Abstract
Running a green business in India and other developing economies is indeed a challenging job for the producers involved in this business. In a green business environment, the company may re-design the product attributes since the usage of the harmful chemical may be prevented and scarce resources may not be exploited. The main objective of this case study is to assess the factors that are associated with running a green business in India and other developing economies. This case study also highlights the issues related to the green business. This case study is developed by using secondary data to assess the factors that influence green business. The secondary data was obtained from another exhaustive literature review of journals and internet sources. The developing economies strive hard to achieve green business since it has been a necessity for these countries to depend on natural resources. The important aspect here is developing countries depend on both the economic and social factors which have a major impact on environmental factors. Moreover, developing countries are mainly dependent on natural resources for their potential and growth so as to give stiff competition for the developed economies in a global market. In addition, many developing economies face challenges basically related to power, water, ecological problems, social and economic problems and also problems related to weather and climate change. The challenges associated with green business also depends on cost analysis, where it is quite expensive for a poor and developing economy to reach the initial cost too since the usage of basic technology is lacking. Moreover, the treatment for wastewater, water resource management, treatment for disposal of effluents and toxic waste are not successfully utilized. The developed economies need to import modern technology and technical knowledge from other countries because of the lack of their own technology and technical skills. Now a day’s many countries have the knowledge of green growth which thereby helps to improve the economic standards of the countries. The government has to take certain measures such as the provision of subsidies which may support the challenges of green growth and development. The short-term subsidies may not benefit more since it may hamper the production and demand by raising the price and cost. But as for the long term is considered these reforms may provide more effectiveness in productivity and thereby lead to changes in technologies.
Highlights
The concept of green environment started during the 20th century because of consumers concern about environmental issues and scarcity which is aroused due to high utilization of natural resources where these resources may become scarce or depleted
In a developing economy doing a green business is no longer considered as a cost issue since it is considered as a primary issue for modification and exploring of new markets and profit maximization
Various literature shows that the studies based on green practice and business are formally done in developed economies but studies do not show more about the green environmental issues adopted in the business of developing economies
Summary
The concept of green environment started during the 20th century because of consumers concern about environmental issues and scarcity which is aroused due to high utilization of natural resources where these resources may become scarce or depleted. Already it took long 20 years for the company to adopt this practice of green business [1]. The workforces usually are not aware of the importance of the green change since they may be accustomed with the old policies where they may resist the new change These challenges should be met by the employer who is responsible to adapt the green environment which is very crucial for sustainability of business and environment. It’s very crucial for companies to utilize the opportunities of green practice so as to maintain their potential with the competitors and build a rapport with stakeholders
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