ECONOMICAL, SOCIAL AND ENVIRONMENTAL ADVANTAGES OF RECYCLING

Economical, Social and Environmental Advantages of Recycling

Table of Contents

Introduction4

Discussion5

Terms of Reference OR Purpose of Report5

Methodology for the Report5

The Company5

Background of the Company6

My Placement within the Company7

Methodology7

SWOT Analysis of RomWaste Solutions8

TOWS Strategy Matrix9

PESTEL Analysis11

PEST Analysis11

Political Drivers11

Economic Drivers12

Social Drivers12

Technological Drivers13

Findings13

1.The Economical Advantage of Recycling13

Significance of Recycling Jobs17

Revenue Assumptions of RomWaste Solutions19

Revenue from Recycling Fee19

Revenue from sales of recyclable materials20

Revenue from sales of recycled materials20

2.The Environmental Impact of Recycling20

Reduction in Pollution20

Recycling Conserves Resources21

Recycling Reduce Deforestation21

Environmental Legislation and Business Recycling21

3.The Social Advantages of Recycling22

Conclusion24

Recommendations24

References26

Appendix30

Economical, Social and Environmental Advantages of Recycling

Introduction

The recycling industry is making a considerable input to the enhancement of our environment by cutting emissions of greenhouse gas, delivering substantial energy and water savings, in addition to conservation of non-renewable virgin resources. Manufacturing materials the second time around is less energy intensive and much cleaner than when using raw materials (www.sustainability.vic.gov.au).

Recycling is defined by Herbert (2000) as the process of taking materials that are no longer needed and turning them into new products that can be used. The benefits of recycling include reduced environmental degradation and greenhouse gas emissions, economic savings, and job creation. A variety of products can be recycled; the complexity of the process depends on the materials being recycled and those being generated. It is important to keep in mind that recycling is the last step in waste reduction: the first step is reducing consumption of products, the second step is reusing the products that are consumed, and the third step, as a last resort, is recycling products that can no longer be reused.

Tsai (2008) has defined waste recycling as a major indicator of environmental sustainability in the quest of sustainable development. Many businesses are now setting off to come round to the benefits of sustainable business waste collection. (www.therecyclingcompany.co.uk) In this paper we look at the Romwaste, who is planning to set off its recycling business. The potential social, economical and environmental benefits of recycling will also be analysed.

Discussion

Terms of Reference OR Purpose of Report

This report is basically intended for the Placement Learning Project of European Business School of London. (www.ebslondon.ac.uk) It really provides me the opportunity to capitalize on the practical application of theoretical sustainable business knowledge of recycling business of Romwaste Solutions. With the execution of this report, I have not only experienced reality and got a chance to understand why and how business "behaves" but more importantly I grasp the idea that how a business should behave in sustainable manner.

Methodology for the Report

Research methodology followed in the study is a compound one, encompassing both types of sources of data i.e. secondary as well as primary. The study is supplemented by information secured through informal interviews with colleagues, senior executives to ascertain the recycling business of RomWaste. The tentative reports of the business are also analysed as the secondary source of data. The views and feedback of senior management and my colleagues help me to carry out the SWOT and PEST analysis of the ...