THE IMPACT OF ENVIRONMENTAL REGULATIONS ON BUSINESS PRACTICES
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- NGN 5000
ABSTRACT: THE IMPACT OF ENVIRONMENTAL REGULATIONS ON BUSINESS PRACTICES
This research aims to: 1) evaluate the effects of environmental regulations on operational costs; 2) analyze the compliance strategies businesses adopt; and 3) assess the long-term benefits of environmental sustainability. The survey research design is selected for its capacity to collect varied data from a wide population. A sample size of 340 businesses, derived using Taro Yamane’s formula, includes companies from the industrial sector. Port Harcourt, known for its industrial activities, serves as the location. The survey instruments achieve a reliability coefficient score of 0.86. Results indicate that environmental regulations significantly affect operational costs and drive businesses to innovate in compliance strategies. Adopting sustainable practices yields long-term benefits, including cost savings and enhanced corporate reputation. The study recommends that businesses proactively engage with regulatory bodies and invest in sustainable technologies to balance compliance with profitability.
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