Create and capture growth opportunities in ecosystems
Corporate coherence should be a priority among top management teams to ensure the success of their organizations in today’s ever-changing environment. This concept refers to an integrated logic and basis for action that helps business units to support and complement each other in an integrated manner.
Several factors are driving the need for corporate coherence, including the increasing focus on core competencies, global interdependence, environmental shifts, multipoint competition, and organizational changes. To achieve this, the top management team should share information, resources and decisions.
Organizational innovation. An organizational innovation is the implementation of a new organizational method in the firm’s business practices, workplace organization or external relations. Organizational innovation is type of low consumer impact innovation.
Social innovation. Social innovations – type of medium consumer impact innovations – are new social practices that aim to meet social needs in a better way than the existing solutions, resulting from – for example – working conditions, education, community development or health.
Eco innovation. Eco-innovation is any high consumer impact innovation resulting in significant progress towards the goal of sustainable development, by reducing the impacts of our production modes on the environment, enhancing nature’s resilience to environmental pressures, or achieving a more efficient and responsible use of natural resources.