What is Mindset 3.0?
I was recently reading the report of the 130 social entrepreneurs surveyed by SustainAbility and The Skoll Foundation “Growing Opportunity: Entrepreneurial Solutions to Insoluble Problems”. I was particularly interested in their views of the progression of businesses in regards to sustainability. They refer to 3 phases:
- Mindset 1.0 — driven a compliance and regulations
- Mindset 2.0 — about corporate citizenship including transparency, accountability and voluntary initiatives
- Mindset 3.0 — seeing immense global challenges as potential opportunities to transform economic and political systems
Mindset 3.0 comprises 5 main components:
- Systems thinking and design — “cradle-to-grave” solutions with the consumer in mind
- Consumer engagement — co-creating new markets and services
- Business Models — applying and developing traditional business models
- 360° accountability — accountability and transparency to stakeholders
- Emerging economies — Bottom of the Pyramid (BOP) thinking
It is interesting to note that the concept of Mindset 3.0 concept dates as far back as 1942 when economist Joseph Schumpeter introduced the idea of “creative destruction” which is defined in Wikipedia as:
“the process of transformation that accompanies radical innovation. In Schumpeter’s vision of capitalism, innovative entry by entrepreneurs was the force that sustained long-term economic growth, even as it destroyed the value of established companies that enjoyed some degree of monopoly power.”
Mindset 3.0 is also in line with the Business 3.0 concept highlighted recently by Fast Company (Mar 2007). They refer to “Eco-Innovation” Revolution caused by a growing population and the supply of our natural resources under pressure and the need for innovative ideas and the global distribution of these to save our civilisation.
All of these concepts, be it Mindset 3.0, Business 3.0 or creative destruction, I believe ultimately refer to developing and implementing entrepreneurial and innovative solutions to global issues. At the same time, these solutions need to deliver value to these enterprises and/or individuals in order to sustain their long-term commitment to service the market. One high profile example was the announcement early last year of the Danone and Grameen Bank joint venture to form Grameen Danone Foods, which provides low-cost dairy products for poor communities in Bangladesh. The aim is to reduce poverty by creating employment opportunities for local people as the raw materials are sourced locally. The special yoghurt produced also assists to meet the nutritional requirements of children, in particular, and improve their health. The profits of the company will be re-invested for the creation of new opportunities for the welfare and development of people.
This is an inspiring innovation and while there are more examples, it would be great to see many more!
Popularity: 1% [?]
