DEVELOPMENT OF AN ECO~BUSINESS DIRECTORY: APPROACHES AND CHALLENGES

Abstract

Eco-business is the provision of products and services that are environmentally friendly.When the preferences of the society are heading towards environmental safety, ,manufacturers need to adjust their production and marketing strategies to respond to thischange in consumer preferences. Eco-business aims at exploiting the market mechanismto provide the market with more environmentally responsible products. This studypresents the approaches used and challenges faced in the development of an eeo businessdirectory for Sri Lanka

The building of the preliminary model for an eco business directory was done with thehelp of five types of surveys. Firstly, an island-wide industrial survey has been carried outwhich included major industries, hotel industry and minor industries. Secondly, an expertopinion survey was carried out to review the existing situation on a sectoral basisregarding eco-friendly products/services and to explore the possibilities and recentdevelopments of new products and services. Thirdly, a survey of existing literature wasdone in order to understand experiences regarding eco-friendly products in differentcontexts. In addition, NGO activities related environment has been collected in order toidentify gaps in public participation. In addition, available financial mechanisms for ecoindustries have also been listed.

The main challenges faced in the preparation was the limited response from the relevantparties for the surveys. The lack of awareness on the 'eco friendly' products and serviceswas another issue which need further theoretical and practical definitions

If eco ousinesses are to be establisued as a complete business s.rategy, environmentalclaims had to be accurate and independently substantiated. It is not likely that marketplace would resolve these problems on its own. The paper elaborates on the need ofguidelines and specifications on eco friendly products and services.