Introduction
This assignment critically appraises two contemporary global issues that entrepreneurs face and the impact on their entrepreneurial activities at the international levels, using the case of Jarrad Morris, the founder of Fleet-e and PLUG Charging. This means that the paper highlights how climate change and environmental sustainability are relevant to Jarrad Morris and how they impact his international entrepreneurship endeavours. Furthermore, this report presents an insight into the effects of these issues on Morris’s business operations.
According to Jones, Coviello, and Tang (2019), Jarrad Morris has been mentioned as one of the most innovative entrepreneurs as he has built a reputable business known for its sustainable transportation. This has been revealed through Fleet-e, which deals in electric vehicle fleet management systems and PLUG Charging systems, charging stations for electric vehicles (Morris, 2021). Morris contributes to environmental sustainability through these business lines by addressing the excessive carbon from cars running on fossil fuels. In other words, Morris discourages combustion engines while encouraging electric cars. The report is structured to start with a critical discussion of international entrepreneurship before the issues of climate change and environmental sustainability are highlighted. After that, the implications of the issues to Morris are explored before presenting a conclusion of the work.
International Entrepreneurship
According to scholars, entrepreneurship is a process that involves the identification of opportunities and establishing them to make a profit through services and products sold to the market (Shane and Venkataraman, 2020). However, to identify and establish an enterprise, innovation must be highly considered alongside risk-taking for a profitable venture in an industry that has been explored or unexplored (McDougall and Oviatt, 2019). However, Knight and Cavusgil (2021) mentioned that entrepreneurs may only succeed through innovation and risk-taking alone if they become resourceful. Therefore, entrepreneurs’ innovativeness, risk-taking, and resourcefulness are considered critical aspects. On the other hand, whenever entrepreneurship is practised across national borders, it becomes international entrepreneurship, where entrepreneurs invest in many countries for a wider audience and profitability (Shane, 2019).
In the present-day economy, international entrepreneurship is vital in heightening economic growth by developing new products and services and creating job opportunities, hence, enhancing productivity and economic sustainability (Firnkorn and Müller, 2021). Apart from profitability and job creation, international entrepreneurship realises knowledge sharing through collaboration and partnership among local and international entrepreneurs (Alolaiwy et al., 2023). In contrast, international entrepreneurs face many challenges in their international business exploration as they forge into foreign markets with different cultures, preferences, and trade policies. Gubarevych et al. (2024) mention that culture presents norms, language, and practices that shape people’s preferences and affect foreign entrepreneurs in terms of communication, which extends to promotion and negotiation. These elements of culture, alongside diverse trade policies and currencies, become barriers to smooth business in the international markets (Liesch and Knight, 2020).
Similarly, the complexity of foreign policies and geopolitical instabilities also affect international entrepreneurs and pose many risks to their business endeavours. However, with the challenges, greater opportunities are at the exposure of international entrepreneurs, allowing them to leverage their advantages in the wider global market for increased profits. Therefore, the following are the characteristics of international entrepreneurship: firstly, international entrepreneurship involves the identification of opportunities in the international market and capitalising on the opportunities to create job opportunities, products, or services for profit (Muratori et al., 2021). An example is the case of Airbnb and Uber, which have collaboratively identified an opportunity in the international market and tapped it to offer digital platforms, linking customers with service providers in the international market (Bullock, 2023). Secondly, international entrepreneurs are defined by their ability to mobilise resources and establish networks of relationships across many national boundaries (Ghorbani et al., 2020). This means that international entrepreneurs can build partnerships and collaborate with other foreign firms and entrepreneurs to take advantage of the foreign supply chains and wider global market expanse (Bongiovanni, Kaspi, and Geroliminis, 2019). Finally, international entrepreneurs are characterised by their higher innovation and adaptability capabilities in response to global market dynamics, including heightened competition (Barra, 2020). This means that international entrepreneurs must be willing to innovate and customise products to meet various local market needs based on their cultures, as it increases competitiveness in the international market (Seddon et al., 2020).
Global Issues that are Relevant to Jarrad Morris
Climate Change
Regulations and Compliance Needs
According to Global Entrepreneurship Monitor. (2022), climate change is the alteration of the climatic conditions caused by human activities and characterised by increased temperature, unpredictable weather conditions, or extreme weather conditions. Due to the negative influences of climate change, regulatory policies have been put in place for firms to comply with efforts to reduce extreme weather conditions. The tight regulations built up by governing authorities mean the need to innovate and be creative among international entrepreneurs for increased competitiveness and profitability (Papa, Santo Zarnik and Vukašinović, 2022). For instance, the policies that discourage using fossil fuels have led to many clean energy firms springing up as more investors invest their money into sustainable energy solutions (Bloomberg., 2021). On the flip side, these policies impose extra costs and heavy administrative and financial needs on international entrepreneurs, especially for small and medium-sized firms with limited resources (Coviello and McAuley, 2019). This affects the competitiveness of entrepreneurs in the international markets where diverse policies and administrations are met.
Market’s Sustainability Demands
Due to the increasing awareness of climate change and its effects on humanity, governing bodies are creating policies for businesses to adopt sustainable business practices. For example, increased temperatures and the melting of polar ice have prompted policymakers to establish eco-friendly products and service policies that entrepreneurs should adopt in their business models (Onifade and Alola, 2023). Capitalising on this policy and trend, international entrepreneurs are encouraged to develop sustainable goods and offer cleaner services for a competitive edge while gaining a reputation in the global market (Firnkorn and Müller, 2021). Conversely, developing sustainable goods and services involves heavy investments directed to renewable resources and uncommon machines powered by green energy like solar or wind (Johnson, Rötzel, and Frank, 2023). Similarly, entrepreneurs require upfront investments in research work to explore unexplored nature and technologies for innovativeness and competitiveness (Etemad, 2024). As a result, climate change, through sustainable policies, heavily burdens international entrepreneurs and may cripple their business endeavours.
Risks Associated with Climate and the Needs for Resilience
Following the increased dire consequences of climate change, international and national governments have put up policies calling for proactive risk management and strategies needed to adapt to environmental policies (McDougall and Oviatt, 2019). This has called for increased innovation among entrepreneurs to stay resilient amid extreme weather conditions presented by climate change. Therefore, international entrepreneurs need to see these policies as opportunities to innovate and stay up in the international market regarding resilience (Oviatt and McDougall, 2019). For example, if entrepreneurs can ensure resilience in disaster management by developing risk mitigation strategies for climate change, they can positively benefit from policies on climate change mitigation. Whereas entrepreneurs can benefit from climate change mitigation strategies, they are exposed to many risks concerning global supply chains and cross-border business operations, which make businesses vulnerable (Gallego-Schmid et al., 2020). Increased insurance costs, property damage, and business interruptions due to hard weather conditions render businesses vulnerable across international borders.
Environmental Sustainability
Sustainable Resource Management
Following the risks associated with climate change, businesses have been forced to adopt sustainable business operations to stay competitive along with the cost-saving and efficient use of resources (Yolcan, 2023). Therefore, entrepreneurs should implement strategies that conserve energy, such as energy-saving machines and using renewable energy systems alongside waste reduction and recycling for increased resource utilisation (King, 2019). While shifting from traditional management strategies to sustainable operations, heavy investments are needed as most of the current technologies are expensive and require elaborate logistics, which are also costly (Kotchen, Rising, and Wagner, 2023).
Corporate Social Responsibility and Stakeholder Engagements
Ensuring environmental sustainability enhances corporate reputation while attracting more investors due to increased trust and loyalty in the brand (Nawaz et al., 2021). Similarly, customers and partners will be attracted by the reputation; hence, entrepreneurs can benefit from the increased attraction that strengthens relationships in the international markets (Delio, 2023). Yet adopting corporate social responsibility requires a serious investment of resources, time, and expertise, which can likely divert from meeting the core business goal (Fleischmann et al., 2023).
Innovation and Technological Solutions
While aiming at beating the negative effects of climate change through sustainable business operations, entrepreneurs achieve increased innovation and technological advancements that put them on the road to resilience (Cavusgil, Knight, and Riesenberger, 2020). Technologies like green energy sources and waste management machines achieve technological advancement for international entrepreneurs while seeking to cope with climate change. However, technologies are prone to failures, especially with limited expertise to properly handle and maintain them (Gubarevych et al., 2024). Therefore, international entrepreneurs face high maintenance and hiring costs, which may reduce their profitability.
Implication of the Issues to Jarrad Morris
Climate Change
Jarrad Morris is in a clean energy market, fostering clean transportation through electric car charging stations and fleet management, which is considered environmentally sustainable (Zahra and George, 2020). Considering this line of business, climate change has positive and negative implications for Jarrad. Following climate change concerns, Morris is well-positioned in the international market to spearhead sustainable transportation through electric vehicle charging stations; hence, the business is highly relevant in the context of climate change (Ivanova et al., 2020). Furthermore, while regulatory pressure is building in the business realm to reduce carbon emissions into the atmosphere, Jarrad Morris’s electric vehicle charging stations and fleet management systems have become relevant businesses with greater growth opportunities (Morris, 2021). However, while forging into more markets, regulatory requirements involve additional charges that can adversely affect Morris’s financial status (Ansah-Mensah et al., 2023).
Similarly, stringent measures towards fossil fuel pollution may mean increased costs for electric vehicle charging systems, which may also mean increased investment costs for Morris (Vanpée and Van Zeebroeck, 2022). Furthermore, this entrepreneur is well-positioned to leverage government incentives on clear energies to expand electric vehicle charging technologies in various local markets. Nevertheless, climate change presents risks such as supply chain disruptions and damage to transportation infrastructure that can directly affect Morris’s business (Kienzler et al., 2023). Finally, climate resilience business operations are exposed to Morris. Through such strategies, his business can be more resilient to climatic challenges and the challenges posed by market dynamics (Dechamps, 2023). However, Peace and Huber (2023) mentioned that resilience through technological advancement in the electric vehicle industry is likely to face uncertainties, which can build competitive pressure on Morris. This is due to the increasing battery technology, which may quickly alter the charging systems needed for different types of electric vehicles (Raimi et al., 2022).
Environmental Sustainability
By implementing sustainable business operations, Morris can gain a reputation for his flee-e and PLUG electric vehicle charging systems, which are needed for increased business within national and international borders (Knight and Cavusgil, 2021). This means that Morris can use environmentally sustainable policies as selling points to remain competitive in the market. However, as mentioned earlier, putting up sustainable operations involve huge capital, which may cripple Morris’s business in terms of financial performance and liquidity (McKinsey and Company, 2023). On top of this, sustainability in this context involves energy-efficient sources and utility, which are costly (Cavusgil, Knight, and Riesenberger, 2020). It means Morris has to incur extra costs to implement more energy-efficient electric vehicle charging systems and fleet management to remain relevant. Finally, due to Morris’s position in the global market, he can utilise advanced technologies and innovations to position himself as a pioneer in the electric vehicle charging industry concerning transportation (Morris, 2021). This is because his Fleet-e and PLUG charging business can drive innovation to global market leadership. However, many firms have not realised sustainability in the market; hence, they survive by greenwashing successful firms and diluting their trust (Vanpée and Van Zeebroeck, 2022). This is a risk that Morris may also face and may hinder growth in ten fast-moving global businesses.
Conclusion
This report has presented an elaborate analysis of the impact of climate change and environmental sustainability on the Fleet-e and PLUG charging business undertaken by Jarrad Morris as an international entrepreneur. While climate change is seen to have negative effects on humanity and businesses, it also presents opportunities that position businesses on the road to further their innovations and technology adoption. By embracing innovation and technologies, international entrepreneurs like Morris can achieve sustainability through actively investing in research to develop more technologies to reduce the negative impacts of climate change. Additionally, international entrepreneurs like Morris are experienced in establishing strategic partnerships with other investors globally to leverage incentives and funding to help grow. Moreover, international entrepreneurs must be highly resilient through proper risk management strategies to mitigate climate change and realise sustainable business operations. This includes prioritising transparency in business operations while ensuring proper corporate responsibility initiatives are implemented to build trust and credibility. Finally, international entrepreneurs must remain agile and adapt to the market dynamics alongside technological advancements to stay on the list of successful businesses amid adverse climatic conditions. Therefore, innovation and technological incorporation have been highlighted as strengths that international entrepreneurs can explore to achieve success concerning environmental issues like climate change and environmental sustainability.
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