Industry leaders can facilitate impactful change through sustainable, innovative solutions. Innovating sustainably is not only beneficial for businesses, but is an opportunity for a green future.
What is Sustainable Innovation?
Sustainable innovation involves intentional, sought-out changes that contribute to improvement regarding a business’ growth. Sustainable innovation ensures positive, long-lasting outcomes due to a shift in a company’s products, services, processes, and strategies.
Tradition vs. Sustainable Innovation
Innovation for sustainable development is different from traditional innovation due to its core features:
- Contributes to sustainable firms
- Requires systems thinking
- Embedded into the company culture
Unlike traditional innovation, sustainable innovation is a long-term investment that goes beyond profit. Businesses that engage in sustainable innovation understand that they are part of a system that is affected by their decisions. When sustainable innovations are deeply rooted in corporate culture, actions are sustainably-oriented and inclusive.
What Has Led to Sustainable Innovation?
Sustainable innovation has become a widespread ideology and has been adopted because of:
- Wicked problems
- Expansion of knowledge networks
- Market demand
- Laws and regulations
- New business opportunities
- Opportunities for inter-functional collaboration
- Corporate culture