Exploring role of green management in enhancing organizational efficiency in petro chemical industry in India
Abstract Amidst growing environmental concerns of the consumers and the stakeholders, green management has assumed significant role in today's business world. Such green management practices have been evaluated with particular focus on the organizational capability developed towards improvement of environmental performance leading to better business performance in terms of product improvement, process improvement and green innovations in the context of Indian petrochemical industry. This study presents an empirical evidence of the impact of the green management practices on the performance of petrochemical industry. Quite consistent with the theoretical views, a positive and significant relationship between green management practices and organizational efficiency in the capital intensive petrochemical industry in India is established. The study reveals that proactive environmental attitude of top management is absolutely essential to successful implementation of green management practices that eventually culminate in enhanced organizational efficiency in addition to serving the great cause of protection of the environment. The concerned petrochemical industry has ample scope for improvement of organizational efficiency through green innovation approach. The findings contribute an advance in the understanding of green management practices that envisage use of eco friendly process and product involving reduced energy, man and material while generating minimum waste thus limiting the adverse environmental impacts to the lowest possible level. Through scientific measurement of the major effects, this study drives to the conclusion that effective green management culture should be developed within the organization beginning at the top level of the management hierarchy as the same will eventually be translated into efficiency outcome to the organization and immense benefit to the environment.