International Entrepreneurship on Renewable Energy Solution Provider.

Renewable energy sector in Bangladesh:

Renewable energy in Bangladesh comes from the unlimited resources that are replenished in the natural environment. Sun and the winds are the key resources that produce renewable energy in the home country. This sector is used for the generation of electricity, as well as a certain space for the entire water heating capacity. Non-renewable energy, in contrast to finite sources also analyzed in this sector. Bangladesh has the effective resources to represent the advanced operations and the specific planning in the renewable energy sector providers.

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Isenberg model:

From the Isenberg model, six components affect the performance of the business as an ecosystem to factor characteristics in certain or effective terms.

Policies, finances, culture, human capital, markets, and other sources are utilized to get the detailed era of the success. Enabling the policies and developing the range of institutional supports, the business will develop advanced practices in the future growth of the entrepreneurship system. The enabling of certain policies builds the venture markets’ trends in Bangladesh’s renewable energy sector.

Finance:  

Bangladesh provides microloans, angel investors, and venture capital for the operations of businesses that want to proceed with the entire functions in this country. Having an effective source of finances, the renewable energy sector in Bangladesh becomes stable. Bangladesh developed a renewable energy policy that mandates the entire sourcing of 10% of electricity from renewables by the year 2020. Various financial institutions, non-government organizations, and the renewable powerhouses in Bangladesh invest in the process of the renewable energy sector for long-term growth and advanced planning. Bangladesh stands at the corner and generates the most specific success areas towards the capabilities of the business. The total installed capacity of the electricity generation falls far short of its key target of 2000 MW.

Policy:

The government of Bangladesh has developed various institution that provides investment to the renewable energy sector and higher financial support through the development of research and development eras. The regulatory framework of Bangladesh depends on the policies and laws made by the government of the country. The objectives of the renewable energy policy of Bangladesh include to the harness as the potential of renewable energy resources as well as dissemination of the core techniques of renewable energy technologies. According to the law of ACT, to complete the transition away from the different sources, the renewable sector is very impactful.

In Bangladesh, the Sustainable and Renewable Development Authority ensures the security of energy to mitigate certain risks that are directly linked with the calamities of the natural environment and stemming from the global warming issue. Even the national energy policy of Bangladesh in 1996 built a higher level of growth for this sector in the current consumer groups.

Supports:

Bangladesh provides legal, accounting, and investment bankers who improve the strategic performance of the business and take reliable standards toward the applicable plans. Providing the education support of having a skilled and talented workplace, the organizational resources will be reliable in the core strategic elements. In the home country Bangladesh, various universities offer degrees of Master’s and the PHD programs in the sector of renewable energy. Even the renewable energy policy of Bangladesh mandates the entire sourcing of 10% of the electricity generated in the year 2020. The proper education and training of the workers relating to solar wind, and hydropower energies the presentation of the renewable sector becomes effective. It sets the end tire level of success and creates 2624 MW of the renewable sector in the current operations of the country’s economy. In Dhaka 2021, Bangladesh has the largest off-grid program related to solar power in the world, this education program offers lessons as well as experiences for the countries to expand access to clean and affordable electricity generation.

Culture:

The culture of Bangladesh is based on the multifaceted folk heritage. The government develops equal opportunities for citizens who relate to different religions and cultures.  Solar PV based on mini-grid projects are installed in certain remote areas of Bangladesh where the entire level of possible grid expansion is limited. It is the initiative to support the culture in Bangladesh all of these projects provide the grid quality electricity to the households and generate small commercial users encouraging activities in certain areas of the projects. The training about the energy solutions implemented in Bangladesh affects the economic growth of the sector.

Human capital:

The telecommunication and energy sectors of Bangladesh are stable terms that affect the business’s large operations and the development of human capital. By building higher human capital in which people can invest in solar PV or mini projects, the economy of Bangladesh has increased. The government of Bangladesh initiates various teaming programs that help to increase the organizational success and the reputation of the renewable sector of energy as the provider of economic growth. Bangladesh’s renewable energy sector possesses substantial potential for the entire deployment because it is estimated that nearly 7,500 MW of solar power can be rapidly added to the energy mix if adequate funding mechanisms like green bonds are directly engaged in the specific areas of the success. Currently, the government of Bangladesh aims to reach the target of 10% electricity generation by the sources of renewable by the year 2041. So, the proper fundings by the government help to reach this aim. In total share of the national energy consumption which is 3%, the hydro-solar as well as wind energy are the major contributors to the development of the energy sector.

Market:

The overall scenario of renewable energy consumption in the market of Bangladesh refers as there are total of 3% of the national energy consumption. The proper sources of wind, solar, hydro, biomass, and the industry of geothermal power are directly reliable to dress the possible activities that take place in the sector’s growth. Hydropower has a 60% rate, solar has 39.5%, and wind energy has a 0.5% rate of consumption to generate the effective sector of renewable energy in Bangladesh. For entry into the market, mergers and acquisitions are one of the best strategies for this sector Because this market entry method helps to generate a strong or effective relationship with the governments and raise the economic growth of the country.

Impacts on regional development, entrepreneurial attitude, and economic output:

Based on the certain impacts of the renewable energy sector on regional development, entrepreneurial attitudes, and economic outputs, Bangladesh adopted different policies that improve certain operations and take the valid areas of success. The overall sources of renewable sources maintain the properly regulated terms that address the familiar and specific operations. It is one of the major sectors that directly contribute to the economic growth of the country.

Regional development:

Nowadays, Bangladesh shares a percentage of renewable energy only 3% of the total energy ratio. It is the most economical country in the world that’s why it has an effective master plan to proceed with the operations of the energy sector. According to the analysis of the regional development, China is one of the most affected regions producing 31% of the global electricity from renewable sources. Bangladesh implemented energy solutions through solar, wind, bioenergy, and hydropower which affects large operations and leads the higher innovation in the change. Creating the 2624 Mega Watt energy by the experts, the organizational directions become familiar in the most strategic change.

Impacts on entrepreneurial attitudes:

In Bangladesh, for the renewable energy sector, “Green Entrepreneurship” is one of the most effective and the most reliable term. Green entrepreneurship has the potential to create a strong economic model, build new opportunities for the business promote sustainable development, and reduce the environmental impact of certain activities so the business will gain a higher reputation. To provide the proper support to the creating of new economic opportunities, promoting sustainable development, and reducing the environmental impact, the business approaches become familiar in the cleared or reliable activities. Need to manage the policies and take certain incentives, the promotion of sustainable business practices directly helps to lead the origination practices in the change. Power generated by renewable sources like wind, water, and sunlight produces harmful carbon dioxide emissions which leads to climate change and wildfires with poverty in terms of the valid areas of success.

The economic output:

At the present situation, the power generation capacity in Bangladesh is around 18,753 MW estimated as the electricity generation in the KWH per capita.

This energy infrastructure directly contributes to raising the gross domestic product of Bangladesh and improving its economic reputation. Higher the development of the energy sector, improving the funding operations, and the valuable growth activities of the business are the considered approaches that help to improve the business plans and take better directions. So, the economic growth of Bangladesh depends on the key incentives offered by the renewable energy sector as the key factor in the production of energy sources. Using the core resources. The renewable energy policy of 2008 set the goal of 10% in terms of renewable sources by the year 2020. From the renewable energy sources, the off-grid solar home system maintains greater activities that improve the gradational growth and reliable success.

Barriers to entrepreneurship:

From starting the small business of renewable energy sector providers in Bangladesh, some barriers affect the skills and the core capabilities of entrepreneurship. Limited access to funding, ineffective resources of human, the lack of strategic planning, and inadequate experiences related to the markets are the key barriers and threats that affect the large intensity of the business.

Limited access to funding:

Entrepreneurs face a major challenge while developing the renewable energy sector in Bangladesh. Limited access to funding is the major challenge for the business. In Bangladesh, there are various financial institutions and government agencies that support solar or wind power, but for a certain time frame, the limited access to funding decreases the behavior and attitude of entrepreneurs.

Managing the operations and proceed the change, the business roles become valuable. Less resources of funding affect the large operations of the renewable energy sector and decrease the strategic planning. Less resources of the funds decrease the general ideas and the efforts of the entrepreneurial to implement the start-up of renewable sources of energy in the boundaries of Bangladesh.

Lack of training and experience of the employees:

For the development of small businesses related to the renewable energy sector, the implementation of effective human resource management is the core strategy that addresses the valid areas of success. Building organizational success and generating effective HR problems, the management of the business will take the most specific operations. The proper experiences skills and talents among the employees of the company are required to implement better areas of success otherwise it creates barriers to management and entrepreneurship in this sector. So, in Bangladesh, there is proper training about the skills and experience of the workers required to manage the strategic reputation of the renewable energy sector.

Less effective strategic plan:

Another barrier that affects the performance of the business and the key attitudes of the entrepreneur is ineffective strategic planning. Developing an ineffective plan and addressing the strategic change, the business’ reputation decreases. In the market of Bangladesh, the renewable energy sector must be managed by a skilled and talented workforce that has the spirit to achieve the proper aim of the business. There is a proper strategic plan that boosts the organizational direction and takes the most useful operations in the core directions,

Inadequate cultural and market experience:

For the management of the business operations and the sector’s growth in Bangladesh, there is an inadequate experience related to the market that requires the generation of effective marketing efforts and improvement the certain decisions, the organizational changes will be taking place in the most organized work. Proceeding the change and adding the higher roles, the organizational facilities must be examined. Having the past and current information related to the market that represents the major changes, the adequate experience of the renewable sector of energy will take place.

Impacts of barriers on the ambitions:

All of these barriers impact the sector of renewable energy and the overall strategic performance of economic growth. The economy of Bangladesh, its key financial resources, and the overall reliance on the brand’s image are affected badly by the higher barriers to entrepreneurship. In the market of Bangladesh, the economic growth and the gross domestic product of the country depend on the effective resource stat initiated by the business’s large possibles. Examining the operations and taking the most valuable successes the business growth possibilities become valid in the cleared and the effective processing terms. To achieve certain ambitions of the business and generate a greater era of success, the organizational core capabilities become impactful. All of these challenges and the barriers to entrepreneurship impacts negatively on the performance of the business and the related industry regarding the perceived quality of the business terms. Various strategic reputations and the entire level of the business plans intake the referred areas of success. Renewable energy will improve the organizational strategic planning and manage the higher intentions toward the most valuable understanding of the business plans. This sector will improve the organizational preferences and manage the greater directions at take place the valid successful areas.

Entrepreneurial characteristics:

In the boundary of the businesses, different characteristics provide the proper planning to the people that initiate the working capable of the businesses. Entrepreneurial characteristics are the skills as well as the abilities that help or motivate to improve the learning and maintain the proper characteristics of the business. With the organizational directions and improved business plans, the firm’s activities will be reliable to take the higher or the most valuable directions in the most useful areas of success. Entrepreneurs retain certain key characteristics and effective traits to implement successful manners as initiating the business’s roles and proceed the current challenges. Understanding one’s strengths and weaknesses based on the established theories of the renewable energy sector can improve organizational plans. The skills, capabilities, and talents of the people in the entrepreneurship that maintain the strategic growth and boost the organizational learning facilities, the business roles become familiar in the strategic growth terms.

Individual characteristics:

For the examination of renewable energy security in Bangladesh and developing start-ups, the characteristics of individuals play an integral role. Creativity, opportunities, passion, risk takers, and innovation are certain activities that improve the organizational directions in the most adaptive or valuable; directions.

Creativity:

An individual must have the characteristics of creativity that force him to think differently. For the long-term growth of the business and to improve the organizational strategic planning, the individual’s behavior and the greater actions take the better opportunities.

Leadership:

 A mindful must have the skill of leadership that helps to manage the teams as well as the working practices of the business. The development of business owners shares many activities that improve the organizational directions and take the detailed eras of success. Leading the organizational behavior and managing the higher intentions, the business’s strong activities become family. To build the business owner and increase the organizational direction, the proper risk management strategies are taking place.

Vision:

An individual must adopt the skill of visionary thinking that helps to implement the policies related to the strong or effective aim. Visionary skill motivates employees and leaders to think about the future and manage the activities of the businesses that are reliable for a certain period of the business roles. Developing these transships the business to become a successful element in the country’s growth.

Bolton and Thomson’s theory:

The Bolton and Thomson theory, there is entrepreneurship that is put out by centers on the idea of identifying as well as seizing key opportunities. Application as the motivating factor, memory processes, attitude behaviorally, and the contextual and dynamic nature are the proceed activities that help to improve the business operations.

Entrepreneurs are the people who can sport the possibilities in the market and show their behavior according to the situation. The positive attitude of the entrepreneurs represents that they are happy or satisfied with the entire practices of the business. So, the success of a business depends on the attires that are emphasized by the entrepreneurs. Even businesses can take reliable advantages to improve organizational success and its relevant growth operations in the current environment.

Conclusion:

For initiating the start-up of the renewable energy sector in the boundary of Bangladesh, the characteristics of entrepreneurship, attitudes, and the analysis of the relevant market can be analyzed. With the help of the Isenberg model, the flexibility of the business, the policies, and the legislation system with the industry networks are analyzed in the current environment. The sector of renewable energy directly impacts the economy of the country affects business growth and takes the most useful areas of success. Managing the change and making higher progress, the organizational values will be diversified in the change practices.

Recommendations:

• By encouraging fair access to funding, the renewable energy sector provider of the Bangladesh market has increased. It helps to improve the financial performance of the business and generate the most effective reputation in the sector. For the higher success of business, fair funding access is one of the important methods.
• the government of Bangladesh should develop effective opportunities for the market and cultural training of the renewable energy sector. it is one of the most effective and the most valuable terms to address the higher success in the sector.
• The government should provide proper training to the workforce about the implementation of renewable energy sources for the betterment of the Bangladesh economy. To achieve the success of the renewable energy sector in the Bangladesh market, businesses should develop an effective strategy for talent retention and skill development. Building effective skills in the business’ boundary, the organizational commitment becomes reliable to enforce the procedures.
• The management of the sector should develop a proper strategic effective plan that helps to understand the data from the past resources and arrange all the steps of the current operations.  and analyze the future practices of the renewable energy sector. The evaluation of location independence and the affordability of the leadership impacts the sector’s growth.