ment tend to correlate with the business cycle . When employees are scarce and harder to get , they are treated differently . While this cyclical behavior does not bear logical scrutiny , it is especially out of place in Alaska , which has always been a sparsely populated place , regardless of the business cycle .
4 ) Conscious Leadership – The Conscious Capitalism framework provides no single template for effective leadership , but does lay great store by a leaders ’ personal development which sets a cap for an organization . Unless leaders proactively seek out opportunities to grow personally , and continually raise that cap , their best people will also fail to grow and either exit , or worse , settle and stay . Either way , the organization will stagnate or in some cases , suffer serious ethical breaches .
The Conscious Capitalist framework is explicitly critical of the shareholder-centric leadership and management that has prevailed in the long period from the 1980s until the present , regarding it as inherently flawed due to a short-term focus and for placing profit before purpose .
The Conscious Capitalist framework must answer for the question of performance . Is it merely another normative approach waiting to be displaced by the remorseless , instrumental logic of market capitalism ? Empirical research on “ conscious companies ” indicates superior financial performance ( www . firmsofendearment . com ). However , in order for business to reach its full potential as a force supporting human thriving , the measures of performance must be reconsidered with less tyranny of short-term performance .
Of what value is the Conscious Capitalism framework for Alaskans during this critical transition period following the decline of the oil-economy ? While we encourage readers to consider this question for themselves , we humbly offer the following observations :
• Purpose driven organizations attract , develop and retain talent . As the Alaska economy experiences a down period , engaging and retaining capable people is an imperative .
• Alaska Native corporations are constantly confronted with the “ why ?” question , and may benefit from the Conscious Capitalism framework as they evolve and become a driving force of the Alaska economy .
• Alaska must assess and build its stock of social capital . The old truism that Alaska ’ s enormous geography contains a small and highly-networked business community must be challenged . Public institutions such as the University of Alaska have a considerable role to play in building the state ’ s stock of social capital .
• Leadership growth and development is critical . Small , remote populations tend to rely on a smaller pool of leaders . With many leaders transitioning to retirement , mentoring of a new generation of leaders is imperative . We encourage Alaskan leaders to participate in programs such as the College of Business and Public Policy ’ s Leadership Fellows in order to invest in the future of Alaska . Dr . Rashmi Prasad Dean , College of Business and Public Policy , University of Alaska Anchorage .
Nathan Havey Founder & CEO , Thrive Consulting Group .
10 January 2017