Happiness, The New Competition

I'm still fascinated when people excuse monopolies and market dominators for their lack of innovation because they "lack competition." First, not only doesn't competition lead to creativity, the data shows that obsession with competition actually reduces capacity for creativity. Second, creativity doesn't improve with improved incentives.

Organizations that have competition get more innovative because they know how to. For every competitive organization that is creative there are others who aren't. They try to grow by more business as usual, the antipathy of innovation. They all have the same amount of threats of market erosion and incentives of market growth. The ones that make difference in competitive markets are those with the competencies and structures to be innovative.

Now with the happiness research, certainly including my own global studies, we learn that happier people innovate more and better because of the reciprocal relationship between happiness and creativity. Happier people are more creative and the practice of creativity increases people's happiness.

This takes excuses away from the monopolies and market dominators. That they lack competition is not only irrelevant, if they committed to cultures of happiness, they would naturally and sustainably innovate more and better in the markets they serve.