Abstract
Energy Efficiency is one of the key elements of the Environment-Economic aspect of the three spheres of sustainability. To make any business sustainable in the light bulb industry, it could be applied as a strategy to gain competitive advantage in the functional level. This paper investigates the market awareness of environmentally friendly products such as the energy efficient light bulb (or energy bulb) and its market availability, demand, quality and brightness, low waste (e-waste), sustainable consumption (durability), warranty, commission rate, and profitability. It also finds that energy efficiency and low waste are valuable strategies to create market demand for energy bulbs to make sustainable profit and product stewardship eventually to contribute to the e-waste management. A 500 sample survey is conducted in Bangladesh to analyze the energy bulb buyers’ and sellers’ view about this product locally. After the results and interpretation through descriptive statistics and regression of the variables, this study finally draws a pathway model to show that sustainable energy definitely leads to sustainable business. From the buyers’ point of view, sustainable consumption and low waste as well as from the sellers’ point of view profit and sustainable product both support sustainable business backed by sustainable strategy, energy efficiency being the key. To make the competitive advantage enduring, ensure profitability and profit growth for the shareholders of the corporate world, especially the electrical and electronics industry; with the energy bulb in particular, an energy efficiency strategy could be implemented in businesses worldwide. As the COP26 (The 2021 United Nations Conference on Climate Change) limits the global warming rise by 1.5%, energy bulb has been the pioneer in promoting sustainable products to adopt the sustainable strategy to limit carbon emissions globally.
Highlights
Sustainability is balancing the present for the future
From the buyers’ point of view, sustainable consumption and low waste as well as from the sellers’ point of view profit and sustainable product both support sustainable business backed by sustainable strategy, energy efficiency being the key
Market awareness and acceptance of sustainable products such as energy-bulb; Customers perception about sustainability with the key points such as energy-efficiency; The evolution of sustainable consumption in market development; Higher volume of sale, commission and profit concern for sellers; Low cost and low waste concern in eco-branding; Profitability in energy-efficient product; Developing a model linking sustainable strategy to sustainable business; and Attracting energy bulb or related electrical and electronics goods marketer to adapt sustainable strategy to be formulating into their business operations
Summary
Sustainability is balancing the present for the future. This very current term ‘sustainability’ is broadly defined as meeting the needs of the present generation without compromising the ability of future generations to meet their own needs. They will offer their customers better products through better business practice This leads the project to encompass some objectives in pursuing such a study: Market awareness and acceptance of sustainable products such as energy-bulb; Customers perception about sustainability with the key points such as energy-efficiency; The evolution of sustainable consumption in market development; Higher volume of sale, commission and profit concern for sellers; Low cost and low waste concern in eco-branding; Profitability in energy-efficient product; Developing a model linking sustainable strategy to sustainable business; and Attracting energy bulb or related electrical and electronics goods marketer to adapt sustainable strategy to be formulating into their business operations. In the perspective of Bangladesh and the light bulb industry, no empirical study is found to prove the viability and profitability of sustainable business practice through a sustainable strategy. Will be dedicated to Research Methodology, Findings and Results, Overall Discussion with future research, Limitations and Conclusion, respectively
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