...Conscious Capitalism: A Counter-Point Overall I understand the inherent benefits that Conscious Capitalism brings to business and the stake-holders, but is it fair to think that the model can fit for all businesses? Businesses operate to make money, otherwise they are non-profits. Is it too much to ask profit-driven business to think more like a non-profit? I believe it is a fundamental flaw of conscious capitalism to only focus on the transformation aspect of business and leadership without realizing the transactional implications. Before moving into the readings, I first want to investigate part of the discussion that we had in class. Specifically, the slide identifying “successful” conscious capitalist companies: This slide is incredibly biased because of the companies used. For example, Google during this period increased their FoE by over 5000% while Toyota increased by only 15%. Does that mean if I average them together I can say that Toyota and Google increased by over 2500%? A proper method to present this data would be to dismiss the highest and lowest performing company to bring the data to more realistic terms. By having Google in the equation, this skews the results dramatically and makes a skeptic like me severely question the rest of the data presented. A second issue from the class discussion came from the exercise of identifying traits of someone we admire. Once we identified those traits, the conclusion was drawn that we should be able to expect those...
Words: 877 - Pages: 4
...REACTION PAPER In the introduction of conscious capitalism, John Mackey gives us a brief history on how he established Safer Way which is now known as Whole Foods Market with no prior business education background. His intention was to create a business that was ethical and purpose driven. His insight on free enterprise capitalism is much focused throughout the introduction and first chapter, its importance and how it has changed the world. I agree with the findings because, it free enterprise capitalism has led to innovations and social cooperation that any other system. It has freed millions of individuals from extreme poverty and enabled businesses to open up around the world that have contributed to the welfare of humanity. Raj Sisodia, the co-author of the book together with Mackey, have pursued to change the way business is thought about, taught and practiced through their movement. This is both noble and I believe it’s our human responsibility to find solutions to the world and innovations that can take us to the next phase of how business is done. Capitalism has been misunderstood and has been tagged with bad titles such as crony capitalism, profit maximization for investors as top priority and unethical business activities as inferred by products from its activity. Crony capitalism is one of the most tagged names of big corporations because they have the financial resources to corrupt and bribe the government and inturn use this power for their own enrichment. Although...
Words: 1014 - Pages: 5
... 17-12-12 PHILOSOPHY,SOCIOLOGY;PSYCHOLOGY AND BUSINESS CONSCIOUS CAPITALISM: Lecture: Josè Alarcòn EXECUTIVE SUMMARY: Conscious Capitalism: A more complex form of Capitalism that hold within itself the possibility to enhancing corporate performance while contributing to advance billion peoples’ quality of life...or...just good business. When approaching to this “new” horizon we have to know that is not new...capitalism doesn’t involve avidity and disrespect, it just has been corrupted. When Kant and Montesquieu were talking about the reducing of conflict through commerce, they were talking about just good business. This is a really important thing that has to enlighten everyone while approaching to capitalism in general and, obviously, to Conscious Capitalism. This philosophical and economical theory has to be understood in all its details because it seems there are no trap this time, we have eroded our world till today but maybe tomorrow we can began to “reconstruct” it. In fact, now, we can see our reality and our future “on the shoulder of the giants” (passage from Bernard de Chartres) and of the other tall men that have kept thinking...
Words: 2474 - Pages: 10
...Conscious Capitalism Conscious businesses focus on their purpose not their profit. As stated on the Conscious Capitalism website, “By focusing on a deeper purpose, a conscious business inspires, engages and energizes its stakeholders. Employees, customers, and others trust and even love companies that have an inspiring purpose” (http://www.consciouscapitalism.org/). It is not always about the money. A conscious business cares about its employees, suppliers, investors, community and the environment. The first of the four tenets of conscious capitalism is that a business has a greater impact on the world when it is based on a higher purpose rather than profits. Core values are essential, and should be the foundation of how a business should operate. The core values of a business are those values on which they perform work and conduct themselves. Higher purpose and core values are at the center of a conscious business. Sometimes businesses become so preoccupied with making money, they forget their purpose (Mackey & Sisodia, 2013). Whole Foods Market depicts an organization that deems core values to be what is truly important to them. Their core values include selling high quality products, satisfying the customer, supporting team members, increasing shareholder value, care of the community and the environment, partnerships with their suppliers, and promoting health through healthy eating. Whole Foods Market puts higher purpose and creating value for the stakeholders...
Words: 883 - Pages: 4
...Professor Lichtenstein GB 110 17 February 2014 Conscious Capitalism Summary John Mackey has a new innovative view on economics and capitalism which he talks about in this article. The theory of economics was first developed during the industrial revolution as an explanatory response. Mackey says that many economists today still use industrial machine metaphors to explain how the economy works. There is obviously something wrong with this because times have changed and those principles are very dated. The article then goes on to talk about the purpose of big businesses. He makes the point that doctors, teachers, lawyers, etc. are all in business to help the common good and have purposes beyond self-interest, but not business. Mackey tells us that the only reason businesses are in business is to make a profit, however this should not be the case. A business should have an intended purpose with its secondary goal of long-term profitability. He gives the example of how entrepreneurs start a business to fulfill a need in society, a purpose. However this is not normally the primary goal of a big corporation. Whole Foods is a big corporation built on these new innovative principles of serving the common good with an intention of long-term profitability rather than short term. The business was started to improve / well-being of people around the world by bringing them high quality natural and organic foods. Whole Foods has created an massive interdependent system starting...
Words: 367 - Pages: 2
...Conscious capitalism is a new philosophy. This philosophy believes that business can improve the corporate performance and the quality of the people’s life (Conscious Business Community, Australia, n.d.). The basic elements of the conscious capitalism include trust, compassion, collaboration and value creation. Hence, if the people who are directly or indirectly involved in the business practice this concept, it enriches their life (Conscious Business Community, Australia, n.d.). The belief of the conscious business is, the right actions taken for the right reasons will bring good (Mackey, Sisodia & George, 2013). Ethics is the moral values that set the standards of behavior. This decides the right and wrong, of a person...
Words: 266 - Pages: 2
...Chapter 1: Your Future in Business Begins Now Question 1: How do businesses and not-for-profit organizations help create our standard of living? Answer: Business: An organization that strives for a profit by providing goods and services desired by its customers. Not-for-profit organizations: An organization that exits to achieve some goals other than the usual business goal of profit. Standard of living: A country’s output of goods and services that people can buy with the money they have. – Standard of living is measured by the output of goods and services delivered by businesses and not-for-profit organizations. High standards of living ensure high quality of life. – Our quality of life is not simply the amount of goods and services available but also society’s general level of happiness. Businesses play a key role in determining our quality of life. Building a high quality of life is a combined effort of businesses, Government and not-for-profit organizations. Question 2: What are the Factors of Production? Answer: Factors of Production: The resources used to create goods and services. There are five factors of production: 1. Natural Resources: Commodities that are useful inputs in their natural state are known as natural resources. Example: land, forests, oil deposits and water. 2. Capital: The inputs such as tools, machineries, equipment and buildings used to produce goods and services and get them to the customer. 3. Labor: The...
Words: 647 - Pages: 3
...Karl Marx and Marxism Karl Marx set the wheels of modern Communism and Socialism in motion with his writings in the late nineteenth century. In collaboration with his friend, Heinrich Engels, he produced the The Communist Manifesto, written in 1848. Many failed countries' political and socio-economic structures have been based on Marx's theories, for example the USSR, East Germany etc. Many people believe that Marxism is not applicable to today's society, as Karl Marx put forward his ideas not anticipating the type of society we have today. The welfare state system has effectively nullified Marx's arguments, and made them irrelevant. Karl Marx, born on May 5, 1818, died on March 14, 1883, was a German economist, philosopher and revolutionist whose writings form the basis of the body of ideas known as Marxism. In his youth he was deeply affected by the philosophy of G.W.F. Hegel, and joined a rebel group called the Young Hegelians, which contributed ideas towards the movement against organized religion and the Prussian Autocracy. Later on in life, he was influenced by the writings of Ludwig Feuerbach, who wrote that God was invented by humans as a projection of their own ideals, and that in creating such a 'perfect' being, in contrast to themselves, mankind lowered themselves to lowly, evil creatures who needed guidance from the church and government. He said that, in creating God in their own image, humans had 'alienated themselves from themselves.' ...
Words: 706 - Pages: 3
...“Explore the ideas of Karl Marx, discussing his theories and views toward capitalism. Discuss how these matters compare to modern day economic conditions, and consider the ethical and sustainability matters that are raised for today's managers.” Karl Marx; an economist, sociologist, revolutionary and historian, whose theories continue to influence economic thought for managers today. Karl Heinrich Marx (May 5,1818 – March 14, 1883) put forth many theories with regards to economics, politics and society that established the base on which Marxism was formed. His critique of the philosophies of other theorists and critical analysis of capitalism has influenced economic perception, and contributed largely toward the current understanding of capital and labour and the relationship that exists. In Karl Marx’s criticism of capitalism, he discussed many social matters such as ‘alienation’, the dominance by the ‘bourgeoisie’ over the ‘proletariat’; issues with regard to labour, such as the de-skilling and dehumanisation of workers as technological advances came about and capitalists strived to maximise ‘surplus value’ through the ‘exploitation’ of human labour. Although times have changed and this type of work environment is not as common, it is still an ever present situation in places such as China and India where cheap labour is employed to maximise the return for those in ‘control’. Advancements in technology continue, to the extent where the duties of workers can be performed...
Words: 3106 - Pages: 13
...Class issues and the rise of the superstructure in The Giver and The City of Ember Since the start of agriculture, man's evolution has gone from a hunter-gatherer to modern day capitalistic societies. Using a lot of energy in order to hunt was no longer necessary. By leveraging the division of labor, grains could be stored for human consumption. Consequently, population grew which meant that some people had to, for example, harvest the food, whereas others could be “thinkers” and create a better world in terms of science and effective infrastructures. Over time resources have been used and exploited in to order to sustain societies and the ever increasing population: It has become a scarcity. (Harris 12) Philosophers such as Karl Marx wrote about this scarcity and how it creates classes in societies, as in Das Kapital, the Critique of Political Economy: In social productions of their life, men enter into definite relations that are indispensable and independent of their will, relations of production which correspond to a definite stage of development of their material productive forces. The sum total of these relations of production constitutes the economic structure of society.... With the change of the economic foundation the entire immense superstructure is more or less rapidly transformed. In considering such transformations a distinction should always be made between the material transformation of the economic conditions of| production...(Marx 143) What is...
Words: 3055 - Pages: 13
...famine, political infighting human rights abuses are all products as a result of lack of money, control of money, and the hoarding of money. In this paper, the extent to which money has corrupt human beings is analyzed. The paper will look at the reasons as to why the evils due to money issue arise and how they are related to alienation as expressed by Karl Marx in his paper-alienated labor. Marx became revolutionary figure because he came to sure that capitalism could not be reformed. At the end, capitalism could only create estrangement and alienation. As Marx describes, there is important connections between greed, private property, the separation of labor, monopoly, exchange and competition, capital and landed property, value and devaluation of man and competition. There is connection between the entire systems of estrangement and that of the money system. Karl Marx perspective Karl points to the common connection between money and the evil. He demonstrates in the consumerism, greed, and profiteering characteristic of capitalism. “Money, and all it symbolizes, is the root of all evils in a deeper”. Money if viewed from outside the system may be seen to do something insidious. It eliminates the very concepts of evil. On the other hand, it makes it impossible to discriminate evil and good. Money is shorthand means to say that capitalistic relations, trade and exchange, market value ushers in a confused moral world....
Words: 1968 - Pages: 8
...technology and digital technology including virtual reality.” (Gilbert 2006). The play follows a young man, Om who signs up to the organ selling company Interplanta in order to earn money for his poverty stricken family, only to discover that his and his families lives would change forever, being ruled and watched over by who is thought to be an all American blonde called Ginni. The play follows Om and his family and their struggle to keep their identity and sanity through the hands of the Western Interplanta and the Western society who made them. There is much evidence of post-colonialism and globalisation in Padmanabhan’s Harvest, such as dehumanisation and orientalism, however the main focus points of this essay are utopia and dystopia, capitalism and the advances in technology. It can be seen that a prominent theme in Manjula Padmanabhan’s Harvest is the one of post-colonialism. Western countries have dominated the world since the sixteenth century, at one point Britain owned fifty per cent of the world, however much has changed, and many...
Words: 2279 - Pages: 10
...Nature and Nurture in a Global World: The Need to Strike a Balance John Odike University of Nigeria, Enugu Campus “Today and more than ever before, the world has become a ‘global village’ with the expansion of the communication networks, the rapid information exchange, the gradual shrink of borders and of attachment to identities and citizenship, the lifting of the barriers of visas and passports, the consecration of a new era when national sovereignty and the authority of the nation-state is fading away in favour of regional groupings, international organizations and international legality and law. This means the beginning of the return to the universal trend which is imposed by human instinct, but in a broader environment and in an evident endeavour to dominate the world.” – Prof. Abdelhadi Boutaleb Globalization has affected many aspects of life, and as Thomas Friedman posits, “has changed the world permanently, for both better and worse”_. This post-Cold War concept appears as a dual phenomenon with two antagonistic dimensions, and Boutaleb remarked, “From one perspective, it looks like a system of wealth, prosperity or even the promised heaven; from another, it appears as a system of exclusion and marginalization. For some, it is a merciful angel, while for others, it is Satan.”_ In view of this double effect, this paper seeks to discuss the fate of character and communities in this era of borderless interaction; when information, science, culture...
Words: 2801 - Pages: 12
...this situation and Darlene is not showing the proper protocol. Charles has reminded Darlene that she has never come to him to discuss this problem before. He also made it clear that the file room workers were not violating company policy with their smoking. Darlene on the other hand is being insubordinate by refusing to do the work. If I was supervisor I would remind Darlene of that fact and remind her of the jeopardy she is putting her position in by refusing to perform an important task. I would empathize with her desire to have a smoke free environment but suggest to her that she must follow the proper measures for change so it will not hurt her position. Due process must go both ways. The Smoking Policy In a health conscious society a healthy work environment is important to many people....
Words: 895 - Pages: 4
...to economic struggles. As you can see Karl Marx and Sigmund Freud had very deep intellectual views on society and now I will go more in depth and pick apart both the beliefs. Karl Marx, An educated German thinker viewed society as well as human nature harshly. Marx, through writing the Communist Manifesto can be seen as a man who believed in equality and harmony, which he believed, could be achieved through government. Marx believed that through sharing we could achieve a peaceful utopian like society where everyone’s needs were met. Marx took to the stand to that in society you should receive according to your needs and contribute according to your talents. As you can see through what I just stated he firmly took to the belief that capitalism is immoral and bad for society. He felt that through a free uncontrolled capitalistic economy a person essentially...
Words: 798 - Pages: 4
