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Chapter from: "Conscious Capitalism, With a New Preface by the Authors: Liberating the Heroic Spirit of Business"
Published by: Harvard Business Publishing
Originally published in: 2021
Version: 7 January 2014

Abstract

In 'Conscious Capitalism', Whole Foods Market cofounder John Mackey and professor and Conscious Capitalism, Inc cofounder Rajendra Sisodia argue that business and capitalism are both inherently good. Some of today's best-known and most successful companies are used to illustrate this; they are creating value for all stakeholders. This book delves into the four tenets of Conscious Capitalism: higher purpose, stakeholder integration, conscious leadership, and conscious culture and management. It also offers suggestions on how to start conscious businesses and move existing businesses toward becoming more conscious. Part 2, comprising chapters 5 through 12, explores how conscious businesses think about each major and secondary stakeholder and how they can leverage the interdependent relationships that exist among stakeholders. Chapter 10 discusses the environment as a stakeholder for all companies. Conscious businesses take full responsibility for their environmental impacts and refuse to accept trade-offs for the environment, just as they do for other stakeholders. Three of Whole Foods Market's environmental initiatives are described: promoting sustainable livestock production, animal welfare, and seafood sustainability. In order to solve environmental challenges we face today and will face in the future, we need to be more creative and innovative. Several examples are given of companies who have implemented creative solutions. Solving the climate crisis needs to be approached from a place of love and care rather than fear and guilt.

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Abstract

In 'Conscious Capitalism', Whole Foods Market cofounder John Mackey and professor and Conscious Capitalism, Inc cofounder Rajendra Sisodia argue that business and capitalism are both inherently good. Some of today's best-known and most successful companies are used to illustrate this; they are creating value for all stakeholders. This book delves into the four tenets of Conscious Capitalism: higher purpose, stakeholder integration, conscious leadership, and conscious culture and management. It also offers suggestions on how to start conscious businesses and move existing businesses toward becoming more conscious. Part 2, comprising chapters 5 through 12, explores how conscious businesses think about each major and secondary stakeholder and how they can leverage the interdependent relationships that exist among stakeholders. Chapter 10 discusses the environment as a stakeholder for all companies. Conscious businesses take full responsibility for their environmental impacts and refuse to accept trade-offs for the environment, just as they do for other stakeholders. Three of Whole Foods Market's environmental initiatives are described: promoting sustainable livestock production, animal welfare, and seafood sustainability. In order to solve environmental challenges we face today and will face in the future, we need to be more creative and innovative. Several examples are given of companies who have implemented creative solutions. Solving the climate crisis needs to be approached from a place of love and care rather than fear and guilt.

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