Sustainable Innovation Continues to Make Major Headlines ...

CNN Money recently published an article, 4 Keys to Growth through Transformational Innovation, which discusses an aligned perspective on sustainable business development. ?Seeking to overcome today?s business challenges, and in some cases derailleurs, the author points to ?break-through? innovation as a key business sustainability differentiator.

?With growth slowing even in emerging markets, companies realize they need to innovate, now more than ever, to maintain and accelerate growth. ?They cannot rely solely on market momentum to achieve their growth ambitions. ?Most companies, however, fall into a trap of investing in ?incremental? innovation.?

As the article goes on to explain, the key is to enhance the innovation process to ensure the quality of the ideas generated remain at a ?transformative? level. ?Some of the best practices listed include:

• A targeted inquiry system that clearly defines the problem to ensure that participant feedback fits within the opportunity space.
• Idea submission guidelines that push creators to self-test and secure support for their ideas at submission, to ensure only those ideas that have a realistic chance of survival are shared.
• An ongoing, time-saving feedback mechanism that allows for rapid and interim changes to the idea, based on perspectives from employees and partners.
• Idea prioritization filters that combine internal feedback with strategic considerations such as brand promise, alignment to strategy, etc.

Our professional consulting experiences have revealed to us that the business world too often approaches sustainable development with traditional structured implementation processes. ?In contrast, we believe that those destined to excel are those who step outside the traditional business structures to add?and spontaneity to their long-term business sustainability plans. ?For this reason, our sustainability consulting encourages clients to tap into the knowledge and experiences of their key business stakeholder in an open innovation culture.

Source: http://blog.taigacompany.com/blog/sustainability-business-life-environment/sustainable-innovation-continues-to-make-major-headlines

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