7.2 Sustainability Initiatives A large-scale survey conducted by Kiron et al. (2017) revealed that most managers consider corporate sustainability vital to their business operations. Despite this recognition, many sustainability-focused innovations and strategies fail to realise their full potential, or in some cases, fall short entirely (Geissdoerfer et al., 2018). This suggests that merely intending to drive sustainable change is insufficient. Instead, effective sustainability initiatives must be innovation-driven, intentional, and carefully planned. Draper (2013) introduced a model that outlines a set of actions aimed at shifting systems, whether it be an industry, a city, a sector, or an economy, onto a more sustainable trajectory (see Figure 7.2). Draper’s methodology is based on achieving a preferable future through investment in system innovation. Unlike incremental innovation within individual companies, system innovation involves rethinking how an entire system mobilises and deploys resources. This can include redesigning supply chains, restructuring business models, or developing entirely new industries that align with sustainability goals. Figure 7.2: Six steps to significant change (Source: Draper (2013), modified by the author) When the focus of the system is not recognised, individual efforts fall short as is seen in the Draghi Report: The Future of European Competitiveness. Draghi (2024) notes that Europe does not lack ideas or ambition but often fails at translating innovation into commercialisation. While Europe has many talented researchers and entrepreneurs filing patents, innovation is blocked in subsequent stages. Companies that aim to scale are hindered at every step by inconsistent and restrictive regulations. 7.3. Sustainable Business Modelling 42 Figure 7.2: Six steps to significant change (Source: Draper (2013), modified by the author) When the focus of the system is not recognised, individual efforts fall short as is seen in the Draghi Report: The Future of European Competitiveness. Draghi (2024) notes that Europe does not lack ideas or ambition but often fails at translating innovation into commercialisation. While Europe has many talented researchers and entrepreneurs filing patents, innovation is blocked in subsequent stages. Companies that aim to scale are hindered at every step by inconsistent and restrictive regulations. 7.3 Sustainable Business Modelling Business models play a critical role in addressing the synergetic relationship between innovation, entrepreneurial behaviour, and sustainabil38 7.2 Sustainability Initiatives
RkJQdWJsaXNoZXIy ODY1MjQ=