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Values for Value Creation

Wisdom tradition principles for sustainable prosperity

By Charles V. Towle, MBA Student

Business 899– Special Study with Cranmore Foundation

Professor Murray I. Silverman, Department Chair, Management

San Francisco State University

May 27, 2011

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Introduction

Crisis and ambiguity

Global systems are in crisis. Despite significant gains in science, technology and

management know-how, the world is confronted by a breakdown of financial, business,

governmental, societal and ecological systems. All of this presents us with a new order of

complexity. In an era where “discontinuity is the only constant” leaders are in need of a different

quality of solution if they are to successfully meet the challenges ahead. (Nonaka & Tekeuchi)

Information and the speed of access to data is not enough. “All the knowledge in the world did

not prevent the collapse of the global financial system”. (Haque, Umair) It seems that our

modern global culture has arrived at a place where “the ability to lead wisely has nearly

vanished”. (Ibid)

This unprecedented crisis raises questions even about the future viability of capitalism as

we know it. Paul Samuelson in the New Perspectives Quarterly (2009) posits that “today we see

how utterly mistaken was the Milton Friedman notion that a market system can regulate itself”.

(Ibid) It seems that Adam Smith’s notion of the market’s self-regulating “invisible hand”

deserves a new scrutiny when Alan Greenspan comments that “the whole intellectual edifice” of

financial economics “collapsed in the summer [of 2008]”. (Ibid) The causes of this crisis can be

attributed to “wicked problems”. (Rittel & Webber)

In simple terms “wicked problems” can be described as unique and difficult to define – in

fact they are often not understood until after a solution is formulated. (Ibid) Further, they: have

no stopping rule; are neither true nor false but better or worse; they can be symptomatic of other

problems; and their solution is a ‘one shot’ operation due to constraints that do not allow trial

and error. In recognising the “wicked problem” nature of the current crises, Barack Obama’s

chief economic advisor and former Harvard President Larry Summer said that “large swaths of

economics are going to have to be rethought”. (Haque, Umair) Furthermore, the complex

structure of global systems contributes to the creation of “super-wicked problems” (Lazarus &

Richard) which have the additional conditions where: there is no central authority; time is

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running out; those seeking to solve the problem are also causing it; and hyperbolic discounting

occurs.

In searching for solutions to our super-wicked problems some thinkers have argued for

the need to evolve a new model of prosperity that would revitalise our fundamental notions of

capitalism (Haque, Umair), away from industrial age attitudes to one that is more humane,

environmentally resource efficient and sustainable.

In his New Capitalist Manifesto, Umair Haque argues that our crisis is rooted in a “deep

debt” approach to prosperity. This means borrowing assets from future generations while also

shifting the burden of current real costs (externalities) forward to them. He convincingly argues

that this approach is not only unsustainable but is destructive and amoral. (Ibid) He describes the

prosperity of this type of “industrial age capitalism” as the creation of “thin value” and argues

that we need a new way of thinking that is aimed at “thick value” creation. While being a strong

advocate of the capitalist ideal, he argues that “thin value” prosperity grew out of the “game

reserve” abundance of the industrial age era – a time when there was no awareness of the

problem of finite natural resources. Our current shrinking bank of resources demands a new view

of “thick value” creation that meets the needs of everyone, which he analogously likens to the

tight confines of an “ark”, where the presence and actions of one passenger immediately affects

everyone else.

In “Creating Shared Value”, Michael Porter and Mark Kramer echo the need for a “thick

value” model of prosperity in their argument for the “creation of shared value” (CSV) that

addresses not only stakeholder needs, but also the needs of the broader host communities where a

business operates. (Porter & Kramer) In this they advance the notion of re-vitalising capitalism

by reframing attitudes to encompass the society at large, “bringing business and society back

together”, and in so doing create new markets and new prosperity.

Holistic-leaning ideas like “thick value” and “shared value” are not only new to business

thinking but would be anathema to the business ethics of industrial age capitalism. In responding

to the changes and challenges of early 21st century capitalism Haque, Porter, Mark and others are

following Einstein’s adage that “a problem can not be solved by the same consciousness in

which it arose”. Ideas like “thick value” and “shared value” are beginning to shape the contours

of potential solutions to today’s wicked problems. They are based in a broader view of society

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and capitalism’s role in serving the needs of society. Yet they are, arguably, the important

beginning of a new type of business consciousness that will help shape the future of sustainable

business.

Solutions to wicked problems requires one to think outside of the paradigm in which one

is operating. To achieve this, one will ideally have access to new sources of inspiration. Business

thinkers are indeed exploring for new sources of inspiration in addition to the rational, discursive

and efficiency models of industrial age capitalism. In fact it is in response to the singular and

overly rational mode of thinking and its unwanted by-products that new ideas like corporate

social responsibility have gained currency. Responding to consumer demands and following

guidelines in SA 8000, new legislation was written that addressed the injustice of child labour

and fair treatment for workers. What is now generally accepted as good common sense is in fact

quite recently implemented in the last ten years.

The search for better solutions have also taken business-thinking into the realm of

aesthetics, resulting in Daniel Pink’s claim that the “the MFA is the new MBA” in his book “A

Whole New Mind – Why Right Brainers will Rule the Future.” (Kennicott, Philip) The

Götenborg University of Business, Economics and Law hosted a “Design of Prosperity” Summit

bringing together thinkers from science, technology, humanity and the arts along with business

and economic thinkers for a trans-disciplinary discussion on the driving forces that affect our

present and future societies and their prosperity. The exploration of aesthetics is the result of a

recognition that those people who count value are not necessarily the people who create value.

Also that creating the “value experience” generates loyalty, participation and deep emotional

connection – a direct counterpoint to the rational, discursive model. CEOs from Eriksson, Volvo,

Nokia and other companies met with leading designers to explore the question of how to create a

better prosperity. The result was a recognition that the “rhapsodic mind” contributes at the

collective as well as the individual level.

Another source of inspiration for seeking new answers is the emergence of the topic of

‘spirituality in business’, with books like “Reinspiring the Corporation” by Mark Scott. He

argues that until recently business has focused largely on ‘the external’ with examples like

Theory X, Theory Y and Sigma Theory. His idea is that the next generation of development will

move away from the logical and discursive to the internal, to the “soul of business and the

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consciousness that drives business”. With an increase of titles on the subject such as “The

Inspired Manager” by Shabeer Ahmad & Maaz Gazdar; “Spirituality Inc.” by Lake Lambert;

“Islamic Business Ethics” by Dr. Rafik Issa Beekun and “Jewish Wisdom for Business Success”

by Rabbi Levi Brackman, the trend towards seeking new perspectives that will help deepen and

revitalise a more conscious capitalism such as that advocated by organisations like the Conscious

Capitalism Institute indicate a trend towards the “changing mind” of modern business.

This paper explores a new and further source of inspiration for reframing our attitudes

towards success and prosperity, which is found in the work of the UK based, Cranmore

Foundation. The Foundation researches the world’s wisdom traditions to identify what it calls

“universal principles” that support sustainability. Working with ‘culture-bearers’ from the

different traditions, such as Hinduism, Buddhism, Judaism, Christianity and Indigenous cultures

(Shamanism) to name a few, the Foundation aims to articulate those universal principles as

“design principles” for practical use in business, organisational development, education and

government.

Why Wisdom Traditions?

Wisdom traditions are repositories of collective human experience built over the

millennia. The quality of the knowledge found in these various traditions is acquired from direct

first-hand experience, not experimentation and peer review. As such it is not “scientific”

knowledge per se, but as Professor Mircea Eliade described its rooted in a deep collective

subjective that describes the way things are for the benefit and survival of future generations.

Such traditions are often, but not exclusively, orally transmitted and are thus more inductive

(received wisdom) than deductive (empirical). The “truths” of these traditions, their principles

and values are presented as parable, stories and metaphors that make access easy for anyone, but

may also make them seem provincial or simple. Thus these knowledge repositories can often

seem naïve to the modern mind, yet buried within their symbolism is a practical view of how

things are and how things work.

Wisdom traditions may offer us inspiration for not only better solutions, but also different

solutions, because their starting point assumes that the world is more than material or empirical,

rather it is deeply layered in ways not easily accessible to the singular rational or scientific mind.

This deeply layered approach is holistic in perspective as it recognises the inter-connected web

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of life, of people, nature, actions and reactions, economies, societies and individual and

collective identities. It recognises that there are different qualities of mind and consciousness and

that a better mind, refined by observation and reflection is able to perceive reality in a different

way that accounts for the subtle dynamics of the interconnected web of life. It is from this place

of wholeness, of seeing “the world as one”, that wisdom traditions guide individual efforts

towards a harmonious existence, sustainable in the long run because such existence does not alter

the delicate balance of natural reality. Thus the superior mind steeped in such a disciplined

relationship to everything has a superior perception of reality that can justly be called “wise”.

How do wisdom traditions claim that we can create sustainable systems? In very simple

terms they state that there are two different ways of being and living in the universe:

1. Living in accord with the universe and natural law – which leaves no negative

results

2. Living out of sync with the universe and natural law – which produces negative

results and further complications

The cultural and knowledge repositories of wisdom traditions are therefore aimed at realising the

former. When they talk about the nature and well-being of man, by extension they are also

talking about the vitality of business affairs. If they describe the potential of the enlightened or

perfected individual they are also implying the creation of the perfect business – one that meets

the needs of its shareholders, employees, stakeholders, society and the greater world in which it

operates.

The promise of these traditions is that acting in accord with universe principles results in

the creation of shared value and deep value. Their wisdom gives underpinning and meaning to

the importance of shared value and its resultant prosperity. What follows is the presentation of

one holistic model found in both Indo-Vedic and Chinese cultures. We will explore it as a

potential model that supports decision making that would lead to the creation of prosperous

sustainable systems.

A brief definition of ‘universal principles’

By universal principle we mean that which is axiomatic – the self evident which requires

no proof, or a universally accepted principle or rule. In wisdom traditions a universal principle

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applies generally to most everyone in most circumstances. They are understood as the underlying

principles that “carry life” and which define the conditions with which everyone must deal with.

While there is not much room in post-modern thinking for the idea of a universal anything,

common sense and experience tells us that there are indeed principles that underpin human

existence and experience. When we say that these principles are axiomatic, we do not mean

necessarily perfect unanimity, but rather a wide applicability.

Equally important to an understanding of wisdom tradition notions of universal principles

is that they are normative as well as axiomatic. Their existence and influence in human affairs

creates continuity and consistency in the outcome of human effort.

Many wisdom traditions talk about universal principles as “the law” or nature’s way of

ensuring continuity and enduring quality. That which goes against the law will experience the

results that accrue to the “out-law”. One example of our changing mind in this regard recognises

that working with nature and within her law holds out the promise of a new model of enduring

and benign prosperity that carries no negative effects. McDonough & Braungart in their “The

Next Industrial Revolution” article presents one such alternative approach that acknowledges

that the deep interdependence between business and nature is inherently and potentially fecund

and productive. (McDonough& Braungart)

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Three Approaches to Business - Expanding our Frame of Reference

Wisdom traditions begin by seeking to expand the frame of reference of the individual by

degrees, away from the selfish and narcissistic, to encompass a more broad minded perspective

that recognises one’s essential role within the greater whole. They create context by expanding

one’s frame of reference to account for factors outside of one’s self, such as others, society,

nature and the world – even up to the idea of the universe itself.

In researching the Indo-Vedic wisdom tradition, Cranmore Foundation has identified

three perspectives or approaches defined which the Foundation describes as the Narrow, the

Broad and the Deep.

The Narrow approach can be described as ‘business as usual’, where the priority is short-

term profit at the expense of everything else. In this approach business is not concerned with the

long-term consequences of its actions — externalities like pollution, depleted natural resources

or adverse social impacts are not accounted for. This “thin value” (Haque, Umair) approach

works against the larger long-term interests of business by limiting its perception of opportunity.

This “narrow conception of capitalism has prevented business from harnessing its full potential

to meet society’s broader challenges”. (Porter, Michael & Kramer, Mark)

The Broad approach is symptomatic of the “superior mind” of a more conscious

individual or business. Such an individual accounts for its relationship with the world and is by

degrees more responsive and responsible to a larger circle of stakeholders than those taking the

narrow approach. Companies that take a broad approach invest in stakeholder relationship

management [SRM] programs (Sisodia, Wolfe & Sheth), CSR initiatives, humane partnering

approaches to their work force, and acknowledge their responsibility for the impact of their

externalities. Yet, the Broad approach does not guarantee a sustainable reality, something more is

required. (Hart, Stuart)

The Deep approach, according to the degree of its application, gives the perspective

needed to achieve genuine sustainability. It is characterised by a deep awareness of the

interconnected web of life and nature and operates consciously from a place of service, care and

contribution for the greatest possible good. It acknowledges the interests of an expanded set of

stakeholders and thinks of its good as non-different from the good of all. (Savitz & Weber) The

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‘Effortless effort’

Values for Value Creation – Principles that Support Sustainability

There are four principles or values found in the Indo-Vedic and Chinese traditions that

support the creation of vital, harmonious sustainable systems. A brief explanation of their origin

in the Puranic literature of India is given in Appendix A.

The four values appear deceptive in their simplicity but on close study, their presence in

any individual, organisation or system makes them vital. Not only their presence but their

interaction with each other results in a dynamic condition of progressive development through

iterative cycles of improvement over time. They interact with each other, modify and enrich each

other’s presence and create stability. Where one is lacking, or the interaction between two or

more are weak, the result will be a diminished vitality. The four values are:

� Truth

� Respect

� Standards

� Effort

A brief summary of each follows below. The descriptions and expositions that exist in the

original Sanskrit text are extensive. For brevity’s sake, what is presented here is based on the

work of the Cranmore Foundation and is rephrased to the needs of the subject of business. We

will elaborate on these four values later in the paper.

Truth

This is the first cardinal value which can be described as the “essential purpose and

function” of a business. This truth relates to the nature and quality of a business or its raison

d'être — its core truth. This can be understood in different ways and to different levels. When a

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company defines its ‘mission statement’ well, it is giving voice to its core truth. To keep a

business vital, it must reflect on and live its truth purely, without distortion or dissonance. The

word truth is derived from the Sanskrit word meaning “that which endures, that which exists,

that which has value”. The principle of truth thus implies one’s “authentic existence”, that which

has “integrity and impeccability”.

Respect

This second cardinal value can be summarised as vital, harmonious relationships. This

relates to all the stakeholders, beginning with customers and extending outwards. It can be

summed up in the aphorism: “do least harm – do most good”. This is the guiding principle that

defines the expression of an individual or business’s expression of their core truth. It extends the

awareness of self away from the selfish and narcissistic to encompass the “everyone” and gives a

guide rule not dissimilar to the Golden Rule. More importantly it defines the domain in which

one’s core truth can only be fruitfully realised, which is the domain of relationships. The word

respect is translated from the Sanskrit word which means “non-violence” or “no-violence”.

Contained within this proscription is the prescription to “do only good”.

Standards

This third cardinal axiom defines the criteria for success – both for the expression of the

core truth of an individual or business and also as guides to creating and maintaining vital

relationships. Standards set the bar for evaluating success in all spheres of a business. They also

help eliminate the unwanted, or impure elements that would adulterate the quality of a business’s

core truth and the vitality of its relationships. Standards also provide strategic guidelines for

compliance, accounting, quality control, design of policies, design of products and overall

management and planning. The word standards comes from the Sanskrit word for “cleanliness”,

“purity”, or “refinement”, which implies the criteria by which one can achieve such a state.

Effort

The last cardinal value is effort or the disciplined application of energy, probably the

principle most familiar to business along with standards. Yet, here effort as a value is not just the

prosaic work of getting things done, but incorporates a range of action including: work;

efficiency; responsibility; accountability; sacrifice; discipline; structure; the ardour of simplicity;

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and economy (more from less or leveraged effort). The word effort is derived from the Sanskrit

word which literally translated means “the fire of austerity”. In this we have an idea of the deeper

connotation of effort as requiring “great focus”, “discipline” and “precision” which when applied

within the deep approach described above gives something called “effortless effort”, or a

harmonic resonance of effort that results in exponential outcomes from minimal effort.

Four Values in Harmony

When all four of the above values are present in a system we can observe an elegance,

efficiency and symmetry as much as one can observe the same in well designed architecture or a

masterfully executed oil painting. This state of symmetry is achieved through the interaction of

these four values, where one supports and refines the other, which in turn works in compliment

with the other two. Brief examples include:

Truth & Respect

The authentic and impeccable expression of a company’s core truth deepens and supports

it’s relations with its customers and stakeholders;

Taking care to do most good in its relationships means that a company seeks to provide

best of class products and services in a manner that directly addresses the needs, wants and

interests of its customers. In a broad or deep application this would extend further out to anyone

who would be touched by the company’s efforts.

Standards & Effort

Clearly defined standards and criteria set the benchmark for efforts and provide a means

to evaluate success;

Focused, disciplined efforts create the high quality outcomes defined by standards; in

striving for simplicity, economy and precision, effort helps achieve design criteria laid out in

standards.

Truth & Effort

A company’s essential purpose and function, its authentic identity guides its efforts,

ensuring that all undertakings are in support of the realisation of its essential aims;

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Its effort – its discipline, focus and expense of energy support and deliver the outcomes it

needs to thrive in the market place and conduct fruitful relationships.

Truth & Standards

A company’s core truth is realised in iterative, on-going cycles of refinement and

improvement; its truth helps define the criteria of its success.

A company’s standards eliminate the unwanted, refine its existence and improve its self-

worth and market worth. A company relationships are enhanced when it expresses itself with

clarity in all its dealings.

Respect & Standards

Business happens in the domain of relationship which are maintained and nurtured by

values and high standards;

Standards set boundaries and rules of engagement, they define what is expected both

from the company and customer; they offer guidelines on mutual benefit and improvement.

Respect & Effort

Relationships and effort go hand in hand. Relationships take investment and require

diligence and care if they are to be vital, honest and rewarding;

The quality and condition of relationships define what is needed to make a company

successful. Reflecting on the condition of a company’s relationships with itself and its

profitability (narrow); the larger market and the society it lives in (broad); and its relation with

the world, the environment, and the universe (deep); give a company a chance to improve and

refine its relationships according to its perspective and approach.

Deep application of the Four Values

To address the complexities of wicked and super-wicked problems we can use the four

values above to define and refine our approach to business. Using the inspiration of this wisdom

framework we can reflect on the condition of our business and its relationship to the world

around it. By expanding our frame of reference away from the short-term of the narrow approach

to the long-term all-encompassing deep approach we can, using these four values, take strategic

steps toward the creation of “thick value” and “shared value”. In fact the premise of Cranmore

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especially the finance sector. From falsified financial statements (Enron, WorldCom, Xerox,

Global Crossing), to corporate looting (Adelphia, Bernie Ebbers, WorldCom), to insider trading

(Martha Stewart, Sam Waksal, Galleon Group, One.Tel) the business press is legion with reports

of companies who fail to follow, even superficially, the four values of truth, respect, standards

& effort as described above.

To remedy the problem, business has to be seen to move from the narrow towards the

broad and beyond. Redefining business as a genuine citizen, with all the concerns of a moral and

ethical individual will help redeem business and revitalise capitalism in new interdependent

synergy with society at large. We will now look at a few companies that by degrees, have begun

the process of setting themselves as progressive examples.

Truth – from narrow to the broad and deep

Creating “thick value” begins with vital companies that are dependent on a vital society.

Broad and deep expressions of truth as a cardinal value begin with the aim of providing useful

products and services, in a way that accounts for the costs of externalities. This means no longer

accepting that the world is able to provide infinite high-resource dependent intensity growth

which has dominated capitalism since the industrial era. Businesses of the present can no longer

justify living off the resources of future generations. Hart & Milstein define a sustainable

enterprise as one that “contributes to sustainable development by delivering simultaneously

economic, social, and environmental benefits” to a triple bottom line. (Hart & Milstein)

Google is an example of a company that seeks to authentically achieve its core purpose –

which it describes as a mission to organise the world’s information in useful, universally

accessible ways. (Google Company) Thus to some extent Google is thinking broad in regards to

the delivery of information. (Lyer & Davenport)

Apple’s Steve Jobs defined the company’s truth as the aim of bettering the world through

technology. His approach lay more in the broad especially in his approach to the creation of

quality products that met the needs of customers, but also in this ability to think long-term,

beyond decades to centuries. (Yoffi & Slind)

Taking a broad approach to defining a company’s core truth requires an

acknowledgement of the importance of relationships with the broadest scope of stakeholders.

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Respect – from narrow to the broad and deep

Steve Jobs sought to define the core truth of Apple as “cultural force”. (Yoffi & Slind)

Implicit in this is his ability to take a broad approach in expressing the truth of Apple in its

relationships (respect). What is clear about Apple’s success is that it begins with a definition of

its truth with the respect/relationship principle in mind.

Companies that operate with a narrow approach to respect have little concern for

relationships that don’t have an immediate impact on profit. This “thin value” approach defines

worthwhile relations largely to customers and suppliers. Not only does this limit their scope for

identifying market opportunity, but when things go wrong as in the case of BP and Deepwater

Horizon, not taking a broad approach can be costly in a wide variety of unpredictable ways.

Companies that take a broad approach to respect tend to think pre-emptively, to anticipate

what may go wrong can in fact go wrong. This frame of mind is best described as empathetic. It

allows the company to think of the needs of society, and in taking that broad approach it is better

positioned to respond to crisis and uncertainty. Unlike BP which was perceived to be slow to

react and dismissive of collective concerns, a broad approach company will be proactive in

addressing the real concerns of others.

Policies like CSV, CSR, CO2 reduction and others are practical examples of how

companies act broadly in regards to respect. But there are other ways. For example, Google

projects genuine passion to its customers, and seeks to emotionally connect with customers at a

deep level. (Sisodia, Wolfe & Sheth) Google earns a larger share of customers’ wallets as a

result of earning a larger share of customers’ hearts by genuinely approaching them from a broad

perspective. (Ibid) Google views its suppliers as ‘true partners’ and encourages them to

collaborate with Google in moving forward successfully. (Ibid) Apple also take a broad

approach to partnering with its suppliers and thus enjoys stable relationships that help them

respond to their customers. (Thomke & Feinberg)

Another example of a broad approach is Southwest Airlines’ strong partnership

relationship program, where all stakeholder groups are treated as valued partners. None of

Southwest’s airline competitors have this partnership view or enjoy its consistent year-on-year

profitability. (Sisodia, Wolfe & Sheth)

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Going Deep

Taking a deep approach to business requires a more expansive, if you will, spiritual-like

outlook that esteems the intrinsic worth of people and nature. It begins by viewing one’s role in

the world as a part of a larger whole, a whole that expands outward to include everything – the

universe itself. This helps those taking a deep approach to encompass the largest possible circle

of stakeholders and more. It begins by recognising that business is not operating in vacuum, in

isolation or without eventual consequences – good or bad. The deep approach is mindful of its

“footprint” and so does not seek to eliminate or hide the results of its actions, rather it seeks to

take the pains (fire) to make the effort to achieve an elegance of execution. It recognises that

such a refining (standards) approach make it a more effective, useful company. On this it banks

it real net-worth and future value. It recognises that as a harmonious vital part of a natural larger

whole, that the nature of things, the natural law, will carry it, support it and sustain it.

Such a deep form of respect can be called “eco-effectiveness” which leads human

industry to be “regenerative rather than depletive”. (McDonough & Braungart) Eco-

effectiveness involves the design of things that celebrate interdependence with other living

systems, a fundamental point of view for those taking the deep approach. (McDonough&

Braungart) From an industrial-design perspective, it means products that work within “cradle-to-

cradle” life-cycles rather than cradle-to-grave ones. (McDonough& Braungart)

Deep respect also expands the time-space frame of reference by asking questions like:

does the product or service ‘do most good’ for the full cycle of its existence?; does it provide

benefit far into the future?; does its use increase the quality of being for everyone?; and lastly

does it create value in a ‘least harm way? If it does, then you have ‘thick value’.

The deep approach creates relationships that have “thick value”, are long-lasting, and

cannot easily be replicated, or mimicked. Deep way relationships add deep value to business

where stakeholders take an active interest in supporting and enhancing the business along with

its functions, products and services and as a result establishing well-being for all.

Standa

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19

Going deep

Standards are both expansive and precise in their concern for lasting quality for the

greatest good (universal) in the deep approach. Deep standards aim at achieving the exceptional.

They start with great concern for realising the pure essential in any undertaking and with the fire

of effort provide continual cycles of on-going refinement and improvement.

Deep standards result in a different type and quality of value – one that is lasting and

authentic. Possibly the best current example of deep standards is that of cradle-to-cradle design

which starts with the dual aim of nothing impure and everything reusable, thus eliminating the

problem of obsolescence. Setting deep standards, cradle-to-cradle results in what Stuart Hart

describes as “leapfrog innovation, exploration, disruptive innovation, creative destruction and

corporate imagination”. (Hart, Stuart) The deep approach to standards promises the eventual

“rethinking and redesign of industry’s future”. (Ibid) Another example of a radical rethinking

that results in exponential efficiencies and sustainable systems is the early efforts of those

working in the bio-mimicry field such as Janine Benyus, Michael Pawlyn, William McDonough

and Michael Braungart. (Treehugger) Deep standards are, arguably. the basis for creation of

“thick value” and the realisation of sustainable development.

Effort – from narrow to the broad and deep

The fourth cardinal value is the focused application of effort and energy. The expense of

energy is ideally defined by: the aim of expressing and realising the company’s essential purpose

(truth); to achieve lasting, profitable, harmonious relationships (respect); guided by high

standards that catalyse on-going cycles of improvement and refinement; through the disciplined

and economising expenditure of energy.

A narrow approach to effort is aimed at the bare minimum exchange between the

company and its markets to achieve short-term profitability. There is a concern to economise at

the expense of standards and relationships, and a primary concern with the analysis of

efficiencies related to productivity and outputs. In short – industrial age capital rationale.

A broad approach to effort is, by degrees, shaped by the other three values. While the

concern for efficiencies remains, it is enriched by the concern for what one could call “right

effort” or the expense of energy that encompasses a more holistic outlook. The broad approach

20

would therefore not be content with production efficiencies that produce cars with faulty breaks,

baby prams that harm the baby or products that may not harm but don’t satisfy. The subject of

effort, work and economising is along with standards common currency in business circles.

Going deep

Deep effort achieves maximum well-being with minimal input. The deep approach to

effort, according to wisdom thinking, is that a company achieves an eventual leverage of effort

that delivers a great deal more than the energy expended. This is what is called “effortless effort”.

Effortless effort can be likened to the results achieved with harmonic resonance, when energy or

effort is rhythmically added to a system in accord with system needs which produces an increase

of gains in energy. We did not identify any examples of companies that have achieved this holy

grail of effort, although we did find examples of companies working their way through the broad

and towards the effortless effort of the deep.

Google and Apple incorporate the discipline (effort) of seeking to redefine their industry,

in a manner that is unorthodox, painstaking and strategically long-term (effort). (Haque, Umair)

One example of Google’s broad approach to effort is the discipline of continual product

improvement in response to stakeholder feedback. This system is so intrinsic to Google culture

that it is now known as “Google’s innovative eco-system”. (Lyer & Davenport)

Apple may be a company that takes a broad approach to effort which borders on the deep.

An example of this is Apple’s self-restraint, which Paul Nunes and Tim Breene remark is an

approach that too few other companies grasp as an essential element of success. This restraint

means that Apple takes an austere approach to their product development, both in terms of

design that is functional, minimal and elegant, as well taking care to not introduce products

prematurely before they achieve Apple standards. Apple refers to this design strategy as

achieving “threshold competence” before scaling. (Nunes & Breene) It seems that Apple has

grasped yet another wisdom idea which is that for growth to be sustainable it must, by degrees,

be gradual (an idea outside of the scope of this paper). In any case Apple recognises that

“slowing down” is a important part of business discipline (effort). This gradual disciplined broad

approach is one of the “game changing ways in which Apple has set out to redesign its industry”.

(Yoffi & Slind)

21

A Case Study that demonstrates all Four Values

The foregoing highlights the application of the various values by Apple, Google and

Southwest. The premise of Cranmore Foundation is that companies that apply all four values as

part of holistic strategy should be demonstratively successful and sustainable, to the extent that

the four values are present and mutually supportive. What follows is the example of Whole

Foods, which appears to consciously apply these four values as part of their holistic strategy.

[Note: we do not make any claim that Whole Foods has consciously applied the model or

approach outlined in this paper, although we can conjecture that they may have been inspired at

least in part by wisdom tradition ideas].

Whole Foods articulates their core truth in their motto: “Whole Food, Whole People,

Whole Planet”. This statement identifies their essential purpose and function (truth); their

concern for their relationships and the contribution they aim to make to them; and notably their

broad (and potentially deep) approach to what they do. As such they begin with a broad

perspective which Sisodia, Wolfe and Sheth define as “a vision beyond being just a food retailer”.

Whole Foods demonstrates that their motto is not just a window-dressing mission

statement through their constant measurement of: customer satisfaction (respect); team member

excellence (standards) and satisfaction (respect); and larger extended community satisfaction

and support (respect). They affirm their core truth and build the basis for good employee

relations by hiring “foodies”. (Sisodia, Wolfe & Sheth) Their expressed aim to be an example of

“excellence for food retailers” (Ibid) articulates the high standards that define their company.

Further in their “‘Declaration of Interdependence’ (posted in every store and office) the company

acknowledges the idea that stakeholder groups constitute a family whose members depend on

one another” (respect) (Ibid). In aiming for this, the declaration acknowledges that it’s a

“dynamic process” that requires participation, …communication (respect), listening

compassionately, thinking carefully (standards) and acting with integrity (truth).

Whole Foods is committed to provide goods and services that improve its customer’s

lives (standards & respect); to provide jobs and meaningful work to employees (effort &

respect); and to create wealth and profits to its investors (respect, truth, standards & effort)

(Ibid) The company aims to meet all these concerns in a balanced manner through thoughtful

diligent effort.

22

The company stays aligned to its core truth by keeping all four values alive and dynamic.

But does all this ‘happy-talk’ pay off? Or is it just ‘feel-good’? The numbers tell the real story of

sustainable prosperity delivered by Whole Foods.

Over the last ten years Whole Foods has proven to be a better bet for investors than any

of the five biggest grocers: Wal-Mart, Kroger, Albertsons, Safeway and Costco. Whole Foods

has returned 185% over the past three years, 400% over the past five (whereas the S&P 500 rose

by only 13%), and 921% over the last ten years. From December 1995 to June 2006 Whole

Foods returned over 1800%. By comparison “Wal-Mart has not added a nickel’s worth of value

to shareholder’s wealth in the past six years” [as at Feb 2007]. (Sisodia, Wolfe & Sheth)

Whole Foods demonstrates that a broad approach to value-creation pays off. The

company is a good example, but not the only one (Apple, Southwest Airlines, Costco, Commerce

Bank, etc.) of companies that are taking a different approach to sustainable value creation.

The question arises as to how companies working to the “thin value” model can “cross

over to other side”? In the pen-ultimate section of this paper, we will explore the possibilities for

applying these values to an existing company. How could a company use these four values as a

guide to achieve greater and sustainable profitability?

Values Creating Value – A hypothetical application

Meet Alpha Capital. Alpha is in the business of providing banking and financing

services to small and mid-cap businesses in the USA and Europe. Alpha addresses a part of the

market that is historically underserviced by big finance. It provides the same quality of

consultative advice, services and a variety of financing products that are geared to the unique

requirements of individual clients. The company is growing and its partners are thriving.

Alpha’s Truth

Alpha prides itself on “saying what they do and doing what they say”. In other words

they present themselves as straight-talking, if not blunt in their approach to dealing with

customers. In doing so, Alpha thinks that customers will value this candid approach and will

understand that such frankness is an expression of their respect for their relationships.

Alpha’s Respect

23

In this area Alpha is typical of the banking industry which thinks of themselves as the

“experts” whereas their clients are “less experienced” or “inexperienced” and thus do not

understand the variety of deal structures and their nuanced differences and complexities.

Assessing by reference to the four values model, it is therefore no surprise to learn that

Alpha scores low on the customer/stakeholder satisfaction scorecard. Their dissatisfaction is

taken as “proof” of their lack of financial sophistication and thus Alpha is slow to learn from its

mistakes, such as when clients turn bitter and litigious. Starting out with a lack of respect for

their clients gives them a patronising air that does little to solve the problem of mutually low

respect between Alpha (truth) and its clients (respect/relationships). This lack of respect is

commonly known to be endemic in the banking industry.

Alpha’s internal respect between management and employees is predictably weak, and

there are even considerable differences between managers about the style of approach to clients

and staff, where morale fluctuates in response to a mixture of strong handed management style

and blandishments of bonuses and increased income possibilities. The unspoken opinion of rank

and file staff is that they are undervalued, and that the company “lacks compassion and empathy”.

Alpha’s Standards

In contrast to their respect score card, Alpha do quite well with standards, although the

application is generally confined to a narrow approach.

Alpha takes great concern in meeting high standards of execution with client financial

transactions. It also encourages a strong culture of continuous improvement and refinement in

execution and follow through, which along with a diverse product offering is a principle draw for

new clients.

Alpha is rigorous in: assessing its success in delivering “good deals” to clients; in

evaluating the precision of their products and deals; on its deal success-rate; and its internal

profitability.

Alpha’s Effort

Like many “thin value” model businesses, Alpha excels in this area. In areas like

discipline; economising; reduction of unwanted deals, staff or clients; it is successful. Alpha

cultivates a work-first approach to life for its employees, demands much from them, and is not

24

shy to push them in manner sometimes notably disrespectful. “It’s the culture” so its tolerated

and even exulted as a symptom of a “winners-world”.

And in terms of execution Alpha is a winner, again in a narrow sense. The company has a

well-developed, strongly imbedded deal methodology. Precision is the name of the game, both in

terms of detail and execution. In this the company tends to place methods and outcome before

relationships and so has sometimes earned a reputation for being “heavy-handed” and

intimidating. Again, management excuses this as the result of having to do business with the

“uninitiated” in the small and mid-cap markets. Nevertheless, Alpha endures because it delivers

hard sought financing to “needy markets” thanks its strong effort and methodology.

Four Values Recommendations

It is evident from the above that Alpha’s area of weakness and opportunity is with

relationships. If the company could extend its perception to encompass a broader approach, it

would likely find new markets and new opportunities. Further it could achieve its stated long-

term goal of being the “market leader who is setting new standards for a new model of banking

that services the little guy”.

Alpha could redesign its approach to clients along the lines of Whole Foods by seeking to

engage the client as a respected equal. It could potentially broaden its market reach by applying

the same strict standards of execution, to ensuring that customers are satisfied, not just with the

deal but with the experience. In doing so Alpha could muster through referral an extended

community of small and mid-sized businesses to their offering. To do this, Alpha could seek to

engage their clients in a new broad-based model of engagement, assessing satisfaction with

questionnaires and interviews.

Currently there is relatively little competition from companies modelled like Alpha, that

target primarily small and mid-cap companies. However, it is likely that other companies will

enter Alpha’s market. Assuming that they can provide a similar quality of products and services,

they could garner Alpha’s market share by taking a four values approach to relationship building.

This is potentially a threat to Alpha, one that they currently dismiss from their “market leader”

point of view.

25

The above comments and suggestions for Alpha are based on a broader application of the

four values, which could arguably help Alpha create sustainable “thick value” success for itself

and its clients.

Summary of paper and concluding comments

Endemic super-wicked problems have created the basis for current ambiguity and crises.

The challenges are unprecedented and require a new quality of thinking that can give context and

perspective to a multiplicity of uncertainties. This paper argues that the logical and discursive

approach is inadequate to solve these problems. As such business thinkers are exploring new

sources of inspiration that can help us collectively reframe our notions of prosperity, away from

a “thin value” model to a “thick value” model that is more inclusive and sustainable. New

sources of inspiration include aesthetics that improve and broaden customer’s experience,

corporate social responsibility programs that respond to the demands for business to be more

socially harmonious, and the emergence of how spirituality and religion can contribute to a better

more enlightened way of doing business.

At the further reaches of these trends is the work of Cranmore Foundation which is

researching wisdom traditions to identify universal principles that can be crafted into design

principles for use in business.

Wisdom traditions may provide a new perspective that gives business a holistic outlook

and context for how to meet current challenges and turn them into market opportunities.

Achieving this is however, not a simple task. “This requires a step-by-step process of identifying,

translating, reformulating and realising the inspiration of the wisdom traditions for practical

application in the daily activities of society and business. Each step in this process is essential

and adds its own value.” (Cranmore) It requires the contribution of: culture-bearers who are

living the tradition; scholars who can give historical and intellectual perspective on these

traditions; ‘rhapsodic thinkers’ who can reformulate universal principles into a language

understandable to those outside of the original culture; designers who can craft these principles

into design principles for practical application in business; and lastly business leaders who are

inspired to apply them for the creation of a new quality of “thick value-based” business. (Ibid)

26

This paper has presented the early by-product of this five-step process as a model that

identifies what is required to create vital, sustainable companies. Despite the fact that the four

values model is still being researched, tested and developed, it does demonstrate the potential

useful applicability of ancient wisdom in helping give us strategic context by introducing new

criteria, that gives new focus and prompts us to fundamentally rethink the viability of existing

models. Wisdom traditions are a potential resource and provide inspiration for empowering our

ability to respond to crises and create viable, sustainable alternatives.

Appendix A – The Dharma Model

The four values model outlined in this paper has its origin in the Puranic literatures of

India. Specifically the model appears in the Bhagavat Purana which describes them as the four

essential criteria for the creation and support of Dharma.

Dharma is a Sanskrit word that is taken from the root word, dhri, which means “to

sustain”, “to uphold”, “to preserve” and “to prosper”. It also refers to “natural law” or the

“natural order of things”. In modern vernacular it is often translated as “religion” or “duty”. “The

etymology of dhri can be traced back to the Rig Veda to the root word rta, which means

“nature’s way” and the implicit “order in nature”. Rta resembles the Chinese concept of Tao and

the Heraclitan, Stoic or Christian conceptions of the logos. Dharma is thus thought of as the state

of acting in harmony with all existence. According to the Isopanisad, when one achieves such a

state, they achieve a durable condition that sustains and preserves. (Swami, AC Bhaktivedanta)

T

(truth), A

T

and so on

A

‘a’ befor

explicit p

recognise

admoniti

dealing w

S

by which

realising

T

Tapasya

the idea o

Tapasya

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The four valu

Ahimsa (resp

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Ahimsa is a c

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Sauca means

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achieve one

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to “do no ha

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Sauca also

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(Cranmore

lated and int

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terpreted from

and Tapasya

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hout blemish

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In simple ter

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nal, true, exi

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ch means “v

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ends by disc

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lesomeness.

for eliminat

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the root word

ieve a higher

reducing thi

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which one e

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violence”. Pl

msa has two

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The word im

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27

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As

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28

The concepts of narrow, broad and deep resonate with the Vedic idea of the gunas, a

Sanskrit word which means “modes of nature”, “conditions of nature”, “qualitative energy”, and

“qualitative states of being”. In Sanskrit the three modes are called sattva, rajas and tamas. They

are the primary colours of “qualitative influence” that mix together and vie with one another to

create the full colour spectrum of possible material condition and experience.

Sattva is derived from the root word sat, again meaning that which is real, lasting and

true. Sattva corresponds to the deep approach, because it represents harmony, goodness,

nurturing, clarity and durability. Sattvic qualities are conducive to sustainable systems. The

iconography of sattva is related to the deity of Vishnu who sustains and maintains everything.

Sattva is the state of harmonious equilibrium.

Rajas is the mode of action, doing, creating and giving life. Its iconography is the deity

Brahma who creates the universe. Rajas is progressive but unstable, energetic but changeable,

expansive but prone to degradation. Rajas relates to the early stages of a broad approach. Mixed

with Sattva, Rajas creates the conditions related to a genuine broad approach.

Tamas relates to the narrow approach because of its innate tendency toward entropy and

reduction. Tamas is the mode of reduction, elimination and destruction. Its iconography is the

deity of Shiva who is responsible for destroying the universe at the end of time. Tamas is meagre,

limiting, and destructive. Its positive purpose is to clear away the old to make way for the new.

The above seven universal principles are found throughout the Vedic and Puranic

literatures and have resonance with Chinese thinking, especially that of Tao.

Acknowledgements

I would like to thank Prof Silverman for giving me the latitude to work with Cranmore

Foundation to write this paper. I would like to thank Cranmore Foundation for providing

research material on the subject. Specifically I want to acknowledge Associate Prof Bert Mulder

of the University of Den Haag for agreeing to advise me and to Dr Michael Geary of Cranmore

Foundation who provided lecture time, mentoring and editing assistance with this paper.

29

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