In this era of constant change, the way a business delivers value today likely won’t be the same tomorrow. Leading companies recognize the need to continually innovate in order to uncover new sources of revenue, create a sustainable competitive advantage and drive ​business growth​. According to a survey conducted by McKinsey, 84% of executives agree that innovation is important to growth strategy.

Over the past two years, businesses have experienced unprecedented operational disruptions and market uncertainties due to the COVID-19 pandemic.

Accordingly, many business executives are prioritizing innovation to enhance competitiveness and performance as we are rebounding after this crisis. This is easier said than done, as the list of supposedly essential innovative practices is extensive and growing, and only companies with strong innovation cultures will successfully execute strategy, create competitive advantages and achieve performance objectives.

The evolution of technology and the demand for sustainable innovation is becoming one of the main drivers of revenue growth for businesses across industries. 

Addressing consumer demand for greater sustainability, whilst achieving economic performance because of (rather than despite) environmentally and socially aware operations, sustainable innovation results in a cleaner, healthier, fairer, and more stable world – a higher tide that propels economic growth across the board.

So closely intertwined are the two concepts of sustainability and innovation that today’s sustainability leaders are 4 times more likely to be considered innovation leaders compared to non-sustainability leaders.

Positive innovation combines insights from ‘positive psychology’ (the science of human happiness and wellbeing) and ‘positive design’ (design that facilities wellbeing) to create a series of tools and techniques that can help brands instil human happiness as the ultimate goal and innovate for a more positive future.

Beyond the moral appeal, this has a compelling business logic – people believe happiness and wellbeing is worth paying for. For example, the fast-growing global wellness market is now worth $4.2 trillion, four times larger than the global pharmaceutical industry.