Innovation is quite essential for organizations that compete in rapidly changing markets being under pressure of for instance shifting customer demands and global challenges. But a strong culture of innovation is not an easy feat. Data research on innovation in the chemical industry reveals that 49 percent of chemical organizations recognize that establishing an innovation culture is a challenge for their organization. The underlying reasons for the struggle of chemical companies are related to the number of projects and long decision paths before an innovation is actually implemented. So how can organizations overcome this hurdle?
As a result of the partnership between INSEAD and Unilever, INSEAD Singapore organizes from 2 to 6 November the 'Leading the Business of Sustainability' programme. The 5-day course will show you how to make the case for change in your company’s sustainability approach, demonstrating best practices for engaging with stakeholders, changing mindsets, and how sustainability becomes a profitable part of your organization.
With an estimated value of €51 billion and an annual production volume of 380 million hectoliters in Europe alone, creating value for business and simultaneously creating a more sustainable path to economic growth, prosperity, and people’s well-being is key in the global beer industry. Today, the industry faces challenges as population growth, changing consumer preferences, climate change, and demographic shifts. Therefore, the integration of the Sustainable Development Goals into companies’ core business is fundamental for future success.
Circular economy business models require organizations to reinvent their current business and to start exploring new activities. Upon successful execution, they can enter new markets, gain market share and create a competitive advantage over their competitors. Ultimately, this will result in an increase in revenue.
Founders Sara Wolf and Milena Glimbovski of Original Unverpackt (OU) say there is a rising demand for products and services that deal with sustainability and that people demand alternatives to the “abundant” handling of resources. When the two started in 2014, their zero waste supermarket was financed with €100.000,- crowdfunding money that enabled them to open their first store in Berlin. Celebrating their first year in business, they look back at serving 120 customers on a daily basis and managing to save significantly on packaging with the product groups milk, tomatoes and quinoa as frontrunners.
Changing from decades of linear thinking into circular is hard; where to begin and how to follow through. Fortunately some bright circular economy business models have already emerged from existing know-how. What to think of a beer brewer that adds yeast to his wastewater to ensure a better fermentation thereby producing more biogas and cleaner residual water. Or a wine maker that is looking for ways to make good use of his vine cuttings by experimenting with solutions such as “biochar”; producing charcoal in the orchard and adding it to the soil to make it more productive.
Sekisui Chemical Company, the Japanese manufacturer of high quality polyolefin foams is very active in the field of sustainability. In 2007, when Sekisui celebrated its 60-year anniversary, it organized the first Global Children’s Eco Summit in Japan with children from all over the world, followed by regional events in Europe, North-America and Asia.The big idea behind the involvement of this specific stakeholder group is that they are very well equipped to be change agents for a sustainable future.
The Japanese Sekisui Chemical Group is one of the leading global chemical companies developing the frontiers of Creation of Housing & Social Infrastructure and Chemical Solutions.
Circular economy is seen as a demanding change. Due to natural resource constraints, corporations are more inclined to move from a traditional, linear approach towards a circular one. But, as with all business transformation processes, not design or theory but execution is the hardest part. How can one move from an existing linear business model to a more circular one?