A business that adheres to the principles of conscious capitalism focuses on a purpose beyond pure profits. In doing so, it inspires and engages its key stakeholders. Every conscious business has a higher purpose as to why they exist, need to exist and the contribution they make to the society. A firm's purpose is the glue that holds the organization together. The purpose is which attracts the right customers, workers, suppliers, investors etc. to the business and to maintain the relationship.
Businesses have multiple stakeholders including customers, employees, suppliers, investors, among others. Some companies focus on return to their shareholders to the exclusion of everything else. A conscious business, on the other hand, concentrates on the whole business ecosystem including the environment and community where it operates to create and optimize value for all of its stakeholders. Conscious businesses think caringly and strategically about the environment. They should consider it as one of the company’s key stakeholders and treat it with the same respect and attention as given to other stakeholders.
Human social organizations are created and guided by leaders - people who see a path and inspire others to travel along the path. Conscious Leaders understand and embrace the Higher Purpose of business and focus on creating value for and harmonizing the interests of the business Stakeholders. They recognize the integral role of culture and purposefully cultivate Conscious Culture. Conscious Capitalism relies on the Servant Leadership model where good leaders must first become good servants and focus on “we” rather than “me”. They inspire and foster transformation and bring out the best in those around them. Conscious leaders work to connect and align the interests of the stakeholders on a level where all stakeholders win, rather than a trade-off dominated zero-sum game.
Corporate culture is the sum of the values and principles that constitute the social and moral fabric of a business. A conscious culture is one where the policies of conscious capitalism permeate the enterprise, fostering a spirit of trust and cooperation among all stakeholders. Conscious Culture also includes accountability, transparency, integrity, loyalty, egalitarianism, fairness, and personal growth, acting as an energizing and unifying force that truly brings a conscious business to life.