Environmental issues have gained a certain form of gravitas over the last decade; carbon regulations have risen to the forefront of American public thought despite the grand collapse of the Senate climate change bill and the toothless failure of the much-hyped Copenhagen climate negotiations. This is regrettable but not surprising – large shifts and culture cannot simply be mandated by the state. Just as the business sector drives the economy, it must also serve as the catalyst for this new green movement to extend into our everyday lives. They have strong reason to as they can demonstrate corporate responsibility and improve their profit margins in one go.
THE MOVEMENT TOWARDS CORPORATE SUSTAINABILITY
Another reason for a business to incorporate green technology into its business plan is to broaden its public appeal and boost its commercial image. The perception of being environmentally hazardous is now a major marketing disadvantage. Corporations across the board now face enormous public pressure to reduce their carbon footprints; a failure to comply usually results in public backlash. This is most clearly illustrated through the public department chain store Wal-Mart, which at the turn of the century faced negative media attention and publicity because of its overzealous expansion policies. These policies sought to erect new Wal-Mart Superstores in many less-developed areas, resulting in urban sprawl and high amounts of air and water pollution. Those issues, along with several public lawsuits and its documented negative impact on small businesses, effectively solidified Wal-Mart's perceived role as the villain of the business sector. Wal-Mart's PR representatives in 2004 circulated the famous "McKinsey memo" that advised the company to "take public leadership on a broader societal issue" in order to improve its image. Since then, Wal-Mart has embraced technological green initiatives like processing zero waste and operating on only renewable energy. In July 2009, Wal-Mart announced that it would invest in a computerized carbon labeling system that would analyze the environmental impact of each product it sells. Suppliers that were not environmentally friendly would "not have a relationship with Wal-Mart for very long," according to Wal-Mart CMO John Fleming. These steps have resulted in Wal-Mart's distinction as one of the "Greenest Big Companies in America" by Newsweek and awards from organizations like the Aspen Institute and Conservation International. Its public perception has healed over the past few years behind the strength of its green remedy, making it more competitive in achieving its economic goals. While the nature of Wal-Mart's actual environmental impact is still contested today, the fact still remains that Wal-Mart has taken a strong public position in reversing the damage done to the earth and the environment, undeniably assuaging the morals of its consumers.
The first reason for companies to integrate green technology into their daily operations is to increase their efficiency and cut costs. The calculation is simple: conserving resources and scaling back on costly environmentally-intensive materials saves money. The sales company TeleArk demonstrates this almost perfectly through their innovative new energy waste reduction programs designed in January 2010. The company's chief initiative is to have all of their employees, including the president, telecommute from their homes instead of constantly traveling to a central set of offices. Telecommuting, the process of working from home through different mediums of online communication, has numerous benefits. It slashes increasingly costly office-related electricity and fuel costs; it conserves land usage and creates less non-recyclable waste; and perhaps most importantly, telecommuting greatly curbs gasoline use and related costs from the physical commute.These methods all cut costs for managers and employees, but they are also extremely environmentally sound: cutting back on public land development and lowering the amount of carbon dioxide fumes emitted greatly diminishes the company's carbon footprint. TeleArk has coupled this new, socially responsible approach with other technological innovations, such as the mandated use of digital contracts and the use of web communication programs like GoTo and Skype, that put the company on the cutting edge of online customer outreach and employee interaction. This solidifies TeleArk's distinct competitive advantage vis-à-vis the rest of its sector because it can use its green surplus to hire more employees and expand its business into more regions than ever before. Using green technology has not only given TeleArk a critical strategic business advantage, but also strengthened its commitment to a cleaner future.
INCREASE EFFICIENCY AND CUT COSTS
In the 21st century, "going green" has become a mainstream phenomenon. Heavily subsidized by governments, developers from around the world are pouring millions of dollars into clean and sustainable technologies. Alternative energy in the form of solar roofs and wind farms have revolutionized the natural resource industry, while green city planning and development have expanded from the fringe to become the status quo. Especially in the last several years, we have seen considerable initiative from the business community to "go green." Businesses all over the world have taken the lead on this pressing issue, ratcheting up their efforts to develop efficient green technology. Even the construction industry, once the bane of the environmental community, has adopted a new planning program called the Leadership in Energy and Environmental Design (LEED) that has standardized building design and standards to make structures sustainable and energy-efficient. All of this begs the question: Why? The answer is simple: it just makes sense. Greener companies, such as the online sales company TeleArk and the public retailer Wal-Mart, have proven that implementing green technology can be beneficial not only to the health of the planet but also to their bottom line. Corporate responsibility and environmentalism aside, the results have shown that every business should incorporate green technology into its business plan for two strategic reasons: increased efficiency and better public perception.
August 04, 2012 | Business Sustainbility | Kevin Kim |
A Green Advantage: How Sustainability Strengthens A Company's Bottom Line
A Green Advantage: How Sustainability Strengthens A Company's Bottom Line - PSR
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