By Geoff Campbell of Round Table Companies
A Note from the Editor: We hear a lot of talk about a winning stakeholder model, while we are also aware that in practice, executing this tenet of Conscious Capitalism requires intention and action. After you’ve read the article, let us know your recent insights into exploring your own stakeholder map.
Do you want your piece of the pie or do you want to grow the pie?
All businesspeople should know themselves well enough to answer this fundamental question about what is more important to them. Growing the pie is a familiar concept to anyone who has studied economics and capitalism. Through stakeholder mapping, Conscious Capitalism, Inc. and its partners, like the Stagen Leadership Academy, are teaching business owners around the world how to expand the pie—because a larger pie simply feeds more people.
Many experienced CEOs who run huge organizations still don’t “get” the idea. What is a stakeholder exactly? Most people are familiar with shareholders, those who own stock in a company. But stakeholders are a wider array of anyone vested in the long-term success of a business. “Growing the pie” only happens when businesses value all stakeholders, not just shareholders.