I've been reading Conscious Capitalism lately. Written by the founders of Whole Foods and the Conscious Capitalism movement, it discusses the idea that paying attention to what's important for the greater good has the opportunity to impact all organizational stakeholders. It can be summed up in the following quote,
"Much of today’s animosity toward capitalism stems from a misconception that we need to share all resources fairly and equitably. But the reality is that by artfully combining resources, labor, and innovation, wealth can be greatly expanded. " Mackey, John; Sisodia, Rajendra (2012-12-25). Conscious Capitalism: Liberating the Heroic Spirit of Business (Kindle Locations 476-477). Harvard Business Review Press. Kindle Edition.
Reading this, most people would assume that the concept of 'wealth' as the typical definition, "an abundance of valuable possessions or money." But by choosing a different definition of the term wealth, this concept becomes even more powerful. Think about this concept with the success being defined as 'a plentiful supply of a particular desirable thing.'
With that concept, success metrics of a good CSR program do include profit, but it also has the potential to be broken down further with metrics including employee engagement & retention, customer loyalty, brand goodwill, community impact. The tie to organizational mission becomes even stronger.
We know that community impact and meaningful work is important to Millenials, and I perceive it to be important to those around me, but I wonder if that's an accurate perception. So now's my time to ask: is it important to you?
Take my quick poll, or share your comments below. What do you think about the concept of Conscious Capitalism?