A new movement is picking up speed and I think some of us were part of it before it had a name.
I first learned the term “conscious capitalism” upon discovery of this enlightening talk from Whole Foods CEO, John Mackey. I constantly hear use of the word “capitalism” with negative connotation and this can be a misguided way of thinking. The increasingly widespread social and environmental betterment movements have sparked conscious capitalism and a new way to look at how we run our businesses.
Mackey breaks down conscious capitalism with 4 guiding principles:
- A higher purpose beyond maximizing profits
- Recognition of all stakeholders, including customers, vendors, the community and the environment
- Leadership that puts the values and mission of the business before personal interests
- A whole business culture and sense of purpose that supports conscious capitalism
Reviewing these principles opened our eyes over here at Boothster HQ. Many of our business practices are in line with the conscious capitalism principles and we certainly have room for improvement. A conscious company is never perfect.
How are you adhering to these principles in your business? What are the strengths or/and flaws you find with conscious capitalism? Can you see a future where the majority of business is guided by these principles?
Learn more about conscious capitalism here.
Green trade show displays by Boothster