12: GREEN BUSINESS STRATEGIES IN THE PRECISION ENGINEERING INDUSTRY IN SINGAPORE

Increasing awareness of the continuing degradation of the natural environment has pushed businesses to adopt environmentally-friendly business practices. Large multinational corporations have adopted environmentally-friendly policies and practices to protect their brand names and reputation, and to project an image of a responsible corporate citizen. In line with this movement, the need to comply with government regulations as well as the demands of nongovernmental groups championing the green cause, have motivated companies in the supply chain serving these large corporations towards a greater awareness of green issues. In Singapore, the precision engineering industry is one of the key supporting groups that contributes to many multinational companies…