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GREEN ENTERPRISES AND THEIR DEFINING ELEMENTS, STANDARDS & MANAGEMENT CONTEXT. HOW DO SUSTAINABLE COMPANIES RELATE TO THE 3Es OF THE GREEN ECONOMY?

Author

Listed:
  • NACU Teodora

    (Bucharest University of Economic Studies)

  • JERCAN Emilia

    (Bucharest University of Economic Studies)

Abstract

Understanding how businesses can improve in a sustainable environment has an increasingly significant role in the economic context and its growth. Nowadays, sustainable companies are constantly reducing the pressure of law, diminishing the costs of utilities, and cultivating a culture inside the working context. More than 90% of CEOs of environmental companies acknowledge that sustainability represents essential business market growth. Green businesses prioritize sustainability and social responsibility in their operations and environmental business practices, as they aim to conserve the natural environment and promote green practices while ensuring high levels of profitability and reducing the carbon footprint. Unfortunately, over time companies have faced significant barriers such as affording green investments and the costs implied or analysing the market demand, due to not all the systems and governments aligning with the emergent models of a green economy. The public sector should however play an important role when considering sustainability by promoting green operations and policies, applying regulatory alternatives, and providing more concrete incentives for green businesses. Nowadays, green enterprises have grown in importance in the economic environment cultivating more shared green values. Therefore, promoting green entrepreneurship among all segments of society is a focus both at the policy level and inside the business culture. This paper aims to define concepts of economic growth and sustainable development around the business context and to understand how sustainable companies relate to the 3 E s of the green economy, as these appear to determine business longevity and help maintain a positive business reputation among other businesses.

Suggested Citation

  • NACU Teodora & JERCAN Emilia, 2023. "GREEN ENTERPRISES AND THEIR DEFINING ELEMENTS, STANDARDS & MANAGEMENT CONTEXT. HOW DO SUSTAINABLE COMPANIES RELATE TO THE 3Es OF THE GREEN ECONOMY?," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 75(3), pages 70-79, October.
    • Handle: RePEc:blg:reveco:v:75:y:2023:i:3:p:70-79
    DOI: 10.56043/reveco-2023-0028
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    References listed on IDEAS

    as
    1. Bina, Olivia & La Camera, Francesco, 2011. "Promise and shortcomings of a green turn in recent policy responses to the “double crisis”," Ecological Economics, Elsevier, vol. 70(12), pages 2308-2316.
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    More about this item

    Keywords

    Green Enterprises; Sustainability; Green Economy; Business Culture;
    All these keywords.

    JEL classification:

    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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