This document outlines the concepts of conscious capitalism as an alternative to traditional capitalism. It discusses how conscious businesses focus on purpose, stakeholders, and leadership rather than just profits. Examples are given of conscious companies like Whole Foods that have outperformed traditional businesses financially by taking a long-term, stakeholder-focused approach. The key aspects of conscious business are described as having a higher purpose beyond profits, prioritizing all stakeholders, and creating a culture of trust, caring, and integrity.
Good Evening
Corporate directors have their hands full. They must help their companies prosper, keep their shareholders happy, establish sensible CEO performance standards, and evaluate strategy and risk in a volatile business climate. How can board members keep all those balls in the air? These dilemmas have no easy answers, but Ram Charan, best-selling business author and leading expert on corporate governance, provides excellent suggestions for this formidable balancing act. Though his text sometimes digresses – interestingly – from its mission, Charan provides board members with many useful, if not entirely new, insights..
Directors face an unsettling new situation. With many businesses struggling and corporate watchdog groups demonstrating increasing bark & bite, CEOs aren’t the only ones taking the heat. Now , public attention turns also to boards and individual directors. In response, they must demonstrate maximum accountability and leadership , ‘ not just over-the-shoulder monitoring and passive approval “. How can boards do this best ? To find the answer, directors should ask 14 tough questions about their primary challenges .
If you are a corporate director or planning to become one or even if you sit on a nonprofit’s board, I believe you can gain a lot from reading this superb, savvy book.
Happy reading …..
The average Fortune 500 Company today can expect to enjoy a run of about 40 to 50 years. That may sound like a respectable life span until you learn there are large and small companies in the World that have been around for two, three and even four centuries .
What’s the secret to their longevity ?
Long-lived companies don’t focus solely upon economic activity. Instead , their goal is to build a community that grows & thrives beyond the individual contributions of each generation.
The idea may sound radical but it’s the foundation for a variety of other institutions including Churches, Universities, and even armies that were established centuries ago & continue to flourish today. These institutions & their corporate counterparts exhibit the behaviour & select characteristics of living organisms. They learn, develop an identity, build relationships with other life forms, grow and eventually die. They are, in fact, living entities.
Living companies, like all organisms, exist primarily to survive & fulfil their maximum potential. Just as work is a means to an end for you, making money by producing goods & services is a means to an end for a living company. Their end is to live.
They stay alive by
· Learning & choosing to adapt to their environment
· Creating strong identities as tightknit communities
· Paying attention to their relationships with both members & external agencies
· Controlling their growth by spending money frugally.
Understanding how a company can be a living entity is a first step towards increasing its life expectancy.
The enclosed document captures Some Impressionistic takes how a living company learns, develops a strong identity, nurtures relationships & evolves to a ripe old age.
A company is in Prime when form and function are in balance. The what and the how are in balance. Prior to Prime, function is more important than form. In other words, what we do is more important than how we do it. After Prime, how we do it is more important than what we do. That is why, after Prime, how you do something and whom you know is more important than what you do. In Prime, the what and how are in balance. In Prime, the company is both flexible and in control. Prior to Prime, the company is flexible, but not very much in control of itself. After Prime, control is very high, and the company loses flexibility. In Prime, flexibility and control are together.
However, in a company in Prime, the management is not as flexible as before Prime, because there is professional management: The tendency to depend on any single indispensable individual does not exist as it does in younger companies. On the other hand, in Prime, the organization has a strategic outlook without losing attention to detail. Furthermore, the organization does not look only at detail without losing its strategic outlook, so the company in Prime has controlled flexibility, and it doesn’t depend on any single individual.
As organizations grow and age they progress through predictable lifecycle stages. Each stage brings increased organizational complexity as well as new and unique challenges. Strategy, structure, levels of delegation, goals, rewards systems and methods of operating usually differ quite markedly in each stage of the organization lifecycle. How well or how poorly leadership addresses the challenges and demands of each stage will determine the success or failure of the organization. The following is a brief description of each of the 10 stages of the corporate lifecycle:
Good Evening
Corporate directors have their hands full. They must help their companies prosper, keep their shareholders happy, establish sensible CEO performance standards, and evaluate strategy and risk in a volatile business climate. How can board members keep all those balls in the air? These dilemmas have no easy answers, but Ram Charan, best-selling business author and leading expert on corporate governance, provides excellent suggestions for this formidable balancing act. Though his text sometimes digresses – interestingly – from its mission, Charan provides board members with many useful, if not entirely new, insights..
Directors face an unsettling new situation. With many businesses struggling and corporate watchdog groups demonstrating increasing bark & bite, CEOs aren’t the only ones taking the heat. Now , public attention turns also to boards and individual directors. In response, they must demonstrate maximum accountability and leadership , ‘ not just over-the-shoulder monitoring and passive approval “. How can boards do this best ? To find the answer, directors should ask 14 tough questions about their primary challenges .
If you are a corporate director or planning to become one or even if you sit on a nonprofit’s board, I believe you can gain a lot from reading this superb, savvy book.
Happy reading …..
The average Fortune 500 Company today can expect to enjoy a run of about 40 to 50 years. That may sound like a respectable life span until you learn there are large and small companies in the World that have been around for two, three and even four centuries .
What’s the secret to their longevity ?
Long-lived companies don’t focus solely upon economic activity. Instead , their goal is to build a community that grows & thrives beyond the individual contributions of each generation.
The idea may sound radical but it’s the foundation for a variety of other institutions including Churches, Universities, and even armies that were established centuries ago & continue to flourish today. These institutions & their corporate counterparts exhibit the behaviour & select characteristics of living organisms. They learn, develop an identity, build relationships with other life forms, grow and eventually die. They are, in fact, living entities.
Living companies, like all organisms, exist primarily to survive & fulfil their maximum potential. Just as work is a means to an end for you, making money by producing goods & services is a means to an end for a living company. Their end is to live.
They stay alive by
· Learning & choosing to adapt to their environment
· Creating strong identities as tightknit communities
· Paying attention to their relationships with both members & external agencies
· Controlling their growth by spending money frugally.
Understanding how a company can be a living entity is a first step towards increasing its life expectancy.
The enclosed document captures Some Impressionistic takes how a living company learns, develops a strong identity, nurtures relationships & evolves to a ripe old age.
A company is in Prime when form and function are in balance. The what and the how are in balance. Prior to Prime, function is more important than form. In other words, what we do is more important than how we do it. After Prime, how we do it is more important than what we do. That is why, after Prime, how you do something and whom you know is more important than what you do. In Prime, the what and how are in balance. In Prime, the company is both flexible and in control. Prior to Prime, the company is flexible, but not very much in control of itself. After Prime, control is very high, and the company loses flexibility. In Prime, flexibility and control are together.
However, in a company in Prime, the management is not as flexible as before Prime, because there is professional management: The tendency to depend on any single indispensable individual does not exist as it does in younger companies. On the other hand, in Prime, the organization has a strategic outlook without losing attention to detail. Furthermore, the organization does not look only at detail without losing its strategic outlook, so the company in Prime has controlled flexibility, and it doesn’t depend on any single individual.
As organizations grow and age they progress through predictable lifecycle stages. Each stage brings increased organizational complexity as well as new and unique challenges. Strategy, structure, levels of delegation, goals, rewards systems and methods of operating usually differ quite markedly in each stage of the organization lifecycle. How well or how poorly leadership addresses the challenges and demands of each stage will determine the success or failure of the organization. The following is a brief description of each of the 10 stages of the corporate lifecycle:
Guardian Masterclass: How to run a purpose-driven businessSally Hill
The slides delivered by Sally Hill from Wildwon in two Guardian Masterclasses in 2016 about how to define and use purpose in a business, and an overview of the landscape of sustainable, ethical, responsible business and social enterprise.
Most entrepreneurs often start a new enterprise ignorant of many key dimensions of running their enterprises and must obtain the necessary information if they are to survive. This study searches to generalize entrepreneurial success with the purpose of providing insights to entrepreneurial venture management. The conclusion expresses that entrepreneurial success depends on growing industries, financial capital, market attractiveness, environmental favorableness, entrepreneur's personality traits, and social networks.
The triple bottom line consists of financial profit (or success), social justice, and environmental protection. It is sometimes summarized as “Profits, People, and Planet.” An intimately related concept is “sustainability”---corporations that are built to last, societies that are stable and just, and a global natural environment that is in a healthy equilibrium. The basic argument is that we live in a time when a narrow, short-term focus on the financial bottom line alone will generate dysfunctions among people and in the environment that will come back to bite the corporation.
Sustainability and the “3BL” are, instead, about mutual benefits flowing in all three directions. The challenge is to find the sustainability “sweet spot” (think golf) where all three interests coincide. Example: Toyota’s Prius low-fuel hybrid benefits the environment, the people who build or buy them, and the owners of the company. Certainly there will be trade-offs; 3BL choices and strategies will require negotiation and compromise. But this is now an economic reality, not just an altruistic dream
It could be argued that what’s new here is just a strong case that financially successful companies must think more broadly and holistically and be sure to take into account all their stakeholder interests, including the environment and society. But it is still the financial bottom line driving the business.
Business ethics is a huge canvas, bigger than sustainability, CSR, corporate governance, or the 3BL. Business ethics is about doing the right thing and building good organizations. Business ethics and values grow out of purposes, missions, and visions and are organically intertwined with corporate cultures. There are more than three bottom lines---there are bottom lines related to every stakeholder. Business ethics doesn’t just ask how to keep three of those stakeholders (owners, environment, society) going and make them last (sustain them) but about what is right and fair and just, about what would constitute excellence and success.
Whole Foods business case & hospitality managementHotel innovador
The following Business Case Study “Walk the Talk”. It deals works with these innovative management premises. It is also a good example of an organization that follows its sense of purpose, transmitting it to all stakeholders. As a result, the company vision is shared first by all team members; producing then more passion and affecting all working activities. This radical management practice breaks with the conventional thought while still achieving spectacular results! Above all, what matters most in this shift in the management paradigm, is that this radical model of management is happening in a very commoditized and mature industry. Whole Foods has clearly shown us that, by focussing on workers and their contribution to constant company improvements, core values and customers, it is possible to get a real Competitive Advantage.
Guardian Masterclass: How to run a purpose-driven businessSally Hill
The slides delivered by Sally Hill from Wildwon in two Guardian Masterclasses in 2016 about how to define and use purpose in a business, and an overview of the landscape of sustainable, ethical, responsible business and social enterprise.
Most entrepreneurs often start a new enterprise ignorant of many key dimensions of running their enterprises and must obtain the necessary information if they are to survive. This study searches to generalize entrepreneurial success with the purpose of providing insights to entrepreneurial venture management. The conclusion expresses that entrepreneurial success depends on growing industries, financial capital, market attractiveness, environmental favorableness, entrepreneur's personality traits, and social networks.
The triple bottom line consists of financial profit (or success), social justice, and environmental protection. It is sometimes summarized as “Profits, People, and Planet.” An intimately related concept is “sustainability”---corporations that are built to last, societies that are stable and just, and a global natural environment that is in a healthy equilibrium. The basic argument is that we live in a time when a narrow, short-term focus on the financial bottom line alone will generate dysfunctions among people and in the environment that will come back to bite the corporation.
Sustainability and the “3BL” are, instead, about mutual benefits flowing in all three directions. The challenge is to find the sustainability “sweet spot” (think golf) where all three interests coincide. Example: Toyota’s Prius low-fuel hybrid benefits the environment, the people who build or buy them, and the owners of the company. Certainly there will be trade-offs; 3BL choices and strategies will require negotiation and compromise. But this is now an economic reality, not just an altruistic dream
It could be argued that what’s new here is just a strong case that financially successful companies must think more broadly and holistically and be sure to take into account all their stakeholder interests, including the environment and society. But it is still the financial bottom line driving the business.
Business ethics is a huge canvas, bigger than sustainability, CSR, corporate governance, or the 3BL. Business ethics is about doing the right thing and building good organizations. Business ethics and values grow out of purposes, missions, and visions and are organically intertwined with corporate cultures. There are more than three bottom lines---there are bottom lines related to every stakeholder. Business ethics doesn’t just ask how to keep three of those stakeholders (owners, environment, society) going and make them last (sustain them) but about what is right and fair and just, about what would constitute excellence and success.
Whole Foods business case & hospitality managementHotel innovador
The following Business Case Study “Walk the Talk”. It deals works with these innovative management premises. It is also a good example of an organization that follows its sense of purpose, transmitting it to all stakeholders. As a result, the company vision is shared first by all team members; producing then more passion and affecting all working activities. This radical management practice breaks with the conventional thought while still achieving spectacular results! Above all, what matters most in this shift in the management paradigm, is that this radical model of management is happening in a very commoditized and mature industry. Whole Foods has clearly shown us that, by focussing on workers and their contribution to constant company improvements, core values and customers, it is possible to get a real Competitive Advantage.
Corporate Excellence Through Corporate Governance Nirc IcsiPavan Kumar Vijay
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Become More Successful in Business by Being More Conscious
1. Creating Success in Your Business,
Beyond Just the Bottom Line
A FUNDAMENTAL
NEW AWAKENING IN BUSINESS:
CONSCIOUS CAPITALISM
By David Zuza
Workplace Leadership Council,
Troy Chamber
October 4, 2012
3. BS (Health Planning & Administration) Penn State,
MBA (Hospital Administration) Cornell
30+ years in Healthcare Administration
Strategic planning and business development
Joined LifeVantage, Troy Chamber in early 2012
Personal mission – Helping others improve their health
by reducing oxidative stress (Protandim)
Initial awareness of conscious business concepts –
Conscious Business, How to Build Value Through Values
(Fred Kofman, 2006)
PERSONAL BACKGROUND
4. “A conscious business fosters peace and
happiness in the individual, respect and
solidarity in the community, and mission
accomplishment in the organization.”
FRED KOFMAN, CONSCIOUS BUSINESS
5. Consciousness is NOT religious
Conscious Capitalism is NOT an oxymoron
Conscious Capitalism is NOT political
Every business has a mission, vision, and purpose
Every business needs profits to survive
Every business is composed of people
Every business depends on its environment
CONTEXT
6. "Conscious Capitalism is a new way of thinking
about business that goes considerably beyond
the approach that most executives and
business teachers take in thinking about
business."
Raj Sisodia, Firms of Endearment
BUSINESS
7. 7
TRADITIONAL CAPITALISM
1. Private ownership of property
2. No legal limit on accumulation of property
3. Free Market – no government intervention in
the economy
4. Profit motive as driving force
5. Profit as measure of efficiency
8. 8
ADAM SMITH (1723-1790)
Intellectual Father of Capitalism who said:
1. Humans motivated by self interest
2. Should be free to pursue profits
Result: “The Invisible Hand” – Efficient
economic system; all will benefit because
goods will be produced and sold cheaply
9. CAPITALISM HAS HELPED MANY
Improvements in:
• Standard of living
• Education
• Life expectancy
• Democratic governments
10. Growing mistrust of businesses
75% of our forests are gone
30% of arable land is gone
Large mammals are down 90% in the last century
Large fish are down 95%
Half of all species alive today likely to disappear in 50 years
Toxic burden on humans is rising
Oil supply is decreasing as demand is rapidly rising
Source: Raj Sisodia, author Firms of Endearment, How World Class Companies Profit
from Passion and Purpose
BUT THE TIMES THEY ARE A-CHANGIN’
13. Performance of Conscious Businesses
Purpose, Stakeholders, Sustainable Performance
Towers Perrin 25 “Stakeholder Superstars” beat the S&P
500 by 126% (15 years).
The Fortune “100 Best Companies” up 176% vs 39% for
the S&P 500 (7 years).
Firms of Endearment (2007) 28 firms -- eBay, Toyota,
J&J, Google up 1111% vs. 100% S&P 500 (10 years).
Conscious Capitalists beat Capitalists at their own
game – making money
16. GREAT COMPANIES HAVE
GREAT PURPOSES
Service to Others: Expressing Love & Care The Good
Discovery & the Pursuit of Truth The True
Excellence & the Quest for Perfection The Beautiful
Changing & Improving the World The Heroic
Which of these great purposes are
the core of your organization?
Source: Raj Sisodia, Firms of Endearment
18. LONG-TERM PROFITS ARE MAXIMIZED BY
NOT MAKING THEM THE PRIMARY GOAL
Business is not a machine, it is a complex adaptive system
of interdependent stakeholders
Leadership’s job is to fulfill the deeper purpose of the
business, optimize the health & value of the entire business
system, be a servant leader to the business
Optimize entire interdependent system = highest long-term
profits & shareholder value
The price system is a tool for leadership to use—a valuable
source of information
Source: John Mackey, CEO, Whole Foods Market
22. TRADITIONAL CAPITALISM TO CONSCIOUS CAPITALISM
From This To This
Profit-focus Purpose-focus
Only shareholders win All stakeholders win
Short-Term Long-Term
Zero Sum Win-Win-Win-Win
Self-centered Holistic
Conflicts of interest Harmony of Interests
Parasitic Mutualistic
Exploitative Creating Value
Trade-offs Synergies
Disliked Valued/Loved
Not Trusted Trusted
23. UNCONSCIOUS VS. CONSCIOUS
UNCONSCIOUS CONSCIOUS
Attitudes
Unconditional Blame
Essential Selfishness
Ontological Arrogance
Unconditional Responsibility
Essential Integrity
Ontological Humility
Behaviors
Manipulative Communication
Narcissistic Negotiation
Negligent Coordination
Authentic Communication
Constructive Negotiation
Impeccable Coordination
Reactions Responses
Emotional Incompetence Emotional Mastery
Source: Fred Kofman, Conscious Business
24. Recognize importance of Purpose, Stakeholders,
Leadership, and Culture
Accept personal accountability and ownership
Respect the realities of finite natural resources
Embrace servant leadership principles (everyone)
Appreciate the value of cooperation vs. competition
Consider the wisdom of The Four Agreements
TRANSFORMATION
25. The Four Agreements, Don Miguel Ruiz
Be impeccable with your word
Don’t take anything personally
Don’t make assumptions
Always do your best
Man’s Search for Meaning, Viktor E. Frankl
“Happiness is the outcome of living a life that has meaning and
purpose. Happiness cannot be pursued; it ensues from living a
life of meaning and purpose.”
FINAL THOUGHTS
