Question

Being a sustainable and environmentally conscious company is not only good for the planet, it is also a great way for companies to be more efficient, save money, and get an edge on the competition. There are many issues to consider when planning for sustainability, especially in a global environment where countries have vastly different laws as well as ecological concerns.

Discuss some environmental or sustainable practices you can adopt, or maybe you have already adopted (like carrying your own recyclable bags to the store or trying not to use disposable containers for food storage). Do you think these practices are worth the cost savings? Why or why not?

Answer 1

A company must be environmentally concerned and socially aware for being efficient in carrying out its activities which least harm the environment and are sustainable in their uses. These methods have many positive returns for the company like:

1. Good CSR( corporate social responsibility) - every firm working in the market has some of its duties like the CSR which they need to keep in mind while performing their activities. This enhances their goodwill in the market and also improve their performance.

2. Good disposal leads to positive externalities: when the manufacturing company efficiently deals with its it waste disposal and stubble, it on one hand improve its own working conditions as well as leads to healthy environment for its surrounding as well.

3. Lower costs for waste management later: later under any environment regulations, there would be no penality charged, nor any cost would be required to be incurred in the installation of any waste management plants.

4. More profitable: products which are manufactured through good means and methods, are sold with a better price than the usual eg organic products.

Therefore these methods will surely enhance the environment conditions, be sustainable and secure for future generations all the resources and also be profitable to the firm's.