Sustainable Innovation

Question 1

Definition of Sustainable development

Answer 1

Sustainable development aims to meet the needs of today without compromising the ability of future generations to meet their own needs

Question 2

What are the 3 pillars of sustainability

Answer 2

• Socials (people)
• Environmental (planet)
• Economic (profit)

Question 3

what is innovation

Answer 3

Innovation is the successful exploitation and commercialisation of new ideas

Question 4

what 3 stages of innovation must work for an idea to turn into a successful product

Answer 4

you need a good level of management over

1) the theoretical conception
2) The technology development
3) commercial exploitation (bringing it to market)

Question 5

What is sustainable innovation?

Answer 5

The creation of new market space, products and services or processes driven by social, environmental or sustainable issues.

Question 6

What factors drive sustainable innovation

Answer 6

1 - Environmental and resource issues, eg scarcity, climate change, pollution
2 - New legislation and policies regarding and sustainable consumption and production, eg packaging, CO2 emission taxes
3 - competition and market demand
4 - Social and Ethical changes, eg Fairtrade