Key principles of conscious capitalism

Key principles of conscious capitalism, according to John Mackey

Summary

The concept of Conscious Capitalism has been popularized by John Mackey, founder and co-CEO of Whole Foods, in his influential book "Conscious Capitalism: Liberating the Heroic Spirit of Business."

In the process of analyzing the trailblazing businesses that have managed to become incredibly successful while making the world a better place, he pins down the key principles of Conscious Capitalism under four pillars: higher purpose, stakeholder orientation, conscious leadership, and conscious culture.

In short, these pillars set out the basic principles of what Conscious Capitalism aims to achieve: namely, a greater purpose than profits, value creation for all business stakeholders (from investors to communities), socially responsible and inspirational leadership, and a company atmosphere that benefits and motivates everyone. Throughout his analysis, the forward-thinking CEO names several well-known companies, from Costco to The Container Store, have successfully maximized their profits and stock growth while upholding conscious capitalist values.

The bottom line is that being socially responsible and environmentally conscious not only feels good — it pays off, too! So, it doesn't really come as a surprise that more and more businesses are rethinking their business philosophy to join the trend and solidify their positive impact on the world.

Top Conscious Capitalism companies set on making an impact

With more Conscious Leaders realizing that capitalism can be a driving force of both economic and social good, businesses are starting to prove to the world that a higher purpose is within reach (and that capitalism doesn't have to be synonymous with ruthless exploitation, either).

Concluding note: cause marketing and beyond

From marketing perspective, this new concept of becoming conscious capitalists can be viewed as more extended version of marketing with social cause (it is known as "cause marketing.") For instance, if a leader of a company has a concern for greener fashion making, he/she can promote ecoprint textiles, for instance.

But to be conscious eventually is not just about marketing or getting more clicks at your IG, for instance. It is more about to care and giving back to our communities, to this Earth and also to God almighty.

To mention a few large companies who are committed to conscious capitalism, include: Starbuck, Google etc.

In National Geographic Magazine, Indonesian edition in April 2022, there is a story about Boyan Slat, 27, a founder of non-profit "Ocean Cleanup" from Netherland. He is one of the most ambitious river cleaner. When he is in younger age, he got a great plan to sweep plastics and other garbage at Great Pacific Garbage Patch. In 2019, he starts to use solar-powered barges and announces plan to cleanup 1000 worst rivers in the world within 5 years.

To quote an old wisdom saying: "the sky is the limit," perhaps it is better to advise to those young leaders: "If you have God as your friend and has pure consciousness and sincere heart, even the sky is not a limit."

Are there other companies and organizations willing to follow those market leaders?

God bless you all.

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Source:

(1) Responsible gamechangers. URL: https://bigimpacthq.com/blog/conscious-capitalism-companies/

(2) National Geographic Magazine, Indonesia edition, April 2022.