Innovation and Entrepreneurship-Entrepreneurship and innovation, relates to sustainable business. For sustainable business, entrepreneurs must focus on producing green products or services, so to reduce the waste by using alternative energy sources. They must frequently go beyond what has worked in the past and seek new and different perspectives and connections. It is for this reason that businesses are increasingly forming relationships to other groups to engage them in thinking strategically about solutions and new venture opportunities.

1. ConceptPaper
Innovation and Entrepreneurship
1. Introduction
Entrepreneurship and innovation, relates to sustainable business. For sustainable
business, entrepreneurs must focus on producing green products or services, so to reduce
the waste by using alternative energy sources. They must frequently go beyond what has
worked in the past and seek new and different perspectives and connections. It is for this
reason that businesses are increasingly forming relationships to other groups to engage
them in thinking strategically about solutions and new venture opportunities.
2. Background
Addressing ecological and social concerns can create business opportunities that benefit
both the economy and society. Today’s world faces significant challenges and one of
them is environmental challenge, such as climate disruption caused by man-made
greenhouse gas emissions, causing pollution which is harmful and poisonous to all living
things. There are several ways that businesses are responding to these challenges. They
are collaborating with the other groups and are striving to create some innovative
business ideas that would help to save the environment and would be profitable as well. It
helps to address society’s concerns while providing profit-making opportunities for
business owners.
3. Action plan
An example of this is McDonald’s benefitting from collaboration with the Environmental
Defense Fund, which was one of the company’s harshest critics before their working
together. In consultation with the Environmental Defense Fund, McDonald’s has reduced
their use of materials in packaging, replacing polystyrene foam sandwich clamshells with
paper wraps and lightweight recycled boxes, replacing bleached with unbleached paper
carry-out bags, and making dozens of other packaging improvements behind the counter
in McDonald’s restaurants and throughout the company’s supply chain.
4. Benefits
Not only can green business practices and processes help protect the environment, they
may also help a company improve its bottom line. Companies that focus on reducing
energy consumption not only help the environment, but also reduce their costs in the
form of lower energy bills. Companies that emphasize the fact that they are attempting to
be environmentally friendly can gain the favor of like-minded consumers. As
environmental consciousness grows, consumers are demanding more green products and
services,