The Market Matters

Last year, a product called the GiraDora was introduced: a foot powered washing machine developed specifically for populations in Peru to save them time and money.

This simple machine, as you'd imagine, could be useful in any number of developing countries, and could potentially change the lives of millions of people by saving them up to six hours of laundry time in a given day (plus the physical labor needed to do the task). Its makers have won awards from from Dwell, Core77, Dell Social Innovation Challenge, and the International Design Excellence Awards.

But innovations like these have another benefit to their makers: profit. And that's good. Just as the market will drive what product or service is most wanted or needed, it will reward the innovator and businessperson who brought it to market. The market will also reward attention to bottom line. There's no room for waste or inefficiency, and the best workers should be rewarded for their talents and hard work. It's time to treat social business like any other business.

picture via Fast CoDesign