Today all companies are being called upon to make a radical transformation toward sustainability, which thus becomes a real strategic lever of innovation.
There is a lot at stake, indeed a great deal at stake: the ability of companies to stay in the market and stand out within an increasingly fierce competition.
Large FMCG multinationals are already doing just that. The Ferrero Group, for example, has launched several advertising campaigns to communicate its commitment to reusable, recyclable or compostable packaging. A commitment that, inevitably, has had an impact on the entire supply chain and packaging suppliers. Automotive companies are already doing this: just think of the impact that the transformation to electric cars has had on the various players in the automotive industry. Think also of the trends in new materials and bioplastics, which so many companies have initiated in order to be able to offer a greener product to their customers, benefiting significantly.
On the combination of Innovation and Sustainability then work the banks. Increasingly rigorous practices that value sustainable investments and support companies that can prove themselves as such: these are the new criteria that influence the cost of money.
So why talk about Innovation and Sustainability today?
Because staying out of the loop of virtuous companies in sustainability will certainly mean a reduced ability to access credit in the future. And in this context, companies that fail to derive a significant competitive advantage from their ability to adapt to the new paradigms of innovation and sustainability are at real risk of finding themselves on the fringes of the market, outpaced by their competitors in terms of process innovation or speed of adaptation.
What then is the concept of sustainability?
Today the concept is mainly associated with the acronym ESG – Environmental, Social, Governance, which summarizes the areas within which sustainability can be declined.
But it is also crucial to say that sustainability can be interpreted by every entrepreneur and every company as the deepest sense of “being in the world.” In the declinations of meaning that each reality will want to give, many insights can be found in sustainability to define the strategic vision and mission that the company pursues.
Is it then just a set of rules or rather a strategic guide?
The strategic importance of Sustainability prevails. It concerns the relationship with the company’s main stakeholders, including in this definition the relationship with the environment. It is about grasping the call for a sense of responsibility that current sensibilities move toward every company.
What is the relationship between innovation and sustainability?
It is undoubtedly a deep and increasingly relevant relationship: while innovation can fuel the engine of sustainable progress aimed at overcoming environmental, social and economic challenges, it is sustainability itself that can in turn direct innovation toward goals that support the long-term well-being of the planet and its communities.
The combination of Innovation and Sustainability can thus trigger a virtuous circle that drives the company to be more competitive in domestic and international markets.
How are Innovation and Sustainability interconnected? Here we list 5:
Technological innovation can lead to the development of more efficient and environmentally friendly solutions. For example, renewable energy, information and communication technologies (ICT) for smart resource management, and cleaner production processes are all outcomes of innovation that contribute to sustainability.
Innovation can promote the adoption of circular economy models, in which products are designed to be reused, repaired and recycled. This counteracts the traditional linear “take, produce, throw away” model and reduces environmental impact.
Education and awareness raising
Innovation in educational methods and awareness campaigns can promote greater awareness of sustainability and encourage responsible behavior.
Financial innovation can support investments targeting sustainable projects. For example, innovation in green financing and sustainable financial products helps finance projects with low environmental impact.
Addressing sustainability challenges often requires cross-sector collaboration. Innovation in collaboration practices can facilitate the creation of effective partnerships among businesses, governments, and nongovernmental organizations to address complex problems.
What does Roncucci&Partners propose to support its clients in this game?
Often the key to a new competitive advantage lies in the assessment of technological trends. But it is also true that not all companies, especially if we are talking about SMEs, can afford an adequate in-house research and development team.
In these situations, our technology trend assessment service helps companies, which do not have a research and development department, to develop an appropriate global overview of scientific research to identify the most interesting technology trends and convert them, in time and in an accomplished way, into successful products.
In Roncucci&Partners we have developed a vertical Innovation and Sustainability service, making use of the collaboration of authoritative partners in the scientific world, to help companies in this delicate phase of strong change that we have called epochal. This involves evaluating the materials used and comparing them with recent innovations in the field, patents and scientific publications from the main research centers active in the field.
We are convinced that the urgency of a radical change in world production, dictated by the environmental upheavals we are witnessing, will lead to radical and widespread innovation, and those who intend to be in the market must be vigilant and proactive about the innovative trends that research is bringing to the market.
At Roncucci&Partners we help companies develop themselves and their business, embrace change and evolve to thrive in a world that is increasingly complicated, insidious and requires great expertise. We do this by applying punctual methods and rigorous strategies, the result of many years of experience and the richness of the numerous success stories we have conducted all over the world. Passion and method are indeed our guides to enhance the present and build the future.