Concept of Conscious Capitalism

Conscious Capitalism

The purpose of this discussion is to provide the author’s reactions to the concept of Conscious Capitalism.

In the book Conscious Capitalism, John Mackey and Raj Sisodia explain in detail their belief in the “heroic nature of business, its essential virtues, and its extraordinary potential to do more good for more people in a sustained manner than any other social or economic system ever invented by humankind” (2017. P xv).  What seems to be a simple idea, extends into a novel of epic proportions.  Their examination is full of methods sustaining the success of individual companies when corporations place global importance above the importance of financial gain.

The author is intrigued by the idea of social responsibility as it pertains to Conscious Capitalism.  What once seemed a way for businesses to “show off” is now believed to be how a firm uses its assets to benefit others.  For instance, Starbucks gives back to the coffee farmers and Hershey assists in the education of agriculture for their cocoa farmers in less developed countries.  Before reading this book, one assumed this was a corporation’s way to promote themselves or brag on the good they were doing for the world to gain a more significant bottom line.  One now sees this as false; companies are striving to benefit the planet for the good of others and not themselves. 

The thought of building teamwork by promoting an ethical environment should be commonplace, but it is not.  Because of the lack of quality teamwork, companies are now striving to find ways to improve the morale of their employees.  In doing so, they are expanding on the idea of Conscious Capitalism.   “It is deeply fulfilling for people to be a part of a team, where their contributions are valued, and the team encourages them to be creative and make contributions” (Mackey & Sisodia, 2017. P 91).   Instead of building competition amongst their workers, building comradery is now the more significant benefit. 

To sum up, the author, once skeptical, now appreciates the idea of Conscious Capitalism.  Through their in-depth writing, John Mackey and Raj Sisodia encourage corporate gain through global generosity.  Building a business with thoughts of financial benefit alone can be defined as successful, but the success of the companies who give without thinking of their bottom line gain so much more. 

References

Mackey, J. & Sisoda, R. (2017). Conscious capitalism. Boston, MA: Harvard Business Review

Press.