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The idea of eco-efficiency as a major driver of corporate excellence, according to them, was perhaps introduced by Swiss industrialist Stephan Schmidheiny in the same year, through his book Changing Course.
This article aims to introduce the eco-efficiency concept, some of its key manifestations, and perhaps most importantly, how companies can become more eco-efficient.
economic growth and sustainable development has identified a handful of key action-areas of a basic eco-efficiency mandate.
Perhaps most relevant to companies functioning in economies such as Pakistan’s is the combined gist behind the components: that businesses must harness their creativity to deploy new technologies, initiate improvements along the entire value-chain and bring new, value-added products to the market.
It is a tough line to walk – but only if a company’s business strategy lacks ingenuity.
(Please note: the existence of a robust, long-term business strategy is assumed).
The eco-efficiency concept has now expanded to include the exploration of business opportunities to be gained from sustainable development strategies, an idea which gained popularity with Harvard Professor, Prahalad’s Bottom of the Pyramid (popularly called Bo P) theory.
The Bo P movement is now in full-swing with everyone clamouring to serve the billions of ‘consumers’ at the bottom of the income pyramid.
Budding entrepreneurs from developing countries can offer all of the above – but the catch sometimes is that quality becomes a victim.