ENTREPRENEURIAL FORECASTING IN GREEN ECONOMY

Martin Dolinsky 1

ABSTRACT
Numerous scientific works are describing new entrepreneurial circumstances caused by the
dissemination of triple bottom line of sustainability principles into daily life of industries and
consumers. In this matter, the clear distinction between Ecological and Environmental
economics or between Green economy, Circular Economy and the Economy for the Common
Good is not that important for the purposes of this paper. We could find a common principle in
all enumerated concepts, which would be, in our opinion, environmental friendliness bounded
together with economic efficiency and responsibilities towards society. From this point of
view, it is much more difficult today to start a good business than it was during the belle
poque period. Cost effectiveness is simply not enough! Entrepreneurial mind must be also
environmentally and socially centred. New phenomena like Industry 4.0, Web 2.0 and CSR 2.0
bring into forefront new managerial challenges as they evoke cooperative attitudes in
situations that used to be fully competitive. Industry 4.0 presumes empowerment of
customers bargaining powers, customer willingness and opinion will gain greater importance,
whilst B2B boundaries in knowledge sharing will be disappearing especially at the beginning of
the value chain when the product is being designed and tested. Web 2.0 changes parameters
of cooperation, todays cooperation differs from yesterdays cooperation in its extent. SMEs
located in Pomigliano DArco in Italy, supplying aerospace industry, are mutually having access
to real-time information about their production process Facebook for companies. More
cooperation automatically presumes more human interaction. Besides rapid change, there are
business needs that remain steady for decades. An entrepreneurial wisdom tells us, that there
will always be the same need to foresee the future. The challenge posed by Industry 4.0
questions our abilities to apply extrapolation techniques in situations when there are no
numeric data. This paper attempts to sketch solutions to a question how to predict results of
interactions in cooperative relationships we use game theory for that.
Keywords: Game theory, Extrapolation techniques, Interactions in brown-field revitalisation

Martin Dolinsky, Department of Economy, Pan-European University, Tematnska 10, 851 05 Bratislava ,
martin.dolinsky@sustainability.sk

Sustainable Development Symposium | 6th annual European postgraduate symposium | 1