The German Government just wrote that it will fund a new business practice in my company. The Wellbeing Economy, pioneered by Prof Lorenzo Fioramonti of the University of Pretoria, offers new roadmaps on how to build businesses of the future. The seed funding was communicated via an email from the Global Leadership Academy of the German Government.
From GLAC-side, we would be able to support you financially with a … seed funding
In my Advisory subsidiary, we invented the Wellbeing Economy Leadership Practice (WELP) which supported by our WELP Center of Excellence.
A WELP Center of Excellence (CoE) is a vehicle for delivering projects and program excellence so that besides fiduciary responsibilities, business processes deliver wellbeing to the operating ecosystems. WELP CoE provides the standardized approach, strategy and templates to manage businesses with absolute commitment to the wellbeing of the states. To help firms, we provide a WELP Charter to guide top business leadership on this critical organizational transformation in the early part of the 21st century.
In building a WELP CoE, organizations can start small, use existing resources, and achieve tangible benefits almost immediately. We will assess, define scope, design, implement and validate the elemental pillars that will help the organization drive productivity even while saving, not just in the short-term, but also in the long-term.
You can read about Wellbeing Economy here
The current economy can be described as a vertical structure in which wealth created by growth at the top of the pyramid is ‘expected’ to trickle down to the lower layers. The separation of production and consumption roles leaves ‘consumers’ on the receiving end of the growth process. The model is reinforced by the predominant economic growth measurement, which is the gross domestic product (GDP).
By contrast, an economy designed to promote wellbeing needs to be adaptable, integrative, and empowering. Adaptable, because the new economy must operate like a network, abandoning the conventional vertical structure to expand horizontally, and to build resilience against external shocks through a system of nodes; integrative, because it locates systems of production and consumption within the broader biosphere; and empowering, because its users will take control, rather than performing the passive role of mere ‘consumers.