Higher Purpose

Dear Business Schools: Profits are Not the Point

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Why academia needs to stop pigeonholing capitalism

By Geoff Campbell and Aleksandra Corwin of Round Table Companies

 

Capitalism exploits workers. Capitalists are greedy. Capitalists destroy the environment. Or so say capitalism’s critics.

The litany of complaints about capitalism stretches to the horizon, ignoring the fact that capitalism has improved the lives of countless millions and serves as the single-most powerful force for good the world has ever seen.

Why the disconnect? Any business people worth their salt know that the essential ingredient to long-term success is balancing the needs of the entire stakeholder chain. Yet there continues to be a mismatch between the prevailing narrative about business (greedy pigs) and the reality we know to be synonymous with a truly successful business (value-creators for everyone the business touches).

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CCAC2018 Keynote: Momentous Institute’s Michelle Kinder

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Participants attending the 2018 Conscious Capitalism Annual Conference in Dallas should prepare to be inspired and moved!  Representing her hometown as one of the event’s riveting keynote speakers will be Momentous Institute’s executive director, Michelle Kinder.

Since 1920, Momentous Institute (formerly Salesmanship Club Youth and Family Centers) has been powered by the Salesmanship Club of Dallas, a service organization of more than 600 business and community leaders committed to transforming kids’ lives. The organization has helped to build and repair social emotional health with children and their families so they can achieve their full potential for nearly a century. Since 1968, Momentous Institute has been the beneficiary of the AT&T Byron Nelson, an annual PGA TOUR golf tournament in North Texas that has raised $155 million.

We could list all the reasons why Michelle was named the 2015 Non-Profit CEO of the Year by CNM Connect and Momentous Institute was named one of the top 100 Best Workplaces for Women by Fortune magazine and Great Place to Work. But we think this video showcasing the wonderful work being done by Michelle and the caring Momentous Institute staff to benefit the greater Dallas-Ft. Worth region will do the job better than we ever could. We are very much looking forward to hearing more about the purposeful drive powering this treasured example of elevating humanity through business. We hope you will join us and be inspired, too!


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Throwback Thursday: Miki Agrawal at CC2017

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Miki Agrawal is a social entrepreneur who loves to use designed innovation to break taboos and change culture. Many know her as the co-founder and chief innovator of THINX, the the period-proof underwear company that’s disrupting the $15 billion feminine-hygiene market. And rightfully so!

Under Miki’s leadership, THINX was named Fast Company’s “World’s Most Innovative Companies of 2017.” The product was one of Time magazine’s 25 Best New Inventions of 2015. In its first giveback partnership, THINX helped over 60,000 girls in Uganda return to school.

But that’s not all this author of Do Cool Sh*t: Quit Your Day Job, Start Your Own Business and Live Happily Ever After has accomplished in her notable career so far. From bidet attachment TUSHY to farm-to-table, gluten-free pizza concept WILD, she’s passionate about sharing her knowledge and strategies from idea to launch to growth in the most authentic way possible. Check out her engaging talk on how to stand out in crowded markets at the 2017 Conscious Capitalism Annual Conference in Philadelphia.


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Meet Our Newest Board Members for 2018

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Conscious Capitalism, Inc. Appoints Eight New Members to Board of Directors

New members include executives from The Motley Fool, Studio Movie Grill, PAR Technology Corporation, First United Bank, Satori Capital, driversselect, Jump Associates and Improving

“We are honored and grateful that these exemplary leaders of conscious businesses have chosen to lend their experience and insights to what may very well be the defining social movement of the 21st century,” said Alexander McCobin, chief executive officer of Conscious Capitalism, Inc.. “With their additional guidance, we are even more so encouraged that the day when a more conscious practice of capitalism becomes the norm rather than the exception is well within our reach.”

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2018 Annual Conference Conversation: John Mackey & Ed Freeman

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Known as the father of stakeholder theory–one of the four tenets of Conscious Capitalism–R. Edward Freeman is a renowned figure in the movement to elevate humanity through business. He is the co-academic director of the Institute for Business in Society at the University of Virginia Darden School of Business and author of numerous books on stakeholder management and business ethics.

So, it is with great excitement that we share that Ed will be joining another renowned figure from the movement on stage for a deep conversation on the importance of Stakeholder Orientation at the 2018 Conscious Capitalism Annual Conference. Joining Ed for this intimate dialogue will be Whole Foods Market co-founder and CEO and co-founder of Conscious Capitalism, Inc., John Mackey. While the entire conference is shaping up to be one you certainly will not want to miss, this sit-down between two of the movements foremost figures will very special indeed.

To get an idea of how dynamic of a speaker Ed can be, watch his TED talk on how we Conscious Capitalists have the power to create a new narrative about business, one that proves a more conscious practice of capitalism is the key to unlocking humanity’s full potential.


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Throwback Thursday: Greyston CEO Mike Brady at CC2017

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Ben & Jerry’s ice cream is good. Okay,really good. But when you mix in the delectable delights created by Yonkers, NY based Greyston Bakery, you get the Chocolate Fudge Brownie and Half Baked™ flavors that are two of the iconic ice cream company’s most popular. More than just its brownies, however, what makes Greyston stand out among the growing number of businesses built upon a more conscious practice of capitalism is its innovative approach to hiring.

By filling jobs without judging applicants or asking any questions, Greyston’s Open Hiring™ program creates opportunities for individuals who have been excluded from the mainstream workforce. Complemented by community programs that provide employees and their neighbors with additional services that help people keep a job, Open Hiring provides people with the opportunity to experience the dignity of work and improve their lives and their community.

A proud statement you’ll hear all across Greyston is, “We don’t hire people to bake brownies, we bake brownies to hire people.” And it is that kind of commitment to a stakeholder oriented higher purpose which makes the story you’ll hear in Greyston CEO Mike Brady’s keynote at the 2017 Conscious Capitalism Annual Conference all that more inspiring.


Stakeholder Orientation

Responsible Banking

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How KeyBank brings consciousness to its industry

By Geoff Campbell and Aleksandra Corwin of Round Table Companies

 

Building on a long-standing commitment to responsible banking, KeyBank is a powerful example of how enlightened business practices align with higher profits—the central premise of Conscious Capitalism.

“Profit and consciousness are not polar opposites,” says Beth E. Mooney, chairman and chief executive officer of KeyCorp. She stresses KeyBank’s focus on helping clients and communities thrive —including balancing “mission and margin”—and ensuring all boats in their wake are rising.

“We believe when our customers do well, we do well,” Mooney said. “When our customers do well, our communities do well. This is the true balance of mission and margin.”

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What is Social Impact Investing?

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BlackRock’s letter to CEOs earlier this month has the investment world buzzing with the potential of Conscious Capitalism. Earlier this week, Andrew Brady, a co-founder of the Rochester, New York chapter of Conscious Capitalism, Inc. was a guest on NPR affiliate WXXI to discuss the rise of social impact investing. Check out the interview and join us in celebrating the progress our growing Conscious Capitalism community is making toward elevating humanity through business.


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BlackRock’s Letter to CEOs: A Turning Point?

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Last week, the world’s largest investor, BlackRock, issued a letter to CEOs establishing its expectation that the companies it invests in going forward serve a social purpose. It’s a move being called “a watershed moment on Wall Street, one that raises all sorts of questions about the very nature of capitalism.” Get our perspective in this Real Leaders op-ed by Conscious Capitalism, Inc. CEO, Alexander McCobin.


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CC2018 Keynote: Café Momentum’s Chad Houser

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Café Momentum is a Dallas-based restaurant and culinary training facility that transforms young people’s lives by providing a positive environment in which at-risk youth who have spent time in juvenile facilities receive intensive culinary, job and life-skill training, as well as continued mentorship and support, enabling them to achieve their full potential.

It is with great excitement that we share with you that not only will Café Momentum’s founder, CEO and executive chef, Chad Houser, be a keynote speaker at the 2018 Conscious Capitalism Annual Conference in Dallas (April 30 – May 2), but that we will also be offering a special three-course dinner for conference attendees at Café Momentum, just a short walk from the Fairmont Hotel. This is a private event and space is limited. So, don’t delay! Register today to save your seat at this inspiring dinner table event.

In the meantime, learn more about the wonderful work Chad and his team are doing at Café Momentum.

Cafe Momentum from SALTBOX on Vimeo.