Profitability of Environmentally Friendly Companies
BSBA- Financial Management
Corporations that have an eco-friendly philosophy are rewarded with greater profits.
The Environment and your business
The benefits of an environmentally friendly business
Value of Being green
Make your business environmentally friendly
Support to help your business go green
Background of the Study
A “green” business strives to have a positive impact on the environment and community. It develops and practices business strategies that go beyond regulation and demonstrate commitment to a healthy and sustainable future. A green business adopts principles, policies, and practices that improve the quality of life for its customers and employees. Our environmental and ethical plan not only makes us a more efficient business, it contributed a net benefit. For years, companies have wrestled with the question of whether environmentally friendly business practices created enough financial value to justify investing in them. Those questions remain for many organizations as a fragile world economy demands prudent stewardship of company currency. From a business point of view going green might not always appear to be economically efficient, but in many cases companies will have no option since government policy and subsequent legislation will compel them to follow certain lines of action. There will obviously be costs involved. Buying eco-friendly equipment, packaging and materials can be expensive. Initial costs can be higher, even if the variable costs work out cheaper in the long run. Light bulbs are a good example. Environmentally friendly bulbs can cost three times as much as conventional bulbs, but they last much longer. The initial cost can be offset by long-term savings, provided the company stays in business for long enough to reap the benefit.
Local and small businesses have also seen a boon in business from choosing the “green” route. They choose greener office spaces and fixtures and then boast about those choices in their marketing materials to help bring in foot traffic. The facts are clear: going green increases profits. If you haven’t yet chosen environmentally friendly measures for your business, now is the time to get with the program. Here are a few things you can do within the next two weeks to increase your company’s “green score”. Switch to LED light bulbs and install motion sensors for spaces like bathrooms and storage
rooms that aren’t used very often to help save on electric costs. Contact one of the major tablet manufacturers about supplying your work force with tablets so that you can take steps to make your office a paper-less office. Switch from disposable break room supplies to reusable (ceramic mugs instead of paper cups for example) and set up a kitchen cleaning schedule.
Significance of the Study
Companies have strengthened their commitment to sustainability as the benefits become more apparent (and the alternatives more untenable). Just as natural resources are becoming scarce and costly; customers, employees and investors are increasingly environmentally-conscious. Championing sustainability allows businesses to align deeply with their missions and engage customers on a more meaningful level. Promoting your environmentally friendly methods can set your business apart from your competitors and attract new customers who want to buy products and services from an environmentally friendly business.
This study guides you to make your business environmentally friendly. This is also giving tips that will help your business go green. Running an environmentally friendly business helps you reduce your impact on the environment...
Please join StudyMode to read the full document