Unit 3: Conscious Capitalism (CC)

Tutorial 4

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Opening discussion … (3 – 5 mins)

• How might you describe the underlying premise of CC?

– What are your initial thoughts on this premise?

– How does it make you feel? – Do you support this premise?

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John Mackey, CEO of Wholefoods

What’s more important to a business - profit or purpose?

• John Mackey says both

• The controversial founder of Whole Foods (and author of the book Conscious Capitalism) built his empire by focusing on purpose ... not just on profit

• Do profits motivate people?

– Mackey thinks that being a conscious business is about ensuring that everyone connected with an enterprise understands that connection, and that this approach contributes to the wellbeing of everyone involved. Profits follow when employees make this connection?

#BSSD17Conscious Capitalism: Liberating the Heroic Spirit of BusinessJohn Mackey, CEO of Wholefoods [22.31]

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Raj Sisodia,Prof. of Marketing, Bentley UniversityChairman, Conscious Capitalism Institute

CONSCIOUS CAPITALISM – Actualising Business and Human Potential

In small groups, take a look at Prof. Sisodia presentation and identify the emerging themes. Prior to this tutorial, you should have read the two posted articles on CC. Answer the following questions:1. ‘CC is a bolt-on Sustainability programme’. Analyse this statement.2. ‘CC organisations outperform the market’. Discuss

Example exam question to consider in your own time:• Critically evaluate the concept of CC

Let’s discuss …

#BSSD17‘CC is a bolt-on Sustainability programme’. Analyse this statement. (10 mins)

(Laszlo)

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‘CC organisations outperform the market’. Discuss (10 mins)

Four Principles of Conscious Capitalism

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Critically evaluate the concept of CC (reflect in your own time)• Not every company can afford to adopt the principles e.g.

SMEs• Limited by the nature of the business or technology e.g. oil

exploration company• Demise of founder e.g. Anita Roddick of Body Shop• Or when the company is sold on e.g. Ben & Jerry ice

cream• There will always be managers who do not care about

anything other than profit maximisation• Question – does regulation have a role in promoting

Conscious Capitalism????

#BSSD17Is Patagonia an example of CC? [11.39]

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#BSSD17In your own time …Find out about GameChangers 500 … some challenging thoughts?