Track: Entrepreneurship and Innovation
Purpose – The paper aims to explore the co-existence between environmental sustainability and business profitability based on the Ecological Modernization Theory. The study seeks to reconstruct theory through inductive analysis. Methodology – This research uses a qualitative approach with grounded theory method. Data was collected through in-depth interviews with five young ecopreneurs engaged in the restaurant business sector. Data collection was done in Greater Malang region where most informants originate and live. The research subject or informants were selected purposively in which certain criteria have been determined previously by the researcher. After conducting a data validity procedure, the data was then analyzed by theme and interactive analysis technique. Findings – The results of this study strengthen the Ecological Modernization Theory. However, the research findings identify the significant role of Social Modeling. This study also formulates three important concepts related to “Influencing Factors, Inhibiting Factors, and Strategies” that underlie the co-existence of environmental sustainability and business profitability. Research limitations – Due to the chosen research approach, the research results may lack generalizability. Therefore, researchers are encouraged to test the proposed propositions further. Practical implications – The paper discuss implications for ecopreneurs in developing strategies to minimize waste while at the same time increasing business profit. Originality/value – This paper fulfills an identified need to investigate how entrepreneurial profit orientation could align with actions toward environmental sustainability in the context of restaurant industries in Indonesia.
Ecopreneur, entrepreneurship, qualitative, Ecological Modernization Theory