Promoting Innovation in Business Sustainability

Does your company have the right structures in place to promote eco awareness and foster innovation?  Ask your key stakeholders.

The pursuit of business sustainability does not have to come from any one source.  It can generate from within your own company at the ground level, from the customers you service, or your suppliers.  Often employees have the information and ideas to make a significant but are limited by the structures of the organization.  One key to success is to create a corporate culture that encourages and rewards innovation at all levels internal to the organization as well as external to the company.

The World Business Council for Sustainable Development poses 4 questions in the innovation process to ensure success:

How can we ensure sustainability is part of the creative process?

How can we ensure that sustainability considerations are part of the management of a development process?

When and how can external viewpoints enrich the creative and development process?

What processes are going to leverage the value of our intellectual capital?

An open innovation approach to business sustainability offers stakeholders the opportunity to become engaged in the future of a business.  Recognizing that key stakeholders have a vested interest the success of the company, creates openness to new ideas that promote business success.

Enabled by the right structure, stakeholder generated innovation can be the company’s greatest asset for change.

Top level support for an open innovation culture.

A consistent management approach that promotes stakeholder  engagement.

Open and consistent communication of business sustainability goals.

Cohesive policies and procedures that clearly define incentives.

One approach is to look to the leading edge to see what others are doing. In 2007, over half of the companies that appeared on the Dow Jones Sustainability Index (DJSI) also appeared in Innovaro’s “Innovation Leaders” report.  The common denominator across these leading companies is the ability to create and deliver new innovation by addressing societal and environmental challenges in a way that delivers business sustainability and long term value.

Studies of the Innovative Process and demonstrated results show there to be a strong relationship between sustainability and innovation.  In fact, leading companies like Toyota will tell you, with product introductions like the Prius, that sustainability was the driver of innovation.

Most corporate sustainability concepts that stick don’t originate from corporate edicts or a grand idea from the top.   They spring up from the seeds of innovation from within the organization.   It is clear that innovation will be essential for businesses to thrive and survive over the next decade.  Companies becoming more environmentally, socially and economically responsible are driving innovations in products, services and sourcing.  Commitment to sustainability uncovers opportunities to explore, develop, collaborate, and innovate within your organization and your industry.