Exploring Sustainable Business Innovation Structures

“The wave of creative destruction looming over companies like Eastman Kodak Co., Blockbuster Inc., Barnes & Noble Inc. and the record labels has been focusing the minds of American executives on two questions: Are large companies able to innovate quickly enough in an age of rapid disruption? And if they can, how do they do it?”

This lead-in to the Wall Street Journal post, Avoiding Innovation’s Toll, which describes the potential fate for many organizations lacking in creative and sustainable business models. In contrast, the article explains how companies that do manage to survive are ruthless about change.

An accelerated and comprehensive approach to traditional internal R&D programs is to allow the external world into the creative process. Our sustainability consulting firmly supports an open innovation approach to business sustainability. This offers stakeholders the opportunity to become engaged in the future of a business. It also recognizes that all key stakeholders have a vested interest in the success of the company and creates openness to new ideas that promote business success. The key is effectively engaging resources at all levels of the value chain.

Include sustainability concepts in your employee personal development plans.
Engage financial stakeholders in the sustainability conversation.
Set direction for business sustainability alignment within the supply chain.
Recognize the ‘innovative customer’ as a key contributor for new product development.

From our sustainability consulting experience, it is clear that innovation is essential for small businesses to thrive and survive over the next decade. However, the article above demonstrates how even the most stable of organizations can fall prey to stagnate business models. Taiga Company encourages every organization to leverage the creative powers of their stakeholder networks.