Dawn of Environmentally Sustainable Strategies in Sri Lanka: A Case Study

V. P. K. P. M. Bandara

Chapter 12 in Businesses: Resilience and Sustainability:Evidence from Emerging Market Developing Economies, 2023, pp 213-226 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The environment is one pillar of sustainable development. At present, industries desire to become eco-friendly, while it has been declared that 95% of environmental pollution is caused by industrial processes. CBL Exports (Pvt.) Ltd., Sri Lanka, is a leading biscuit manufacturing and exporting company that is truly encouraged by the environmental sustainability concept. The objectives of the research are to evaluate the effectiveness of environmentally sustainable strategies, identify the issues and suggest solutions for one particular company, CBL Exports (Pvt.) Ltd., in Avissawella. As for the data collection method, questionnaires and case studies were used. There are four independent variables, water management, energy management, waste management and green ornamentation, and the effectiveness of environmentally sustainable strategies was the dependent variable. The null hypothesis was that the environmentally sustainable strategies are not effective in CBL Exports (Pvt.) Ltd., against the alternative hypothesis of environmentally sustainable strategies being effective in CBL Exports (Pvt.) Ltd. Coefficient of correlation and regression analysis were employed by using Mini Tab and SPSS tools and, finally, the t-test was done to test whether the variables were coincidentally significant or not. Based on the analysis, it was declared that all independent variables have a positive effect on the dependent variable. For the better practice of environmentally sustainable strategies, increased employee participation along with updated strategy applications was suggested.

Keywords: Business Resilience; Sustainable Business Strategies; Micro Small & Medium Enterprises; Women Entrepreneurs; Stock Markets; Developments in ASEAN Economies (search for similar items in EconPapers)
JEL-codes: L21 L26 M1 M14 M16 Q01 (search for similar items in EconPapers)
Date: 2023
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