Doughnutonomics! Satisfy your appetite for a better brand!

 

 

 

 

It’s time for us to savour the goodness of 21st Century economics. It unleashes the power of playing within limits and achieving our goals. With a six-stringed guitar, you can entertain the world and within the boundaries of a well-defined tennis court, Serena Williams can beat any opponent in the world. Boundaries make us excel and that is at the core of Doughnutonomics.

Doughnitonomics sets 11 goals that humanity has to achieve and never fall short of. These are the basic needs of the people like food, water, shelter, energy, political voice etc. But in reality, as Kate Raworth puts it, we are falling short in many of these parameters already. She calls this the ‘Social Foundation’. If we think of the economy as a doughnut, these goals fall in the middle hole of the doughnut and people need to be taken out of this hole into the circular area above of the doughnut. 

The upper boundary of the doughnut is what she calls the ‘Environmental Ceiling’. We have already overshot some of the environmental parameters. All our social goals have to be achieved without overshooting the environmental threshold. The 9 environmental factors to be taken care of include climate change, ocean acidification, land conversion, ozone layer depletion etc. 

Companies that operate in this world have to strike a balance by achieving the Social Foundations without overshooting the Environmental Ceiling. That is to say, the 11 objectives have to be met by playing within the 9 boundaries. And this is the doughnut space, the space where businesses will thrive, a space that is socially just and environmentally safe for businesses to operate.

A company’s Higher Purpose, values, culture, governance and actions based on the loftier goals beyond profits will only ensure this. Stop being degenerative and be regenerative. And that’s at the crux of 21st-century economics and branding. Let’s join hands to build a beautiful world, where business, planet and humanity will thrive in perfect harmony. 

Bon appetit!