Sustainable Value and Extra Costs Benefits of Going Greener in the Healthcare Industry
19 Pages Posted: 30 Aug 2018
Date Written: June 15, 2018
Sustainability is an important concept to managers in capitalist societies; with the fall of communism over a decade ago, capitalism has emerged as the dominant economic ideology in the world.
The world is inextricably interconnected, and the poverty, hopelessness, and perceived exploitation in one part of the world will not remain geographically isolated. Thus, global capitalism is being challenged to protect the natural systems and cultures upon which the global economy depends upon. The goal is to decrease the saturation in the developed markets, reduce the gap between the rich and poor, minimize the levels of environmental degradation, and avoid the developing world losing control over its own destiny.
Firms today are facing growing pressure to become greener, and some stakeholders press companies to reduce their negative impact on the environment. Corporate social responsibility geared toward sustainable development through providing all stakeholders with economic, social, and environmental benefits has become a focus of attention. Since environmental corporate social responsibility is generally associated with a reduction in competitiveness, firms must cope with these pressures while staying competitive. Thus, firms must reduce their environmental impact without hurting their economic performance; this is accomplished by being more innovative. However, innovation has a cost, and this brings forth the following concern: does the cost of going greener affect the continuation corporate social responsibility actions?
Keywords: Sustainability, going green, healthcare, stewardship, clean technology
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