It had to be the Pandemic to give the world a serious wake up call to realize how the existing global business model is at stake. Profit at all costs without regard for environmental and social impact will have serious consequences today.
Sustainability is one of the major issues that companies and governments must make their priority to prevent a global environmental disaster from happening. It is both a dangerous and exciting time.
There are many questions that are unanswered, but now is the time for the CEO’s of companies to use top creative and tech talent to help them transform and navigate through these times. The key corporate assets that will define the successful businesses of the coming era are: Trust, transparency and 100% commitment to work together on making a better world, a safe environment, recyclable products, healthy food and easy access.
The ability to live sustainably and to make creative and thoughtful use of natural resources is becoming the defining goal of American consumers. Forward thinking cities have been planning for and re-designing their spaces to accommodate bicycles, electric cars, etc. and the windmill is overtaking the solar panel as the symbol of enlightened living. This is just the beginning of a new life and value system. They are the new icons of a profoundly important trend which will become the key values of successful business around the world. These new value systems are the foundation in what we call 'The New Luxury'.
The current pandemic has further highlighted that 'The New Luxury' has become access to safe clean water, fresh air, healthy food, excellent health care and care for your community and a safe and healthy environment. A simplified life back to the core basics and needs which we as a capitalist society have forgotten and destroyed. Can the concept of "Sustainable Capitalism" thrive in a post Covid world? While the world is in pain with the effects of Covid, we should not regress and assume doing more of the same will yield better results. We argue that Sustainability should not be put aside especially now for near term relief. Now is the time when the world is in reset mode to seize the opportunity to push for further innovation.
Naysayers need not look any further to see the enormous growth and profitability in the Health and Wellness sector. Clearly, consumers care more than ever about the provenance of their purchases and are willing to spend more on products and services with companies that truly embody and support ethical and sustainable causes with product ingredients that they know and feel comfortable with. Today, companies that are not transparent and are mostly concerned about profits despite often serious and terrible consequences, are being dealt with swiftly in social media's public court of opinion translating into a loss of customers and sales.
Visionaries have been saying 'less is more' for decades and many have warned that the American obsession with big cars, big houses, big meals and overall excessive consumption is dangerous, but this is a true turning point moment: less is now desirable—it’s actually cool—and the windmill and the bicycle are perfectly emblematic of this new value system. The idea of less = more and whose products are a by-word for applied creativity, is beautifully positioned to become the leader in design by subtraction.
Creative leaders have a big task and opportunity ahead to shape and define the future of businesses. Design Thinking combined with Technical Expertise as a discipline has had a great impact on companies that are transforming their business strategies, however, designers should not have the overriding power. There are several design execs. that have concluded that real transformation, better design and great product can only happen when designers team up with developers. As John Maeda put it: “the only way to change the system is to work within it.”
One way to achieve the step change needed is to seek out "Game Changers" for your business. While not all companies can afford a full time innovation team, one way is to bring in a game changer executive on a consulting basis. Getting a professional outside perspective but with the full support of the CEO/Board, without inhouse political pressure will be the only way to make profound changes.
Author: Damian Chiam | COO Janou LLC