Business economics Essay Example | Topics and Well Written Essays - 3000 words

Business economics - Essay Examplergy resources, cause inundations, heat-related deaths and the fast spread of morbific diseases, as well as create serious damage to all industry sectors.Therefore, mood convince is regarded nowadays as the negative outcome of the modern economic system, along with the process behind its making. It is a problem that addresses all the major players in both local and global economies the operational factors, such as businesses, the regulatory factors, such as governments, the intellectual factors, such as foundations and universities (Echegaray, et al., 2008), as well as the citizens or the consumers, which, at their turn, strand the connections between the factors mentioned above. All of these entities have at least something to say about climate change, and while some of the discussions are focused on finding the guilty parties, on throwing the blame on someone for what has been already done, others are trying to find the appropriate solutions.I be lieve that businesses should understand that environmental awareness is crucial for their long-term sustainability. Companies should recognize climate change as a risk and establish special risk-assessment teams to indentify its impact on the companys costs, supply chains, work practices and outputs. For example, if the winters will become warmer, readiness costs will be lowered however, at the same time, the summers will become hotter, which will summation the demand for air-conditioning. This way, a companys costs distribution is changed based on environmental issues. Still, businesses should externalise climate change as an opportunity and a challenge to find smart markets, develop new technologies as well as improve their image among average consumers. Studies have demonstrated that customers are intimately likely to absolve their guilt about their environmental footprint by buying products from a super Cer company. In other words, consuming trends will shift according to which companies take the lead in using green