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Conscious Capitalism

Sisodia, Raj

Date: Fourth Quarter 2016

Tags: Conscious Capitalism, free market, higher purpose, zero-sum game, greed

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Free-market capitalism is under fire. Yet, according to the author, it is still the best system for social cooperation and human progress -- if done properly. Drawing on his research, the author casts his vision of Conscious Capitalism, based on four interconnected, mutually reinforcing tenets: a higher purpose; stakeholder integration; conscious leadership; and a conscious culture. He refutes those who say Wall Street will never buy it. Instead, he shows leaders how they can indeed build strong, ethical, cooperative and sustainable businesses -- reclaiming the good part of capitalism in the process.

Tools and Frameworks:
> "Transform Your Stakeholder Relations" outlines some ways that companies can transform their stakeholder relations by creating value for all of their stakeholders.
> "Misconceptions About Conscious Capitalism" lists some common arguments levied against Conscious Capitalism and rebuts each one.

Examples Cited:
Southwest Airlines, Herb Kelleher, John Mackey, Whole Foods Market, Costco, Tata Group, Procter & Gamble, Unilever, Paul Polman, Patagonia, Casey Sheahan, Bill George, Medtronic

Research Basis:
Presents research and case studies by the author that are contained in his book Conscious Capitalism: Liberating the Heroic Spirit of Business, which was co-authored with John Mackey of Whole Foods Market.

About the Author:
Raj Sisodia is the F.W. Olin Distinguished Professor of Global Business and Whole Foods Market Research Scholar in Conscious Capitalism at Babson College, Massachusetts.

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