Forget spreadsheets, swot analysis and risk management, the latest topic on the business school agenda is happiness.

Those academics who research the topic prefer to classify it a bit differently, however. “Meaning” is the term used by Lee Newman, dean of innovation and behaviour at IE Business School in Spain. At Michigan Ross in the US, Jane Dutton, university professor of business administration and psychology, says it is about “human flourishing”. Christie Scollon at Singapore Management University describes it as “subjective wellbeing”.

But however they describe it, they all agree that happiness makes good business sense. Moreover, employers and policy makers need to consider the happiness factor if they are to promote strong economies and profitable companies.