Chapter 1- INTRODUCTIONThe term "entrepreneur" is difficult to precisely define. Although dictionary definitions often talk of entrepreneurship in terms of organizing and operating a business, the original French term carries with it a sense of adventure and risk for the undertaking. Various English definitions of the term include the concepts of innovation, risk taking, and undertaking a new venture. In reality, what tends to set apart the entrepreneur from other business persons is the degree of risk taken in the new venture. By this definition, entrepreneurs may work within established organizations (sometimes referred to as intrapreneurs), or they may be independent, starting a new venture on their own or as part of a team.No matter which situation an entrepreneur finds him- or herself in, there are some activities that never change. Ideas and business plans must be developed, employees and projects must be managed, clients or customers must be attracted, start-up capital must be obtained, and continuing income must be generated. However, entrepreneurs also face challenges that are not typically a part of the everyday life in established organizations. The risky nature of their ventures means that marketing is often more difficult than with a proven product. Whereas established businesses can point to a proven track record of success, sometimes the entrepreneur can only try to sell an idea with the promise to work out the details in the future. A corollary of this problem is that the entrepreneur also tends to be more concerned with finding capital for running his or her business or developing a new product than the management of an organization with an established product would be. Particularly if the entrepreneur does not work for an established organization, financial backing for the new venture often must be found and won.The nature of the entrepreneurial organization brings with it a unique set of management problems separate from those experienced in more established organizations or those involved with less risky ventures. Entrepreneurialism tends to be defined by innovation, and innovation requires creative personalities. Such persons tend to require a different management style than those doing more routine jobs. The very abilities that are necessary to be a successful innovatorthe abilities to think outside the box and do things one's own waymake management of the creative individuals in an entrepreneurial organization more difficult. On the other hand, just as nature tends to move toward a steady state, so do organizations move toward financial security by taking high risks in the short term in order to become established and successful and take less risk in the long term. This means that as entrepreneurial organizations grow and become more successful, the paradigm of independent thinking and maverick tactics must change in order to promote the long-term sustainability of the organization. Since rebellion against established products and procedures is one of the defining factors of entrepreneurialism, entrepreneurs often find this transition difficult or even impossible to make.In addition, as social concerns and culture change, so do some of the hot topics in entrepreneurship. The Internet and easy access to high-tech communications have in many ways truly made the world a village, and the marketplace no longer needs to be limited to the local community; businesses can literally market to the world. However, one must be technologically savvy in order to maximize the potential of the high-tech tools available for marketing and communication. In addition, such global marketing opportunities also require an increased sensitivity to multicultural concerns in order to attract and maintain a client base.It is not only the rapid march of technology that impacts the lives of entrepreneurs. Social concerns of the greater culture also affect the purpose and organization of many entrepreneurial firms. For example, issues such as social entrepreneurship and the practice of being "green" are important considerations in success. In addition, researchers and entrepreneurs both continue to struggle, as does the rest of the business community, with questions about the different styles and success rates experienced by women and minorities.

Chapter 2- ECOLOGICAL ENTREPRENEURSHIPAn "entrepreneur" is someone who thinks of a new idea or opportunity in business and who takes the risks necessary to convert his or her vision into a reality. Entrepreneurs are absolutely essential to the forwarding of human progress. An ecological entrepreneur is someone who is driven not only by the possibility of making a profit, but is also driven by environmental and social concerns. They want to make the world a better place by improving the environment.One interesting thing about entrepreneurship is that it is a market-based approach, which encourages us to seek out positive rewards, mainly in the form of profit. Governmental oversight, the main way we address environmental issues, often involves punishing offenders in order to change people's approach to the environment. Ecological entrepreneurship is a reward-based approach to addressing environmental problems, rather than a punitive approach, and may prove more successful at changing attitudes and practices in the long run.Business practices fundamentally affect the business world, the environment and our lives. Ecology implies community, and ecological entrepreneurs understand the connections between their actions and the greater community as a whole. The field is socially important because ecological entrepreneurs are instrumental in reshaping the way we approach the environment and its relation to business.

2.1 Few Standout Ecological/ Social EntrepreneursWhile it is admirable to build a successful business of any kind, some entrepreneurs do more than just make a profit with the fruits of their labor. Some actually help others, bringing resources, opportunities, training, and other assets to those who need them most. These social entrepreneurs use their know-how and business savvy to make the world a better place, combining a traditional business model with a pressing social mission in ways that have been helping to make big changes in places around the world for decades. Here, I highlighted just a few of the standout social entrepreneurs whore showing that successful businesses dont have to just watch the bottom line and can truly be socially and environmentally conscious.Examples of greatest social or ecological entrepreneurs of all time are:1. Bill DraytonBill Drayton isnt just a great example of a social entrepreneur, he actually helped to define and promote the term itself. Drayton is the founder and current chair of Ashoka: Innovators for the Public, an organization that is dedicated to finding and helping social entrepreneurs around the world. Drayton spreads out his social entrepreneurship expertise in other organizations as well, working as a chairman at Community Greens, Youth Venture, and Get America Working! in addition to his duties at Ashoka. As of 2010, Ashoka Foundation has sponsored 2,145 fellows in 73 countries, some of which have gone on to develop leading social businesses that have made a huge impact on communities around the world.2. Jeffery HollenderIn 1988,Jeffery Hollenderfounded cleaning, paper, and personal care products company Seventh Generation. The company focuses on producing products that have a reduced environmental impact, avoiding the harsh chemicals that are part of many of todays leading cleaning and personal care products. In addition, the company donates 10% of pre-tax profits to funding nonprofits and businesses focused on the community, the environment, and responsible practices. Despite adhering to practices that many businesses claim limit profits, Hollender and his associates have built Seventh Generation into a major corporate force, bringing in over $150 million in revenue in 2010. Hollender was pushed out of his role at Seventh Generation in 2010, but that doesnt mean hes slowed down in social entrepreneurship. He helps with the American Sustainable Business Council, writes books on responsible business practices, and is a member of the Social Venture Network and founder of the Community Capital Bank.3. Ibrahim AbouleishEarly in his career, Ibrahim Abouleish was working in leading pharmaceutical firms in Europe, developing new treatments for osteoporosis and arteriosclerosis, but a trip to Egypt in the mid-70s would change that. He would leave Europe and move back to Egypt, founding the development initiative SEKEM (Ancient Egyptian for vitality from the sun). Abouleish hoped that by using biodynamic farms, schools and vocational training centers, a medical center, and trading company that he could not only help repair the environment but also the lives of the Egyptian farmers in those areas. SEKEM grows plants that are developed into herbal teas, fresh produce, and even organic cotton, which helps to sustain the other facilities it hosts. Abouleish has also played a key role in developing new chemical-free methods to process cotton and developing Egypts first private pharmaceuticals company. His business has been so successful that experts and ideas from it are being exported to South Africa, India, Palestine, Senegal, and Turkey.4. Bunker RoyIndian social activist and entrepreneur Sanjit Bunker Roy has helped thousands of people in Asia and Africa learn vital technical skills and bring solar power to their sometimes remote villages. Roy founded the Barefoot College, an organization which specializes in teaching illiterate women from poor villages how to become doctors, engineers, and architects. Whats more impressive is that each of the colleges campuses are solar powered and often built and designed by former students. In founding the college, Roys goal wasnt to make a profit for himself, but to help improve the economic production and quality of life of women throughout his native India (though some aspects of the project have spread to Africa as well). With women leading and running most of the Barefoot Colleges operations, its clear that hes been pretty successful in achieving that goal.

Chapter 3-GREEN ENTREPRENEURSHIPIn a rapidly economic changing world facing unknown climate change issues, Green Entrepreneurship offers a range of new opportunities for groups disadvantaged both in society and on the labour market. Young people looking for opportunities through to older workers looking up skill and have additional income in their 3rd age.Green Entrepreneurs need to be able to identify new opportunities and have a passion to follow their ideas through. The nature of Green Entrepreneurship means that those with entrepreneurial spirit have the opportunity to link new business ideas to a wide range of green issues.The Green Entrepreneurship will develop a range of innovative learning approaches and tools to help potential entrepreneurs think laterally, explore new ideas, problem solve barriers/challenges faced, seek out new opportunities and learn how to engage others to help their ideas become reality.3.1 Green Entrepreneurship Taking The Two Perspectives Green entrepreneurship can be defined from two perspectives related to the output (products and services) as well as the process (or production) of an economic activity. Entrepreneurs can enter into an overtly green business sector, providing green and environmentally friendly products and services (e.g. waste management). Alternately, green entrepreneurs can provide their products or services through an environmentally friendly process or with the help of clean technologies (e.g. eco-tourism). Usually, green entrepreneurs consider both aspects in their business models, creating additional decent employment through the use of more environmentally friendly processes, while reducing the overall environmental impact as a result of people or companies using the final product or service.3.2 Green EntrepreneursGreen entrepreneurs provide the hotbed for starting and sustaining a green economy by providing green products and services, introducing greener production techniques, boosting demand for green products and services, and creating green jobs.3.3 Green Entrepreneurs The Engine For Job-Rich Growth And Youth Employment SME-sector is indispensible for the countrys socioeconomic development. It is estimated that SMEs contribute more than 20% to the national GDP, while creating approximately 150,000 jobs. Green entrepreneurship can form an integral part in the fight against youth unemployment (currently standing at over 60%) due to the low entry-level requirements for young people in many sectors and their generally strong interest in innovative business solutions and sustainability considerations. In addition, the creation of new firms allows equal access in terms of gender and is not limited to urban areas where traditionally larger employment opportunities exist. Green entrepreneurship can also provide new employment opportunities to workers who are set free during the restructuring towards a greener economic model.3.4 Green Entrepreneurs Are Drivers Of Change Originating mainly from a level of technical innovation such as pollution reduction, clean production processes and resource efficiency, green entrepreneurship goes beyond the narrow technology-based aspects of doing business. It can nurture a culture of lifecycle-based thinking and stimulate green innovation at the societal level. In doing so, green entrepreneurs create a shift in peoples mindsets towards greener thinking and increased demand for green products and services, boosting the dual effect of employment and environmental gains.3.5 A Systemic Approach Towards Green Entrepreneurship Nurturing a (green) business culture and raising awareness amongst entrepreneurs about opportunities arising from environmentally friendly business models. Creating an enabling environment which promotes and encourages green investments and entrepreneurship. Supporting new and emerging entrepreneurs through the provision of business development services and other financial and technical support schemes.

3.6 Challenges Before Green Entrepreneurs a tendency for government policy to favour large businesses in the construction sector over small to medium-sized enterprises (SMEs); wide variation in the application of planning rules across different local authority areas that stifle innovation in sustainable building; risk averseness by banks unwilling to invest in green businesses and; a shortage of skilled labour capable of using sustainable building materials coupled with a lack of knowledge to incorporate new green technologies into buildings Currently training materials to stimulate Green Entrepreneurship training is non-existent, particularly in terms of the projects target group.3.7 Green Entrepreneurs Who Are Making a DifferenceFrom green real estate to hybrid limousines and reusable packaging to earth-friendly pizza delivery, green entrepreneurs are taking the business world by storm. Can you make money and make a difference at the same time? Absolutely, and the five "ecopreneurs" below prove it.

Here's a quick look at how these green innovators have created successful business models and what they're doing to help the environment. Who knows? You just might be inspired to start your own greenbusinessand become an ecopreneur yourself!1. Chris Bartle - Green Key Real EstateAccording to a May 2008 report by McGraw-Hill Construction and the National Association of Home Builders, the market for green homes is growing. Green homes are expected to be 12% to 20% of market share by 2012.A pioneer in the green brokerage business, Chris Bartle, President and CEO ofGreen Key Real Estate, is taking full advantage of that fact. He's not only a licensed eco-broker, he's also planning to expand his green brokerage firm beyond Northern California into other environmentally-conscious places like Boulder, Colorado; Seattle, Washington; and Portland, Oregon.2. Frederick Dunn - Dunn Rite Limousine ServiceFrederick Dunn runs a high-end limousine service. That might not sound like an eco-friendly profession but Dunn has turned it into one by incorporating hybrid vehicles into his fleet of luxury cars. It's been a boon to his business. Not only is he saving money on fuel, he's also catering to clients who prefer hybrids while reducing his business's carbon footprint. Dunn plans to convert his entire fleet to upscale hybrid vehicles in the future.3. Spencer Brown - Rent-A-Green BoxSpencer Brown's company,Rent-A-Green Box, makes reusable moving boxes called Recopacks from hard-to-recycle plastics. Brown disliked the idea of cutting down trees to make cardboard boxes that were used once and then tossed in the trash, destined for a landfill. Rent-A-Green Box, which he started in 2004, is now a multi-million dollar business, achieving the dual purpose of making money and reducing the environmental impact of packaging materials.4. Lyndon Rive and Peter Rive SolarCityThe two brothers behind the California-based companySolarCitycreated a program in which neighbors interested in solar energy could pool their resources and be eligible for discounts on solar panel installations. SolarCity has had resounding success branching out into the commercial and government sectors as well. The SolarCity mission statement sums it up best: "To energize our world with clean affordable solar energy. One installation at a time"5. Vaughan Lazar and Michael Gordon - Pizza Fusion, A Green FranchiseAnother green franchise that's deliveringliterally!is Fort Lauderdale-basedPizza Fusion, a fast-food delivery business specializing in natural sodas and pizzas garnished with organic veggies, cheese, and other healthy toppings. But more than that, business partners Vaughan Lazar and Michael Gordon have gone the extra mile when it comes to being green. Uniforms are made from organic cotton fabric, countertops are made from recycled bottles, and all of Pizza Fusion's paper products are 100% post-consumer paper. Even their buildings are LEED certified.

Few in Indian context:1. Rajaram Tripathi - Herbal HeroMaa Danteshwari Herbal Products, Kondagaon, Chhattisgarh From banking to farmingRajaram Tripathi has created a niche through organic herbal farming in over 1,000 acres land in his home district Kondagaon in Chhattisgarh. He quit his job as a bank officer in 2001 to take up farming. Tripathi received the prestigious Earth Hero Award 2012, instituted by Royal Bank of Scotland for biological diversity. Organic benefitsTripathi felt the prime reason why farmers had mounting debts was because of wasteful expenditure on pesticides and fertilisers. His group uses organic fertilisers made of farm waste, including leaves and cow dung. His farms also use bio-waste generated power. The group, comprising 200 tribal families, markets its produce with the help of Central Herbal Agro Marketing Federation of India. They have set up a herbal food supplement production unit and have an annual turnover of Rs 20 crore.2. Damji Prajapati - Feat of ClayEco-friendly birdhouses, Ahmedabad Rumble in the concrete junglePrajapati has been making earthen birdhouses for the past 10 years to encourage people to protect the natural habitat of birds. "The use of steel and glass in our buildings has reduced the availabilityof nesting sites," he says. Home with a differencePrajapati's birdhouses are textured in the form of a tree trunk. He has now received orders from real estate developers who plan to include it in their design schemes."I watch documentaries on birds that keep me updated about new technologies and informs me about innovations in this field."3. Anupam Jalote - Wealth from wasteGreen Oil, Delhi Practice makes perfectAnupam Jalote quit his job as senior vice-president at Bharti Airtel in 2008 to work on producing renewable energy and organic manure. He started Green Oil with wife Mamta, 43, in 2010. The company is based in Delhi but they source the waste material from Jaipur. Starting smallGreen Oil produces organic manure and sells it on a small scale under the brand name of Green Oil Karishma. The company is in the process of building a 1 MW power plant-which will be connected to the National Grid-in Samode village, near Jaipur. "It is like a sophisticated gobar gas plant that uses waste to produce bio-methane through anaerobic digestion," says Jalote. Rotten fruits and vegetables, cattle and elephant dung and other organic farming waste would be used to produce electricity. The company will also sell the by-product, organic manure. Plant for the futureJalote aims to build 10 power plants of 1 MW each in five years. The comany's current revenue is Rs 3 lakh-Rs 4 lakh a month. Last year, a Zurich-based company, LGT Venture Philanthropy, bought 30 per cent stake in Green Oil for $600,000 (Rs 3 crore). A lot rests on the Samode plant. Once it becomes operational, Jalote anticipates monthly revenue of around Rs 1 million from the sale of power and organic manure."We want to help farmers profit from their farming waste and reduce their dependence on chemical manure."

Chapter 4- LEGAL ISSUES AND THE ENTREPRENEURSWhile a lot of entrepreneurs at least have a basic understanding of the law, most of them fail to think about the legal implications of starting a company. 4.1 Here Are Some Common Legal Issues That Entrepreneurs Face:1. Is my business compliant?Corporate compliance affects companies in all types of industries. It is important to find out what type of records and other documents should be generated and maintained by your business. The laws, which apply to your business, will vary depending on a range of different factors, such as what type of business entity you are and what state you do business in. As a result, its usually important to consult with an attorney to ensure that your company is compliant with any federal and state laws that might apply to you.2. What business structure should I use?There are multiple business structures available and using the best structure can be critical to ensuring that your company is successful. For instance, are you interested in having your company go public in the future or do you want to remain a private company? Are you planning on taking on investors or will you be privately funded? What type of growth do you predict your company will have in the future? The answers to all of these questions will lead to structuring your company in a variety of ways.3. How should I avoid legal problems with employees?Generally, every company should limit their liability as much as possible before taking on any new employees. Typically, company owners should have an employee handbook in place and ensure that all new employees sign an acknowledgement form stating that they received the handbook. The handbook should address everything from the companys sexual harassment policy to the office dress code.4. Am I properly protecting my personal assets?It is always important for a company owner to keep their personal and business assets separate. The best way to do this is to maintain a separate business bank account and only pay for business-related items and expenses from your business account. In the event that a creditor sues you, they may be able to seize your companys assets if they were purchased using your personal funds.5. How should I structure a partnership agreement?Many new companies fail due to the fact that there never was a well-written partnership agreement in place that spelled out the duties and obligations of each partner and covered all issues that could have arisen in the future. For instance, will the partners agree all company decisions on unanimously or by majority rules? How much equity will each partner have in the company? How will company assets be split up in the event of dissolution? All of these issues and many more must be tackled and addressed in a comprehensive partnership agreement at the outset of forming the partnership.6. Am I properly protecting my business name?A large amount of companies begin using a name only to find out that another company has already been using that exact same name. A company should usually do a trademark search on the web to ensure that a business name is available. An attorney can help you register your name as well as a logo and assist you with protecting against anyone infringing on your intellectual property.7. What should I do if I get sued?In the event that your company is sued, it is ideal to try and settle a lawsuit prior to going to court. An attorney can use their negotiating skills against an adverse party and work towards settling with them and saving your company the risk of going to court and potentially losing your case. In the event that a case cannot be settled, its best to consult with an attorney on the best strategy for winning your case in court.8. Should I use a non-disclosure agreement?If your company is looking to share propriety information with another company with the intent of potentially forming a joint venture, then it might be appropriate to have a non-disclosure agreement in place. It is important to make sure the non-disclosure agreement is very detailed and lays out exactly what proprietary information will be shared. Otherwise, you might risk losing valuable work to a competitor and cause major setbacks in making your company a success.9. Are oral contracts enforceable?Although its a common misconception, oral contracts may be enforceable. However, there are some contracts that are governed by the Statute of Frauds, which is a collection of statutes requiring certain contract to be in writing. For instance, under the Statute, which has been adopted in most states, agreements to pay anothers debt, contracts for over a certain amount of money, and contracts that last longer than a partys life must be in writing. In general, which oral contracts may be enforced, contract law doesnt favor oral contracts since theyre often difficult to prove.10. Do I need an attorney or can I do it on my own?Sometimes, you might perceive a legal problem to be small when in fact the problem can potentially impact your business in ways that only an attorney can foresee. While you can certainly read up on a particular legal issue if you have the time, its best to consult with an attorney who can anticipate various legal pitfalls your company might encounter.4.2 Governmental Support To The EntrepreneursThe government currently has less regulations that it needs in order to implement the policies it needs to if India wants to be known as a green superpower. The government can be a neutral arbiter and help industries and research institutions with purchasing the R&D. This can be counted as an investment. It should be done in exchange for a) partial ownership rights, b) oversight rights to ensure proper conduct and c) legally binding agreements in terms of deliverables and technologies.In exchange for government support the companies that will be formed would be partially beholden to the government. This is a good thing and should be encouraged. The government can and should give production and taxation benefits. These government benefits are what the international organizations would back as signs of their commitments. They will act as an intermediary in the entire transaction, acting as investment midwives in the early stages. This will encourage quick spreading of any innovation into new markets.The government can also help by attaching restructuring conditions to loans given to troubled or black industries. These will encourage them to seek out new avenues to turn themselves green, which is exactly the sort of demand side boost that entrepreneurs need. With the environment stoked as such and the government playing an active part in this transaction, the market creation should be smooth.

Chapter 5-SOCIAL AND ETHICAL RESPONSIBILITY OF ENTREPRENEURS

5.1 Business Ethics: A Brief DefinitionEthics is the branch of philosophy concerned with the meaning of all aspects of human behavior. Theoretical ethics, sometimes called normative ethics, is about discovering and delineating right from wrong. It is the consideration of how we develop the rules and principles (norms) by which to judge and guide meaningful decision-making. Theoretical ethics is supremely intellectual in character, and, being a branch of philosophy, is also rational in nature. Theoretical ethics is the rational reflection on what is right, what is wrong, what is just, what is unjust, what is good, and what is bad in terms of human behavior. How we see 'ethical behavior' - in terms of what is right and wrong - is guided by these definitions.Business ethics (also corporate ethics) is a form of applied ethics or professional ethics that examines ethical principles and moral or ethical problems that arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations.Business ethics can be defined as written and unwritten codes of principles and values that govern decisions and actions within a company. In the business world, the organizations culture sets standards for determining the difference between good and bad decision making and behavior. In the most basic terms, a definition for business ethics boils down to knowing the difference between right and wrong and choosing to do what is right. The phrase 'business ethics' can be used to describe the actions of individuals within an organization, as well as the organization as a whole.There are three parts to the discipline of business ethics: personal, professional, and corporate. All three are intricately related. It is helpful to distinguish between them because each rests on slightly different assumptions and requires a slightly different focus in order to be understood. We are looking at business ethics through a trifocal lens: close up and personal, intermediate and professional, and on the grand scale (utilizing both farsighted and peripheral vision) of the corporation. In spite of some recent bad press, business executives are first and foremost human beings. Like all persons, they seek meaning for their lives through relationships and enterprise, and they want their lives to amount to something. Since ethics is chiefly the discipline of meaning, the business executive, like all other human beings, is engaged in this discipline all the time, whether cognizant of it or not.5.2 Social Responsibility: A Brief NoteSocial responsibility is an ethical ideology or theory that an entity, be it an organization or individual, has an obligation to act to benefit society at large. Social responsibility is a duty every individual or organization has to perform so as to maintain a balance between the economy and the ecosystem. A trade-off always exists between economic development, in the material sense, and the welfare of society and the environment. Social responsibility means sustaining the equilibrium between the two. It pertains not only to business organizations but also to anyone whose action impacts the environment. This responsibility can be passive, by avoiding engaging in socially harmful acts, or active, by performing activities that directly advance social goals. This shows the various ways that companies can invest in being socially responsible and the value those actions can bring to the company.A report suggests that social responsibility is a way of conducting business through balancing the long-term objectives, decision-making, and behavior of a company with the values, norms, and expectations of society. Social responsibility can be a normative principle and a soft law principle engaged in promoting universal ethical standards in relationship to private and public corporations.Companies can demonstrate social responsibility in a myriad of ways. They can donate funds to education, arts and culture, underprivileged children, animal welfare, or they can make commitments to reduce their environmental footprint, implement fair hiring practices, sponsor events, and work only with suppliers with similar values.Social responsibility in business is also known as corporate social responsibility, corporate responsibility, corporate citizenship, responsible business, sustainable responsible business, or corporate social performance. This term refers to a form of self-regulation that is integrated into different disciplines, such as business, politics, economy, media, and communications studies.5.3 Entrepreneurship V/S Ethics And Social ResponsibilityEthics and social responsibility are very important values in entrepreneurship ventures. This is particularly essential in decision making process. Ethical conscience reminds entrepreneurs to make trustworthy and profitable entrepreneurship decisions. Likewise, the social responsibility component sought entrepreneurs to make entrepreneurial decisions that can enhance benefits and repelling harms to the stakeholders.The entrepreneur must establish a balance between ethical exigencies, economic expediency, and social responsibility. A managers attitudes concerning corporate responsibility tend to be supportive of laws and professional codes of ethics. Entrepreneurs have few reference persons, role models, and developed internal ethics codes. Entrepreneurs are sensitive to peers pressure and social norms in the community as well as pressures from their companies.While ethics refers to the study of whatever is right and good for humans, business ethics concerns itself with the investigation of business practices in light of human values. The word ethics stems from the Greek ethos, meaning custom and usage. Development of Our Ethical Concepts Socrates, Plato, and Aristotle provide the earliest writings dealing with ethical conceptions; earlier writings involving moral codes can be found in both Judaism and Hinduism.Ethics and social responsibilities of an entrepreneur is certainly an important issue considering the role of social responsibility in society and ethics in business. Social responsibility is beneficial for business community and at the same time for global community. Social responsibility is significant owing to the realism of globalization. The people of the universe are becoming interconnected more owing to the advancement of technology, transportation and communication. The world market economy is affecting not only services and goods but values and ideas as well. Expansion on the global front, enhancing regulatory omission and the factors which is responsible for creating awareness regarding the significance of making for sectored, macro and operational hazards to both an organizations and entrepreneurs competitive position and reputation. As small business owners and entrepreneurs, activities which harm the people and the planet, will spoil the scope for your profits. For this reason there is great significance for triple bottom line which is profits, planet and people.The world economy requires innovators and entrepreneurs to both advance and sustain global community. While ethics and social responsibilities of an entrepreneur and businesses undertake the plan and consider social responsibility a vital event in their activities, everybody benefits. The effect could be noticed within local communities and ultimate profit making from their business. With the extension of cooperation for businesses, governments and NGOs, they encourage in the matter of corporate social responsibility and entrepreneurship and take steps to improve the mechanism for its potential growth. Therefore, in regards ethics and social responsibilities, an entrepreneur has to become aware about his role and strive to obey them in perfect manner which would be beneficial to him as well as the community as a wholeAn entrepreneur is actually running his own business and being a businessman he has some obligation of a business to meet his economic and legal responsibilities. Social responsibility is basically a business intention, beyond its legal and economic obligation to do the right things and act in ways that are good for society.While we are talking about the business ethics, there are three things that need consideration:(1)Avoid breaking criminal law in ones work related activity(2)Avoid action that may result in civil law suits against the company(3)Avoid actions that are bad for the company image.For example, an entrepreneur made a chemical that looks like a pesticide and he started selling it like a pesticide in the market and earns the profit, this act is against the law.5.4 Link Between Ethics And Social ResponsibilityYou will probably note the link between business ethics and corporate social responsibility (CSR).The two concepts are closely linked: A socially responsible firm should be an ethical firm An ethical firm should be socially responsibleHowever there is also a distinction between the two: CSR is about responsibility to all stakeholders and not just shareholders Ethics is about morally correct behaviorHow do businesses ensure that its directors, managers and employees act ethically?A common approach is to implement a code of practice. Ethical codes are increasingly popular particularly with larger businesses and cover areas such as:* Corporate social responsibility* Dealings with customers and supply chain* Environmental policy & actions* Rules for personal and corporate integrityExample of Dr. Verghese Kurien Amul IndiaAmul grew from strength to strength thanks to the inspired leadership of Tribhuvandas Patel, the founder Chairman and the committed professionalism ofDr Verghese Kurien, who was entrusted the task of running the dairy from 1950.Leaders of Indian industry could contribute significantly to corporate social responsibility by adopting the methodology followed by Amul.He recalled that Amul had pioneered inclusive growth through work with dairy farmers at grass-root level, changing lives, enhancing income, empowering women and at the same time reaping benefits to the business.Companies through adoption of shared value concepts could tackle challenges of poverty and malnutrition in India.Minister of Heavy Industries and Public Enterprises Praful Patel has said India is a fast-growing economy with enormous entrepreneurial skills.Leaders of the industry endowed with correct mindset had the potential to become world leader in harnessing CSR for inclusive growth and sustainable development.

5.5 Sachar Committees SuggestionIn 1978, the Sachar Committee laid the emphasis that the companies should not ignore their social responsibility and publish social accounts in annual accounts. The acceptance of concept of social responsibility must be reflected in the information and disclosure that the companies make available for the benefit of the shareholders, creditors, workers and community. It was suggested that as far as possible social report must be cast both in quantity and monetary terms. The committee also felt the need that the board should also report on the future plans of the company it has made, to discharge its social responsibility and duties.

CONCLUSIONWhen the risks are too large, then even if the payoff is immense, people wont want to take it. This means that if we want the next wave of Indias entrepreneurs to tackle the climate change challenge the problem is more than one of finding the correct opportunities. The problem is one of creating the kind of environment that encourages people to take up those opportunities.We need to bring more entrepreneurs into the field. The necessity of technological innovation in order to solve the environmentalism problem is undeniable.In the modern world people can no longer expect large enterprises to guarantee them jobs for life. Individuals are increasingly expected to seek out their own opportunities, actively create value and behave ethically, rather than faithfully follow rules and routines set by others. In particular, today's young people need to learn to be enterprising, both when working for others and when setting up their own businesses. Being enterprising involves taking responsibility for decision making, becoming increasingly self reliant, pioneering, adventurous, daring, dynamic, progressive, opportunist, ambitious and holding your values, as well as being able to initiate ideas and see them through into action.

REFERENCESBibliography: Baumol W. J. Entrepreneurship: Productive, Unproductive, and Destructive.The journal of political economy1892: 893921. Print. Blundel Richard, and Lockett Nigel.Exploring Entrepreneurship: Practices and Perspectives. Oxford: Oxford University Press, 2011. Print. Westhead Paul, Wright Mike, and McElwee Gerard.Entrepreneurship: Perspectives and Cases. Harlow: FT Prentice Hall, 2011. Barry, J., and Doran, P. (2006) Refining green political economy: From ecological modernisation toeconomic security and sufficiency,Analyse & Kritik, 28, 250-275. Beveridge, R., and Guy, S. (2005) The Rise of the Ecopreneur and the Messy World of Environmental Innovation, Local Environment, 10(6), 665-676. Broome, J. (2007) The Green Self-Build Book: How to Design and Build Your Own Eco-Home, Green Books: TotnesWebliography: http://www.cbi.org.uk/pdf/climatereport2007summary.pdf http://www.raeng.org.uk/education/vps/pdf/Engineering_a_low_carbon_built_environment.pdf http://www.foe.co.uk/resource/reports/greenest_gvt_ever.pdf

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