3 years ago

Greening of business: A step towards sustainability

Lakshmi Viswanathan, George Varghese

Abstract

The rising awareness of consumers regarding the adverse effects of the ever increasing ecological footprint has given rise to green consumerism. The idea is often encouraged but it can be enhanced only by a collective effort of consumers, firms, and governments. The article builds on the existing literature on green consumerism where it is, by and large, misconceived to be unidirectional—such that the burden of reducing human impressions on ecosystem falls only on the shoulders of consumers. The study reasons about the need for consumer initiatives to be supported with relevant policies and regulations from the government and through socially responsible corporate actions.

The authors explore multiple dimensions of green consumerism and analyze in detail the scope and reach of green business practices in our ongoing strive to sustainability. The article highlights the actions required from the firms to make use of the opportunities provided by green consumerist ideas and the evolving consumer base. It explores the ways in which a business can adopt to become socially responsible by reaching green consumers. The article further identifies the need and impact of green marketing for eco‐friendly products, to penetrate to the expanding consumer base.

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