As our population grows and we use more natural resources than ever, the issue of renewable energy sources becomes ever more pressing. Innovation isn’t only important in the business world, it’s also crucial for ensuring the future of our planet.
Most people agree on the importance of sustainability in innovation, so why is it difficult to deliver? In this article, we’ll explore three hurdles to sustainable innovation: it’s often not considered by innovators themselves as they plan their projects; sustainability is not framed as an exciting and imaginative opportunity; and that sustainable innovation may not fit into a company’s ongoing processes.
Sustainability is one of the key emerging trends in recent years. But much like innovation, it is a maturing discipline with few established business practices and lots of evolving methodologies. Sustainability champions at organizations often face the same challenges that innovation champions do: lack of senior level buy-in, lack of process, lack of resources. The benefits of successful sustainability and successful innovation are similar, as well: a competitive advantage, improved profit margins, and better brand sentiment from employees and customers.
Last week Unilever announced research showing that one-third of consumers now purchase its brands based on their good social and environmental performance, but went on to suggest that brands are missing an opportunity from not promoting sustainability effectively. Getting this right could unlock a further $1trn market opportunity for sustainability innovators.
The IoT (or "Internet Of Things") is becoming a more popular topic of conversation these days. Many have already realized this with regard to individual use (say, through fitness trackers) or "smart homes." But the IoT can also have a huge effect on the workplace - here's how.
Eric Reis first introduced the concept of Lean Startup in 2008. Today Lean Startup is deployed far beyond entrepreneurial circles and is taking root in large, complex organizations looking to improve their new product success rates – and in the process build lean cultures. This is very good news. Too often the processes corporations use in pursuit of innovation can actually erode their capability to innovate. Still, when applying the principles of “Build – Measure – Learn” to initiating Lean practices in corporations, there is room for improvement…and possibly even for a pivot.
What is the real value of participating in innovation programs? In this article Rob Hoehn looks at his favourite example, working with the Department of Energy. They started by asking the public what the most pressing problems were when it came to making solar a cost-competitive resource for every citizen and then asked that same crowd to come forward with possible solutions to the top-voted problems.
Global diversity is in crisis. Scientists have recently announced that our planet is in the middle of the sixth global mass extinction event and this time it’s man-made. Not since the time of the dinosaurs have so many species been under threat and it’s not just the environmental infrastructure which should be giving us cause for concern.
In this chapter of The Innovation Formula Langdon Morris examines five forces of change: technology, science, culture, the human population and climate change. The convergence of these five trends largely defines the modern world and the market environment to which we must adapt and respond. Understanding them will set the framework for the choices you will have to make, and the processes you will implement in order to create and implement your own organization’s innovation process.
This article relates selected multidirectional patterns of change—“force fields”—in the business environment to innovation strategy within the context of Zen philosophical principles. Three force fields are selected for brief evaluation: 1) domestic vs. global markets, 2) economic growth vs. environmental quality, and 3) entrepreneurs vs. customer base. Given the omnipresence of force fields in the 21st century, businesses should maintain flexible structures for innovating both incrementally and radically. They also need to engage in collaboration at all institutional levels. Collaboration can facilitate the Zen objective of integrating conflicting ideas, a key feature of innovation over the long run.
Innovation policy is about the challenge of contributing to the wide objectives such as employment, sustainability and economic growth. How to approach such a task? The answer is simple but the effort complex: Aim for a strong innovation eco-system. Referring to the case of the IMP³rove Euromed Project the article suggests four systematic steps on how to establish an effective, innovation inducing eco-system.
Running a successful enterprise innovation management program can be a challenging mission. Multiple factors have to be considered,each of which affect potential outcomes. One key aspect is the level of support an innovation program receives from an organization’s management. Connecting the needs of top-down management with the strategy and architecture of an innovation program will always lead to greater levels of success.
SMEs have sustainability on their radar. Their main goal is economic sustainability. To achieve this goal, they can take ecological and social sustainability as an opportunity for innovation instead of just considering it as a mere cost driver. Thus innovation and sustainability become the two sides of the coin called profitable growth.
Insurance providers aren't particularly well known for their fast-paced innovation. In truth however, the insurance industry is on the cutting edge of corporate environmental awareness and has been for some time. Insurance providers also manage their innovations: They introduce new ideas but don't adopt them at a faster pace than they can support.
Being successful at innovation is a skill. One that takes time, patience, strategic intelligence and amongst other things, funding. Many organisations succeed only after they have experienced embarrassing failures and learnt some tough lessons in the process. How do others succeed with their innovation efforts? What is the secret? In this article we use the inspiring philosophy of Steve Jobs as stimulus and ask innovation managers about their “secret sauce for innovation success”. Learning from others reduce risk because resurrecting the organisational “innovation corpse” is not an action anyone should be tasked with.