The Effect of Environmental Issues on Business Management in Today’s World

The Effect of Environmental Issues on Business Management in Today’s World

Introduction

Over the last four decades, the idea of corporate environmentalism has evolved and been reinterpreted many times. Driven by major environmental events such as Rachel Carson's Silent Spring, the Santa Barbara oil spill, the Cuyahoga River fire, Love Canal, Bhopal, the Exxon Valdez spill, the Brent Spar controversy, and many others, conceptions of corporate environmentalism as regulatory compliance gave way in the 1970s to newer management conceptions of "pollution prevention," "total quality environmental management," and "total quality environmental management." 

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In the 1970s, the media's emphasis shifted from air and water to hazardous waste, remediation, toxics, right-to-know, ozone, global warming, acid rain, solid waste, chlorine phase-out, and environmental racism. With each idea, the difficulty of comprehending the confluence between economic activity and environmental preservation increased.


Conclusion

In today's corporate climate, yearly expenditures for pollution management in the United States have almost quadrupled since 1972, amounting to approximately 2% of GDP. As a consequence, businesses are looking for methods to commit money to environmental projects while still meeting their financial goals. They need a method of translating environmental problems into a format that they can comprehend and handle. 

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Environmental protection, as a business problem, has grown considerably more complicated, requiring a more sophisticated approach in order to be handled successfully. Treating environmental and commercial problems as separate and different issues puts the company management at a strategic disadvantage, unable to grasp the reality of a changing society, one that will need ever more corporate responsibility for environmental protection.


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