HOW CAN COMPANIES BECOME

MORE ECO-FRIENDLY?
The term "green business" was coined near the close of the twentieth
century in response to growing public concern about the long-term viability
of economic development. The latter was sparked by a growing awareness
of environmental challenges such as the rapid depletion of natural
resources and degradation of environmental quality. While the present
"green movements" can be traced back to the middle of the 1960s, it took
over 20 years for the business to adapt to "greening" trends and
incorporate them into its ideology and practice, coining the phrase "green
business" to do so.
However, the substance of the green business notion remains vague today,
as evidenced by the wide range of definitions available from various
sources. Furthermore, green business practices are still far from being
widely embraced and implemented by businesses around the world, with
noticeable variances in company penetration of "green" ideas in different
nations. This is due to several factors, one of which is that "greening of the
company" is still often viewed as an additional expense (in terms of
increased costs or revenue loss), and the other is cultural, political, and
economic variations between countries.
Before moving towards to actual topic let us first know about what is
actually eco-friendly and green business.

ECO-FRIENDLY:
Environment friendly processes, or environmental-friendly
processes (also referred to as eco-friendly, nature-friendly, and green),
are sustainability and marketing terms referring to goods and
services, laws, guidelines and policies that claim reduced, minimal, or no
harm upon ecosystems or the environment. 
Companies use these ambiguous terms to promote goods and services,
sometimes with additional, more specific certifications, such as eco-labels.
Their overuse can be referred to as green washing. To ensure the
successful meeting of Sustainable Development Goals (SDGs) companies
are advised to employ environmental friendly processes in their
production. Specifically, Sustainable Development Goal 12 measures 11
targets and 13 indicators "to ensure sustainable consumption and
production patterns".
The International Organization for Standardization has developed ISO
14020 and ISO 14024 to establish principles and procedures for
environmental labels and declarations that certifiers and eco-labelers
should follow. In particular, these standards relate to the avoidance of
financial conflicts of interest, the use of sound scientific methods and
accepted test procedures, and openness and transparency in the setting of
standards.

Why it’s Important to Become Environmentally

Friendly?
Going green has numerous benefits at homes, in the workplace and to the
economy at large. Different people across the planet are trying to come up
with ways of going green by eliminating the use of plastics to growing
organic foods. It’s no doubt that if we make the planet eco-friendly, we
could significantly achieve multiple benefits.
The advantages of going green can fall into three major categories: 
 Economic
 Health
 Environmental Benefits

Economic benefits
Going green has a big economic benefit in that it reduces costs and saves
money. Renewable energy helps to reduce energy usage, which helps to
save money on electricity bills. As the cliché goes, "prevention is better
than cure," and minimizing pollution is less expensive than trying to clean
up pollution once it has spread.
Going green also decreases reliance on diminishing resources such as
fossil fuels. Organic farming helps the economy by allowing us to eat
affordable local, organic, and seasonal produce. Another economic benefit
of going green is that it contributes to the strengthening and stimulation of
the economy by creating job opportunities.
Use of green and renewable energy also helps reduce the emission of
carbon dioxide to the environment which helps reduce carbon footprints.

Health Benefits
The second set of the benefit of going green is the improved health it
provides. Going green minimizes pollution in the air. You will agree with me
that inhaling clean air improves one's health.
According to World Health Organization (WHO) research, air pollution
causes around 2 million premature deaths worldwide each year. It is indeed
depressing. As a result, striving for green living is critical. At work and
home, a healthy person is more productive. Purchasing environmentally
friendly household and cosmetic goods is one way to go green. It
decreases the number of pollutants and contaminants in the air we breathe.
Going green minimizes air pollution and environmental chemicals that can
wreak havoc on our bodies' immune systems, making us more susceptible
to diseases and severe illnesses.
Another benefit of going green is that it reduces the amount of pollution
emitted into the environment. We can reduce the number of pollutants
discharged into the environment by choosing a green means of
transportation or purchasing environmentally-friendly vehicles. It purifies
the air we breathe, making it clean and pollutant-free. Breathing pure air is
beneficial to one's health. Going green also aids in the preservation of
rainforests, which act as air cleaners. Food grown organically is also
healthier because it is free of toxic chemicals, pesticides, and other
pollutants.
The health of our environment has a significant impact on the quality of our
food and, ultimately, the health of our bodies. Consuming polluted water or
food tainted with chemicals, such as vegetables exposed to acid rain or
eating seafood contaminated with heavy metals, can result in fatal diseases
and illnesses.
Environmental benefits
The environmental benefits of going green are obvious, but there are
numerous environmental benefits to going green. Organic farming
promotes environmentally-friendly farming practices and land use. Organic
farming reduces greenhouse gases output and hence lessens air pollution.
Going green can aid in the preservation of rainforests and, as a result,
animal habitats and ecology.
The loss of the ecosystem that delivers nature goods and services for all
living things indicates that we may lose the many natural powerful products
including those that could offer humans health benefits.
Becoming green at work has several advantages, one of which is that it
helps to protect the environment if we adopt paperless office practices by
going digital. It helps to save trees that would otherwise be cut down and
used as raw materials for paper production.
Going green at home has the added benefit of reducing waste. When we
reuse or give our unwanted items for recycling, it helps reduce waste
products that could have otherwise ended up in incinerators and landfills.
Free property that was once earmarked for landfills and incineration
facilities might now be put to better use. In short, going green helps to
create a healthier environment for all living things, both now and in the
future.
Green living is critical because if we don't, our lives could be jeopardized if
we don't have access to clean air, food, or drinking water, or if we are
exposed to harsh climate changes and temperatures that can lead to global
warming and life-threatening illnesses. We can significantly reduce the
impact of extreme temperature and climate changes that could be caused
by global warming if we strive for green living.
You and I may look forward to a cleaner environment and a brighter future
with greener earth. We are more likely to be healthy, live longer, achieve
our life goals, and enjoy our relationships with our loved ones if the air,
environment, and food are of higher quality.
Green business
 Brown and Ratledge adopt quite a narrow definition of green
business as:
“An establishment that produces green output”
 Meanwhile, Makower and Pyke, in a broad brush way, state that
“A green business requires a balanced commitment to profitability,
sustainability and humanity”
 The Business Dictionary indicates that green business is
“A business functioning in a capacity where no negative impact is
made on the local or global environment, the community, or the economy”,
and further adds that:
“Green business will also engage in forward-thinking policies for
environmental concerns and policies affecting human rights”
 G. Croston states that
“Green Businesses have more sustainable business practices than
competitors, benefiting natural systems and helping people live well today
and tomorrow while making money and contributing to the economy”.
 K. Slovik proposes an amalgamation of environmental sustainability
demand with that of social responsibility:
“A “green business” can be defined as an organization that uses renewable
resources (environmentally sustainable) and holds itself accountable for the
human resource aspect of their activities (socially responsible)”
All of these definitions are attempting to encompass a broader impact
range of economic actions, not only those that are "green," i.e., related to
the environment. The obligation of dedication to the environmental
considerations is here complemented by the imperative to honor human
rights and to contribute to the well-being of current and future generations
while maintaining the economic sustainability of the business itself.
This approach blurs the lines between "green business" and "sustainable
business," the latter term referring to businesses that are economically,
socially, and environmentally sustainable.
  In this perception, “greening” of business is part of a long-term
strategy of becoming sustainable, i.e. being able to achieve business
tasks in the way that does not develop any threat – economic, social
or environmental – for both current and future generations.
What is it to be green?
While it is true that being green in business normally entails some
additional costs, it can also result in actual economic benefits and
enhanced profitability. By "becoming green," a company can gain two types
of benefits:
 Revenue rising
 Cost saving
Revenue Rising
Product differentiation and brand image, customer communication, added
value, and higher productivity all contribute to increased revenue. By going
green, a company sets itself apart from the competition and gains a
competitive advantage. Customers are well aware that they purchase a
thing not just as a commodity but also as a set of visual links.
A green brand appeals to retail buyers that want environmentally friendly
products and services. The willingness of consumers to pay more for a
green product suggests that they see it as having greater value. However,
for customers to recognize a green brand, it must be properly
communicated or, in other words, sold.
Green marketing (also known as sustainable marketing, organic
marketing, and environmental marketing) is a term that refers to a product,
service, or way of life that it promotes rather than a marketing strategy. It is
about marketing ecologically safe or said to be safe items, and it is
centered.
Employees who work for green businesses are happier with their jobs and
are more productive. Finally, by going green, a company can improve its
future networking opportunities with other green businesses looking for
partners who share the same values.
Cost Saving
Waste utilization and input sparing are the key sources of cost savings.
Practices such as generating heat through waste incineration, reducing
paper usage in favor of electronic communication, shutting off electrical
appliances when not in use, and others provide cost-cutting opportunities.
Furthermore, green business practices are thought to make workplaces
healthier and safer, allowing a company to save money on sick time.

Green Marketing:
Within the modern market system, green marketing is gaining traction. It
aided businesses in co-branding products into a new line of business
known for environmentally friendly goods and services. Green marketing,
according to Polonsky J, is an activity that aims to meet developing human
wants and aspirations while reducing the negative consequences on the
environment. Environmental marketing or ecological marketing are other
terms for green marketing. Because resources are diminishing by the
second and human need is growing by the minute, it is critical to limit
resource waste to maintain the environment.
Environmental challenges are influencing business practices, and many
establishments are embracing eco-friendly marketing techniques to obtain
a competitive advantage as corporations began to regard environmental
issues as requiring strategic changes. Companies, in response to the
growing number of environmentally conscious consumers, began selling
green products to demonstrate their efforts to avoid the dumping of
dangerous products into human life and the environment. Culture, social
features, personality traits, psychological state, and economic issues will all
impact a customer's purchasing behavior.
Green marketing has accelerated the environmental performance of
products and services by creating customer demand for green products.

Business going green

Becoming green is a multifaceted process; there are various practices that
can be applied when business wants to shift to a green behavior. Broadly
speaking, an environmentally aware business should participate at least in
one of “4Rs” – reduction, reuse, recycling, and recovery. Each of those “Rs”
can be achieved through several practices, some of which might serve the
purpose of more than one “R”.
“R” as reduction has a twofold:
 Reduction of resource consumption
 Reduction of waste.
The reduction of energy consumption, for example, by replacing incandesc
ent lamps with energyefficient compact fluorescent bulbs that save up to 75 
percent of energy, or simply by turning off electronic appliances when they 
are not in use, is an example of the first type of practice. Some businesses 
propose printing on both sides of the paper or printing only the most import
ant documents to preserve forests.
Green packaging could be used to achieve one or both of the following red
uction goals:
 Some companies minimize the volume and weight of packaging
 Some strive to reduce packaging waste.
 Some companies have started using degradable, natural or
organic
ingredients for their products.
 Companies might also apply the “product stewardship” policy. It
means that the manufacturer is responsible for waste reduction,
recycling, and the use of renewable materials.

The Ecolabeling
Green branding, also known as green or environmental labeling, aims to
take advantage of market forces by informing consumers about a product's
environmental profile, such as its ecologically-friendly manufacturing and
residual disposal procedures, recycling potential, and consumption quality.
There are various advantages to delivering this type of information to
customers:
 Consumer attraction
 Public standing
 Brand awareness
 Improvement opportunities.
 Consumer attraction refers to how a firm can pique a consumer's interest
in environmental issues and build a purposeful demand for a specific sort of
goods by telling them about the environmental benefits of the product.

Setting a voluntary eco-label

There are two ways of setting a voluntary eco-label: it can be self-declared
or obtained through the already existing environmental labeling scheme.
 A self-declared environmental label is a statement, a label, or a
symbol that calls attention to a specific aspect of an organization's
activities, products, or services that has the potential to impact the
environment. A claim like this can be found on the product or
container itself, as well as in any accompanying marketing materials.
Any party that stands to benefit from such a declaration — producers,
importers, distributors, or retailers – can issue one. The parameters
used to demonstrate a product's environmental friendliness are
determined by the firm.
 Another alternative is to employ current eco-labeling programs
like Mobius Loop, Green Dot, Fair-trade, and the Marine Stewardship
Council. This method could save time and money in the process of
developing a new eco-label, with the added benefit that such
schemes, because they are run for a good cause, are seen as more
trustworthy than commercial claims.
From a financial standpoint, all labeling schemes incur costs for changing
operations, auditing, and informing customers about what they are and
what they represent. The good news is that when you hold that label, you'll
make more money.
There are a lot of "small" green initiatives that can nonetheless help
businesses go green. Some employers, for example, encourage their staff
to take public transportation instead of driving their automobiles to reduce
air pollution or to refuel after 6 p.m. when gas fumes are said to be less
detrimental to the environment.
Other “green” practices include:
 Waste sorting
  Organizing seminars about “green business” and environmental
protection
 The rule of not smoking in the office
 Participation in environmental actions
It should be mentioned that the number and details of green business
measures taken by businesses are determined by a company's ability to
adapt its operations to be more environmentally friendly.
A business may be unable to "become green" for a variety of reasons.
Companies, for example, may simply not know how to go green or consider
"greening" as a costly fad that drains resources and reduces revenues.

Business greening agents

The shift of business to the green trend can by no means be attributed
exclusively to the initiatives of business itself. One can distinguish three
main agents of the process:
 Consumers
 Governments
 Company
Each of them is contributing to the formulation of a "green request" to
business and green practices in their unique way.

Green consumer
It is critical to identify who the consumers of "green" products are to place
them in the appropriate market position. A green consumer is someone
who buys environmentally generated or environmentally friendly products
(those that are made, imported, and exchanged without generating
pollution and may be reused or utilized) and avoids environmentally
detrimental consumption (e.g., by saving water and energy, recycling).
Various lists of traits that define green consumers can be found in the
literature. Some authors divide consumer characteristics into four
categories: demographic, socioeconomic, psychographic, and behavioral;
others divide them into five categories: demographic, knowledge, values,
attitudes, and behavior. Others say the most essential green consumer
qualities are habits, personal capabilities, attitudes, beliefs, and
conventions.
Environmental marketing research has not produced consistent findings
regarding relationships between specific consumer characteristics and
environmentally friendly behavior, and it does not support the concept of a
"typical" consumer concerned with environmental issues who engage in
either non-purchase conservation behavior or green purchase consumption
patterns.

Demographic Characteristics:
The consumer’s main demographic characteristics are age and gender.
Age:
Research from 1996 found that green consumers were older than the
norm; however research from 1999 found the exact reverse - that green
consumers were younger than the average.
Gender:
In terms of gender disparities, some studies have indicated that women are
more environmentally conscious, while others have discovered that men
are more willing to pay a premium for a green product. However, several
researchers have found no evidence of a link between green consumption
and gender.

Socio-economic Characteristics:
When it comes to consumer socioeconomic attributes (income and
education), those with a lower income and education level are more likely
to engage in green consumption. A second study, as well as others that
failed to establish any favorable association between green consumption
and high household income or education level, backed up this result.

Psychographic Characteristics:
Most academics agree that demographic factors have the least impact on a
consumer's green shift and that psychographic qualities - knowledge,
attitudes, and values – are more useful in understanding environmentally
friendly consumer behavior.
The term "eco-literacy" refers to a person's understanding of environmental
issues. The impact of persuasion on customer behavior yields contentious
results.
Several types of research have found a strong correlation between
consumer behavior and environmental knowledge, whereas others have
reaffirmed the belief that environmental knowledge is only weakly
associated with green purchasing. Attitudes of importance and
convenience play a big role in deciding whether or not to "go green." To
begin with, individuals' awareness of environmental issues must be
relevant to them, and "becoming green" should not be viewed as
inconvenient in terms of time.

Government role
Recognizing the impact of human actions on the environment and
acting under pressure from consumers (voters) and various NGOs,
governments (local, national or supranational) provide a regulatory
framework for business operations, aiming to restrict the environmentally
harmful and to prompt the environmentally friendly business behavior.
Examples of such legislations and policies are environmental taxation,
green public procurement, integrated product policy, eco-labeling, eco-
auditing.
The green public procurement requires companies to meet certain
environmental performance standards in order to be eligible to work for and
with the government. At the EU level, the green procurement specification
is established for the following products or service groups:
 Construction
 Transport
 Copying and graphic paper
 Cleaning products and services
 Office IT equipment
 Furniture
 Electricity
 Food and catering services
 Textiles
 Gardening
The integrated product policy is a comprehensive instrument for minimizing
the environmental degradation which arises from the use, disposal or
manufacturing of products. The list of tools includes certain substance
bans, product design regulations, environmental labeling. Other examples
of government-supervised eco-labeling schemes are the EU Energy Label
where all European manufacturers have to inform consumers about the
energy efficiency (rated from A to G) of household appliances,
LEED (Leadership in Energy and Environmental Design), the Green
Building certificate awarded in the U.S.A. to the environmentally
responsible constructions which efficiently use energy, water, other
materials and ensure indoor environmental quality. Mandatory
labeling requirements also exist for food, drinks, and pharmaceutical
sectors. Eco-auditing tools are designed for an objective and systematic
evaluating, reporting and improving companies’ environmental
performance.

Eco-friendly Company:
When it comes to company strategy, the need of implementing an
ecologically responsible approach is frequently underlined. Declaring a
business to be "environmentally friendly" appears to have been a
competitive advantage.
When a business tries to implement such a plan, customers mustn't lose
faith in it. Even if the business strategy of operating in an ecologically
friendly manner has great potential, it must be thoroughly evaluated for
feasibility, applicability, and conditions for its successful implementation to
be successful. It's critical to determine whether there's a market for such
products and, at the same time, to examine the company's ability to
manufacture and market them successfully. The extent of any investment
expenditure, as well as the company's resources, must be considered.
Companies must employ these resources efficiently and take advantage of
the shortcomings of their competitors while executing a green strategy.
Previously, businesses believed that being environmentally conscious
meant more expenses and worse efficiency. If a corporation is inventive, it
can come up with a solution that, for example, allows for higher input
utilization and waste minimization. This strategy has two possible
advantages: improved material utilization and, in the long run, lower
pollution-related expenses. Companies can achieve sustainable growth
while keeping both considerations in mind, namely economic growth and
environmental sustainability.
Environmental sensitivity is an important aspect of a company's social
responsibility. The notion of social responsibility refers to a company's
attempt to incorporate all interested parties in the decision-making process
who are involved in the company's activities in some manner. Integrating
social responsibility into business activities can have a positive impact on a
company's financial performance. Corporate social responsibility is an
aspect of corporate strategy, and the term "period of corporate social
responsibility" is occasionally used.
This idea is tied to the reality that executives must consider company
stakeholders. All those who may be influenced by the company's actions
are considered stakeholders. When taking an environmentally responsible
strategy, businesses can use a variety of optional instruments. These tools
include lifecycle assessments, EMAS certification, ISO 14000 standards,
and eco-labeling, among others. These optional tools have the potential to
improve a company's performance. By utilizing these tools, a corporation
can pursue a proactive approach that contributes to the above-mentioned
sustainable development. According to research, businesses that adopt a
proactive approach to the environment and deal with environmental
concerns develop distinctive skills and capacities, boosting their
competitiveness.

Green Product
Eco-friendly items are those that do not harm the environment in any way,
whether during their manufacture, usage, or disposal.
Anything helpful for the environment is referred to as eco-friendly, often
known as environmentally friendly or green. As a result, an eco-friendly
product does not have any negative impact on the environment. When
used, several of these green goods help:
 Conserve energy
 Minimize carbon footprint
 Minimize emission of greenhouse gases
  Does not lead to substantial toxicity or pollution to the environment.
 Biodegradable
 Recyclable
 Compostable
As a result, when they are discarded, they do not harm the environment or
disrupt the natural equilibrium. The demand for biodegradable polymers
continues to grow. Plastic and Styrofoam items can be replaced with
biodegradable alternatives. These items are non-toxic, compostable, and
inexpensive. There are several environmentally friendly items on the
market, such as PLA cold cups made from corn bio-resin, totally
compostable hot cups, soufflé cups, plates, utensils, bowls, and take-out
containers manufactured from wasted sugarcane fiber.
These biodegradable items can be used to replace plastic and Styrofoam,
decreasing waste and encouraging sustainability while providing the
highest quality biodegradable materials available. The following are the
main characteristics of biodegradable plastics:
 Low barriers of oxygen/water vapor transfer
 Best suited for short shelf life products
 Fully compostable in commercial composting facilities
 Will not biodegrade in landfill or other environments under ambient
conditions but degrade at controlled conditions, temperature or
organisms
The following factors increased dependency over green products.
(a) Competitive Advantage:
Growing green consumerism provided a chance for businesses to compete
with corporations that promote products that are not ecologically friendly.
(b) Regulations:
The policies are framed to protect the welfare of consumers and society at
large by imposing government restrictions on setting standards for trade
effluent discharge, requiring waste management, limiting the production of
harmful goods by prescribing quality standards, prohibiting the
consumption and distribution of hazardous goods, and providing
information on the environmental components of each good, among other
things. States have begun performance auditing of water resources,
pollution management by vehicles, and standards for releasing dangerous
compounds into the atmosphere, among other things.
(c) Competition:
Industries have transformed their methods by going green in terms of
manufacturing, marketing, distribution, usage, and the aftermaths of the
production and consuming process to preserve a competitive advantage
over competing business entities.
Firms embraced green methods such as value addition processes and
management systems at the firm level, as well as quality eco-friendly
products at the product level.
(d) Social Responsibility:
Business is a component of society that should always aspire for profit in
the context of social improvement. To address the cost and profit sides of
the business, environmental challenges are integrated into corporate
culture. Firms have begun to identify end solutions to the environmental
damage caused by trade effluents by transforming such waste into an input
for future manufacturing.
(e) Green Consumerism:
People are gradually incorporating greenness into their lifestyles, based on
factors such as health, quality, and purity. Entrepreneurs began looking into
public awareness of environmental issues as commercial potential. Green
Business has benefited from increased manufacture of green products.
(f) Automation:
Innovation and technological advancements are being utilized as a weapon
to generate more green products and promote them in the competitive
market to ensure a safe environment and long-term growth.
MERITS OF GREEN BUSINESS:
Because of their environmental awareness, modern consumers seek eco-
friendly products and services. Companies are attempting to provide
products and services that suit consumer demands while also protecting
human health and the environment. Non-toxic or neutral items are
prioritized, as well as taking advantage of the government's early-mover
advantages for green businesses.
The following are some of the merits.
(a) Cost:
Companies use green techniques such as energy conservation to reduce
energy consumption and production costs by utilizing solar energy
effectively. Due to lower production, maintenance, and processing costs,
green businesses are less expensive.
(b) Recycling:
Green items are less hazardous and more likely to be recycled. Recycling
units can be installed within plants to limit the amount of waste that is
discharged into the environment, lowering production costs. Consumers
began to scrutinize product labels to determine whether the packing
materials were recyclable.
(c) Tax Benefit:
Employer duty to pay taxes to the government is decreased for businesses
that engage in green activities. Employers are encouraged to take
advantage of tax credits by manufacturing and promoting environmentally
friendly goods and services.
(d) Morale:
The effectiveness of the workforce's engagement is critical to the
organization's success. By directly linking employees with the mission of
health care and environmental protection with green activities, the energy-
efficient working environment will boost employee morale by lowering staff
sick time.
(e) Public Relations:
Customers, suppliers, and investors in the current day value organizations
that make positive efforts to protect the environment.
Green consumerism compelled businesses to cultivate an environmentally
friendly public image by safeguarding consumers' health and the
environment.
(f) Consumer Satisfaction:
Because today's consumers are environmentally conscious, green
elements included in products and services will undoubtedly attract more
customers and increase satisfaction.
(g) Less Environmental Impact:
Green business keeps the environment safe by minimizing the hazard and
eco hazard wastes arising out of production.
(h) Subsidies:
Green business like energy efficient water heater will get assistance from
State and Central Government in the form of purchase price rebates.
(i) Stability:
Eco-friendly businesses include social and environmental factors into their
operations. These elements help businesses perform better than non-green
businesses in terms of profit.
(j) Cutting over heads:
Green business reduces over head expenses involved in production,
maintenance, quality assurance, stocking, marketing processes compared
to non green products and
services.
(k) Loyalty of Customers:
Customers will be more loyal to each product that is truly green if the
employer tries to uphold the company's goodwill through green business,
functioning by the principles of honesty and best practices in environmental
preservation.
CHALLENGES IN GOING GREEN:
The business entities are facing several challenges to start and maintain
green business is explained below.
(a) Lack of awareness:
For vast populations in poor countries, green business is a novel concept.
People are unaware of the various green products and services available.
Consumers must be educated about the dangers that non-green products
pose to their health and the environment.
(b) Cost:
Going green from production to sale necessitates a significant upfront
investment. To make and promote green products, a significant amount of
money must be spent on research and development, raising the product's
cost price.
(c) Higher Product Price:
Green products are costlier than non green products. It is not easy to
convince customers to purchase green products by paying higher premium
price for the marketers. Generally green products are sold on the basis of
additional product value present in the product.
(d) Reduction in profit:
As the technology used for the production of green products are expensive,
it is profitable in the long run. In case of green products, the long term
business plan will only be profitable. Huge investments in innovations to
carry green business will reduce the profit.
(e) Convincing the stakeholders:
The Green business firms should try intensively to get the support
of the stakeholders due to the long term profits involved in the business.
Many stakeholders will not support green business entities due to the
vagueness in accruing profit every year.
(f) Imbalance:
Green products serve as a link between environmental stewardship and
customer delight. Any erroneous assessment or overemphasis on
environmental protection or customer happiness at the expense of the
other is costly.
(g) Paper Free Transactions:
Going green includes paper free business using information
technology brings certain disadvantages. Information theft or piracy is
proved to be disastrous.
(h) Customer Backlash:
Companies put forth false propagandas about environment friendliness of
certain products which is known to be green washing. If consumers
recognize about false propagandas it will affect the good will of the
company for the rest of its life.

Conclusion
From the above mentioned complete discussion it is clear that eco-friendly
nature is very important for companies to acquire. There are various means
to do so but above all of it is a responsibility on the part of every individual
to keep our environment clean and prosperous.

Bibliography
 Bergquist, A.-K. (2017). Business and Sustainability: New. 30-39.
 Cikanavicius, L. (2014). GREEN BUSINESS: CHALLENGES AND
PRACTICES. Researchgate , 74-88.
 DEVADASAN, P. P. (2020). Going Green in Business. academia , 11.
 Esty, D. C. (2006). Green to Gold. yale: Yale University Press.
 Factors Influencing Consumer Buying Behavior & Awareness
towards Organic Food: A Study of Chandigarh & Panchkula
Consumers. International Journal of Science and Research.
 Geoffry, J. (2017). Varieties of Green Buisness. Edward Elgar
Publisher.
 Khanna, M. (2020). GROWING GREEN. ADB Sustainable
Development Working Paper Series .
 Kirk, D. (2015). Environmental Management for Hotels. Taylor &
Francis.
 Krause, J. (2020, 6 26). The Potential of an Environmentally Friendly
Business Strategy – Research from the Czech Republic. pp. 15-16.
 Makower, J. (2008). Strategies for the Green Economy: Opportunities
and Challenges in the New World of Business. McGraw Hill
Professional.
 Pierdon, M. (2021). Make your company more eco-freindly.
Independently Published, 2021.
 Richardson, N. (2019). Sustainable Marketing Planning. Taylor &
Francis, 2019.