Conscious Capitalism
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Conscious Capitalism

Siena Heights University. LDR604-OB. 04/21/2017. Presented by Team 2. Melissa . Denbrock. Alyssa Shelton. Michael . Stradtner. Dennis Wood. Dennis Wood. What is Conscious Capitalism. WHAT IS CONSCIOUS CAPITALISM.

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Conscious Capitalism




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Presentation on theme: "Conscious Capitalism"— Presentation transcript:

Slide1

Conscious Capitalism

Siena Heights UniversityLDR604-OB04/21/2017Presented by Team 2Melissa DenbrockAlyssa SheltonMichael StradtnerDennis Wood

Dennis Wood

Slide2

What is Conscious Capitalism

WHAT IS CONSCIOUS CAPITALISMWeiss (2014) suggests the following attributesGood businesses make money by creating valueNot all about profitsListening and learning from today’s customersConscious move to a higher purpose Just one step in that direction Separate from Corporate Social ResponsibilityA step beyond what is requiredReinforces the ‘separation thesis’

Dennis Wood

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Higher Purpose

Why do organizations exist?Make money to survive – OR – Survive to make money?Beyond profit / Public serviceFremeaux and Michelson (2016) suggest Conscious Capitalism links community good and personal good. PoliceLawyersDoctorsTeachers

Dennis Wood

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Higher Purpose

For profit organizations -Originally created to fill a needInevitable move to maximize shareholder valueBeyond profit / For-profit organizationsIdentifying and committing to a higher purposeHeavy engagement with all stakeholdersRally around an idea or visionBuilds creativity, innovation, and organizational commitmentReinforcing, cyclical impact back to profits

Dennis Wood

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Higher Purpose

Result: Firms of EndearmentStarbucks: Schultz demonstrates value creationHelmore (2015) writes Starbucks stands out because it addresses causes that have little to do with its business.Conscious capitalism requires bold commitments.

Dennis Wood

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References

Frémeaux, S., & Michelson, G. (2016). The Common Good of the Firm and Humanistic Management: Conscious Capitalism and Economy of Communion. Journal of Business Ethics, 1-9.Helmore, E. (March 21, 2015). How Starbucks wants to be the face of c onscious capitalism. The Guardian. Retrieved from: https://www.theguardian.com/business/2015/mar/21/starbucks- face-conscious-capitalismWeiss, J.W. (2014). Business ethics: A stakeholder and issues management approach (6th ed.) San Francisco, CA: Berrett-Koehler Publishers, Inc.

Dennis Wood