Sustainable Circular Economy in the Wood Construction Industry: A Business Opportunity Perspective
This study aims to explore the main drivers of recognizing a circular economy business opportunity. In this multiple case study with six entrepreneurs from the wood construction industry is a relevant part of the circular economy because its essential component is a sustainable and renewable material (trees/wood) that reduces carbon emissions. This study contributes to previous research by showing that six traditional drivers influence the entrepreneur’s recognition of business opportunities: environmental conditions, social capital, prior knowledge, systematic search, cognition and entrepreneurial alertness. Moreover, they are intertwined in the complex and processual phenomenon known as business opportunity. Furthermore, for the drivers of sustainable opportunity recognition, prior knowledge on environment and altruism are critical. The recognition of opportunity is not solely based on any of the individual drivers; rather, it relies mostly on continuous interaction with the network when the entrepreneur is creating a business opportunity.
Ville-Veikko Piispanen, Itä-Suomen yliopisto
Sini-Tuulia Suokas, Itä-Suomen yliopisto
Kaisa Henttonen, Itä-Suomen yliopisto
Hanna Lehtimäki, Itä-Suomen yliopisto
Potential beneficiaries of the results: Ministries, companies, research and development organizations and central organizations.