Corporate environmental management- business paper Assignment

Corporate environmental management- business paper - Assignment Example Although there has been increasing awareness about the connections between business and the environment, there is a gap in the knowledge base about how to best address the environmental issues that affect business performance. The project with McDonald’s contributed to this knowledge base by providing an example of how best to manage resources in order to minimize environmental pollution. The collaborative project was highly publicized so that EDF’s work received numerous accolades. Because the research project received widespread attention, it enhanced industry-wide awareness regarding EDF’s corporate environmental agenda. It had a positive effect on the public perception of EDF so that the company could continue to pursue its agenda of promoting the use of economics in the analysis of environmental problems. EDF specialized in advocating the use of market based incentive systems to improve the environment. The joint project with McDonald’s enabled EDF to capitalize upon this expertise. EDF was an environmental group that possessed a combination of economic, scientific and legal expertise enabling the company to address environmental concerns effectively. The focus of the collaborative project with McDonald’s was to reduce the restaurant’s use of material and generation of solid waste. It involved economic analysis in which the company possessed expertise. Therefore the project was concluded successfully and received positive press coverage. By collaborating with large corporations, EDF would be able to keep pace with the change that is taking place in the industry. In order to maintain the effectiveness of its program, the company would have to keep pace with the changes in market drivers and regulatory drivers. This objective was met when EDF participated in the collaborative project with McDonald’s. The environmental group specialized in the use of economic analysis to address environmental problems. When McD onald’s implemented the plan, it improved the effectiveness in supplier chain management. By implementing new management mechanisms and accountability procedures, McDonald’s was able to improve business performance. Because the project was highly publicized, it raised awareness about the connections between business performance and environmental issues. Although the project focused upon materials improvement and waste reduction opportunities, it raised awareness about the effectiveness of using market-based incentive systems to address environmental problems. Since this was the area of EDF’s specialization, the collaborative project contributed to the company’s ability to affect market-based behavior. As a result the company gained reputation that would interest other companies to hire their expertise as well. Therefore from EDF’s perspective the collaborative project with McDonald’s was a success. Question 2 The successful completion of the collaborative project with McDonald’s enabled EDF to promote the use of economic analysis in addressing the connections between business performance and environmental issues. Therefore the environmental group should follow up the McDonald’s project by developing innovative solutions for environmental dilemmas. In setting the strategic focus, EDF would have to consider several factors. One of these factors was maintaining the diversity of approaches. After the