Business sustainability actions and supporting research reveals that innovation, as a focused pursuit, will be essential for business growth over the next decade as companies seek out new opportunities, improve their competitive positions and provide more sustainable value to their customers. T
With this being said, how do we ensure innovation remains a primary catalyst for business sustainability? How do we effectively build business sustainability cultures?
“R&D leaders are increasing investments in growth markets and breakthrough projects, but remain skeptical about their ability to sustain innovation. They struggle to effectively balance R&D governance and process with the flexibility needed for creativity and innovation. Leading innovators cultivate innovative environments by creating a safe learning environment where experimentation and fast failure are encouraged.” –Corporate Executive Board
Building on this concept, our sustainability consulting refers to the Innovation Excellence post which details one company’s pursuit of an innovation culture. Key questions addressed in this text include:
- An innovation entity, what for?
- How do you articulate innovation projects with business line activities?
- How do you spread innovation spirit?
- What is the importance of innovation portfolio management?
Business sustainability is the vehicle which enables your business to meet your goals of profit, growth, and revenue while positively impacting the environment and social realms of your business. By capturing creative ideas and inspired actions of external stakeholders who enable business growth, a company can create an innovative environment that promotes long-term success.