ENVIRONMENTAL COST MANAGEMENT
Throughout the years, organizations have become increasingly aware of the environment and the impact environmental costs have on their specific organizations. This phenomenon which came to the forefront in 1970 according to the Environmental Protection Agency (EPA) predicted the costs of environmental protection for firms in the United States would increase even more in the future (EPA, 1991). Fast-forwarding, this movement has been a benchmark in identifying and building sustainable businesses. In doing so, these sustainable businesses who abide by such cost are predicted to be more sustainable in their efforts to comply with federal and state regulations. No more are the days of just getting by with that façade …show more content…
Accordingly, improving quality and considering environmental factors raises the chances for success in the organization. In fact, organizations now see these costs as a competitive issue and one that lowers costs over time while improving environmental concerns. The environmental management literature suggests that firms can improve their competitive positions and at the same time reduce the negative effects of their activities on the natural environment by implementing certain "best practices" of environmental management (Cairncross, 1992; Hart, 1995; Schmidheiny, 1992; Shrivastava, 1995b; Smart, 1992 as cited by Christmann, 2000). Moreover in refining the quality, a firm can increase customer demand for manufactures, service firms and supplying firms. From an operational point of view, paying close attention to and abiding by environmental regulations increases customers’ expectations. Through exploration of environmental cost management, this researcher seeks to define environmental cost management and identify the benefits gained through compliance by conducting a literature review of three articles providing real world situations in which companies have profited from eco-friendly efforts. But first we define environmental cost …show more content…
One example of this is shown in green computing. According to Dziak (2015), green computing advocates efficient use of energy which can lower utility costs significantly and extend the life span of computers, allowing them to provide a greater return on the consumer 's investment. Another added benefit according to Dziak (2015), is consistent green computing, as well as other green initiatives, can help to reduce waste and keep the environment clean. Alternatively, green computing can be implemented with minimal costs as identified using algorithms which can be used to aid in green computing proposed by Shanmuganathan, Koteeswaran, Sushmitha, and Vidhya (2014) in their research on applications of a Quantitative Algorithm for Green Computing. According to these
Throughout the years, organizations have become increasingly aware of the environment and the impact environmental costs have on their specific organizations. This phenomenon which came to the forefront in 1970 according to the Environmental Protection Agency (EPA) predicted the costs of environmental protection for firms in the United States would increase even more in the future (EPA, 1991). Fast-forwarding, this movement has been a benchmark in identifying and building sustainable businesses. In doing so, these sustainable businesses who abide by such cost are predicted to be more sustainable in their efforts to comply with federal and state regulations. No more are the days of just getting by with that façade …show more content…
Accordingly, improving quality and considering environmental factors raises the chances for success in the organization. In fact, organizations now see these costs as a competitive issue and one that lowers costs over time while improving environmental concerns. The environmental management literature suggests that firms can improve their competitive positions and at the same time reduce the negative effects of their activities on the natural environment by implementing certain "best practices" of environmental management (Cairncross, 1992; Hart, 1995; Schmidheiny, 1992; Shrivastava, 1995b; Smart, 1992 as cited by Christmann, 2000). Moreover in refining the quality, a firm can increase customer demand for manufactures, service firms and supplying firms. From an operational point of view, paying close attention to and abiding by environmental regulations increases customers’ expectations. Through exploration of environmental cost management, this researcher seeks to define environmental cost management and identify the benefits gained through compliance by conducting a literature review of three articles providing real world situations in which companies have profited from eco-friendly efforts. But first we define environmental cost …show more content…
One example of this is shown in green computing. According to Dziak (2015), green computing advocates efficient use of energy which can lower utility costs significantly and extend the life span of computers, allowing them to provide a greater return on the consumer 's investment. Another added benefit according to Dziak (2015), is consistent green computing, as well as other green initiatives, can help to reduce waste and keep the environment clean. Alternatively, green computing can be implemented with minimal costs as identified using algorithms which can be used to aid in green computing proposed by Shanmuganathan, Koteeswaran, Sushmitha, and Vidhya (2014) in their research on applications of a Quantitative Algorithm for Green Computing. According to these