Conscious Capitalism Movement: United States

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Conscious capitalism is a new movement in the United States, which has emerged from the theory of corporate social responsibility. Before going in depth of what conscious capitalism really is, let’s separate both words and their definition. Conscious is an adjective which describes been aware of and responding to one’s surroundings. Now let’s define capitalism; an economic and political system in which a country’s trade and industry are controlled by private owners for profit. People often associate capitalism with corporations, for a long time people think of corporations as being greedy, selfish, and uncaring only interested only about profits. Corporations carry a lot of power and are the most influential institutions in this world. Yet…show more content…
The first principle is the idea of interconnectedness. This principle explains that everyone is connected and we depend on each other. Since we all depend on each other, we become concerned in the impact on others and the environment we create. We have that nature of caring for everyone around us. The second principle is Holistic Wealth, wealth is not only currency. Holistic wealth covers more deeply what each person considers wealth. People value the meaning of life, interpersonal relationships, and feelings of belonging within an organization or community. The last principle is multiple generation of time. This principle emphasize the importance of looking into the future. To recognize how actions today will shape the future generations. All this principles work together to form conscious capitalism and explains how companies can adapt to this…show more content…
The first one is conscious leadership. Conscious capitalism starts with leaders. They are the ones who will promote this model within the organization. Since leaders set the examples, if the leader shows conscious leadership, other members will follow this view. This creates a domino effect, for example if the leader shows this trait, the member will likely show that trait to others creating the domino in effects. The second tenant is higher purpose, we know that business is there to make money, but now business are adapting and adopting a higher purpose. For example a hospital is not just there to make money, but to heal the sickness. Every business should identify their higher purpose within themselves. This leads to the third element, conscious culture. Culture is what drives the business. It shapes how the company is run and administered. A company being conscious culture, will show by how shareholders are threated. Conscious culture allows all people to be treated equally and fairly. This leads to the last element, Stakeholder integration. When a company practices stakeholder integration, no single stakeholder group is more important than another. In traditional capitalism, decisions are made to benefit the shareholders or owners, while all other constituents take a back seat. In Conscious Capitalism, leaders build a synergistic relationship among the stakeholders, and seek win-win

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