Green initiatives: a step towards sustainable development and firm's performance in the automobile industry

Abstract

The automobile sector is rapidly increasing its market share worldwide in recent years. It is because of various business strategies by automobile manufacturer such as more focus on small cars and fuel-efficient cars having a low market price that are targeted to capture the maximum market. But due to increasing market share of the automobile sector there are several environmental issues are also arising such as carbon emission, global warming, etc. In such a scenario, automobile manufacturers are facing dual pressure one, to save the environment and another is to maintain the performance of the firm in the long run. The performance of the firm can be judged on the basis of financial, operational and marketing capability of the firm. This paper develops an approach towards the adoption of the green initiatives at the firm, and also tries to build a relationship between the performance of the firm and sustainable development through the adoption of green initiatives. The paper would discuss various green initiatives such as green marketing, green supply chain management, green innovation, etc. which firms are adopting. The study would focus on the facts and opportunities of green initiatives for the success of the firm as well as sustainable development. The paper is based on the exploratory research, and extensive literature survey has been done to bring the findings of the study.