Eco Friendly Business Practices Can Create Opportunities For Innovation

Global warming, along with other ecological concerns have made environmental health a national and global issue in every industry. The social, governmental and economic pressures have created the need for companies to develop eco-friendly business practices while maintaining efficiency. For decades, scientists and environmental groups have been warning industry, consumers and governmental leaders about the drastic effects of pollution and the depletion of natural resources. However, only recently have companies begun to recognize the opportunities created when implementing strategies to address environmental concerns. Traditionally, business leaders regarded the environment and natural resources as unlimited factors of production that were readily available at little or no cost. Today, the concerns about pollution and the need for the efficient use of resources are forcing companies throughout the world to reevaluate their operations in order to become more ecologically conscious while remaining competitive. Fortunately, due to creative problem-solving and a greater understanding of eco-friendly business practices, companies are discovering that they can satisfy environmental concerns, while simultaneously cutting energy costs, boosting productivity and promoting innovation. The recognition of eco-friendly business practices as win-win opportunities are encouraging more companies to undertake these initiatives. Conversely, those organizations that aren’t eco-friendly and fail to address ecological concerns will forgo the opportunities for positive change and suffer financially in the long run. As future environmental managers and industry leaders, engineering and technology students need to understand the benefits of eco-friendly business practices. Consequently, it is important for their academic programs to provide students with an understanding of environmental health and related concerns. This paper will describe how companies can use eco-friendly business practices as opportunities to promote innovation. The paper will identify the benefits to business organizations and the environment when eco-friendly business practices are implemented.