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Summary Organizing Sustainable Innovation
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Organizing sustainable innovationLecture 1
Why is sustainability not the same as corporate social responsibility?
- The concepts are related to each other
Sustainability refers to the ability of an organization to meet the needs of the present without
compromising the ability of future generations to meet their own needs. It encompasses
environmental, social, and economic considerations and seeks to balance these three
elements in a way that is both responsible and equitable.
CSR, on the other hand, refers to a company's obligation to take into account the impact of
its decisions and activities on society and the environment. While CSR initiatives can
contribute to sustainability, they do not necessarily ensure long-term sustainability in and of
themselves. CSR is often seen as a way for a company to improve its reputation and
relationship with stakeholders, rather than an intrinsic part of its business strategy.
In summary, sustainability is a broader concept that encompasses the long-term health and
viability of a company and the planet, while CSR is more focused on a company's ethical and
philanthropic responsibilities.
Why is business sustainability important?
Access to goods to fulfill our needs, offer employment opportunities
Negative impacts on employees, consumers, and on social and ecological system
Tackling grand challenges points to the impossibility of carrying on business as usual
Economy depends on a healthy society and an intact environment
,Corporate businesses may incorporate sustainability in their business model because:
They have environmental responsibility:
o Sustainability helps organizations minimize their environmental impact and
reduce their carbon footprint. By adopting sustainable business practices,
companies can conserve natural resources, reduce waste, and minimize their
impact on the environment.
Long-term viability: (long-term health and stability of a company, and its ability to
survive and thrive into the future.)
o Sustainability is critical to the long-term viability of a business. Organizations
that prioritize sustainability are better equipped to manage risks, adapt to
changing market conditions, and capitalize on new opportunities.
Stakeholder trust and engagement:
o Companies that prioritize sustainability often enjoy greater trust and
engagement from their stakeholders, including customers, employees, and
investors. This can help to build strong relationships, increase customer
loyalty, and attract top talent.
Improved financial performance:
o Companies that prioritize sustainability are often more efficient and have lower
costs, which can lead to improved financial performance. For example,
companies that use renewable energy sources, minimize waste, and adopt
more sustainable practices can reduce their energy costs, which can have a
positive impact on their bottom line.
Positive impact on society: Sustainability can also have a positive impact on society
by promoting environmental stewardship, creating jobs, and contributing to social and
economic development.
The challenge of achieving sustainability is an opportunity for innovations. In many
industries, high sustainability standards push for innovation.
Green innovation
The text is about the efforts made by entrepreneurial leaders in established businesses to
incorporate green innovation into their practices and the resulting impact on the businesses.
The authors of the text believe that green innovation is important for companies and will
require them to reshape their value chains and use natural resources in innovative ways. The
authors also distinguish between evolutionary and revolutionary innovations, with the latter
having greater costs, changes to the business, and potential risks, but also creating greater
customer value and opening up new market opportunities. The authors studied companies
based in the US and identified four value-creation strategies for green innovation and
discussed them in terms of "green innovation games." The authors suggest three managerial
roles for playing these games: Unlocker, Connector, and Transformer, which focus on
enabling and driving corporate sustainability to create a competitive advantage through
green innovation.
,The article focuses on the concept of corporate sustainability, which refers to meeting the
needs of the present without compromising the ability of future generations to meet their
needs. It argues that senior executives play a key role in developing corporate sustainability
by emphasizing environmental and social responsibility while also benefiting the business
economically. The article notes that corporate sustainability can lead to advantages such as
increased recruitment and retention of top talent, reduced manufacturing costs, and
protection of company reputation. There is increasing evidence of the shift towards corporate
sustainability, with 70% of managers surveyed in a 2012 MIT study having integrated it into
their corporate agendas. The article highlights the role of senior managers in fostering green
innovations that contribute to both corporate sustainability and financial profitability. The
article explores three managerial roles (the Unlocker, the Connector, and the Transformer)
that are essential in solving the problems of green innovation and advancing corporate
sustainability.
Revolutionary innovation refers to a radical change or disruption in an industry or market,
whereas evolutionary innovation is a gradual improvement or adaptation of existing products,
services, or processes. Revolutionary innovation often involves creating new products,
services, or technologies that are significantly different from existing ones, while evolutionary
innovation focuses on making incremental improvements to existing products, services, or
processes.
Revolutionary innovation is often associated with high risk and high reward, as it involves
creating something completely new and untested. Evolutionary innovation, on the other
hand, is typically lower risk, as it involves making gradual changes to existing products,
services, or processes. The choice between revolutionary and evolutionary innovation often
depends on a company's goals, resources, and risk tolerance.
Examples of revolutionary innovations:
1. The Internet - The widespread adoption of the internet has completely changed the
way people communicate, access information, and do business.
2. Smartphones - The smartphone revolutionized personal computing and
communication, making it possible for people to access information and communicate
from anywhere, at any time.
3. Electric cars - Electric cars represent a revolutionary shift away from traditional
gasoline-powered vehicles, offering a cleaner and more sustainable mode of
transportation.
And here are some examples of evolutionary innovations:
1. Laptops - Laptops evolved from the personal computer, offering a more portable
option for computing.
2. Digital cameras - Digital cameras evolved from traditional film cameras, offering
greater convenience and flexibility.
3. Streaming services - Streaming services like Netflix and Amazon Prime evolved from
, traditional television viewing, allowing people to watch their favorite shows and
movies on-demand.
These are just a few examples, but there are many more innovations that could fit into either
category.
The rationality game
The "Rationality Game" is a term used to describe a common approach to corporate
sustainability among companies. It focuses on improving eco-efficiency, which involves
making improvements in products and processes to be more environmentally friendly and
cost-effective. This is often done in response to environmental legislation and competition,
but sometimes managers lack the urgency to make real changes, due to a belief that it may
harm the company's short-term profits. Some managers also believe that green initiatives
only cost money, ignoring the long-term benefits, leading to "greenwashing". Another issue is
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