Innovation Culture to Drive Sustainable Profitability
29 July 2018
Innovation is of the utmost importance when creating business value with sustainability.
A culture of innovation will show that the organisation is transparent and comprehensive. MIT Sloan Management Review and the Boston Consulting Group have researched that nearly 50% of companies change their business models as a result of sustainability opportunities, with more success achieved when the innovation is more ambitious.
Providing a culture that supports innovation will be critical, and this starts from C-suite level. Management must acquire the skills to set up a corporate culture of sustainable innovation. Focusing on customer and supplier values, and the innovation within the supply chain will provide a strong base to achieve sustainable profitability. Technology also plays a key role in profitable sustainable development, and developing or procuring technology that promotes innovation is vital.
Create a strategy with long-term innovation as the main goal. Sustainability will be achieved if it is addressed in the beginnings of the process and be adapted into a corporate context. It is also important to pay attention to the details if you want to create a culture of sustainable innovation.
Challenge Advisory strive to help educate every employee, from the managing director to the mailman, in the practice of sustainability. We help clients develop sustainable, innovative technology with help from our partners in Research and Development. By assessing the logistical chain, Challenge Advisory assist in creating sustainable and disruptive value from end to end.