Recognizing sustainability opportunities as the first step towards sustainopreneurship

Abstract

Environmental degradation and rising global temperatures have caused increasing pressure on politics and conventional businesses practices. Consequently, the Paris Agreement in 2015 and 2030 Agenda for Sustainable Development have opened doors to new sustainable business opportunities for environmental, social, and economic improvements. Due to recent developments, there are notable changes towards more sustainable business practices. One of those novel emerging concepts is sustainopreneurship. It is considered a business with a cause reconciling the ecological, social, and economic environment. The aspiration to pursue sustainopreneurship requires the recognition of a sustainability opportunity yet. Studies on the development stage where sustainability opportunities are recognized are scarce. Therefore, the purpose of this study is to investigate how individuals recognize sustainability opportunities as the first step towards sustainopreneurship. Several factors have been identified in existing literature assumed to be affecting this process.

The research method applied is a qualitative case study approach with multiple data sources. The interview guide was designed based on the operationalization plan to conduct online semi- structured interviews. Thematic analysis was applied to allow framing a rich and holistic picture of this novel phenomenon. The findings of this study indicate that the process of recognizing sustainability opportunities is affected by the factors of knowledge of the natural and communal environment, general threats and personal motives, altruism toward others, human values, and prior entrepreneurial knowledge. Prior entrepreneurial knowledge is assumed to take over the reinforcing role. Unexpected research results have revealed several sources of information for this factor.

The research contributes to the literature by supporting an existing model, presenting new insights into this phenomenon, and enabling prospects for future research. The practical contribution provides information about the importance of generating a profound understanding and experience required to recognize a sustainability opportunity. This research also presents indications for policies and education.