Timothy Anderson II Michelle Coffey Shannon Ford Rebecca Libstorff Octamecia Sellers Siena Heights...
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Conscious Capitalism Timothy Anderson II Michelle Coffey Shannon Ford Rebecca Libstorff Octamecia Sellers Siena Heights University Ethics and Social Justice LDR 604 Dr. David Lucas
Timothy Anderson II Michelle Coffey Shannon Ford Rebecca Libstorff Octamecia Sellers Siena Heights University Ethics and Social Justice LDR 604 Dr. David
Timothy Anderson II Michelle Coffey Shannon Ford Rebecca
Libstorff Octamecia Sellers Siena Heights University Ethics and
Social Justice LDR 604 Dr. David Lucas
Slide 3
In past business practices, organizations were solely concerned
with numbers. Numbers that indicated a particular profit that was
suppose to indicate success. Today, the need for relationships,
both within the organization and outside of it determine the
overall success of any organization. Conscious Capitalism aims to
improve the relationships that are formed between the employer and
the organization. In order for any organization to truly achieve
success, emphasis must be placed on the employee and not
profit.
Slide 4
Octamecia Sellers Conscious Capitalism is the reorientation of
business focused solely on the pursuit of profits to one focused on
integrity, higher standards, and serving all stakeholders,
employees, suppliers, customers, investors, the community, and the
world at large. Conscious Capitalism embodies the pursuit of a
higher purpose to help people, planet and profits. It assumes that
the fundamentals of capitalism (greed, fear, etc) must change if
global businesses, communities and governments are going to thrive.
Murphy, O. (2010, September 2). Conscious Capitalism Companies. In
Octavius.com. Retrieved February 25, 2015, from
http://www.octavius.com/conscious-capitalism-companies/
Slide 5
Octamecia Sellers Conscious Capitalism is a philosophy based on
the belief that a more complex form of capitalism is emerging that
holds the potential for enhancing corporate performance while
simultaneously continuing to advance the quality of life for
billions of people. Quote To be conscious means to be awake,
mindful A conscious business fosters peace and happiness in the
individual, respect and solidarity in the community, and mission
accomplishment in the organization. ~ Fred Kofman, from Conscious
Business Klein, J. (2011, August 5). Defining Conscious Capitalism.
In Triplepundit. Retrieved February 25, 2015, from
http://www.triplepundit.com/2011/08/defining-conscious-capitalism/
http://www.triplepundit.com/2011/08/defining-conscious-capitalism/
Thornton, L. F. (2012, November 14). What is Conscious Capitalism?.
In Leading in Context. Retrieved February 25, 2015, from
http://leadingincontext.com/2012/11/14/what-is-conscious-capitalism
/
Slide 6
Purpose: Recognizing that every business has a purpose that
includes, but is more than, making money. Business is a form of
human social organization: people getting together for a purpose;
to do something together; to deliver value to themselves and
others. Stakeholder Orientation: Recognizing the human and
interdependent nature of business, we understand that we need to
create value for and otherwise engage our various stakeholders
(customers, employees, vendors etc.) who are people! Klein, J.
(2011, August 5). Defining Conscious Capitalism. In Triplepundit.
Retrieved February 25, 2015, from
http://www.triplepundit.com/2011/08/defining-conscious-capitalism /
Octamecia Sellers
Slide 7
Conscious Leadership: Human social organizations are created
and guided by leaders people who see a path and lead others on a
journey along the path. Conscious leaders understand and embrace
the higher purpose of business and focus on creating value for and
harmonizing the interests of the businesss stakeholders. They
recognize the integral role of culture and purposefully cultivate
conscious culture. Conscious Culture: This is the ethos the values,
principles, practices underlying the social fabric of a business,
which permeates the atmosphere of a business and connects the
stakeholders to each other and to the idea, the structure and the
processes that comprise the company. Klein, J. (2011, August 5).
Defining Conscious Capitalism. In Triplepundit. Retrieved February
25, 2015, from
http://www.triplepundit.com/2011/08/defining-conscious-capitalism/
Slide 8
Ed Freeman, at Conscious Capitalism, Inc. trustee and Business
Professor says: We need red blood cells to live (the same way a
business needs profits to live), but the purpose of life is more
than to make red blood cells (the same way the purpose of business
is more than simply to generate profits). (Freeman, 2015) Michelle
Coffey
Slide 9
Businesses thrive on making money But we all need a purpose
Purpose gives us incentive Purpose stimulates us A conscious
business impresses stakeholders and influences employees and
customers. Michelle Coffey
Slide 10
It is a way of thinking for the good of an organization
Potential to make a positive impact on the world Creates harmony
between all stakeholders Creates values that last Michelle
Coffey
Slide 11
Financial fulfillment does not have to take a back seat to
conscious capitalism. Money can be made and a higher purpose can be
found. This benefits all who are involved Michelle Coffey
Slide 12
We need conscious capitalism to transform managers,
organizations, and industries to create a wholesome, profitable,
and productive entity. Michelle Coffey
Slide 13
Shannon Ford Conscious Capitalism can work if: Stakeholders
concerns are taken into consideration (which makes profits rise)
There is a balance between Stakeholders and profits The CEO studies
for this type of success
Slide 14
Research shows that conscious capitalism works. FOE companies
overall earn higher shareholder returns: Have premium
price-to-earnings ratios Earn a premium return on equity All while
incurring no more risk than overall stock market (pg.240, Business
ethics). Shannon Ford
Slide 15
Instead of being more concerned with solely making a profit,
conscious capitalist companies look to the bigger picture of
creating value for their customers, team members, suppliers,
society, and investors (pg.230, Business Ethics). Treating
employees and suppliers well, gives an incentive to work harder and
take pride in the work that is done. This attitude creates a
foundation for innovation and growth. Shannon Ford
Slide 16
Capitalism is the most successful form of human social
cooperation ever created. Capitalism works for the right CEO with
the drive to turn a business into a organization with purpose. It
should always be a win win situation Shannon Ford
Slide 17
Ethics play a role in decisions based on Conscious Capitalism.
The Merriam Webster dictionary defines ethics as: The discipline
dealing with what is good and bad and with moral duty and
obligation A set of moral principles; a theory or system of moral
values A guiding philosophy A conscious of moral importance Rebecca
Libstorff
Slide 18
Conscious businesses have trusting, authentic, innovative and
caring cultures that make working there a source of both personal
growth and professional fulfillment. They endeavor to create
financial, intellectual, social, cultural, emotional spiritual,
physical and ecological wealth for all their stakeholders (Mackey
& Sisoda, 2013). Rebecca Libstorff
Slide 19
Ethical Cultures and values are important. Whole Foods Believes
company should operate with a higher purpose beyond profits and
create value for all involved. Whole Foods Mission & Values
Firms of Endearment (FoEs) company that endears itself to
stakeholders by bringing the interests of all stakeholder groups
into strategic alignment. No stakeholder benefits at the expense of
any other stakeholder group and each prospers as the others do
(Weiss, 2014, p. 237) Whole Foods (Weiss, 2014, p.238-239)
Decentralization Transparency Love & Care Collaboration Rebecca
Libstorff
Slide 20
Conscious Capitalism is not about being virtuous or doing well
by doing good. It is a way of thinking about business that is more
conscious of its higher purpose, its impact on the world, and the
relationships it has with its various constituencies and
stakeholders. It reflects a deeper consciousness about why
businesses exist and how they can create more value (Connor, 2013).
Rebecca Libstorff
Slide 21
The decision making process within any organization must
include both leaders and their employees. Conscious Capitalism aims
to help improve the relationships between employees and their
leaders. Conscious Capitalism does not base its success solely off
of profit, but rather on the bonds that exist within the
organization. Placing more emphasis on relationships will improve
the overall success of the company, as well as the longevity of the
organization. T.Anderson
Slide 22
Freeman, E. (n.d.). Conscious Capitalism. Retrieved from
http://www.consciouscapitalism.org
http://www.consciouscapitalism.org Conscious Capitalism. (n.d.). An
Introduction to Conscious Capitalism. Retrieved from
www.consciouscapitalism.org:
http://www.consciouscapitalism.org/node/3998 Weiss, J. W. (2014).
Business Ethics: Bentley University: A stakeholder and issues
management approach (6th ed.). San Francisco: Berrett- Koehler
Publishers. Lane, Hillary. (2007). Conscious Capitalism takes hold.
Retrieved from Boulder County Business Report website:
http://search.proquest.com.ezproxy.sienaheights.edu
Slide 23
Klein, J. (2011, August 5). Defining Conscious Capitalism. In
Triplepundit. Retrieved February 25, 2015, from
http://www.triplepundit.com/2011/08/defining-conscious- capitalism/
Murphy, O. (2010, September 2). Conscious Capitalism Companies. In
Octavius.com. Retrieved February 25, 2015, from
http://www.octavius.com/conscious-capitalism- companies/ Thornton,
L. F. (2012, November 14). What is Conscious Capitalism?. In
Leading in Context. Retrieved February 25, 2015, from
http://leadingincontext.com/2012/11/14/what- is-
Slide 24
Connor, M. (2013, January 27). Business Ethics. Retrieved
February 22, 2015, from http://business-
ethics.com/2013/01/27/1154-john-mackeys-conscious-
capitalism-simply-a-better-way-to-do-business/ (n.d.). Retrieved
February 23, 2015, from
http://www.merriam-webster.com/dictionary/ethic Mackey, J., &
Sisoda, R. (2013, January 14). "Conscious Capitalism" Is Not an
Oxymoron. Harvard Business Review. Weiss, J. (2014). The
Corporation and External Stakeholders. In Business Ethics: A
Stakeholder and Issues Management Approach (6th ed., p. 237-39).
San Fransisco, California: Berrett-Koehler.