Sanil is trying to decide whether to begin the process of converting his company to become eco-friendly. With respect to disadvantages or benefits to his company, what should he consider when trying to make this decision?
What will be an ideal response?
There are many advantages for a company that adopts eco-friendly behavior,
strategies, and processes. Aside from developing a more positive public image and
attracting the appreciation of current and potential employees and customers, most
companies can expect improved performance in the marketplace from becoming eco-
friendly. When companies can make positive environmental announcements, they are
usually followed by positive shareholder reactions. Cost savings for implementing
energy-saving and green strategies and technologies can be very high over the long
term, and a decision to respect the environment can reduce the risk that a company will
be liable for a future incident of environmental damage. On the negative side, the up-
front costs of environmental change can be high, though long-term savings are typically
much higher.
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