as new products, new services, new row material sources, new productions methods, new markets and new forms of organization.

Economics and management theory didn’t analyze the phenomenon of entrepreneurship for a long time. However, in the last years more and more specialists have started to deal with entrepreneurship following the work of Schumpeter.

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