Conscious Capitalism builds the case that businesses that are driven by purpose will be the ones to succeed and indeed, thrive in the free market going forward. Focusing on all your stakeholders, not just shareholders, will provide better value to your shareholders and create a healthy environment in which to do business.
While making money is essential for the vitality and sustainability of a business, it is not the only reason a business exists. Conscious businesses focus on their purpose beyond profit. They focus on their whole business ecosystem, creating and optimizing value for all of their stakeholders, understanding that strong and engaged stakeholders lead to a healthy, sustainable, resilient business. Those stakeholders include employees, customers, suppliers, funders, supportive communities and a life-sustaining ecosystem, without which there is no business. Conscious business is a win-win which includes a healthy return to shareholders.
Gallup's recent study of Millennials shows that one of the top criteria for identifying companies for whom they want to work is what do you stand for, what do you value. Can you articulate what your company stands for, what is your purpose?
Consumers prefer caring brands. In a 2015 study by Havas Media, a meaningful brand has a 46% higher "share of wallet" than a low scoring brand. The top 25 meaningful brands outperform the stock market by 133%. Purpose drives profit.
Creating purpose and implementing it has to be a part of the DNA of the organization. It starts at the top of the organization and permeates the entire entity. Creating a brand around purpose means involving your employees and all stakeholders to be successful and sustainable over time.
Let us help you identify and develop your purpose, implement it throughout your organization and with your stakeholders.