Assignment 8: Week 8: Term Project Paper Write your final research topic paper. This outline must follow the format utilized in the prior outlines as far as section headings. This final paper should

GREEN PRACTICES

COMPETITIVE ADVANTAGE OF GREEN PRACTICES FOR COMPANIES

Dexter Harris Jr

American Military University

RLMT302

December 4, 2022

Professor Stites

Abstract

All governments around the world are emphasizing saving the environment in order to reduce global warming and other associated problems. Most companies have already invested billions of dollars in order to adopt green practices. This research aims to analyze the advantages of green practices to companies and how they can increase green practices in order to sustain their positive growth trends.

Introduction

After the Paris Climate change agreement and UN climate summit, there is an accelerated need for green practices whereby companies around the world, especially in developed countries, are focusing on adopting environment-friendly operations. Companies that have adopted green practices have several benefits, which include increasing their competitiveness and higher profits. Green energy focuses on replacing petroleum products with eco-friendly sources of energy, such as solar energy. These primary actions are to regulate harmful practices as much as possible in order to keep the environment healthy.

Background of the study

In 1990s companies around the world over-depended on fossil fuels to run industrial activities. This meant that petroleum producers would charge high prices, which led to the oil crisis. However, technology has been changing, which has created room for more effective energy sources. The government has also set standards that all companies should meet in order to remain compliant with environmental protection (Ekenga, et al., 2018).

Another important factor is that in today’s world, clients possess knowledge on the impact of poor production measures on the environment. This means that companies do not have an option but to conform to green practices in order to remain operational. There are different types of green practices which are being used. It is expensive to set up some of them since it involves changing the current infrastructure in order to set up new systems (Guo et al., 2020). However, most companies have reported increased productivity levels after adopting green practices.

Literature Review

According to green theory, there are environmental consequences of collective choices in which people take part in; companies have exploited nature for their short-term personal gains without considering the negative impacts of their actions. However, they have been forced to adopt green practices (Mousa & Othman, 2020). Some of the most common green practices which are being carried include reducing emission gases during transportation. Companies are opting to use electric cars instead of over-depending on combustion engines.

Solar power energy is also being adopted since it reduces the annual expenses which companies incur. In the US, the federal and state governments are offering tax incentives to companies that adopt solar energy. For companies to save on the cost of operations, most of them are opting to substitute fossil fuels with solar energy. Each company is also expected to monitor the amount of carbon dioxide that it emits into the environment. Solar panels do not emit carbon dioxide, which means that they enable companies to remain compliant to environmental standards (Green et al., 2018).

Customers often face problems when it comes to disposing of waste. Companies which accept waste from customers in order to recycle them are likely to get return clients, especially those who care for their environment. Recycles wastes such as plastics enable companies to save on the cost of production since they possess readily available raw materials. Other wastes include cell phones and computers, which are no longer in use.

Findings

Green practices enable companies to reduce their expenditure when it comes to energy costs since there are low costs for companies that use solar and other renewable sources of energy. They also benefit from tax incentives that have been put in place by the government. It also enables companies to attract new customers and retain loyal customers, especially those who value their environment. Companies that are involved in green practices create a positive impact on society, especially when it comes to reducing the levels of carbon dioxide in the environment.

Conclusion

There are several benefits of adopting green practices in companies. Companies which take part in green practices are more profitable compared to those which still depend on only practices which are not environment friendly. They have a higher ability to retain and access new markets. They remain compliant with the law, which reduces losses that are related to failure to adhere to the set law.

Summary

The current world of industrialization is driven by efficiency. Green practices are key when it comes to attaining efficiency. The government has also set standards that each of the companies should achieve. Customers have also been educated on sustainable methods of production and products which keep the environment safe. This means that all companies are under pressure to adopt sustainable production methods in order to sustain their growth. Green practices are the only way to sustain the environment and reduce global warming, which is a problem in the current world.

Recommendation

There is a need to research the impact of using petroleum products to produce electricity which is used to charge electric cars. This is one of the most controversial areas, and more research should be done on better ways of ensuring that sustainable electricity is produced. This includes finding ways of generating more wind energy and other renewable sources of energy. Research should also be conducted in order to come up with friendly ways for how companies can reduce overdependence on petroleum energy.

References:

Bick, R., Halsey, E., & Ekenga, C. C. (2018). The global environmental injustice of fast fashion. Environmental Health, 17(1), 1-4.

Green, K. W., Inman, R. A., Sower, V. E., & Zelbst, P. J. (2018). Impact of JIT, TQM and green supply chain practices on environmental sustainability. Journal of Manufacturing Technology Management.

Guo, S., Choi, T. M., & Shen, B. (2020). Green product development under competition: A study of the fashion apparel industry. European Journal of Operational Research, 280(2), 523-538.

Mousa, S. K., & Othman, M. (2020). The impact of green human resource management practices on sustainable performance in healthcare organizations: A conceptual framework. Journal of Cleaner Production, 243, 118595.