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Innovation Management: Innovation to Sustainability Essay Example

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Innovation Management: Innovation to Sustainability

Innovation Management: Innovation to Sustainability. The company has a strong sense of responsibility starting from the time of its establishment in the 1890s. The social mission of the brand has always been a core part of their strategic direction. Remaining true to its core, the company launched the Unilever Sustainable Living Plan in 2010 that consists of a set of targets that have been designed to help the company in delivering their objective of growing their business while reducing their overall environmental impact. The corporate strategy of the company has always revolved around the theme that a business has a responsibility towards its consumers and the communities it operates in. Unilever wants to have a business that is sustainable in every aspect of its product lifecycle and in order to do that they work with their suppliers continuously and promote responsible agricultural methods.

The company also tries to learn from the examples of NGOs and other organizations to make the best of their situation and plan effectively for a sustainable future. Innovative procedures and promoting innovation has always been at the heart of the company. They have utilized technology and scientific research to enhance their brands, for example in the case of food brands, they have tried to improve the nutritional properties, taste, fragrance or functionality of the product. The company invests €1 billion annually on research and development and have set up laboratories around the world where scientists research on new approaches, beliefs, and techniques while continually enhancing current products while coming up with new ones (Unilever.com, n.d.). This section of the paper is dedicated towards the critical evaluation of innovation management at Unilever and it has been divided into 4 major parts. Unilever is a truly global company and it employs more than 250,000 people in 150 countries around the globe. One interesting aspect is that 2.5% of the annual turnover is spent on research and development as well as innovation to existing products. Consequently, the company also files more than 400 patent applications on a yearly basis. . Innovation Management: Innovation to Sustainability.

References

Collins, Glenn (1996). Unilever Agrees to Buy Helene Curtis. The New York Times, February 15, 1996. Retrieved on April 11, 2011 from <http://www.nytimes.com/1996/02/15/business/unilever-agrees-to-buy-helene-curtis.html>

Unilever.com. Our History. Retrieved on April 11, 2011 from <http://www.unilever.com/aboutus/ourhistory/?WT.GNAV=Our_history>

Unilever.com. Our Vision. Retrieved on April 11, 2011 from < http://www.unilever.com/aboutus/ourmission/?WT.GNAV=Our_vision>

Unilever.com. Introduction to Unilever. Retrieved on April 11, 2011 from < http://www.unilever.com/aboutus/introductiontounilever/?WT.GNAV=Introduction_to_Unilever>

Rao, Madanmohan (2005). Knowledge management tools and techniques: practitioners and experts evaluate KM solutions. Retrieved on April 14, 2011 from <http://books.google.com.pk/books?id=pRwl4JrQmYEC&pg=PA256&lpg=PA256&dq=how+unilever+manages+innovation&source=bl&ots=M7mBOihDO6&sig=tVECDi12oG9bi1Sh9TgF-suzKJY&hl=en&ei=xkujTe_5DIfIrQf--8DwAg&sa=X&oi=book_result&ct=result&resnum=10&ved=0CFIQ6AEwCQ#v=onepage&q&f=false>

Kahn, M. (2002). The global approach in innovation: Making it happen, Russell, J., Ed., London: Caspian Publishing Ltd., and IBM UK Ltd., pp. 27-31.

Frijling, L.H., & Mostert, N.M. (2000). Creativity Climate Questionnaire, Unilever Research: Vlaardingen, The Netherlands, ISBN 90 64 96 169 7.

Unilever Ventures Ltd., (n.d.). Why Unilever Ventures? Retrieved on April 14, 2011 from < http://www.unileverventures.com/Why-Unilever-Ventures-content-17/>

Turrell, Mark (2003). Idea Management ROI: Quantifying the returns for advanced idea management. Imaginatik Research, White Paper. Retrieved on April 14, 2011 from < http://www.scribd.com/doc/38047563/Imaginatik-WP-0603-1-Idea-Management-ROI>

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preview essay on Innovation Management: Innovation to Sustainability
  • Pages: 12 (3250 words)
  • Document Type: Research Paper
  • Subject: Management
  • Level: Masters
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