Key opportunities

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Five key innovation areas provide the opportunity to catalyse sustainable growth for business by delivering productivity gains worth a potential £100 billion each year in the UK. [i]

By capturing these opportunities, across markets already worth almost £200 billion annually, businesses can increase competitiveness and address customer needs, while at the same time improving environmental performance, creating jobs and supporting social progress. [ii]

Fortune Favours the Brave, launched alongside this toolkit, details the opportunity for UK businesses to unlock the value from these new innovation opportunities.

The case for change

Source: Accenture 2013

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Shared value

Shared value: Focusing on the convergence of interests between business and society to build community prosperity, improve skills and health and create the conditions for commercial success. 

Business model examples: Expanding sales through a mobile workforce (e.g. the Avon example, generating employment while growing revenues.

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More with less

Driving productivity through resource efficiency: Reducing input resource use, improving the efficiency of industrial processes and minimising waste.

Business model examples: Gain-share models with payment based on savings delivered; financing and loans (e.g. household energy efficiency loans at competitive interest rates).

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Circular economy

Circular economy: Closing the loop on supply chains through product design, extending asset life, reuse and recycling.

Business model examples: Second-life sales (e.g. closed loop recycling programmes).

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New consumption models

Delivering ‘products as a service’ and enabling the sharing of goods via ‘collaborative consumption’.

Business model examples: Transaction fees (e.g. online collaborative marketplaces); ‘pay-as-you-go and leasing services (e.g. clothes or car rental).

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Transparency and engagement

Transparency and engagement: Embedding ethical and sustainable practices across the supply chain and sharing information on product origins with customers.

Business model examples: Revenue streams from sales of fully transparent goods and services (e.g. new, traceable product lines).

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