The last consideration is environmental value, which sits at a global level. This is because while there are multiple societies, cultures and political bodies around the globe, we all share the same environment. Globalisation has increased the degree to which our national economies are all interdependent. Likewise, our environment is increasingly interdependent on the global economy. We all have some association to the environment, and morally should contribute to its longevity. Some opportunities will specifically address the environment. Others will impact it indirectly. No opportunity is entirely free of impacting the environment.
‘Going from PayPal, I thought well, what are some of the other problems that are likely to most affect the future of humanity? Not from the perspective “what's the best way to make money”.’
Elon Musk
ExampleMotor boat conundrum
Direct impacts on the environment include how you envisaged your innovation will be used. For instance, you may identify an innovative opportunity to connect everyday people to private boat owners, providing the public the opportunity to hire unused boats at a reduced fee. This is innovative because it gives boat owners an extra form of income, and provides those who don’t own boats with an affordable opportunity to access them. While this opportunity may deliver personal and economic value to the owners and the people using them, you should be aware that an increased use of motor boats can contribute to air pollution and negatively affect our marine life.
You also have a choice regarding where to source your materials and labour from. For instance, do the uniforms for your staff come from a supplier that dumps excess chemicals and dyes into rivers? Turning a blind eye to environmentally harmful practices that are ‘not in my backyard’ does not make them disappear.
