A Functional Service Economy Green Business. Natural Capitalism. Eco-efficiency. An Eco-economy. These are terms used to describe the desired (and often purely conceptual) transformation of the private sector, from one of often flagrant resource use and disposal into a sustainable and ecologically concerned industry. ?The eco-efficiency imperative is based on the idea that companies must come to terms with the new realities of population growth, increased evidence of global warming, ozone depletion, loss of fertile soils and forests. These new realities will change the markets (customers' attitudes) and lead to tougher government regulation. This will change the bottom-line of each company now and increasingly in the future. Costs related to pollution will become staggering. Customers will ask for green products and they will even select companies on their proven ability to produce green products. Instead of waiting for government action and lobbying to get the right kind of action, companies must seek value creation through minimizing resource input. According to its proponents, eco-efficiency leads to economic and ecological efficiency. (Schot 1997). But what does green business really look like outside of the conceptual realm of sustainable development? Are there clear examples of profitable businesses that generate more revenue through environmental stewardship? In order to work within the bounds of capitalism and stewardship, green businesses need to address the irony threatening our world. Our country and world survives through consumption, but this consumptive lifestyle destroys the earth?s resources. Eco-efficiency, in order to be sustainable, applicable, and successful in consumers? daily lives needs to ans... ... middle of paper ... ...2 February, 2003. Patsula Media. ?Personal Planning Guidebook #79: Evaluating Renting, Leasing, Buying, & Financing Options?. The Entrepeneur?s Guidebook Series. 2001. http://www.smbtn.com/books/gb79.pdf. Accessed 6 May 2003. Sabatini, Jeff. ?Civic duty: saving the world, one convenient car-share at a time.? AutoWeek online. http://www.autoweek.com/cat_content.mv?port_code=autoweek&cat_code=carnews&loc_code=index&content_code=02770233 Posted 2 May, 2003. Accessed 5 May, 2003. Schot, J., Brand, E., Fischer, K. January 1997. ?Greening of Industry For a Sustainable Future: Building an International Research Agenda.? www.greeningofindustry.org. Accessed 6 May 2003. Vanderkooy, Zach. Personal communication. 5 May, 2003. White, Gerald, Ashwinpaul Sondhi, and Haim Fried. The Analysis and Use of Financial Statements. June 1997. John Wiley & Sons. 2nd Edition.
John Dallas Costa, Ethical Imperative wrote: "Not long ago the concerns of ecologists were as irrelevant to business planners as those of ethicists are today. “Green” has gone from being a disparagement to becoming a badge that no smart company would risk being without. Ethics are similarly en route to becoming a strategic imperative."
This rhetorical analysis essay describes how reducing carbon emissions that cause pollution and other harmful effects on the environment and the lives of the people can attain a clean environment. It is based on Andrew C. Revkin’s article Carbon-Neutral is Hip, but is it Green? This article explains how carbon-neutral companies reduce carbon emissions. The companies’ work is to estimate the amount of greenhouse gases that are produced by different bodies like big businesses, international banks and transportation sectors. The effects are then sold to these emitting parties who pay for projects such as algae fertilization and tree plantation that could absorb the emitted gases. The argument of the author of this article is in agreement with what most environmentalists claim.
Gibson, C. H. (2011). Financial reporting & analysis: Using financial accounting information. (12th ed.). Mason, OH: South-Western Cengage Learning.
1 INTRODUCTION All human activity, primarily business character, have environmental effects. The economic sector should recognize environmental management as one of its highest priorities. It is not possible to have an economy or a healthy society in a world with so much poverty and environmental degradation. Economic development can not stop, but need to change course to become less destructive. The political and business operations can play an important role in reducing the impact on the use of environmental resources through more efficient production processes, preventive strategies, cleaner technologies and production procedures throughout the life cycle of a product .
According to Christensen et al. (14+), sustainability on a global front leads to a reduction in cost. For instance, many companies invest heavily in commercials and other forms of advertisements. However, when a product is manufactured under favorable conditions, a strategic advertisement capturing environmental concern becomes far reaching and woes more customers to make purchase of the product. This reduces advertisement cost, which leads to an overall reduction in associated costs. A huge amount of research has shown that cost reduction by application of sustainable strategy is achievable.
Stuart Hart, in a business article, discusses the tough task for companies to make a sustainable global ec...
The way that many corporations around the world have been doing business has changed in past three decades. In 1969, the United States was the first country to implement environmental sustainability policies according to the Environmental Protection Agency. After this event, other countries started to create policies as well. What did this mean for business? As more policies were created, people slowly started to become more aware about environmental issues. Especially in the late 70’s to early 90’s, when governments started to create more policies and people started to create environmental movements. As people started to care more about environmental problems, they started to demand more sustainable practices by business. According to Nick Feinstein ...
Bansal, P. and Roth, K. (2000) Why Companies Go Green: A model of Ecological Responsiveness. The Academy of management journal, vol 43, no 4, pp. 717-736
“Business can no longer say that it exists simply to generate shareholder profit. Today, business aspirations reach beyond the financial dimension to encompass contributions to a broader set of societal goals, including those focused on environmental and social responsibility imperatives” (Jimena, 2008, p. 9).
For example, the trend of going green can be seen from outlets such as broadcast television, commercials, magazines, and posters (such as billboards). To demonstrate this point, there is an encounter with our awareness to turn off the lights before we leave a room, refrain from using too much hot water, and purchase energy efficient and other environmentally friendly products. These altruistic notions are playing an essential role for business’ to incorporate it into the producers’ and consumers’ environment. Also, transforming business’ atmosphere to go green in the workplace can aid in saving employers money (e.g., LED lights) while, simultaneously, benefiting the
From last few years there are plenty of good companies telling their environmental stories to the world and even some who are not but should be. Some do it well; others do not know where to begin or how to go about it. There are a few tips on what to look for by a customer who does not get greenwashed.
What is the socially optimum level of production keeping in mind the environment? How should it be achieved? It is at this point that the great economic minds of out time begin to take up arms. Michael Porter, a Professor of Business at the Harvard Business School claims that environmental regulation of businesses will actually give the businesses a competitive advantage over their counterparts in nations with less stringent regulation because it forces them to innovate. Porter claims that by changing their production processes, the businesses will actually lower their production costs (Porter, 97).
Unrightfully using "green" ideas to describe one's environmentally protective activities is extremely unjust if the business or organization is using it to benefit themselves or their profit. Using the environment to increase one's sales, money, or ego is an act of selfishness and is the exact opposite of what one is appearing to be.
Prakash (2002) article seems indicates that going green should not be inducted in firms as a management strategy because its ‘still in its infancy’ stage, its effectiveness is unknown (Prakash 2002 p. 295). Any strategy taken by the management should add value to a firm but unfortunately, Prakash outlines that the green strategy infantry stage subjects’ managers to go green due to lack of a suitable option to mitigate the pressure they are subjected to by institutions (environmental) and stakeholders who threaten to sabotage firms operations. In most cases, going green comes with added costs that should also be recovered and one way of recovering such costs is by changing prices or the product but still, this does not work as consumers are not ready to pay extra costs for green products or rather consumers’ attitudes (environmentalism) do not go hand in hand with their behavior (purchasing green products). Therefore, this makes Prakash discredit managerial efforts towards going green ‘promote products by employing environmental claims either about their attributes or about the systems, policies and processes of the firm that manufacture or sell them’ (Prakash 2002 p. 285).
In the context of green entrepreneurship, Gliedt and Parker (2007) argue that contemporary businesses are more likely pursuing business strategies intended to capitalize on environmentally sustainable products and services. As a result, some for-profit businesses perceive the notion of sustainability and specifically climate change as a business prospect to exploit (Hanson, 2005). Dixon and Clifford’s (2007) study found that “ecopreneurs” can operate an economically viable business whilst maintaining the core values that motivated the creation of the business. It can be concluded that being ecopreneur should have a business strategy that can create goods or services that have values for environmental