Conceptualizing Conscious Capitalism

I spent the past two days (May 28 – 29) at Bentley University outside of Boston attending the first Conceptualizing Conscious Capitalism conference, which is intended to be a precursor to the Conscious Capitalism Institute. The event, produced by Professors Raj Sisodia of Bentley (co-author of Firms of Endearment: How World-Class Companies Profit from Passion & Purpose) and Ed Freeman of University of Virginia (“author” of the stakeholder model of business management), with Shubrho Sen, serial entrepreneur, outsourcing pioneer, and visiting professor of marketing at Bentley. In addition to providing an enlightening survey of work being done in diverse academic disciplines at universities throughout the country and around the world, the event convened an inspiring and energized group of academics and others dedicated to transforming business and business education, and making meaningful progress towards these ends. Among the highlights were inspiring presentations by pioneers in the practice of Conscious Business Roy Spence, Chairman and CEO of GSD&M IdeaCity and co-author of It’s Not What You Sell, It’s What You Stand For, and John Mackey, Chairman and CEO of Whole Foods Market, author of the new audiobook, Passion & Purpose: The Power of Conscious Capitalism, and co-founder of Conscious Capitalism, Inc (aka FLOW), and a conversation between John and Peter Senge, author of The Fifth Discipline (among other books) and founder of the Society for Organizational Learning. In addition to exploring the implications of applying consciousness to business in general, marketing, leadership, and other aspects of business in particular, Raj began the conference be setting outlining the frame of Conscious Business, which John powerfully articulated in his presentation. The core principles of Conscious Business are:

1. Purpose: Finding and focusing on the higher purpose of the business.
2. Stakeholder Orientation: focusing on the health of the overall system, rather than singularly on the return on shareholder investment.
3. Servant Leadership: through which the management plays a role of steward to the company’s deeper purpose and stakeholders, focusing on fostering a harmony of interests.

You can watch a brief video of John talking about Conscious Business on the Sounds True web site and you can order Passion and Purpose from the FLOW website, where you can also order Be the Solution: How Entrepreneurs and Conscious Capitalists Can Solve All the World’s Problems, by FLOW co-founder Michael Strong, which also features a chapter by John on Conscious Capitalism. Earlier this month, Conscious Capitalism, Inc. launched the Conscious Business™ Alliance and began design and development for the 2009 Catalyzing Conscious Capitalism event in October in Austin. Both the CBA and CCC event are by invitation, so please let me know if you are interested. I am honored to serve as Executive Director of Conscious Capitalism, Inc and on the Governing Circle of the Conscious Business Alliance. In both capacities, I encounter people everyday who are applying the principles of Conscious Business, studying, and promoting their positive impact, to cultivate and advance new ways of thinking about and practice “the art of business.” While we certainly have a long way to go before this new approach is predominant, the journey of a thousand miles is definitely well under way. Here's to the movement! Yours in Working for Good, Jeff www.workingforgood.com