Container Store, Whole Foods Aim for Conscious Capitalism
Simply put, they believe profits come from balancing the needs of all stakeholders - employees, suppliers, customers, community and investors. A business has to have a purpose other than profits in order to achieve profitability. By Maria Halkias
Raj Sisodia, head of the Conscious Capitalism Institute, believes companies that focus on the bottom line, instead of on employees' needs, will fall behind. Interview with Rajendra Sisodia
Standard economic theory states that people are interested only in their own material gain. But new insights from behavioral economics show that altruism rather than avarice is our primary motivation. By Jeremy Mercer
The capitalist system is under siege. In recent years business increasingly has been viewed as a major cause of social, environmental, and economic problems. The solution lies in the principle of shared value, which involves creating economic value in a way that also creates value for society by addressing its needs and challenges. Businesses must reconnect company success with social progress. Shared value is not social responsibility, philanthropy, or even sustainability, but a new way to achieve economic success. It is not on the margin of what companies do but at the center. We believe that it can give rise to the next major transformation of business thinking. By Michael E. Porter and Mark R. Kramer
Conscious Capitalism - Creating a New Paradigm for Business
The old paradigm of maximizing profits and shareholder values as the sole purpose of business has created negative unintended consequences. The good news is that we can remove most the hostility toward business and capitalism if we change the way we think about it. If business owners/entrepreneurs begin to view their business as a complex and evolving interdependent system and manage their business more consciously for the well-being of all their major stakeholders, while fulfilling their highest business purpose, then we will begin to see the hostility towards capitalism and business disappear. By John Mackey
Weaving his research together with learnings
he has garnered from conversations with a host of executives and students during the last 25 years, Freeman creates a framework for developing ethical leadership. By R. Edward Freeman and Lisa Stewart
Company Stakeholder Responsibility: A New Approach to CSR
Based on a stakeholder approach, this paper outlines a new capability for organizations to develop. By R. Edward Freeman, S. Ramakrishna Velamuri and Brian Moriarty
Bad Management Theories are Destroying Good Management Practices
In this article Sumantra Ghoshal takes an in-depth look at how some of the management theories that have developed over the years have had a negative effect on our business culture. By Sumantra Ghoshal
Winning in the Relationship Era: A New Model for Marketing Success
This short book by Doug Levy provides historical context, background information and some practical tips for marketers facing the challenges and opportunities in this new marketing era. By Doug Levy
Many global companies believe they have a moral duty to respond to the world's problems but are unsure how to do that and still pursue a reasonable profit for their shareholders. Ryuzaburo Kaku, honorary chairman of Canon, the Japanese technology company, suggests that companies consider kyosei, a business credo that he defines as a "spirit of cooperation" in which individuals and organizations work together for the common good. By Ryuzaburo Kaku
Fortune interviews Kip Tindell, CEO and Co -Chairman, the Container Store about the management philosophy that has turned his storage and organizational store into a $500-million-a-year business. By Jenny Mero
How Container Store CEO Kip Tindell analyzes his customers, employees and limits to lead The Container Store to double-digit growth. By Robyn Davis Sekula
Changing the Role of Top Management: Beyond Strategy to Purpose
After longitudinal research on 20 leading European, US and Japanese companies, the need for the role of top management to change became clear. Development of people will be part of the new role. By Christopher Bartlett & Sumantra Ghoshal
In the face of the recent institutional breakdown of trust in business, managers are losing legitimacy. To regain public trust, management needs to become a true profession in much the way medicine and law have, argue Khurana and Nohria of Harvard Business School. By Rakesh Khurana and Nitin Nohria
REI chief Sally Jewell on Sustainability, Shoes and Sedentary Schoolkids
Jewell's number one goal after being named CEO of REI was to reduce the company's environmental footprint, in addition to keeping employees happy and herself happy to keep her company moving forward. By Sarah Van Schagen