Developing Sustainable Organizations through Innovation and Societal Considerations

The goal of most organizations is to survive. Recent years have seen the demise of many once thriving organizations. The reasons for their demise are varied, but most can be attributed to the changing competitive landscape. Many organizations recognize that in order to endure, they must adapt to their environments and continue to innovate. The innovations may be in products/services, processes, marketing methods or organizational structure. However, innovation may have negative as well as positive consequences. Innovation alone may not be sufficient. There are societal considerations that also contribute to the continued survival of the organization. The impact of innovation on organization, its stakeholders and society as whole should also be considered. The development of a Social Sustainability Portfolio may aid firms in their organizational sustainability efforts.