Sustainable Strategy to Sustainable Business: An Empirical Analysis on Energy-Efficient Light Bulb

Abstract

Energy Efficiency is one of the key elements of the Environment-Economic aspect of the three spheres of sustainability. To make any business sustainable in the light bulb industry, it could be applied as a strategy to gain competitive advantage in the functional level. This paper investigates the market awareness of environmentally friendly products such as the energy efficient light bulb (or energy bulb) and its market availability, demand, quality and brightness, low waste (e-waste), sustainable consumption (durability), warranty, commission rate, and profitability. It also finds that energy efficiency and low waste are valuable strategies to create market demand for energy bulbs to make sustainable profit and product stewardship eventually to contribute to the e-waste management. A 500 sample survey is conducted in Bangladesh to analyze the energy bulb buyers’ and sellers’ view about this product locally. After the results and interpretation through descriptive statistics and regression of the variables, this study finally draws a pathway model to show that sustainable energy definitely leads to sustainable business. From the buyers’ point of view, sustainable consumption and low waste as well as from the sellers’ point of view profit and sustainable product both support sustainable business backed by sustainable strategy, energy efficiency being the key. To make the competitive advantage enduring, ensure profitability and profit growth for the shareholders of the corporate world, especially the electrical and electronics industry; with the energy bulb in particular, an energy efficiency strategy could be implemented in businesses worldwide. As the COP26 (The 2021 United Nations Conference on Climate Change) limits the global warming rise by 1.5%, energy bulb has been the pioneer in promoting sustainable products to adopt the sustainable strategy to limit carbon emissions globally.