Innovation is the creative, technological, and socially beneficial implementation of new ideas or improvements in providing products or service. The key is to first identify an existing product, service, or idea and analyze the barriers to entry for commercialization. Inventors, business mentors, and industry consultants to help with this analysis and identify the scope of innovation. There are two important questions to answer here: When will people benefit from this innovation? And what must be done to make it happen?
Innovation is often associated with the idea of creative destruction, where the inventor or creator deliberately destroys something else in order to produce a new product, service, or idea. Often, eco-innovation attempts to do this with respect to waste or pollution. A company that creates an eco-innovation product may use techniques such as reuse, recycling, or even fair trade practices to foster more eco-friendly or energy efficient practices.
While many companies may be content to simply launch a marketing innovation campaign without considering the broader economic impact, those without the vision will fail in their attempt to create sustainable eco-innovation. The original idea behind eco-innovation was to develop better consumer and business practices. In many cases, the company wants to improve their overall performance. With a focus on environmental and social responsibility marketing innovation can be first steps toward building that overall winning streak. Companies need to consider the entire life cycle impact of their actions when attempting to define and document their actions for the benefit of the planet.
Another approach that first companies may take when attempting to Innovate is to leverage their existing marketing strengths. Some companies are able to effectively use their brand and marketing position to create new ideas and technologies. However, for many newer start-ups, it may not be feasible to compete with well-established competitors or larger corporations that already have existing technologies in place. Instead, the company may want to try developing eco-innovation solutions from the ground up. This would allow for greater risk, but the potential rewards may be great if the company can succeed.
When companies begin to try and Innovate they should first consider their current budget and resources. While this may not always provide a complete answer, the company can determine exactly what type of funding they would be comfortable pursuing. If a company has no funding available for marketing innovations they may want to look to other forms of media. While traditional advertising may not be a sure way to Innovate, there are a number of innovative television shows that have had great success due to their focus on environmental issues.
As more companies become aware of the impact that their actions have on the environment, they will take bolder steps to stay within the realm of eco-innovation. Even small changes like using recycled materials in their products may help them save money and protect the planet. These types of actions will help the company to remain a visionary on sustainability issues for years to come. The best way to stay focused on eco-innovation is to hire a company that can manage it for you. A company such as Global Green Solutions that specializes in green building and Eco-innovation allows you to focus on your business without being restricted by technological issues that may inhibit your ability to Innovate. A dedicated team will work to create the most sustainable and innovative solution for your company while incorporating the latest Eco-innovation techniques.