Sustainability is the capacity to endure through renewal, maintenance, and sustenance (or nourishment), which is different than durability (the capacity to endure through resistance to change). Innovation is the creation of new value through the use of solutions that meet new, previously unknown, or existing needs in new ways. Innovation should be pursued with sustainability in mind as a critical strategic objective, as the integration of new business ideas with the broader community and environment is central to long-term success.
Sustainability Entrepreneurship
"Sustainopreneurship" describes using creative business organizing to solve problems related to sustainability to create social and environmental sustainability as a strategic objective and purpose, while at the same time respecting the boundaries set in order to maintain the life support systems of the process. In other words, it is "business with a cause," where the world's problems are turned into business opportunities for deploying sustainability innovations. Sustainopreneurship is entrepreneurship and innovation for sustainability.
This definition is highlighted by three distinguishing dimensions. The first is oriented towards "why" - a company's purpose and motive in adopting sustainable entrepreneurship. The second and third reflect two dimensions of "how" the process is carried out.
- Entrepreneurship consciously sets out to find or create innovations to solve sustainability-related problems.
- Entrepreneurship moves solutions to market through creative organizing.
- Entrepreneurship adds sustainability value while respecting life support systems.
Solving sustainability-related problems from the organizational frame is the be-all and end-all of sustainability entrepreneurship. This means that all three dimensions are simultaneously present in the process.
An example to provide context: Interface Global produces modular carpeting. Sustainability is the core operating mission and vision of the broader organization. Through greening their supply chain, minimizing water use, cutting electric costs, reducing fuel costs through better distribution, and a number of other innovative process improvements, Interface Global produces high quality carpets at a lower cost and smaller environmental footprint. The company created a sustainable business strategy through innovative thinking.