Henry Ford once said, “If I had asked people what they wanted, they would have said faster horses”.
Disruptive Innovations have been with us from centuries and have transformed society in years. From the horse driven carts to steam engines to computers and smartphones, are few disruptive examples which helped in evolving mankind drastically. They improve our lives in all sorts of ways, but the impacts can be profound, often in ways that are quite unexpected.
Disruptive innovation is in vogue, for all the good reasons. Businesses need to stay ahead in environment protection for continual evolution and sustainability.
People have started realizing that there is a need to act on climate change, before it’s too late. It is the greatest potential cause of disruption faced by new and established businesses alike,
and is also the greatest catalyst for innovation for those willing to harness it.
More companies are finding innovative ways not only to rapidly cut their own emissions footprints, but to harness the emerging tools of decarbonization to find new ways of unlocking value. And it’s proving a big market opportunity.
Sustainability is the driving force:
Use of solar heaters is the most commonly seen example of how sustainability is now the driving force for Disruptive Innovations. Vehicles, printing and batteries are few of the upcoming areas of interest.
Sustainability is one of the main drivers for disruption today because the world needs to deal with environmental and social issues such as resource scarcity, air and water pollution, climate change, a growing and aging population and the demands of an increasingly affluent middle class.
Change in Mindset:
Over the period of time, the human race has only learned to take from nature and never worked on giving it back. It is very difficult to change this mindset. And clearly we don’t have as many years as it took for evolution, we can’t wait for years and years to make this happen. Also the capitalist mindset and greed of the human race will not let humans evolve selflessly.
There is a need to change the philosophy where people start looking “waste as a resource at the wrong place”. Recycle, Reuse and Restore is the mantra for sustainable living.
Changing Linear Economy to Circular Economy:
Leasing and renting is the new trend. There is a sudden change in the trend of “take, make and waste” to “rent, use and return”.
A lot of sustainable circular production models are coming into picture, where the manufacturer takes back the product after the end of the product’s life for remanufacturing or remodeling.
Build Bridges, not Barriers:
There is clearly no alternative to sustainable development. Where few companies believe that a sustainable market is niche and will erode competitiveness, there is still a section of people who believe it will add to costs and will not deliver immediate financial benefits.
They believe making operations sustainable and developing “green” products places a disadvantage because of various reasons:
- Rivals in developing countries don’t have to face the same pressures.
- Suppliers can’t provide green inputs or transparency
- Sustainable manufacturing will demand new equipment and processes
- Customers will not pay more for eco-friendly products during a recession posed by the ongoing pandemic.
That’s why most executives treat the need to become sustainable as a corporate social responsibility, divorced from business objectives. Administration should address their concerns and come up with policies and reforms to bridge the gaps.
As consumers, we should take into consideration that sustainably produced finished products and services should be the choice over others, helping such businesses grow more.
Companies wishing to harness the disruptive power of sustainability are already selling products that help consumers to become more sustainable. Due diligence of consumers can change the way market businesses in upcoming years.
Earthr invites great minds to share their disruptive, innovative ideas of sustainable living, which might change the way we see the world today.