Businesses need to act beyond the interests of shareholders, and on behalf of all stakeholders - equally. Technology advancements and societal shifts are playing a major role — AI’s impact coupled with ESG reporting are driving efforts to consider all stakeholders equally.
Principal Consultant
↳When all stakeholders are of equal value
↳The touchpoints of responsible innovation in business design
↳How might we innovate responsibly?
↳A central point to generate a flywheel for a better future
By working at the start of the innovation lifecycle and using frameworks that encompass responsible research and innovation, you can create and sustain businesses and products that can generate a better future forward.
When all stakeholders are of equal value
Responsible Research and Innovation as a discipline has roots in academia and application amongst scientists, engineers and entrepreneurs over the last decade. Commercially, Responsible Innovation has been maturing and is being applied across more and more industries — from Healthcare to IoT.
Looking at past years’ shifts, companies (as well as our global society) have been expanding towards spaces where they place more value, and adapting their innovation drivers accordingly. This is more than a trend answering to conscious creation, consumption, and equality — innovating responsibly has become a central point of good business design.
The touchpoints of responsible innovation in business design
Responsible Innovation processes have touchpoints in all stages of the innovation journey, but responsibility as a factor should be considered before the innovation journey even begins.
Holistically integrating Responsible Innovation concepts into existing innovation and business design frameworks evolves our abilities as business designers and organizations to move quickly and responsibly.
How might we innovate responsibly?
In the next couple of months, we’ll be refining and open sourcing our frameworks for Responsible Innovation in business design. We’ll be speaking with industry leaders, evaluating applications, sharing our learnings, reflecting and iterating as we go.
It is up to corporations and their partners to make responsibility the cornerstone of tomorrow’s innovations, and to change the way we do business design for good – a notion that applies to all industries alike.
Redefining success
Instead of waiting for market launches to see final results and gauge impact, iterative questions along the design process is what will lead to new findings. These will be elements taken into account when responsibly creating new products and businesses. And, as we evaluate more short and long term value drivers, we will be de-risking solutions while improving the outcomes before the solutions are even created. One of the most important questions to begin with is to ask what success looks like, and how it’s being measured, regarding the expected and unexpected impact that innovations hitting the market will have on people.
However, responsible innovation is more than in-depth questioning about impact. It is, above all, businesses learning to be ready to pivot or kill their ideas based on the discoveries found along the way.
A central point to generate a flywheel for a better future forward
Responsible innovation gives business makers the ability to be reflective, innovators the space to evaluate ideas, and organizations ability to look past the reach of initial expectations and intentions.
We consider responsible innovation more than a moral standing, but a requirement for all businesses: to add responsibility as the center that drives validation of new products and services to be launched into the world.
As a fundamental (missing) piece of most innovation and business design processes today, laying responsible innovation as a framework across the innovation cycle will change how we develop and measure innovation and good business.
What's next?
Board of Innovation is here to make what life needs next. We help businesses identify and responsibly innovate and launch something new into the world. By working at the start of the innovation lifecycle, working with the organization where they are at and using frameworks that encompass responsible research and innovation, we help create and sustain businesses and products that can generate a better future forward.
Curious to learn more?
Learn more about how we work with our global partners to innovate responsibly.
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