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NOLEGEIN Journal of Business Risk management

A Study on Green Businesses in India

  1. Neeta Aurangabadkar Pole
  2. Sai Koushik Posu

Abstract

Increasing awareness on the various environmental problems has directed to a shift in consumerbehaviour. There has been a change in consumer attitude towards a green lifestyle. In the modernmarket green business have evolved special implications. The word ‘Green’ indicates purity throughquality, fairness in price and worthy in dealings. These green business emphases on ecofriendlyproducts to satisfy the needs and wants of the customers with the scope of sustainable development toa greater extent. It adopts innovative techniques of various strategies where it involves both concerntowards nature and profitability in core aspects. The growth in green businesses cannot solely besustained by big firms adopting green practices. It must also be supplemented by the rise of newentrepreneurs entering the green business market. Green business is the act of not only living byenvironmentally friendly policies and procedures, but ensuring it translates into environmentallyconscious behaviour even at individual levels. Green business is important for a number of reasons,from eliminating wastefulness to promoting social equity. It is well known that increasing productionand business activities are polluting the natural environment. The damages to people, crops, andwildlife are reported in different parts of the world. As resources are limited and human wants areunlimited, it is necessary for marketers to use resources efficiently, so that organizational objectivesare achieved without waste of resources. Green business, or sustainable business, holds sustainableoperating procedures, product and material sourcing, labor practices, and shipping methods. The goalof green business is to eradicate any negative impact on the environment, on both a local and globalscale. A green company takes a constructive method to minimizing waste, reducing its carbon footprint,and avoiding any injurious practices. The paper highlights the relevance of green business in India, itsneed and importance, creating awareness and its opportunities and challenges and suggest themeasures for green businesses.

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