Companies and firms are becoming more and more socially aware when it comes to issues such as the environment. With rapid social changes businesses would have to review their business objectives more often than before. For example in recent years there has been a positive attitude towards hiring female employees as well as becoming more environmentally friendly, as such many businesses now encourage and promote eco-friendly behaviors within the firm and hire more female employees over time.
The point of having good CSR may have many advantages which include it being a motivational factor as well as improving on corporate image.
With the changes in social norms, many new business opportunities arise, for example to make producing electricity more efficient and ‘smart’ BC hydro has implemented a mandatory program of installing smart meters within all households by the end of 2012. Firms such as Energy Aware has worked with BC hydro and has produced a complimentary good that would allow one to observe “how much electricity you are using and how much it is costing you”. However although the incentives of BC Hydro seems to be good, there are many concerns relating to the smart meter such as health concerns, privacy concerns and whether or not it would actually drive down the costs of electricity bills.
With the many concerns with the smart meter the issue arises for Energy Aware is that since people are so opposed to the project to begin with why would they buy The Power Tab? To top it off The Power Tab is going to be on the more on the expensive end, why would people pay a premium? As such BC Hydro and Energy Aware should work together and figure out a way to minimize the resistance to change.
In my opinion BC Hydro should not make this smart meter program a mandatory one and allow people to opt-out of the program as well as becoming more transparent. As such misunderstandings may dissipate and the resistance to change will lower.
sources: Com292 class + assignment
picture: http://www.trilliantinc.com/library-files/partners/EnergyAware-01.png