BPCL

WHY INNOVATION IS CRITICAL TO ACHIEVING THE SUSTAINABLE?

In this ever-increasing modern and technological world, it cannot escape anyone’s eye that the various industries are harnessing the natural resources and are generating waste products at an alarming rate. The resources present in nature are of both kinds i.e. exhaustible and non-exhaustible. When it comes to natural resources there isn’t any problem regarding their overuse, but when it comes to those that are exhaustible the need for sustainability arises. Also, sustainability in the business world is not synonymous with loss rather sustainability here means doing what’s right. Sustainable strategies in any business are profitable as the world today is progressing towards the usage of greener products. Innovation is our way of achieving sustainability as innovation is the door towards advancement. Innovation plays a vital role in exploring the underlying capabilities of resources available to us. Innovation in the field of sustainable development means that a drive of advancement towards economic development while keeping in mind the elimination of hazardous impacts of the processed goods on the ecological system and human health.

Innovation from the beginning of time has played a key role in the growth and advancement of humanity and when the resources have been estimated to not be lasting longer than a century its importance becomes vital in the development. This estimation by the various surveys conducted calls the need for technological transformation. So the entrepreneurial innovators are working to create solutions that will be following the present needs and will keep the need for government intervention and regulation away. Sustainability innovation also offers a frame for thinking about how entrepreneurial individuals and firms can contribute.

Innovations around sustainability reflect the thinking on next-generation economic development. Sustainability helps the growth of businesses along with keeping in mind the state of our surroundings. It is the wave of innovation that is pushing society toward clean technology, the green economy, and clean commerce. Various ideas are entertaining the thought of sustainability when it comes to innovation around it. But the center is always the thought of promoting a cleaner environment while paralleling the needs of future generations too. Hence, innovation is a dire need or critical to achieving sustainability.