By:Jan Mazotti Issue: Conscious Capitalism Section: Letter From The EditorWhat is Conscious Capitalism? The term evokes a bit of confusion when said aloud. I’ve been asked, “Is Conscious Capitalism when you know you are a capitalist and are working to exploit every money-making opportunity? Or, is it being socially conscious while following the basic capitalistic premise?”
While working on this issue of ICOSA, we defined Conscious Capitalism as the reorientation of a business focused solely on the pursuit of profits to one focused on integrity, higher standards, and serving all stakeholders – employees, suppliers, customers, investors, the community, and the world at large. Conscious Capitalism embodies the pursuit of a higher purpose than just business as usual – it is a win-win-win model. Conscious Capitalism is an ethos that pervades strategy and form. It assumes that the fundamentals of capitalism must change if global businesses, communities and governments are going to thrive.
Conscious Capitalism is not just Corporate Social Responsibility – it’s bigger and steeped in measurable purpose. New Belgium Brewing’s robust efforts at community collaboratives, corporate culture, and energy consciousness demonstrate loyalty and stakeholder inputs.
Wainwright Bank, values both the intangible and the tangible, and can demonstrate that allocating capital in underserved markets is not only socially responsible, but profitable.
Others are focused on long term results. By 2015, Denver’s Road Home is committed to ending homelessness and establishing services so that every individual when faced with homelessness, is supported by a community that is ready to respond, ensuring that everyone has a safe place to call home.
We believe that the Conscious Capitalism movement can transform the world. It won’t come solely from one group, but originates from collaborative relationships between the ABCGs – academia, business, community organizations, and government – working together to make substantial, strategic, and meaningful change.
With negative news filling the media these days, we are proud to be affiliated with each of the people and organizations in this issue. We have one life to make a difference. Why not now?