A Quick Walk Through Conscious Capitalism
Literature has given many definitions to “Leadership”. Most definitions focus on how people lead and how they connect with other leaders. The ultimate answer to leadership depends on a person’s ontological reasons and assumptions. According to famous leadership theories, the outer perspective of a leader is important. Both behaviors and actions can have an impact on the end results. There are few theories to talk about a leader’s inner perspective or development. Moving on, there are limited theories to link the outer and inner views. Leadership theory has evolved drastically. Today, it included details of history, context, relevant players and time. In fact, there is “labelled leadership” to define how all these elements interact.
Though theories talk about leadership in different dimensions, all leaders have few common qualities. They have the power to focus on world-centric and market-centric views. To be more precise, they can create value by addressing challenges.
What is Conscious Capitalism?
Conscious capitalism is a new concept. This is a philosophy that focuses on businesses and processes. Conscious capitalism believes that businesses have the power to boost corporate performance. It works by improving “life and work” for all stakeholders. Conscious capitalism goes a step beyond social requirements. It places social challenges and needs at the core of the business. Next, efforts are carefully driven. All the efforts would be natural and not reactive. External situations would have minimal impact on the culture and function of the company.
Components of Conscious Capitalism
Here are few important points on conscious capitalism:
- Most of the business is stakeholder oriented
- The business focuses on higher purpose
- It reconciles profitability and caring from higher levels of energies
- Social responsibility is placed at the core. The entire company is responsible for social challenges and impact.
- This form of business required genuine transformations
- The company has to engage in good deeds to move forward and generate better revenues
Benefits of Conscious Capitalism
Conscious capitalism has changed the world for many leaders and businessmen. It is an upcoming idea that can affect both the societal and financial wealth. Studies reveal that companies that stick to conscious capitalism has increased by 70% in the past ten years. Luckily, most of these companies have outperformed the rest. These companies have experienced beyond financial wealth. They are able to create loyal customers, keep employees satisfied and also take care of societal concerns.
- Globalie Blog Team