Sustainability is increasingly seen as a driver for innovation. Many innovations however fail or did not succeed yet. In a recent article (Wicki, 2015) there is an interesting insight of a failed green innovation and the lessons that can be drawn from this example for those who want to seize business opportunities in the green economy.
In my opinion the lessons are not only applicable for green innovations but also for other types of innovation when it comes to innovation within an existing company. If the (green) innovation is actually leading to a new product that is mainly applicable in new markets, perhaps the innovation should either be stopped early, sold or developed further within a different context than the company is used to. Especially when an innovation is in full diversification with the existing business (new product, new market), there is often the need for more space for development and more distance from the core business including a new business model and a more entrepreneurial management style.
Wicki, S. (2015). Diversification through green innovations. uwf UmweltWirtschaftsForum, 1-7.
StrategyBlogs (2015). Sustainability is driving innovation.