THE CHALLENGE OF GOING GREEN

Responding to environmental problems has always been a no-win proposit ion for managers, report Noah Walley and Bradley Whitehead in ''It's N ot Easy Being Green'' (May-June 1994). Help the environment and hurt y our business, or irreparably harm your business while protecting the e arth. Recently, however, a new common wisdom has emerged that promises the ultimate reconciliation of environmental and economic concerns. I n this new world, both business and the environment can win. Being gre en is no longer a cost of doing business; it is a catalyst for innovat ion, new market opportunity, and wealth creation. The idea that a rene wed interest in environmental management will result in increased prof itability for business has widespread appeal. in a new green world, ma nagers might redesign a product so that it uses fewer environmentally harmful or resource-depleting raw materials - an effort that if succes sful could result in cuts in direct manufacturing costs and inventory savings. This new vision sounds great, yet it is highly unrealistic, W alley and Whitehead argue. Environmental costs are skyrocketing at mos t companies, with little chance of economic payback in sight. Given th is reality, they question whether ''win-win'' solutions should be the foundation of a company's environmental strategy. Twelve experts asses s both view-points and offer their comments.