MGMT6085: Sustainability Innovation: Home

This new MST course rests on the assumption that there is a powerful synergy between sustainability and innovation in business and society. The term ‘sustainable innovation’ refers to the creation of new market space, products and services or processes driven by social, environmental or sustainability concerns. Just like general innovation, sustainable innovation goes way beyond incremental improvements of products, services, or processes. The challenge is to proactively embrace risk management and sustainability considerations (environmental, social, financial) aimed at aligning (novel) business strategies with the Sustainable Development Goals to create and capture new value. If governed well by results-oriented, socially aware sustainability leaders embedded in a ‘good’ governance structure, sustainable innovation governance results not only in greater effectiveness at (intra)organisational levels but also helps to create a cleaner, healthier, fairer (and hopefully more stable) world as envisaged by the circular economy. The urgent need for enhanced sustainability innovation governance has never been greater as evidenced by rapid population growth, pollution, (toxic) waste, plastic accumulating in our oceans, limited natural resources, climate change etc. This course will introduce students to the dos and don’ts of integrating sustainability into business practice based on effective policies, processes and frameworks, board governance, senior management strategy, and stakeholder management. Several case studies of for-profit and nonprofit organisations such as City Development Limited (CDL), DBS, SIA, Eco Ark, and others will be featured to appreciate what it takes to make sustainable innovation governance work.

By the end of this course, students will be able to:

• Define the term ‘sustainable innovation’ and explain why it matters and what makes it tick in an era of climate change.
• Know how to create an ‘innovation engine’ for a sustainable organisation based on a robust innovation strategy, an effective overall innovation management framework and a strong culture of sustainable innovation from the perspectives of both internal (e.g., employees) and external stakeholders (e.g., customers).
• Explain the importance of proactively embracing sustainability considerations (environmental, social, financial) aimed at aligning (novel) business strategies with the Sustainable Development Goals (SDGs) to create and capture new value.
• Integrate sustainability into the core of a business in ways that transform the company vis-à-vis societal cum global challenges such as climate change, pollution, water scarcity etc.
• Analyse the role of Chief Sustainability Officer vis-à-vis the roles of the CEO, CFO, Chief Innovation Officer, CIO etc. as well as bords and know how ‘good’ CSOs and their Boards make organisations more sustainable in the long run by protecting communities, restoring, and conserving ecosystems, and creating competitive profit.