GOING GREEN IN BUSINESS: THE APPROACHES IN RETAIL SUSTAINABILITY PRACTICES AND GREEN POLICIES

Abstract

Businesses are shifting their priorities from maximising profits to cutting costs and caring more about the planet as a result of using green and environmental business practices. Efforts by businesses to become more environmentally friendly have shown the value of using business intelligence to track progress and alert management to any deviations from the norm. A well-defined plan is still necessary for environmental activities. Because of the alarmingly fast rate at which natural resources are being depleted, even the largest energy consumers are becoming increasingly environmentally sensitive. Customers are more inclined to see a business favourably if they have implemented green practises, so this is not surprising. Customers tend to be loyal to businesses that have a solid reputation for environmental responsibility and sustainable practices. Not only does this have positive effects within the organisation, but it also has wider-ranging external implications. Common solutions to environmental and economic issues are the focus of a new body of knowledge (Fraj et al. 2013).^[1] The ecology and the economy may both thrive in this new, exciting world. Environmental friendliness is quickly becoming a competitive advantage for businesses, allowing them to attract new clients and maybe widen their market. Here we take a look at how "green" marketing is being employed by companies to win over new clients and keep hold of their existing ones. Few practices of companies who have adopted and reported are observed for their best practices.

^[1] Fraj, E., Martínez, E., and Matute, J. (2013). Green marketing in B2B organisations: an empirical analysis from the natural-resource-based view of the firm. J. Bus. Indust. Market. 28, 396–410. doi: 10.1108/08858621311330245