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 ...view middle of the document...
The book provides turning points in history that were made possible by free capitalism, examples include the fall of the berlin wall on November 9, 1989, which brought about the end of communist regimes and the birth of the web by Tim Berners in 1989 which has brought about access to unlimited information and has connected almost everyone in the world with social media such as Facebook and Twitter.
No known business is in isolation; all exist and have interaction with people in different environments in their pursuit of profit maximization. In order to do this and create more value for all its stakeholders we are introduced to the four tenets of conscious capitalism, they include higher purpose, stakeholder integration, conscious leadership and conscious culture.
First and foremost the reason I agree with Conscious capitalism is that they are subjected to the discipline of the market and they need to deliver strong financial results just as any other business however, they do this by doing what is right because it is right
Secondly, I agree with John Mackey is his description of a business based on conscious capitalism by using imagination. Imagine a business based on love and caring whose team member are passionate and committed to their work; a business that cares profoundly about wellbeing of its customers and above all a business exists in a virtuous cycle of multifaceted value creation, generating social, intellectual, emotional, spiritual, cultural and physical wealth for everyone. John Mackey ends this description with giving examples of businesses that exist with such a description, from Google to Starbucks to the container store; this proves that conscious capitalism does exist in reality and therefore it can be achieved.
Traditional businesses tend to use corporate social responsibility as a defensive mechanism and to build its reputation with external stakeholders. I solely agree that CSR mindset should be built in to the core of the business because it integrates the interests of all stakeholders and incorporates higher purpose and caring culture. An example is Google, with its Google...