Analysis of Green to Gold - Book Report/Review Example

of the of the Green to Gold Book Review This books highlights the methods every businessperson must adopt to manage environmental issues. The authors, Esty and Winston present solid examples from successful organizations like Bp, IKEA, Toyota and Nike that already achieved environmental triumph. Through this book, the readers will learn how to concentrate on their work while implementing an environmental issue, moreover, ways to overcome pressures and strict deadlines. The businessperson will learn how to create originality that will ensure long-term growth. Through this book, managers would learn how to control cost risks and produce products that are earth friendly. The book was compiled after years of research on environment issues.The book consist of 12 chapters and 4 parts, and each chapter has an introduction that is almost two pages long. It has a broad index and detailed notes. Part 1 discusses the factors that promoting the green movement, and why they are long lasting. Part 2 provides methods to create green products to reduce costs and risks. Part 3 covers chapters 6-9, which consists of case history part. Last part of the book consists of chapter 10 and 12, which shows how executives work on the strategies and turn it into actuality. The Eight Strategies According to the authors, the eight important strategies that prosperous organizations adopt to establish eco- advantage are as follows: Figure 1 “green to gold Plays” accessed at Eco-efficiency: DuPont is one of the most leading organizations which by changing the product of “adipic acid” has saved the firm around two billion dollars (Esty and Winston, 105). Through this process nitrous oxide is reduced which produces more warming than other gases. Eco- efficiency is an excellent strategy adopted by DuPont through which it improves its productivity. Eco-Expense Reduction When the Company Dupont discovered that it has become the largest contributor to pollution, it made an aim to reduce it. The company’s CEO made strict targets to overcome the problem. They did this by making “the goal is zero” their mantra (Esty and Winston, 111). Hence, through adopting this strategy the company’s pollution was controlled to a huge extent. Value Chain Eco-efficiency Shoe making is a business, which causes serious health issues, and only few firms are aware of it. Timberland is one of the excellent shoe making firms, which differentiates it from others because it takes ecological issues seriously. Timberland provides its customers with genuine information regarding the environmental performance, moreover it is the “first organization that tested water based chemicals on non athletic shoes” (Esty and Winston, 112). Eco-Risk Control: Kelloge company is one of the popular businesses known for its Rice Krispies and Pop-Tarts. The company’s strategies changed ultimately when they found out that the “Spidy Signal toy in the boxes is harmful as the batteries produced toxins” (Esty and Winston, p.114). Such batteries are very common but only successful organizations like Kelloge strive hard to eliminate such environmental hazards. Eco-Design: Designing a product that meet the needs of the customers is always a challenging task. A successful company must not ignore the growing demands of green products as well as keeping in mind their own expenses. Eco-sales and Marketing Today customers also look for goods that are environment friendly, but not all organizations are conscious of the customer needs. Many businesses like Melitta and body shop are focusing and profiting from environment friendly products because they think that “green is cool” (Esty and Winston, p.127). Eco-defined New Market Space Toyota when launched its 21st century car, it kept in mind two important issues “Natural recourses and environment friendly” (Esty and Winston, p. 133). Moreover, keeping in mind the rising oil prices, Toyota made sure that their cars were fuel efficient as compared to the previous smaller cars. The car Toyota Prius has been a huge success today, owing to its eco friendly nature. Intangible Value The companies that work hard for keeping up their reputation are usually more successful than others are. BP, which is the biggest names in oil, launched a campaign, which cost in millions. This promotion was just to declare its promise to green practices. Their statement that came through ads in T.V. and magazines became popular when they declared themselves as “Beyond Petroleum” (Esty and Winston, p. 135). Hence, a product only works if it is eco-friendly and not bogus. Explanation of two Strategies in Detail Eco sales and Marketing The customers today look for products that are eco-friendly and companies are taking advantage, by making money through green products. The authors believe that although green product will cost the customer more money but he or she will benefit from the product to a huge extent, as a result, the business will flourish. Hence, the writers encourage executives to go for eco friendly products. Thus, a successful sales and marketing person would meet the demands of the customer by identifying their desires and keeping costs low. Winston and Esty provide examples of the companies that use green products today to enhance their business. According to the authors, organizations like Body shop, Melitta and Stop and Shop are one of the leading names that have opted for environment friendly products, and as a result, they are making more money than ever before. Moreover, the writers also cite example of Shell, which is the most leading oil companies. Shell has provided the customers with a cleaner gasoline keeping in mind the ecological hazards. “Shell Helix oils actively protect internal engine components with the aim of maximizing performance” (What makes shell leaders in oil). In this strategy the Authors however, laid too much emphasis on the negatives rather than focusing on the advantages of green methods. For example, “Eco-labels” are described as bad because it could have a negative effect on marketing because the consumer attitude may vary and some people could doubt the labels as un authentic and may not trust the product. Furthermore, the authors also indicate that although green products are becoming popular but some consumers may think that they mean “poor quality and less functionality” (p.132). Eco-defined New Market Space Green to Gold illustrates insightful examples of the various organizations that improved their name by employing green policies. Toyota’s latest success with Prius car is one of the examples that turned green to gold. Keeping in mind the public demand, Toyota launched a product that has done a tremendous job in achieving its target audience. However, some people criticized by saying that the car is not as eco friendly as the commercials show. For instance, the battery is made of the metals that are hazardous to the environment. However, in Esty and Winston point of view this notion is incorrect because the awareness that Pirus is friendly to the environment is what only matters to people. Esty and Winston provide executives with such enlightening examples from organizations like Toyota so that they prosper in their businesses. Toyota Pirus is no doubt extremely environment friendly automobile and their products they produce determine their success. The entire battery stack does not cost much, takes few hours to install, and is very powerful. The battery used in Prius is different from the alkaline batteries used in other cars, which are useless. The Prius is in the U.S. for more than nine years and is enough proof for its success. The buyers found Prius to be less expensive than other vehicles and because it was only available as a hybrid (Dunn). Hence, Prius gets high customer demand because it is reliable, takes up less time to fill gas, and saves money on fuel. To conclude, one can say that Green to gold is a well-researched book that is useful for any businessperson who desires success. All the environment protection suggestions provided by the writers are worth practicing. Winston and Esty did their homework well and it would be wrong if they were criticized. However, this book may not be practical for the common person rather it is useful only for executives. There are some drawbacks in the book as well; the readers may find a lot of repetition of the same points, which becomes boring. Owing to the presence of unnecessary statements, the size of the book becomes large; hence, the book that should be only of 150 pages long is of 300 pages. Green to Gold is outstanding and is worth reading despite few flaws but is very expensive. However, it provides a businessperson full guidance as how to take proper green initiatives that are cost effective and customer friendly. Moreover, the authors have provided sufficient examples of most thriving companies, as well as, the problems the companies encountered and how they resolved it. Works Cited Esty Daneil, C & Winston Andrew, S. “Green to Gold” New York: Yale University Press, 2006. Eco-Advantage. “Green to gold Plays”27.Feb, 2013. 2006. Accessed at http://www.eco-advantage.com/plays.php Dunn, Max. “Prius Marketing case study” 27 Feb, 2013, 2010 Accessed at http://www.academia.edu/239996/Prius_Marketing_Case_Study “What makes Shell Leaders in oil.” Shell Global. Read More