(397 words)
What’s a trillion dollar opportunity look like?
Consider bodyweight.
I know many people (72% of all Americans) struggle with weight, but me? I mean, I had my son’s wiry frame as a teen, I swam in college, and played water polo in grad school. Yet, I was a classic, overweight. American: I ate poorly and sat for hours.
And what’s my cost of being overweight? Increased risk of diabetes, heart disease, and cancer. More doctor visits. A greater chance of early death.
Even a large project that targets incremental improvement in body weight or some new, individual technology is unlikely to deliver meaningful change. For a revolution in outcomes, we must fundamentally question food industry design. How can the industry communicate about healthfulness more meaningfully, increasing consumer understanding while also expanding innovation? Which tools can support industry collaboration on the myriad of related challenges while maintaining healthy business competition?
Such a system redesign would target trillions of dollars in potential value creation, which is greater than yearly food industry value-added, and many times current profits. Think of the hundreds of millions of years of life (at least 0.9 years lost per American) that could be regained. The $254 billion that could be saved in yearly healthcare spending. And the potential quality of life gains, not to mention the end of obesity’s threat to American national security (CDC). In fact, correcting any major social failure (such as in education, housing, or cultural bias) could result in similarly massive value creation.
Before targeting a socially responsible effort, consider, “Is incremental improvement enough, or should I target a breakthrough system redesign?’
Redesigning social systems requires collaboration and innovation, insight, and leadership yet doing so enhances impact on profit and social impact, for your actions and those of everyone around you.
Perhaps you think taking such a systemic approach is massively expensive. Is that necessarily true? Share your thoughts in the comments or by sending me an email: info@RodWallacePhD.Com.
Our society cannot just survive. For the sake of our children, it must thrive.
Rod
Dr. Rod Wallace is an economist, business strategist, and expert on digital technology’s impact on society and the strategies and tools with which business can solve our pressing social problems. Contact him at info@RodWallacePhD.com.