The Conscious Capitalism Movement Explained (What You Need to Know)

Witnessing drastic market crashes and social changes in the past couple of decades has shown us how most businesses function and how they sustain themselves through hard times.

While many businesses cut down on their production and laid off many employees without providing them a safety net, causing drastic difficulties for many families and communities, some companies have not only been able to keep their business alive, but they have also managed to grow and thrive despite many challenges. Why were development and growth possible for these businesses while most well-known companies were even forced into scandal or bankruptcy?

As one of the most prominent thinkers in the industry, Dr. Randy Gibb explains that these successful companies have more in mind than just profit and keeping their heads above water – they are committed to conscious capitalism, with business leaders oriented toward a higher purpose and a healthy employee culture exhibiting strong human foundations.

Although conscious capitalism is still capitalism, it substantially differs in how running a company and connecting with customers and communities is approached. In this article, we give a summary of conscious capitalism to illuminate the aims and sustainability of conscious capitalism, giving examples of which companies are following this business paradigm successfully.

Why is conscious capitalism important?

Conscious capitalism has developed out of necessity. Businesses need to take responsibility for the impact they have on society – how they treat their workers, customers, surrounding communities, stakeholders, the environment, and our planet in general.

In the past, it was enough to have a strong corporate identity and highly developed hierarchical system, which kept the “machine” going to produce more profit every year. Their mantra, “More! More! More!” As we have seen, this type of business structure is a house of cards, bound to fall because it doesn’t shape itself for the things that matter, which would ensure that it is healthy and has a long future ahead.

What does it mean for a business to be healthy and set up for long-term success? The most important characteristic of a conscious business is that it has a soul and a giving, warm heart, with conscious culture as a priority. This means that what matters the most is how the organization impacts its stakeholders, and the world in general, with its culture and products/services.

Conscious capitalism also inspires future entrepreneurs to look deeply into what is really important in this world and to choose a business that really resonates with their talents, values, and purpose – one that they can put their heart and soul into and commit to the best possible practices. Once the founders and CEOs start to lead with passion and higher purpose, the whole outlook and structure of capitalism will follow suit. A question to ponder is, will this still be capitalism, or will the definition of capitalism change altogether?

How does a leading figure in the conscious business world, Dr. Randy Gibb, define conscious capitalism?

Dr. Randy Gibb has been an incredibly important figure in spreading the notion that capitalism can indeed be conscious. As a leading business educator at the Grand Canyon University in Phoenix, AZ, Dr. Gibb and his colleagues have developed a popular and very successful business program committed to a conscious capitalism mind-set. Through his years of teaching and presenting, Dr. Gibb has developed four principles of conscious capitalism to make it clear to the outside world what his vision of conscious businesses is all about.

His first principle focuses on inspiring entrepreneurs to develop businesses that have a higher purpose. Having a higher purpose drives business owners to create a beautiful and powerful vision for their business, backing it with the energy and enthusiasm they need to stick to their plan.

Once an entrepreneur has a clear vision of what kind of business they want to create, the second principle is to be a conscious leader. Conscious leaders use their passion for their work and their strong ethical values to fuel, motivate and inspire the people that they are leading. They strive to create a welcoming, nurturing, and creative environment where their employees look forward to learning and getting better at their work, not feeling resentful for giving their vital energy and time into their job.

Developing and cultivating this heart-centered conscious culture in the workplace is the third principle of conscious capitalism.

The fourth principle focuses on stakeholder orientation – how the employees, customers, suppliers, investors, business stakeholders, and other collaborators are benefitting from the conscious business.

Without precious stakeholders, there would be little reason for the company to exist, let alone grow consciously and sustainably. Making sure that the stakeholders are happy with the company’s products or services and that they are well-taken care of through competitive compensation, excellent benefits, and a healthy work environment, is essential for conscious capitalism to work in the long run.

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ABOUT US

Big Impact Headquarters (BigImpactHQ) is the home of the world’s most cutting edge influence and leadership training for the advancement of all women professionals.

We believe the future is female and that an investment in women is the only investment that will create Heaven on Earth. We specialize in helping extraordinary women leaders access their power and become even more influential.

As a husband and wife team, we are dedicated to living our higher purpose. It is our joy to support extraordinary women leaders (executives & entrepreneurs) with training, coaching and consulting, so together, we can make a positive impact on the planet.

OUR VISION

We strive for a new era of social, economic and corporate responsibility by awakening the power of voice in women leaders all over the planet.

FEMININE INFLUENCE

As advocates for women leaders we subscribe to the four tenants of Conscious Capitalism as these serve to support women in getting out of "man mode" and start leading with their feminine gifts. 

1. Higher Purpose 

2. Stakeholder Orientation 

3. Conscious Leadership 

4. Conscious Culture

BigImpactHQ - Conscious Capitalism for Women Leaders dedicated to elevating humanity through profitable yet sustainable business practices.

We support a global community of women leaders dedicated to elevating humanity through business. BigImpactHQ provides elite leadership, influence & speaker skills for women so they can step into leadership roles that impact decisions, elevate society and heal the planet.

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