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Report on Benefits Of Adopting ISO 14001

   

Added on  2020-04-07

11 Pages2967 Words137 Views
BENEFITS OF ADOPTING ISO 14001 1BENEFITS OF ADOPTING ISO 14001 FAR OUTWEIGH THE COST OFIMPLEMENTINGNameCourseName of Course instructorInstitutionThe City and State locationDate

BENEFITS OF ADOPTING ISO 140012Table of ContentsISO 14001 (Environmental Management System)..............................................................3Motivations leading a Firm to Adopt ISO 14001................................................................4Benefits of EMS adoption to Corporate..............................................................................4Resource Wastage And Cost Control..............................................................................5Compliance With Legal Requirements............................................................................5Improvement Of Corporate Image And Credibility That Enhances Financial, Social And Market Value.......................................................................................................................6Enhancing The Involvement Of The Management Class To Company Objectives........6Promotion of Fast And Innovative Improvement On Processes As Well As Response To Issues......................................................................................................................................7Reduction On Employee Turnover..................................................................................8Conclusion...........................................................................................................................8References..........................................................................................................................10

BENEFITS OF ADOPTING ISO 140013Benefits of Adopting ISO 14001 Far Outweigh the Cost of ImplementingOver the past few decades there has been an increasingly growing moral pressure for companies to proactively evaluate their impact on the environment, particularly with consideration of adopting the ISO 14001 environmental management systems. Studies have established that businesses contribute the most to the deterioration of environment through pollution and therefore need to work towards environmentally sustainable business operations. While businesses remain reluctant to adopt the ISO 14001 EMS, owing to the cost of implementing the system, it is widely suggested that corporate commitment to EMS does not only benefit the environmental conservation but creates a win-win situation where business stands to benefit in terms of performance if they comprehensively adopt the system. This essay seeks to highlight the variety of values that a business stands to gain by holistically adopting ISO14001; a gain that far surpasses the cost and challenges incurred in inculcating the environmentalmanagement system in their corporate policy level. ISO 14001 (Environmental Management System)Since the advent of ISO 14001, environmental management system in 2015 there has been a debate on the cost benefit analysis factor of pro actively adopting the system. ISO 14001mainly involves integrating environmental factors within business decision processes, strategic operations and operations. Although adoption of EMS is depicted as voluntary within businesses, the increasing pressure for its implementation from customers, governments and business stakeholder has led to ISO 14001 becoming a dominant debate in the current times. Coupled with the adverse effects facing the global community such as global warming, diminishing raw materials, increased pollution levels as well as overflowing waste sites, environmental preservation becomes a moral call to action among all stakeholders to commit, plan, implement and review their activities to mitigate their impact on the environment(Prajogo, Tang and Lai 2012). However, businesses need to create a balance in achieving the triple bottom line that includes profits, people and planet given the scarcity of resource and the growing need to remain competitive. In this case EMS implementation is likely to present companies with

BENEFITS OF ADOPTING ISO 140014significant benefits with regards to strategic direction, operations and overall performance of the company. The comprehensiveness of ISO 14001:2015 system emphasizes on an a holistic optimization of resource utility across all aspects of any business, which may include supply chains, operations, marketing among others with an aim to develop sustainable businesses that minimize their impact on environment. The system mainly emphasizes on aligning the environmental agenda to corporate agenda at the policy making level and subsequently in the corporate culture development. While some companies may view EMS adoption as a burden thatcomes at considerable cost towards conserving the environment, studies illustrate that ISO 14001provide an opportunity to drive company performance by adding value to business value proposition.Motivations leading a Firm to Adopt ISO 14001There are two main motivators that prompt companies to adopt an EMS namely external pressure and internal pressures. External pressures involve demands for environmental conservation from external parties such as government and environmental lobby groups that havea vested interest in environment preservation. Internal pressures are borne out of a company’s understanding of the strategic benefits that could be gained from adoption of EMS. Customers and suppliers are increasingly becoming environmental conscious which may pose as a threat to company operation in an event where ISO 14001 certification is demanded. Notably, internal motives are evaluated as the most effective drivers of EMS adoption as they would enhance the company’s commitment to appropriately internalize EMS (Iatridis and Kesidou 2016). Furthermore, by putting EMS hand in hand with business agendas, the long-run outcome is sustained company performance and an environmental improvement.Benefits of EMS adoption to CorporateThe ISO 14001:2015 integration involves seven key stages that include: policy development, initial review of scope of environmental factors a company might impact, rolling out an environment program with objectives that company aims to achieve, Implementation of

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