Concept of Conscious Capitalism

Conscious Capitalism

The purpose of this essay is to give my insight and feelings on the concept of Conscious Capitalism.

The Four Principles of Conscious Capitalism: Higher Purpose, Stakeholder Orientation, Conscious Leadership, and Conscious Culture (Conscious Capitalism website, 2017) are values that any business could implement. Therefore, I believe in the concepts and see this as a thoughtful and meaningful way to do business.

My original thought was businesses needed only to make money and in a free enterprise society that was it. Now, I agree with this statement: “We believe that free enterprise capitalism is the most powerful economic system for social cooperation and human progress ever conceived – when practiced consciously. Conscious Capitalism produces businesses that are good, ethical, noble and heroic.” (Conscious Capitalism website, 2017).  We need good business that are ethical, far too many are not. They are driven by greed and don’t see the need to give back to the very groups that contributed to their success. It is a race to the top of the mountain only to discover that it is lonely there. Conscious Capitalism teaches us to recognize those elements, helps them grow and in return the business grows.

I have no real negative feeling about the concepts, just a concern. Any organization that is being conscious and wanting to elevate their employee should spend a great dealing of attention to those who may not fit “Healthy Norms”.  With the rise of bullying and shaming that has taken place in the workplace this is an area where attention to detail must abound. The company would have to make sure that the primary purpose for wanting any employee to gain control over any unhealthy habits, dietary habits, or life style habits is ultimately to make them better, thus making the business better. Whole Foods co-CEO John Mackey stated that it does work,” We know that when our team members are healthy, they have more energy to do their jobs and give better service to our customer and the company, in turns, needs to spend less money on their health care. So, it’s a win for the team member, customer, investor and other stakeholders.” (Mackey, 2014) and I accept that it would, but everybody is not Whole Foods. Robert Greenleaf, author of Servant Leadership observed that “Good leaders must first become good servants.” Conscious Leaders focus on “we,” rather than “me.” They inspire, foster transformation and bring out the best in those around them. They understand that their role is to serve the purpose of the organization, to support the people within the organization and to create value for all of the organization’s stakeholders. They recognize the integral role of culture and purposefully cultivate a Conscious Culture of trust and care.” (Conscious Capitalism website, 2017). When business gain and retain the servant attitude employees and the business wins. We are our bothers keeper and this is sadly overlooked.  

Taking everything in to account that I have read and studied up to this point, this is the way that business should conduct themselves. Thus, allowing all stakeholder to continue to expand for the betterment of business and society.

                                               References

Conscious Capitalism website. (2017). Credo: https://consciouscapitalism.org

 

Mackey, J., & Saisodia, R. (2014). Liberating the Heroic Spirit of Business: Conscious Capitalism. Boston, MA: Harvard Business School Publishing Corporation