conscious capitalism
Post on 15-Oct-2014
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WHAT IS CONSCIOUS CAPITALISM?
The 20th century witnessed a lengthy battle between polar opposite
views of how to organize and regulate economic activity. Although
free market capitalism won that epic struggle decisively, it failed to
capture the minds of intellectuals and the hearts of citizens.
Corporations are probably the most influential institutions in the
world today and yet many people do not believe that they can be
trusted.
Conscious Capitalism is a philosophy based on the belief that a more
complex form of capitalism is emerging that holds the potential for
enhancing corporate performance while simultaneously continuing to
advance the quality of life for billions of people.
The Conscious Capitalism movement challenges business leaders to
re-think why their organizations exist and to acknowledge their
companies' roles in the interdependent global marketplace.
Today's best companies get it. From Zappos to Whole Foods, the
Container Store to Google: they're generating every form of value that
matters: emotional, social, and financial. And they're doing it for all
their stakeholders. Not because it's "politically correct"; because it's
the ultimate path to long-term competitive advantage. Conscious
Capitalism differs from Corporate Social Responsibility (CSR) by
virtue of its origins from within the company as an expression of an
overall perspective on how to conceive and build a business, rather
than as a response to external notions of what counts as "socially
responsible" or external pressure.
Conscious Capitalists are unapologetic advocates for free markets,
entrepreneurship, competition, freedom to trade, property rights, and
the rule of law. They recognize that these are essential elements of a
healthy, functioning economy, as are trust, compassion, collaboration,
and value-creation. Conscious Capitalism is the system-level effect of
a substantial number of companies practicing the four tenets of a
Conscious Business as defined below:
HIGHER PURPOSE
Conscious Businesses adopt a higher purpose that transcends profit
maximization. A compelling sense of purpose can create an
extraordinary degree of engagement for stakeholders and catalyze
tremendous organizational energy.
STAKEHOLDER ORIENTATION
Conscious businesses are explicitly managed for the simultaneous
benefit of all of their interdependent stakeholders, including
customers, employees, investors, suppliers, and the larger
communities in which the business participates. Stakeholders
comprise an interdependent and interrelated system, recognizing that
by creating value for all of the stakeholders (in various and often
differing ways) the whole system advances.
CONSCIOUS LEADERSHIP
Driven primarily by service to the firm's purpose, and focus on
delivering value to the stakeholders, Conscious Leaders adopt a
holistic worldview that moves beyond the limitations of traditional
machine metaphors for business. They view their enterprises as part
of a complex, interdependent, and evolving system with multiple
constituencies. Conscious Leaders see that profit is one of the
important purposes of the business, but not the sole purpose. Most
importantly, they reject a zero-sum, trade-off oriented view of
business and look for creative synergistic win-win approaches that
offer multiple kinds of value simultaneously to all stakeholders.
CONSCIOUS CULTURE
Captured in the acronym TACTILE: Trust, Authenticity, Caring,
Transparency, Integrity, Learning and Empowerment, the word tactile
also suggests that the cultures of these companies are very tangible to
their stakeholders as well as to outside observers; one can feel the
difference when walking into a conscious business.
The Conscious Capitalism movement now includes an expanding
community of CEOs and thought leaders globally. The movement has
a fast growing presence in Europe as well as in Asia.
2012 Conscious Capitalism
CEO Summit
October 9 - 11, 2012
Hyatt Lost Pines
Austin, TX
More Than a Movement – the gist
Conscious Capitalists are enthusiastic advocates for free
markets, entrepreneurship, competition and voluntary
trade. They recognize that capitalism thrives in
environments that foster property rights, freedom to
contract, and the rule of law. And, they are aware that
trust, compassion, collaboration, and value-creation are
essential elements of healthy, functioning economies.
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