Conscious Capitalism teaches business leaders to create shared value by making their companies more successful and competitive while advancing the quality of life for the community and the world.
1- Higher purpose: Conscious businesses focus on their purpose beyond profit, with the belief that balancing the needs of all of a business’ stakeholders — employees, customers, suppliers, community and shareholders — is the right thing to do and will result in a more profitable and successful business.
2- Stakeholder integration: Conscious businesses understand that the interests of their stakeholders are inextricably linked together. Consequently, great business success requires all stakeholders to thrive simultaneously.
Conscious leadership: Conscious leadership is perhaps the most important element in Conscious Capitalism. Without conscious leadership, little else matters.
Conscious culture: Conscious culture includes 7 characteristics, which can be remembered by the acronym TACTILE. T = trust. A = authenticity. C = caring. T = transparency. I = integrity. L = learning. E = empowerment. A conscious culture is very tangible to stakeholders and outside observers.
What other principles would you have added to this list? Do you know of any Australian companies who embody these principles?