1.
Milin Rakesh Prasad
– Doctoral Scholar, Indian Institute of Management Ranchi, Ranchi, India.
2.
Rajasekhar David
– Assistant Professor (OB & HR) at the Indian Institute of Management Ranchi, Ranchi, India.
Abstract
Uncertainty defines entrepreneurial
markets, especially for sustainability-driven
start-ups. BluSmart Mobility,
India’s first all-electric ride-hailing
platform launched in 2019, illustrates
both the promise and risks of this space.
With ambitions to decarbonize urban
transport, the company expanded its
electric fleet, secured investor backing,
and introduced initiatives such as
Project Sakhi to enhance social
sustainability. Yet rapid growth exposed
vulnerabilities in funding, governance,
driver welfare, and ethical oversight.
This paper applies the 4V Model of Ethical
Leadership (Values, Vision, Voice,
and Virtue), to assess how BluSmart
navigated these challenges using secondary
data. The analysis examines tensions
between sustainability ideals and
financial pressures, the alignment of
vision with investor expectations, the
extent of stakeholder inclusion, and the
testing of ethical claims amid governance
lapses.
