Comprehensive Exploration of Ecopreneurship Principles for Sustainable Business Practices

Abstract

Ecopreneurship is about producing environmentally friendly products and technologies, where innovation and market orientation align with sustainability and ecological awareness. Ecopreneurship is important because environmental innovation is a potential competitive advantage. However, there are still many parties who do not know, understand, apply, and practice the principles of ecopreneurship properly, which can create sustainable businesses. No comprehensive research on ecopreneurship principles has been conducted. The purpose of this study is to comprehensively explore the principles of ecopreneurship for sustainable business practices. This research uses a library research method using critical analysis techniques. Researchers review various reputable references that discuss ecopreneurship, then conduct an in-depth analysis of ecopreneurship to find its principles. After many ecopreneurship principles were discovered, these ecopreneurship principles were then categorized into main principles. The research results explain that ecopreneurship concept is based on three pillars, namely: innovation, concern for the environment, and long-term sustainability. The research results found 28 ecopreneurship principles which were categorized into 6 main principles: environmental principles, business principles, ethical principles, benefit to society principles, circular economy principles, and sustainable principles. By implementing ecopreneurship principles comprehensively, it will contribute to community development (through the benefit to society principles). This will create a circular economic model (through the circular economy principles), so that it will increase sustainable business (through sustainable principles). This research can be used as a practical recommendation for entrepreneurs and policy makers, and it is hoped that future research areas can investigate how the principles of ecopreneurship are applied in various industries.