Green To Gold: A Review Book Review

2009). Therefore, organizations will need to redesign their entire scope in order to fit an eco-friendly motive to influence the adoption of the ideas. Thus, organizations can reconstruct simple operations, like featuring recycling bins and limiting water usage, as a way to increase the belief in the company's mission by employees. The second strategy examined here is the one focusing on the redesigning towards green innovation. Typical beliefs assume that consumers are more willing to pay a premium for products that utilize eco-friendly production practices. Essentially, this idea postulates that consumers are willing to pay higher prices for products produced with and in eco-friendly circumstances (Green Biz p 1). This means that the organization must employ eco-friendly products in order to still charge a premium without damaging its consumer reputation. However, contemporary research does show that there is a limit to what consumers want to spend, and on their devotion to green friendly principles (Bonini & Oppenheim 1). Thus, it can be hard to market more expensive eco-friendly concepts and products. Redesigning innovation can be both on the product and marketing sign, as consumers often need a good push in the right direction to be willing to part with extra cash. Innovation helps establish value, and thus it can be a crucial factor on how much more customers are willing to pay for particular products, despite the presence of cheaper alternatives. Moreover, there is the opportunity to reduce costs through innovative decisions that help cut costs because of utilizing eco-friendly practices. Essentially, adopting greener initiatives help implement practices that can reduce overall overhead (Gingichashvili p 1). Switching to a paperless system, for example, can save tremendously on paper and ink costs. Additionally, for new start ups or businesses on the moves, spending initial money on designing innovative...

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These small reductions will eventually add up, and by being able to combine them with charging a premium, this can amount to huge revenue increases overall. Thus, it is clear that investing into green friendly innovation can prove beneficial for the organization and the world as a whole community.

Sources Used in Documents:

References

Bonini, Sheila & Oppenheim, Jeremy. (2008). Cultivating the green consumer. Stanford Social Innovation Review. Web. http://www.ssireview.org/articles/entry/cultivating_the_green_consumer

Carmazzi, Arthur F. (2010). Are your leaders environmentally friendly? Write for HR. Web. http://www.writeforhr.com/are-your-leaders-environmentally-friendly/

Carmazzi, Arthur F. (2010). Organizational culture-based leadership -- Affecting corporate culture through systematic psychology. Eco-Friendly Ideas. Web. http://www.ecofriendlyideas.co.uk/eco-friendly-articles/organizational-culture-based-leadership-affecting-corporate-culture-through-systematic-psychology.html

Etsy, Daniel C. & Winston, Andrew S. (2009). Green to Gold: How Smart Companies Use Environmental Strategy to Innovate, Create Value, and Build Competitive Advantage. John Wiley and Sons.
Gingichashvili, Sarah. (2007). Green computing. The Future of Things. Web. http://thefutureofthings.com/articles/1003/green-computing.html
Green Biz. (2009). Several studies say conscious consumers willing to pay more for green. News. Web. http://www.greenbiz.com/news/2009/06/03/several-studies-say-conscious-consumers-willing-pay-more-green
Mallinger, Mark; Goodwin, Don; & O'Hara, Tetsuya. (2009). Recognizing organizational culture in managing change. Graziadio Business Review. Web. http://gbr.pepperdine.edu/2010/08/recognizing-organizational-culture-in-managing-change/


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