Innovation is no longer solely based on market need but rather must also consider environmental and social impact. This is what we call sustainability-oriented innovation (SOI). Traditional trade-off models in business and government tend to actually restrict innovation. SOI disrupts the traditional trade-off model and brings together what seem to be competing goals. Successful business models all demonstrate that you can have both strong financial performance and social impact.
With up-to-date insights of the market and sustainable development, new areas of opportunity for innovation will become apparent. Benefits include:
- Alignment with Sustainable Development Goals
- Increased Revenues
- Supply Chain Risk Reduction
- Increased Brand & Market Relevance
- New Areas/Topics for Innovation
- Enhanced Value Chain
- Talent Retention
We help you with business model innovation, product innovation, and process innovation. Innovation is the development and deployment of an idea that generates value for the world. Value, of course, is very context dependent, so too are any ideas that are generated. Thus, we must first understand the most relevant issues for the people and organizations we seek to add value to.
Here, we work to learn about the intended consumers and the stakeholders involved to identify not just the known issues but also the root issues and processes. This area is very focused around a variety of secondary sources and your organization. We then use this information to define the problem, challenges, and areas of opportunity.
- Observation & Synthesis:
Next, we conduct primary research and develop first-hand data. We then analyze this data merged with what we learned from the previous phase to identify new patterns of behavior or demand. This phase integrates co-creation techniques to gain a deeper understanding of needs. With the first hand research and the secondary sources, we develop insights that guide concept development.
Based on the insights from the previous phase, we develop concepts that address the underlying issues. From here, we identify a select few for implementation.
During this phase, we develop relevant measures to test the concept against the identified needs. Prototypes are then refined to improve the chance of success upon launch.
Time to Work!
By addressing not only market need but also social and environmental impact, you will find new opportunities for innovation and increase value for your company, the environment, and society as a whole. Let us help you through this process.