Over the recent years, the environmental industry has expanded its role into all aspects of our lives, from what we consume on a daily basis to larger purchases like household appliances. Businesses are directly impacted when the society demands its emphasis on corporate social responsibility. When concepts like this evolve into what’s accepted as “societal norm” by the general public, it is simply not a matter of choice for businesses anymore.

We all know what happened to Tesla’s stock prices earlier for releasing its electric vehicles. This rising competition for innovations/solutions leading to a “greener” planet is threatening traditional industries; businesses, especially, are required to adapt immediately in order to survive. Based on Freeman’s Stakeholder theory, it is completely rational for businesses to use this growing trend to benefit all parties involved; additionally, the ultimate concern of a corporation to maximize profit is also justified by Friedman’s reasoning. Then, are these supporters of sustainability genuinely concerned for the environment or just merely using it as marketing/political strategies? If the latter is true, then I would agree with Friedman on viewing this deception as fraud.

For technologically innovative companies, this is definitely an opportunity to dominate the new market, and it is not an exaggeration to say that older industries are being forced to conform. But then, what will happen to diversity? For instance, ever since Apple’s proved its success with touch-screens, most if not all of its competitors “revolutionized” their products by mimicking the same idea. In the long run, blindly transforming to fit into the market trend with premature goods will not be successful. After all, why would people purchase a water-conserving model toilet, however “environmentally friendly” it may be, if it doesn’t flush properly?

http://www.ctvnews.ca/business/eco-friendly-products-crowdsourcing-expected-to-drive-consumer-trends-in-2014-1.1579353