There is a purpose for every business but many businesses believe their only purpose is to make money. The ones that recognize that they have a higher purpose beyond just making a profit are a quarter of the way to Conscious Capitalism. When business focuses on its higher purpose, it will encourage, engage, and rejuvenate all of its stakeholders.
2 stakeholder orientation
Including all the various stakeholders in the decision making and value creation process is very important for conscious businesses. Conscious companies serve the best interests of all major and minor stakeholders as well as customers, employees, investors, partners, communities, suppliers, and even the environment. They seek to create and optimize value for their stakeholder, while recognizing that their stakeholders create and optimize value for them. Healthy and happy stakeholders lead to a healthy and happy business system, and vice versa.
3 conscious leadership
Conscious leaders concentrate on “we” instead of “me.” They motivate, inspire, are diverse, and bring out the greatest in those around them. They understand that their role in the organization is to serve and embrace its higher purpose, serve the stakeholders, and create value and inspiration instead of the more corrupt model of the organization serving the leader.
4 conscious culture
A conscious business culture creates and fosters love, care, trust, and entrepreneurial spirit amongst the stakeholders. A conscious culture embodies the values, principles, practices, and purpose of the business while creating mutual and powerful connectedness between and within all members and stakeholders. In short, it should intertwine all those things. The culture within a conscious business should be what truly brings it to life.