In yesterday’s post, Business Sustainability: The Foundation for Intelligent Growth in 2011, we explored the relationship between business sustainability and business growth in a recovering economy. Creating the link between intelligent growth and applied sustainability concepts, we examined seven possible business sustainability opportunities to drive intelligent growth in the coming year. Continuing with this line of thought, we now explore the questions surrounding strategy application.
Discussed on
OPEN Forum, innovation-driven growth remains a top business sustainability strategy in 2011. However, a majority of business leaders are disappointed with the returns on their innovation efforts. Citing a potential cause as an over-focus on the commercialization of innovation, without evaluating their ‘sustainability’ approach at the front end, the article examines the engagement of resources earlier in the innovation process.
Typically focusing more on the internal exploration of a ‘backlog’ of ideas, many organizations fail to adequately resource the implementation of the chosen few. In contrast, the Forum advises that companies should own the innovation process end-to-end, from opportunity identification to commercialization.
• “Focus your efforts on not only unlocking the key customer insights that help generate ideas, but also on building a believable story for your employees, partners, suppliers, etc. about how you are seriously pursuing innovation excellence in your organization as your new way of doing business.”
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