Are Innovation and Sustainability related?

April 9, 2021

Nowadays, sustainability is being one of the things most talked about, specially with the covid pandemic outbreak and the urgent need of huge changes in the world for our survival as humanity! However, huge changes are only possible with the contribution of every person, industry, or business. That is why is so important to talk about sustainability and innovation, because it is necessary a collaborative effort to create significant environmental changes and combat the effects of climate change!

So, are innovation and sustainability related? Of course. In the health sector this is something that is constantly being rethinking, specially with the arising issue of single-use medical devices. However, most businesses see sustainability only as a way of following restrict regulations, which is limiting its potential to generate better businesses. Sustainability can generate innovation and increase productivity, leading to more efficient ways of managing the company’s resources.

There are a lot of advantages to a company that is trying to be more sustainable oriented. First, keeping pace with regulation allows the company to be more proactive when it comes to environmental issues, which leads, not only to a better image, but also to costs reduction and creation of new businesses. Second, a lot of consumers prefer more eco-friendly offers, which can put the company in a more competitive place that will make them dominate the market in the future. Last, sustainability makes the company exploring alternatives to doing their business, which can lead to new products and more innovative solutions.

In fact, sustainability and innovation should be seen together and not as separate things. Being sustainable can really put your business in a more competitive place and make room for innovation to happen!

Around 90% of medical devices have single-use products, which represents a lot of waste. However, it is not that simple to reduce the volume of disposable components because it is necessary to maintain the safety standards of the device. Even though, small enterprises in the healthcare sector can play a huge rule on how we can be sustainable and innovative in a long-term vision!

 

 

 

 

Source:

https://hbr.org/2009/09/why-sustainability-is-now-the-key-driver-of-innovation


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