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The discussion of plastic reduction has long been a topic of concern but only recently acted upon. The government of Canada (like many around the world) is taking action to educate themselves and the public on the impacts of plastic pollution on both human and ecosystem health and how our actions can minimize harming and wasting valuable resources.
"Currently less than 10% of plastic used in Canada gets recycled and about 3 million tonnes of plastic waste is thrown away each year in the country" (BBC, 2019) where most of these products can take hundreds of years to biodegrade.
Increasing awareness of this global issue is the first step toward making more informed decisions for businesses around the world. As we have learned previously, a lack of education on the materials available could be a reason business owners are weary of changing to a more sustainable wrapping and as a result, fear arises that the initial cost of the plastic replacement will increase prices for consumers, decrease profit for producers, and decrease economic activity. However, this could enable innovations where companies can re-vamp their packaging to be more sustainable and in touch with the current consumer expectations and create an even "playing field" for everyone.
Generating cash is the ultimate responsibility for managers today. Cash and cash flow are considered the "lifeblood" of a business.
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