Sustainability in bussiness Essay Example | Topics and Well Written Essays - 2000 words

Sustainability in bussiness - Essay Example This got followed up by a prevailing trend in industry with more people pursuing businesses as a path for their livelihood. As this increase came and businesses started to develop and expand far and wide across the globe at a rapid pace this lead to the era of late 90’s where production and manufacturing of goods reached their peaks requiring extraction of raw materials in abundance leading to excess production of goods wasting a lot of useful resources. Also at the same time many new experiments were being tried out in pursuit of inventing or coming up with products containing the X factor which will be capable enough to earn revenues for the company by attracting scores of consumers. As a result many prototype projects headed towards the market with the similar intentions of gaining popularity and strength in the market which had little focus on the design and resource utilization as in that stretch little research and focus was concentrated on sustainability and effective u se and utilization of resources along with no think tank established to monitor the environmental and ecological effects of these developments and productions. No strict laws were there on which businesses and industries were bound to adhere regarding social, economical and environmental issues as the era was all about development and excelling in the industry. The consumer had the buying power and were not concerned about what processes, methods and technologies are used for the productions of their desired goods. Consumers were at most concerned with the health issues related to products and adverse effects if not used properly. No other knowledge pertaining to the manufacturing and production processes were considered important. ARISING PROBLEMS AND ISSUES: As this rapid expansion and growth of businesses and industries grew and launches of new goods and products continued problems started to surface which caught the attention of many environmentalists, businessmen, industrialist s and people. The environmentalist started to notice that in the course of previous century the production and manufacturing plants all over the world were functioning near to their full or almost full capacities in production processes. The outcome emerged as a massive increase in pollution rates in those regions where these industrial sites were located which not only affected the environmental condition but health experts also expressed concerning the health hazards they might lead to in the longer run. Businessmen and industrialists started to express their concerns regarding cost of production which started to increase due to higher productions costs and the prices of commodities rising which in turn reduced the buying power of the consumers. The paradox that surfaced over here was that if less goods were produced keeping in mind the market trend and buying power it would be costly for the business while if the concentration was focused on reducing cost the production then the production needed to be in bulk which would have two fold negative impact. First one if production would be in bulk more resources and materials will be utilized and extracted to produce goods impacting the environment but providing cheaper goods to consumers. The other factor the production in bulk with