About Conscious Capitalism

What is
Conscious Capitalism?

The 20th century witnessed a lengthy battle between polar opposite views of how to organise and regulate economic activity. Although free market capitalism won that epic struggle decisively, it failed to capture the minds of intellectuals and the hearts of citizens.

Corporations are probably the most influential institutions in the world today and yet many people do not believe that they can be trusted.

Conscious Capitalism is a philosophy based on the belief that a more complex form of capitalism is emerging that holds the potential for enhancing corporate performance while simultaneously continuing to advance the quality of life for billions of people. The Conscious Capitalism movement challenges business leaders to re-think why their organisations exist and to acknowledge their companies’ roles in the interdependent global marketplace.

Today’s best companies get it. From Zappos to Whole Foods, the Container Store to Google: they’re generating every form of value that matters: emotional, social, and financial. And they’re doing it for all their stakeholders.

Not because it’s “politically correct”; because it’s the ultimate path to long-term competitive advantage. Conscious Capitalism differs from Corporate Social Responsibility (CSR) by virtue of its origins from within the company as an expression of an overall perspective on how to conceive and build a business, rather than as a response to external notions of what counts as “socially responsible” or external pressure. Conscious Capitalists are unapologetic advocates for free markets, entrepreneurship, competition, freedom to trade, property rights, and the rule of law. They recognise that these are essential elements of a healthy, functioning economy, as are trust, compassion, collaboration, and value-creation. Conscious Capitalism is the system-level effect of a substantial number of companies practicing the four tenets of a Conscious Business as defined below:

The Four Tenets
of a Conscious Business

The Conscious Capitalism movement now includes an expanding community of CEOs and thought leaders globally. The movement has a fast growing presence in Europe as well as in Asia.

1. HIGHER PURPOSE

Conscious Businesses adopt a higher purpose that transcends profit maximisation. A compelling sense of purpose can create an extraordinary degree of engagement for stakeholders and catalyse tremendous organisational energy.

2. STAKEHOLDER ORIENTATION

Conscious businesses are managed for the simultaneous benefit of all of their interdependent stakeholders, including customers, employees, investors, suppliers, the environment and the larger community in which the business participates. By creating value for each stakeholder in various and often differing ways the whole system advances.

3. CONSCIOUS LEADERSHIP

Conscious Leaders adopt a holistic worldview that moves beyond the limitations of traditional machine metaphors for business.  Conscious Leaders see that profit is one of the important outcomes of the business, but not the sole purpose. Most importantly, they reject a zero-sum, trade-off oriented view of business and look for creative synergistic win-win approaches that offer multiple kinds of value simultaneously to all stakeholders.

4. CONSCIOUS CULTURE

The culture is a conscious business is captured in the acronym TACTILE: Trust, Authenticity, Caring, Transparency, Integrity, Learning and Empowerment. The culture of a conscious business can be felt immediately upon walking in its doors.

Inspiring, connecting and supporting the conscious business community in Australia

Conscious Capitalism Australia is a not-for-profit, member-based organisation created to support and advance the growth of the Conscious Capitalism movement in Australia – we are a chapter of the global organisation Conscious  Capitalism Inc.
We recognise that Conscious Capitalism is a relatively new concept in Australia and our goal is accelerate the awareness, understanding and practice of conscious business in Australia.
We work across three key pillars:

Inspire
Tell the stories of Conscious Capitalism and in doing so, inspire Australians about what is possible when we take a more human approach to business.

Connect
Build and grow a learning community of like-minded business leaders, academics, consultants, thought leaders and individuals who are committed to the practice and advancement of Conscious Capitalism.

Support
Provide our community with the support and resources it needs to grow and flourish.