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Uniting Economic Success and Sustainable Impact with Innovation

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  • Anna Tollmien

    (Green & Social Growth Project)

Abstract

How can organizations create sustainable impact and at the same time be economically successful? Some organizations believe that this is a contradiction, but it often goes hand in hand. The chapter summarizes some practical suggestions and approaches how to unite both. The seemingly contradictory objectives can be combined through innovation and business model transformation. To achieve this, it is necessary to integrate sustainable impact into both the innovation process and the cultural development of the organization. For example, it is possible to develop innovation projects that are aimed at both economic success and sustainable impact. Therefore, the organization must define right in the beginning of the innovation process which social or environmental impact it wants to create. Later in the process, it will become more clear how to contribute to economic, social, and ecological sustainability at the same time. This is relevant for the organizational culture as well. Organizations which do not only contribute to their own financial success, but also care for the social and ecological good, develop on another cultural level. This level integrates a holistic view on economic, social, and ecological sustainability – both in the organizations and the people that work for it.

Suggested Citation

  • Anna Tollmien, 2025. "Uniting Economic Success and Sustainable Impact with Innovation," Management for Professionals,, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-031-77979-4_11
    DOI: 10.1007/978-3-031-77979-4_11
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