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Sustainable Innovation a Key to Future Markets

posted 14 Apr 2013, 16:51 by Manish Abraham   [ updated 23 May 2013, 14:05 ]

    Innovation is the elixir of growth in a competitive globally growing business and technology environment. It is a skill that everyone has, but they think they do not.  

    If you have ever marveled at any person’s creative prowess, guess what, you will be able to create and innovate too. It just takes time. Everyone is born creative. The box of crayons in kindergarten were not restricted to those who possessed potential; because the truth is everyone has potential.

    The challenges that confront businesses today go much beyond that posed by competitive markets and dynamic consumer preferences. We live in a world threatened by challenges that arise from poverty to widespread environmental degradation; rapid environmental degradation aggravates the threat of global warming. Such unsustainable environments make societies unstable, and can severely impact the future progress of business, growth and the economy. Innovation that is inspired by a vision to sub-serve larger societal needs is one of the most meaningful contributions that businesses can make and also the most fulfilling. 

 Future of the world is in our Hands and the decisions we take today affect the future.

Sustainable innovation a key to future markets

    It is essential that we enable our young generation to see themselves as participants in one of the most creative episodes in management history. It is my deep conviction that competitiveness as well as profitability will increasingly depend on a company's ability to adopt sustainable business practices. Growing civil society awareness and tougher regulations will indeed drive this change, Innovation and product mangers will be playing a major role in how the Innovations will be implemented. 

   The innovation challenge will be to craft business strategies that not only deliver unique customer value propositions but also enable a twin impact—of ensuring a positive environmental footprint and create sustainable livelihoods for our future generations. Civil society including students, customers, investors, and media, need to be made more aware of the tremendous change they can bring about by encouraging Sustainable Innovation. 

    It will also make sustainability a value proposition that companies will embed in their offerings to civil society. That will indeed go a long way in creating a sustainable economy for future generations and a secure planet that will continue to nurture and nourish the billions of its inhabitants. I do hope that future innovation will awaken the world to such a promising tomorrow. 

    You know how long it took to learn to ride a bike or drive  to never commit the same mistake again? It is the same with innovation and sustainability. It takes a bit of practice and a lot of time before this mind function comes easily when called, if we avoid it we can never progress.