There have been a lot of stories lately about the influence of businesses on how we act, think, and feel.
Inspiring narratives about organizations creating wealth in the world. But also tales of others that generate benefits for a few while putting the common wealth at risk.
As organizations and a society, we are still working to find a balance between creating value in one area without hurting another. It’s a tough but solvable problem.
Because as influencers within an organization we can leverage the tools of portfolio management to make better strategic and tactical decisions that lead to positive impact.
Building a portfolio focused on higher-order impact
In a past post, we discussed why shifting from business to “betterness” is important and some simple tweaks you can make to change how your company talks about your purpose and decisions.
Over the next few weeks, we’ll dive into other practical ways you can embed this approach into your own portfolio management process. Enterprise transformation and innovation can and should cover more than automation, new digital interfaces, and customer convenience.
We’ll consider these categories related to organizations helping to create a good life for all:
Financial wealth
Unlocking and leveraging money as a tool to create value
Example portfolio themes: creating wealth for others, reducing wasted funds, co-ownership, alternative payment options, funding outside projects, hiring people who are otherwise looked over, helping other people reduce financial waste, addressing the needs of people close to or below the poverty line, and exploring alternative hiring models.
Environmental wealth
Protecting and creating thriving natural ecosystems
Example portfolio themes: sustainable production, circular economy, reuse, energy conservation, zero waste solutions, clean water, sustainable consumption, and other sustainable practices.
Human wealth
Supporting healthy and wise global citizens who are equipped to take action
Example portfolio themes: mental health, physical health, preventative actions, treatment, caregiving, healthy food, products that improve health, elimination of toxic solutions, education quality and access.
Social wealth
Improving relationships between people
Example portfolio themes: supporting local communities, matching people, hosting events and forums around shared interests, giving, mentoring, civic involvement, trust building, violence reduction, and security.
Emotional wealth
Helping light other people up and sparking positive emotions
Example portfolio themes: belonging, support, entertainment, wonder, imagination, confidence, purpose, courage, hope, motivation, resilience, happiness, and peace.
Intellectual wealth
Fostering a global brain trust and converting data into insights and action
Example portfolio themes: targeted knowledge that meets needs and constraints, engaging challenges, support along the path to mastery, forums for exploring and sharing new ideas, protecting fading yet important skills, improving access, helping information evolve and spread, fostering art and culture.
Organizational wealth
Using the power of organization to solve problems and unlock new opportunities
Example portfolio themes: creating new jobs that provide opportunities without harm, partnerships, collaborations, encouraging an entrepreneurial ecosystem connected to your organization, organizing existing information or resources to create value, simplification, and impacting the legal or policy arena.
As this spring unfolds, we’ll spend each week exploring ways to incorporate these categories of wealth creation within your portfolio decision making processes.
In the meantime, look over your organization’s current portfolio of investments. Don’t forget to consider all of the resources you’re investing, including material goods, money, energy, and mental bandwidth. Which areas do you already address in some way? Which areas do you want to improve moving forward?