Innovative sustainable practices: are they commercially viable?
Siham El-Kafafi, Manukau Institute of Technology, Auckland, New Zealand
Stephen Liddle, Southern Cross University, Australia
Abstract: It is argued that as the planets conventional natural resources are consumed, it has a profound effect on society and the environment. In order to maintain current levels of lifestyle, help solve some of the developing nation’s problems and ultimately survive, the world will look more to technology and science for the answers and this will call for partnerships that deliver new approaches and science-based innovations (Teresko, 2006). This research is a part of a bigger study investigating the determinants of innovation in the New Zealand biotechnology sector. This paper discusses business innovation in general and how it could contribute to sustainable development across several key areas like agriculture, biotechnology, consumer products, energy and life sciences. To provide a link between business innovation and sustainability, the research paper explores trends across the following concepts: social expectations of innovation in the biotechnology field, innovations versus sustainability, sustainable agricultural biotechnology, and sustainable industry practices in the biotechnology field. Finally the paper provides some tentative ideas of the conditions required for business innovation to make a constructive contribution to sustainability.
Keywords: business innovation, agricultural biotechnology, and sustainable development.