Green Management – The New Normal for Sustainable Development of Business Houses

Abstract

Traditional Management Practices of business houses have become obsolete. Reframing and redesigning their operations according to contemporary environment has become essential. One such tool is Green Management. Green management principles are future oriented and their major objective is sustainable development. Green Management includes recognizing the operations of the business which affects the environment and making them more sustainable. Modern business houses have ample opportunities to take care of environment along with their growth by the way of green management. These practices also add reputation to business and stimulate innovation which in turn will have a positive impact on overall society at large and a business community in particular. Also, green management helps businesses operate in ways that helps to solve environmental, social and government issues as whole. The main focus of this paper is to understand the concept of green management such as Green Finance & Investment, Green Marketing and Green Human Resource Management. Every individual business house should understand the need of protecting the environment and in turn contribute in all possible ways in rebuilding the same. The paper also highlights a model for sustainable development of business in terms of application of green management principles.