Profitability
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A business makes money by increasing the efficiency of its operations or increasing its market share. CP can do both.CP practices involve identifying stages then taking steps to reduce energy and water usage, and maximize the use of resources, all translating into increased savings and revenue generation respectively. Savings also result from decreased cost for waste disposal and treatment and reduced liability risks.
Satisfying environmental trade requirements can lead directly to increased market share and |
increased marketability from a raised business profile.
Trade
Because of globalization and international trade policies, the Caribbean has to compete with countries all over the world for the sale of their products and services, and The World Trade Organization (WTO) has established many trade and environmental requirements which all countries must meet in order to trade internationally. Therefore, it is necessary for Caribbean SIDS to adapt to global standards, especially since the zone of the Free Trade Area of the Americas (FTAA) is expected to come into effect soon. Even regionally, if you employ CP approaches, your perspective on CSME will change from one of being defensive to that of anticipating this opportunity to increase your market share.
