Essay on "How Would a Business Benefit by Going Green?"

Essay 7 pages (2298 words) Sources: 5

[EXCERPT] . . . .

Global Warming

Prospectus:

This document is designed to discuss the issue of global warming as it relates to business and society. This document will also discuss how global warming can be reduced through simple means. The document will also discuss why this issue is important to both society and the business community. In addition, a discussion on how both parties can benefit through the use of energy conservation is detailed in the document. The document will then conclude with a brief discussion on pitfalls of energy conservation. The information will be gathered from scholarly articles, textbooks, surveys, and the internet.

Saving the environment is an important aspect of both society and business. Business, particularly those that are global in scale are responsible for the communities in which they operate in. It is important that business understand the nature in which behaviors affect society at large. "Going Green" is one initiative in which companies can use to help preserve many of the planets resources. Being environmental friendly has many benefits for both the company and society. In regards to society, generations are better able to view and take advantage of nature. Natural phenomenons such as global warming and carbon pollution are reduced. Wildlife and the world's natural resources are preserved for other generations to use. All of which contribute to the well being of both society and the environment. From the business perspective being environmentally friendly helps serve two corporate objectives. First, it helps minimize the overall costs associated with operations. Sending email and electronic paperwork allows companies to save on paper and other materials cost. It also allows companies to be more accurate and minimize loss associated with human error. "Going Green" also provides an incentive for consumers to purchase the companies product. Research has proven that products that are connected with a cause generally sale more than those that are not. In particular, caused connected to the environment are of particular importance to consumers. As the survey indicated in the appendix, consumers are generally concerned with the well being of the environment as it has implications for the entire society in which they live. As such, by going green, companies can save money while also increasing sales. The problem is worth solving as society can be negatively affected by the environment in the long run. Global warming is a very large concern as it can damage society in terms of pollution, natural disasters, and drought. As such, this issue is very important to society at large.

Social responsibility is very important irrespective of the community in which business is conducted in. All stakeholder groups are benefited from the use of socially conscious behavior. For one, stock holders benefit as they doing good within the overall community. These sales numbers will therefore provide a solid foundation in which to evaluate the merits of a particular activity such as a merger, acquisition, dividend, stock buy back and so forth. Consumers benefit as they are not mislead in regards to purchasing decisions. If the company is truly acting in the benefit of the society, consumers will realize it. These activities builds trust as the brand will become synonymous with environmentally friendly behavior, further expanding the market share of the company. Because the environment is so important to so many individuals, more people will buy the product. This will then benefit the shareholders even further as more consumers purchase products from this trusted company. The community benefits as the company contributes to the community through the profits garnered from sales (Business, 2011). As such, all stakeholder groups benefit and flourish. Social responsibility is no different in this regard. Companies, especially during tough economic circumstances want to demonstrate their commitment to the communities in which they operate. Usually, these commitments translate into high sales figures and better customer loyalty. Social responsibility also engages associates on a personal level as they can volunteer and contribute to causes pertinent to their beliefs. These increases employee satisfaction which ultimately helps improve productivity. In regards to benefits, a company has many incentives to be socially responsible. For one, active participation in causes such as employee diversification and environmental sustainability are pertinent to ALL stakeholder groups involved. This also indicates that the corporation cares about its socially responsible behavior and has an extreme desire to make this responsibility a priority. For one, the company must express the importance of sound ethical practices and social responsibility to all stakeholders involved. This can be done in numerous ways such as the annual report, 10-k report, and 10-Q report, marketing campaigns, advertisements and more. The role of ethics in regards to social responsibility is that of trust. Companies must develop trust with each stakeholder group in order to be successful. By having a strong ethical grounding, companies are in better position to establish this trust. This trust manifests itself through customer loyalty which ultimately increases sales for the business enterprise (Francis, 2011).

As mentioned earlier, global warming is an environmental issue that is of particularly important to society. As mentioned above, society at large will be affected, if global warming is not addressed. The survey in the appendix also indicates how important this issue is to consumers. Energy is an important aspect of global warming and business. Populations are increasing rapidly. Emerging markets such as China and Brazil have rising middle classes. This presents problems as these increasing populations need energy to live and sustain them. As such, energy such as coal and petroleum-based products pollute the environment in which society lives. In regards to environmental sustainability, energy is a very contentious issue in the public domain. Many citizens, irrespective of geographic location want to abate their influence on petroleum-based products within their daily lives. Consumers, at the right price, instead want clean renewable energy. First this energy reduces the amount of damage to the environment and second, this energy is often times renewable. Investments in this industry will only further this ideal for both business and society as a whole. In many instances, developed countries waste a disproportionate amount of energy through routine activities such as bathing, heating a house, driving a vehicle, and so forth (James 2011). Below is a chart depicting energy consumption around the world in terawatts? Notice the increasing trend in all major forms of energy use.

Many of these forms of energy are not sustainable and harm the environment. CO2 emission is particular contribute significantly to global warming and harm the earth. Companies investing in renewable forms of energy therefore are seen as environmentally conscious. This reputation only enhances the companies' perception in the consumers mind. As such, this enhanced reputation will further contribute to sales and market share gains in the future.

Global warming has been a very contentious issue of late in regards to environmental health and safety as well. Global warming and its effects are far reaching. Society is affected due to higher frequency of natural disasters and drought. This again affects energy use, as more energy is expended on containing and abating the influence of natural disasters. Water became contaminated, theft and violence became widespread, and the environment was completely destroyed. Large amounts of energy therefore are required simply to create a city that was operational and self sustaining in Society. Part of this can be attributed to the global warming epidemic cause by CO2 emissions.

Agriculture suffers as warming creates a larger propensity for drought and forest fires. This ultimately affects Society as more energy is needed to help abate the fires influences on Society. Currently, global warming is coming to the forefront both politically and nationally. It is a very real problem, that can easily be solves through ingenuity and perseverance (Hansen, 2005).

Electric vehicles in particular will have a very profound impact on the overall climate as they help reduce emissions of harmful chemicals and gases. By having cars that are inefficient users of petroleum-based products, Society is contributing to the wasteful use of energy. As mentioned above, CO2 emissions can have a devastating consequence on society. By adopting cleaner energy sources such as electric vehicles, society can reduce its dependence on petroleum-based products while also become more efficient in regards to energy consumption.

In addition, another activity that consumes large amount of energy is excessive abuse of energy related activities. Our society is accustomed, for example, to leaving the lights on when the individual is not present in the building. Universities are particularly prone to this mistake. Campuses constantly leave lights on in classrooms that are either vacant, or not in use. Recreational facilities and student diners leave their lights on as well. This consumes excessive amounts of energy, while adding no benefit to the community or student population. This activity consumes massive amounts of energy that could otherwise be saved or allocated to other more beneficial endeavors. Another ubiquitous mistake on the part of consumers is that of water. Individuals constantly waste large sums of water by simple ignorance. Facets not being turned off completely, individuals taking… READ MORE

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