Paper Title
Integrating Environmental Social Responsibility into Commerce by Adopting Sustainable Business Practices for Long-Term Success
Article Identifiers
Authors
Dr. Chandrakala Himanshu Joshi
Keywords
Environmental Social Responsibility, financial performance, operational efficiencies, regulatory compliance, sustainable business practices.
Abstract
This study explores the impact of integrating Environmental Social Responsibility (ESR) into business practices on financial performance, operational efficiencies, and regulatory compliance, focusing on Tata Power and Godrej Group in the Mumbai region. Utilizing secondary data from company reports and industry sources, the research demonstrates that adopting sustainable practices yields significant benefits. Tata Power experienced a 12% increase in revenue growth and an 8% improvement in profit margins, alongside a 15% reduction in energy consumption and a 25% decrease in waste. Godrej Group achieved an 18% price premium and a 20% reduction in water usage, with enhanced supply chain efficiency by 12%. The study also highlights the crucial roles of regulatory compliance and leadership commitment in effective ESR integration. Tata Power’s full compliance with regulations and high adoption of standardized reporting, combined with Godrej Group’s substantial leadership involvement and employee ESG training, emphasize the importance of these factors in driving successful sustainability initiatives. The findings underscore that integrating ESR not only aligns with regulatory and ethical standards but also enhances financial performance and operational efficiency, offering valuable insights for businesses seeking to leverage sustainability for competitive advantage.
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How To Cite (APA)
Dr. Chandrakala Himanshu Joshi (August-2024). Integrating Environmental Social Responsibility into Commerce by Adopting Sustainable Business Practices for Long-Term Success . INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 9(8), d407-d414. https://ijnrd.org/papers/IJNRD2408381.pdf
Issue
Volume 9 Issue 8, August-2024
Pages : d407-d414
Other Publication Details
Paper Reg. ID: IJNRD_227153
Published Paper Id: IJNRD2408381
Downloads: 000121986
Research Area: Engineering
Country: -, -, India
Published Paper PDF: https://ijnrd.org/papers/IJNRD2408381.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2408381
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Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)
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This work is licensed under a Creative Commons Attribution 4.0 International License and The Open Definition
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