June 20, 2024

Fredrick Schroy

Trailblazing Entrepreneur

15 Examples of How Companies Are Using Innovation to Create a Bigger Impact

Introduction

Innovation is a word that gets thrown around a lot these days. But what does it really mean? Is it just an idea, or something more? And how can you use it to make your company better and more sustainable? If you’re looking for answers to these questions, then look no further than the following 15 examples of companies that are using innovation for good:

1. Etsy

Etsy is a marketplace for handmade goods and vintage items. The company’s mission is to use the power of business to create social change, which they accomplish through their three main pillars: economic opportunity, environmental sustainability and social responsibility.

Etsy has over 1 million sellers who collectively sold over $2 billion worth of goods in 2018 alone–and they’re not done yet! Last year was their best year ever with over $3 billion sold in total sales volume through the platform (up from $2 billion in 2017).

2. Patagonia

Patagonia has a long history of sustainability. The company began in 1973, when founder Yvon Chouinard set out to create the best climbing gear in the world. But he also wanted to make sure that his products were made responsibly and with minimal impact on the environment–so he started using recycled materials, avoided toxic chemicals and dyes, and even refused to sell products made with endangered animals’ fur or feathers.

Since then Patagonia has continued its mission to save the planet through innovation:

  • Its Worn Wear program allows customers who buy used clothes from Patagonia stores to get store credit for their items so they can purchase new ones instead of adding more waste into landfills;
  • Its Common Threads Initiative works with factories around China so that all workers are paid fair wages (upwards of $1 per hour) while still producing quality clothing at competitive prices;
  • And most recently it launched an initiative called Re-Tool which provides grants up to $100K each year for individuals working on projects aimed at reducing carbon emissions across multiple sectors – energy efficiency improvements in homes & buildings; clean transportation solutions like electric vehicles & bike share programs

3. American Eagle Outfitters

American Eagle Outfitters is a retail clothing company with a commitment to sustainability. The company has been working toward its goal of becoming “the most sustainable apparel retailer in the world” since 2006, when it launched its EcoModa initiative. Since then, American Eagle has implemented various sustainable innovations into its supply chain and manufacturing processes–including recycling, energy efficiency, and water conservation practices–and brought those innovations to market through their brands AE and Aerie (which sells lingerie).

American Eagle’s commitment to innovation extends beyond their own operations as well; they also partner with other businesses that share similar values. For example: In 2018 they partnered with REI Co-Op (a consumer co-operative) on an initiative called “REI Get Outdoors.” The program encourages people who live near one another but don’t know each other yet to get outside together by organizing outdoor activities such as hiking trips or kayaking classes; these events are often organized via Facebook groups created specifically for this purpose by members themselves!

4. Whole Foods Market

Whole Foods Market is a chain of supermarkets in the United States. It was founded in 1980 by John Mackey and Renee Lawson Hardy, and has since grown to be one of the biggest organic food retailers in America.

The company’s mission is to provide quality products and services that satisfy and delight customers by always being their most trusted partner, even if it means losing money on individual sales transactions.

5. Levi Strauss & Co

Levi Strauss & Co. is a global apparel company that designs, manufactures, distributes and sells jeans, casual wear and related accessories. The company’s products are sold in more than 110 countries through approximately 6,000 retail stores including the world’s largest retailer of Levi’s jeans.

Levi Strauss & Co.’s mission statement is “To uplift humanity by making people everywhere feel better about themselves.” To accomplish this goal they have created a strategy called Innovation with Impact: A New Approach to Business (IWI), which focuses on three pillars: 1) Creating Positive Change 2) Increasing Sustainable Value 3) Driving Profitable Growth

6. National Geographic Society and CauseMedia Hub

National Geographic Society and CauseMedia Hub are partnering to create a platform for social change.

The partnership will focus on three areas: connecting brands with nonprofits, identifying new opportunities for collaboration and driving awareness around the issues that matter most. In addition to National Geographic, other founding members include Patagonia and Levi Strauss.

EION is a network of global brands and nonprofits that are committed to making an impact in their communities through collaborative efforts such as this one–and it’s just one example of how companies can use innovation to create a bigger impact than they could achieve alone!

7. Procter & Gamble

Procter & Gamble (P&G) is one of the world’s largest consumer goods companies, with over $83 billion in revenue in 2018. They’ve been working on sustainable business practices for a long time–they have implemented a goal to cut carbon emissions by 45{b863a6bd8bb7bf417a957882dff2e3099fc2d2367da3e445e0ec93769bd9401c} by 2020, and reduce water usage by 20{b863a6bd8bb7bf417a957882dff2e3099fc2d2367da3e445e0ec93769bd9401c} by 2020.

P&G uses innovation as part of its strategy to create positive impact on society and the environment. For example:

  • The company developed the first biodegradable detergent pouch in India called Tide Pods Plus (Tide Plus). This innovation helps people save money on soap since they no longer need separate packaging when buying detergent or face issues disposing them after use because they can be thrown away directly into trash cans instead of having separate bins for plastic bottles or bags like most other brands require users do today.*

8. Johnson & Johnson Vision Care Business and Eyes on India Innovation Network (EION)

Johnson & Johnson Vision Care Business and Eyes on India Innovation Network (EION) are working together to help entrepreneurs develop innovative solutions for eye care in India.

EION is a network of entrepreneurs, investors and mentors who work together to solve common problems in eye care through innovation. EION is supported by Johnson & Johnson Vision Care Business as part of its commitment towards ‘Creating a Better Tomorrow’. The aim is to foster entrepreneurship within the community by providing funding support, mentorship, training and access to technology.

Here are 15 examples of how companies are using innovation to create a bigger impact

Innovation can be used to solve any problem. Here are 15 examples of how companies are using innovation to create a bigger impact:

Etsy, the world’s largest online marketplace for handmade and vintage goods, has taken steps toward becoming a B Corp–a designation that recognizes businesses that meet high standards for social and environmental performance, accountability and transparency. Patagonia’s commitment to protecting the environment includes an ambitious goal of 100 percent renewable energy by 2020; it has also pledged $10 million toward helping the fight against climate change since 2008.

American Eagle Outfitters (AEO) has partnered with TOMS Shoes on several initiatives over the years including launching limited edition shoes inspired by AEO’s denim line and creating products using recycled materials from its stores’ recycling bins or other sources within its supply chain such as plastic bottles collected from beaches around Santa Monica Bay after they were washed ashore during storms last year.”

Conclusion

We hope these examples have inspired you to think about how your business can use innovation to create a bigger impact. If you’re ready to start taking action, check out our guide on how to build an innovation strategy.