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As we sweep up after the last months’ chaos, how can we recognize when we’re truly positioned strongly?
Look at the fundamentals of the new structures we’re developing.
Like so much of the world, my home is in turmoil.
But as I watch my sons’ clean up, I see issues.
When forced to help, five-year-old Reuben simply scoops everything attractive that happens to be close. The three-headed monster toy is tossed with three playing cards and a blue marble.
At first blush, Reuben’s room is cleaner. However, he simply traded visible chaos for invisible disorganization.
The last few months, we’ve done the opposite from Reuben as an economy: we’ve traded invisible failure for high-profile disruption.
Even before covid, we had weaknesses, although many weren’t frequently discussed. In fact, more than 60 percent of America’s pre-covid economy was dedicated to industries failing to deliver on their original social responsibilities, despite the potential promised by digital technology:
- Food: Our food didn’t nourish us as it should. The obesity epidemic was global, and levels of micronutrients were decreasing in our produce.
- Healthcare: Americans spent the highest amount on healthcare. Yet we had the shortest lives in the developed world—and they’re getting shorter, as depression, suicide, opioid addiction, and other problems grow.
- Education: Despite large increases in education spending, huge portions of American college graduates couldn’t understand a simple table nor make a cohesive argument (Belkin 2017).
- And more
With the current mess more visible, we’re forced to clean up. Many organizations introduce positive tools and take constructive steps. For example, companies recognize families with more time together are stronger– so more are promised ongoing virtual-work. The value of Black Life is more highly recognized, so discussion of ‘anti-racist’ actions spread from police to businesses, media, and the dictionary.
Such actions are wonderful.
But our refreshed organizations must succeed in a turbulent world.
I don’t know what’s next.
But I am confident that brands, companies, and industries will tend to be more successful when they are fundamentally sound. When participants can look at all of the individual pieces and convincingly explain how they work together, across industry or society to deliver:
- Race-neutral outcomes
- Nourishing foods
- Enlightening education
- And the other basics that society requires
Incremental improvement creates some value. However, delivering the leadership necessary to solve a structural social problem unleashes trillions of reasons for business and investors to become excited.
In what way could your business deliver greater value for yourself and society if ‘the world worked a bit differently’?
Safeguard your future today. And position yourself to thrive for our children tomorrow.
Rod
Dr. Rod Wallace is an economist, consultant, and speaker who helps businesses make more money by solving society’s problems. A Fulbright Fellow, he has led multi-organization billion-dollar initiatives worldwide and partnered with a Silicon Valley pioneer to explore the impact of Artificial Intelligence on society.
Rod speaks about how to integrate social responsibility into business to maximize profit and purpose. He highlights digital technology’s impact on society and the strategies and tools with which business can solve our big, systemic problems.
Contact Rod at info@RodWallacePhD.com.