Most businesses have focused their sustainability work on reducing their environmental impact and lowering their resource costs. These bottom-line initiatives, many of them highly innovative, are critical to staying viable and competitive while benefiting society and the environment. They’ll grow profits, for a while anyway. But, they are not a path to continued growth or advantage. The re-engineering, quality and IT movements showed that improved efficiency doesn’t drive long-term value creation.
To consistently grow the bottom-line, sustainability innovation needs to drive the top-line. Innovation that successfully builds new products, services, businesses and customers drives advantage and value. One only need look at the success that Toyota had with the Prius and the huge bet GM is making on the Volt to see the opportunity that environmental innovation at the top-line offers to companies. Similarly, companies like Unilever are pursuing top-line growth from socially responsible innovations like making more nutritious food products.
To read the full, original article click on this link: 5 Ways to Grow Revenue with Green Innovation | Business | GreenBiz.com
Author: Steve Goldstein
