Business can and should be done with a higher socially-beneficial purpose in mind, not just with a view to maximizing profits. A compelling sense of purpose creates a greater degree of engagement for all stakeholders and enhances organisational energy.
Conscious businesses are explicitly managed for the simultaneous benefit of all their stakeholders, including customers, team members, investors, suppliers, communities and the environment. A conscious business aligns the interests of its stakeholders, seeking solutions to benefit all.
Driven primarily by service to the organisation’s purpose and stakeholders rather than power or money, conscious leaders lead by mentoring, motivating, developing and inspiring people, not through commandand-control or the use of “carrot and stick” incentives.
Conscious cultures are tangible to their stakeholders as well as to outside observers; you can feel the difference when you walk into a conscious business versus one that is primarily pursuing profit. We capture this in in the acronym TACTILE: Trust, Accountability, Caring, Transparency, Integrity, Loyalty and Egalitarianism
Companies either operate from the fears of the ego or the love of the soul. — Richard Barrett
Research published in the book Firms of Endearment: How World Class Companies Profit from Passion and Purpose (Sisodia, Sheth, and Wolfe, Pearson Education 2014), found companies adhering to the principles of Conscious Capitalism outperformed the market financially over all measured time periods from 3 to 15 years.
In addition to financial wealth these companies create many other kinds of societal wealth: fulfilled employees, happy and loyal customers, innovative and profitable suppliers, thriving and environmentally healthy communities and more.
The Conscious Capitalism movement includes numerous CEOs and thought leaders globally. To fulfil its purpose and mission, and to respond to increasing demand for information, support and collaboration, Conscious Capitalism, Inc. empowers a global network of U.S. and International Chapters. The Australian Chapter currently has communities in Sydney, Melbourne, and Perth.