An introduction to green product development for SMEs

Abstract

Environmental concerns have begun to receive increasing levels of attention with much of the onus for improved environmental stewardship falling on the industrial business community. The pressures on firms from consumers, legislation, financial sources and larger firms will inexorably increase. If firms choose to wait until pressured to change, the change when it is imposed will most likely be expensive and painful. Adopting and integrating such philosophy in a pragmatic manner into the business activities will allow the firm to benefit from the environmental challenges. Improving manufacturing processes, reducing waste etc., will have direct financial benefit. But taking a hard look at the product and how it is produced, with the involvement of all staff, will create a dynamic environment where opportunities for improvement and change will present themselves. This is particularly true for SMEs which, having good internal communication combined with the potential for being both flexible and specific, are well placed to identify and capitalise on new markets for their products and services.