Makes the point that companies need a long-term and open approach to thinking about sustainability and innovation that will require companies to adopt a more collaborative perspective and a more open approach to innovation. The increasing adoption of open innovation is important in getting sustainability innovations out of market niches to allow them to spread across a whole industry sector.
This post explores the explosion of social media as a new platform for communication, stakeholder engagement and transparency. It examines how it is a double edged sword for corporations. On the one hand it has to some extent taken the ability to shape the message out of corporate control as the viral nature of the media can quickly spread and corporations can find themselves in a sudden maelstrom as events get out of their control. Social media has also made corporate actions face increasing scrutiny. However social media also presents a big opportunity, enabling small suppliers and traders to promote greater equity in the supply chain for example. It goes on to suggest how the corporations notion of what accountability entails needs to evolve in order to be able to take advantage of the new environment imposed by the rise of social media.
