Many of you may have heard of or read the book Conscious Capitalism: Liberating The Heroic Spirit of Business. It was published in 2013 by John Mackey, the CEO of Whole Foods, and Raj Sisodia, a professor of global business at Babson College. The book introduces the philosophy and business practice known as “conscious capitalism.”
Conscious Capitalism is ethical business practice. It is protecting the interests of everyone affected by the business, including customers, investors, suppliers, employees, communities, and even the environment. In a simple sense, it is the result of applying empathy to a business. It is sticking to good moral and ethics. It is about caring.
There are four principles of Conscious Capitalism, which John Mackey himself practiced at Whole Foods. The first is Higher Purpose, which is the purpose of the profit. ConsciousCapitalism.com says that “By focusing on its deeper Purpose, a conscious business inspires, engages and energizes its stakeholders.”
The second principle is Stakeholder Orientation. It is the commitment to consider the entire ‘business ecosystem’ which will care for and create a ‘healthy, sustainable, resilient business.”
Conscious Leadership comes next. It is the principle of having a strong leader who serves the people as a whole, not just himself. This leader will inspire, support, and encourage the people around them.
The last principle is the concept of Conscious Culture. This is the force that holds it all together. It is nurturing team members and stakeholders. “Culture is the embodied values, principles and practices underlying the social fabric of a business, which permeate its actions and connects the stakeholders to each other and to the company’s purpose, people and processes.”
The non-profit organization, Conscious Capitalism, that focuses on promoting the ideas and principles that are found in the book. The current CEO is Alexander McCobin, and he is a close professional contact with Praxis. The organization leads to businesses that are “good, ethical, noble, and heroic.” They partner with startups and other corporations to help them practice ‘conscious capitalism.’
I believe that this concept will be seriously beneficial to all those it touches. I think people will appreciate the practices that are being put forth to make sure that everyone affected by the business is taken care of. I admire the work that is being done by Conscious Capitalism and genuinely hope I get the chance to work with them someday. I believe in what they preach and I’m sure you do too.
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