Want to maximize value and prosperity for everyone who touches your business? Consider Conscious Capitalism. John Mackey, CEO of Whole Foods Market, explains what Conscious Capitalism is in this video.
Four principles of Conscious Capitalism:
- PURPOSE – “Business has the potential to have a higher purpose that goes beyond merely maximizing profits and shareholder value.”
- STAKEHOLDERS – “There are other stakeholders besides the investors that matter. The customers, the employees, the suppliers, the community, and the environment: these are all interdependent on one another. It is the job of business to create value for all of those interdependent stakeholders.”
- CONSCIOUS LEADERSHIP – “Leadership is conscious leadership or servant leadership that puts the values and the mission of the business first ahead of their own personal interests.”
- CONSCIOUS CULTURE – “You have to create a culture in the organization that supports the purpose, that supports the stakeholder principle, and nurtures the leadership.”