Photo credit: Daria Nepriakhina
Businesses are facing a paradigm shift as governments, investors, and consumers are pushing companies to change towards a greener economic model. Now more than ever before, finding new ways of economic growth and progress are at the top of the agenda for businesses.
Companies have been asked to create long-term sustainable practices, protect the environment, respect society's well-being, and tackle as many UN sustainable goals as possible. Meanwhile, these same companies are also expected to improve profitability and increase market share for current shareholders. The challenge is here. And the solution to get there can be a complicated journey.
Startups, such as Ogoori, have been developed from scratch with sustainability at their core. Ogoori’s model includes green growth and a circular closed loop for consumption. While established companies, in general, continue to adopt their old way of doing things to be "more sustainable." Sustainability has to be incorporated into the core of the business model so that all departments are aligned to make a circular impact.
For companies to reach effective ways to cover energy, water, and waste efficiency, a diverse, cross-sector approach is needed. An understanding of the context of how businesses in the future will operate is also essential. These are necessary factors to plan a sustainable action to help a business transition to a green growth model. Solutions come from innovation, developing technology, creating new ways to deliver services, inventing new products, using new materials, such as marine waste, and influencing consumer habits.
Photo: Representative of Ogoori and other green startups in Norway Summit 2020
Companies have been challenged to find new ways of producing, offering, and consuming services and products, but how to incorporate all these new patterns in their business model? A tool to formulate new practical and strategic techniques is needed. Design thinking can be a tool to help businesses in the transition process.
Ogoori uses design thinking to help its clients find the best solutions to transition from the linear model to a circular one, and incorporate marine plastic in their products.
Through design thinking, we aim to help companies that will use Ogoori's material as a service to change the way that they create green value for their final consumers. This is helping our customers (the companies) execute and test their new initiatives. We help our customers to design new products with the cradle-to-gate approach and with the expectation of evolution. And so, we influence growth in the economic shift to the circular model.
Diagram: An illustration of linear economy, recycling economy and circular economy.
Using design thinking, we can incorporate a view of new scenarios into the strategy. It helps to point out the expected uncertainties, finding new opportunities in the market, and get businesses to adopt a greener economic model, such as circular consumption. To set a framework for action is the ultimate goal. Ogoori is proud to contribute to companies who are acting to transform their strategies, planning for a disruptive change and use future thinking to build resilience.
Join us in a partnership for the goals (SDG17) of generating economic growth in a more sustainable world. We are looking forward to exploring possibilities with you through design thinking.