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With Cross-Industry Innovation to a Circular Economy

Authors:
Andrea Lutsch

Keywords: Cross-Industry Innovation; Cross-Sector Innovation; Circular Economy; Open Innovation; Sustainable Business; Sustainable Innovation; Sustainability

Abstract:
The cross-industry innovation approach can help companies diversify their existing core competencies into new sectors or industries with as little risk as possible. In five systematic phases, the management level is enabled to identify potentials for cross-industry innovations from existing innovative problem solutions or core competencies of the company. With this approach, existing core competencies of the company can be used sustainably and in the long term, thus contributing to a circular economy. Instead of constantly building up new skills and resources, the already established resources are used sustainably and, if necessary, adapted to raise cross-industry innovation potential. The cross-industry innovation approach helps companies to transform their existing business model and form a sustainable business model.

Pages: 13 to 16

Copyright: Copyright (c) IARIA, 2021

Publication date: April 18, 2021

Published in: conference

ISSN: 2308-4146

ISBN: 978-1-61208-848-8

Location: Porto, Portugal

Dates: from April 18, 2021 to April 22, 2021