Product and service innovations can be geared towards reducing your company’s negative impacts on the one hand, e.g. using a more environmentally friendly material for production, as well as helping users reduce their own negative impacts on the other, e.g. with a product consuming less electricity or water when used. The same goes for services : on the one hand, a service can be created in a way which is in keeping with sustainable development. For example, changing the internal organisation of work could offer employees greater flexibility, thus improving their work-life balance. In addition, a service can support customers in becoming more sustainable themselves, such as with a sustainability-oriented advisory service (e.g. offering sustainable financial services).
The value chain comprises not only suppliers and other business partners together with their contractual partners, but also the users of your products and services and possibly also recycling (see criterion 4).
The term product life cycle refers to the entire product process including prior to its market launch, while in the market and once removed from the market. This therefore includes impacts in the areas of design, raw materials, manufacture, transport, usage and reclaiming. In the interests of sustainability, recycling would be desirable at the end of this, rather than disposal. Companies can contribute to sustainable development at all the stages by means of innovative processes.
