Conscious Capitalism is a business framework and movement that is picking up steam outside and around the world . Chapters of business people promoting this idea are now alive and well in 18 U . S . cities and 8 more abroad . A magazine called Conscious Company is now on shelves in 49 of the 50 states ( including AK ). There are Conscious Capitalism chapters in bastions of liberalism such as the San Francisco Bay Area , but the movement has also been embraced by six Chambers of Commerce in Michigan , some of them in beet red parts of the state .
So what is Conscious Capitalism and why should Alaskan businesses care as they cope with an increasingly challenging environment ? Conscious Capitalism starts with the belief that business is the most powerful organized force for human benefit in the world . It identifies the purpose that capitalism serves in society as the advancement of human thriving . Business is the single greatest organizer of human effort on the planet – by far . For business to promote human thriving , it must be built on the most positive and idealistic factors motivating human beings : the need for purpose and meaning , the capacity for cooperation , concern for others and the drive for personal growth .
According to Conscious Capitalism businesses perform best when they focus on four mutually reinforcing disciplines :
1 ) Higher Purpose –” What are the two most important days of your life ?” This is a question for reflection presented by Whole Foods founder John Mackey and Raj Sisodia in
8 January 2017
Conscious Capitalism By Dr . Rashmi Prasad and Nathan Havey
their book on Conscious Capitalism . “ The day I was born ” is a universal answer for one of the two days . Responses vary for the second important day , but for Mackey and Sisodia it is the day you discover your higher purpose . This is the answer to the “ why ?” question that many of us manage to evade for long periods of our life .
What does an organization driven by higher purpose look like ? It could look like Apple Corporation , driven to enhance the capabilities of intelligent people with intelligent tools . It could look like Whole Foods , who describe themselves as not having a retail mission , but as “ missionaries who retail ”.
For business to promote human thriving , it must be built on the most positive and idealistic factors motivating human beings : the need for purpose and meaning , the capacity for cooperation , concern for others and the drive for personal growth .
Gallup surveys report that about one-third of employees feel “ engaged ” in their work . Focusing on and demonstrating a profound commitment to a specific purpose beyond profit is a powerful way to recruit , retain and engage employees , customers , and other stakeholders critical to the success of the company .
Alaska has also given birth to purpose-driven organizations such as the Alaska Housing Finance Corporation , whose mission is no less than “ safe , affordable housing for all Alaskans .” Alaska ’ s more challenging conditions encourage the assumption of greater responsibility and , perhaps , the pursuit of higher purpose . Difficult times also force us to focus on the “ why ?” question that we may be able to evade at other times . The University of Alaska Anchorage is in the midst of focusing its purposes . Over 1500 staff , students and faculty at UAA recently responded to a Core Values survey by indicating a strong preference for a focus on “ student success ” and “ open access ” to higher education .
2 ) Stakeholder Integration – In the film , “ It ’ s a Wonderful Life ” the character Clarence reflects to George Bailey : “ Strange , isn ’ t it ? Each man ’ s life touches so many other lives . When he isn ’ t around he leaves an awful hole , doesn ’ t he ?” For John Mackey , a moment of “ awakening ” about the meaning