Why Developing Sustainable Innovation Solutions Should Be Every Company's Focus
Innovation is the driving force behind the world’s most remarkable creations. The desire to make things better, faster, and more efficient for everyone is a noble cause. Change is good, but it isn’t free from ramifications.
Sustainable Innovation requires a balance of the elements. Sustainable innovation solutions exist to ensure innovation processes remain practical for the customer and profitable for your company long-term. Grasp sustainable innovation solutions and your company will experience growth faster than Usain Bolt.
What Are Sustainable Innovation Solutions?
First things first, before we dive into the deep end, let's wade into the shallows by differentiating sustainability and sustainable innovation:
- Sustainability is innovation that focuses on environmentally-friendly products and services.
- Sustainable innovation is products and/or services that will stand the test of time.
It's important to know the difference between the two because the two terms are often used interchangeably but don’t actually mean the same thing. Now that we do know the difference, it's time to dive into the deep end, or cannonball if you prefer.
The innovation process is complicated. The timeline between idea formulation and prototype development involves thousands of decisions. Without an airtight business plan, company resources could slip by as silently as the “g” in lasagna (Sorry, it’s almost lunchtime and we are starving). Sustainable innovation solutions promote longevity by eliminating unnecessary asset waste.
Managing both a team and a timeline can get tricky. Those in leadership positions often find themselves in need of support and additional resources. This quandary has led many industry leaders to ask themselves, “How can we make innovation sustainable?” By addressing each of the conditions that make change unendurable, we can achieve sustainable success.
Address Inaccessibility and Foster Creativity
Ingenuity starts with an idea. Innovation as a service supports those ideas by providing the tools and software needed to make insight actionable. It is often said that human resources are the most valuable resources of all. In part, this is because your employees work more closely with your clients than anyone else. Each one has a unique insight regarding your business relationships and processes.
Tapping into this dispersion of company knowledge requires some digging. The goldmine underneath, however, is well worth your discovery efforts. Innovation management prioritizes conservation, but it also aims to utilize your company’s resources to their fullest potential. Making opportunities tangible to your employees is step one in incentivizing intrapreneurship.
Demolish Cultural Roadblocks
One of the principal tasks that innovation solutions undertake is the implementation of innovation culture. In other words, they engage your employees! To encourage ambition, you must foster an environment that promotes intrapreneurship. Innovation is often a series of trials and errors, so the perceived freedom to experiment is fundamental.
To create a progressive and motivational workplace, you must validate creativity. Innovation solutions not only grant employees the option, but also the coaching needed to take on desired responsibility. This heightened sense of autonomy is vital to innovation culture. Additionally, an innovation-friendly environment boosts morale. Higher morale leads to increased employee retention, which in turn eliminates superfluous staffing expenses.
Piece Together Fragmented Workflow
Collaboration and individuality both play significant roles in innovation. Accordingly, the ability to balance these elements is crucial. The innovation process involves many minds across many departments. Breaking down communication barriers, breaking down silos, and encouraging cooperation requires consistent effort.
Innovation management bridges the gaps in your business processes. It helps establish common goals and the procedures through which they must be achieved. Then, it identifies ways to conserve the time and energy it takes to complete them. When each division of your enterprise understands the other, collaboration is inevitable. In addition to enhancing the innovation process, sustainable innovation solutions improve workflow in its entirety.
Why Should My Company Focus On Sustainable Innovation?
Many companies turn to innovation solutions when they want to prioritize growth. The emergence of the environmental, social, and governance (ESG) investment criteria boosted the importance of long-lasting innovation with a positive social impact—in other words, making sustainability sustainable in innovation efforts Without incorporating the element of environmental and social sustainability in its vision, a business could be severely lacking the capacity to branch out. Sustainable innovation solutions may look different depending on individual business models and goals. Regardless, their primary objectives remain constant:
- Evolution of business models - Contrary to popular belief, adaptability allows you to be here for a good time and a long time.
- Identification of new sources of revenue - Once you’ve begun to establish yourself as a trailblazer in your industry, opportunity knocks.
- Development and betterment of products and services - In an ever-changing market, avante-garde is attractive.
Is Sustainable Innovation Good for My Brand’s Image?
Sustainable innovation solutions solidify your company’s reputation as pioneers of your industry. Not only does this branding increase the probability of investment partnerships, but it entices consumers to follow along for the next big thing. If any of the above factors are on your company’s agenda, your company could benefit from shifting its focus towards sustainable innovation.
Developing Your Sustainable Innovation Solutions With rready
rready has been helping organizations create sustainable innovation strategies for years. Cultural shifts don’t happen overnight, but comprehensive sustainable innovation solutions like the rready kickbox can jumpstart your movement. The best way to develop state-of-the-art solutions is to empower the people who know your company best. When you’re ready to power your people, we’re rready! Contact us today for a more tailored solution to all your innovation needs.Get started today