John Mackey - Conscious Capitalism: Liberating the Heroic Spirit of Business
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- Book:Conscious Capitalism: Liberating the Heroic Spirit of Business
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In this book, Whole Foods Market cofounder John Mackey and professor and Conscious Capitalism, Inc. cofounder Raj Sisodia argue for the inherent good of both business and capitalism. Featuring some of todays best-known companies, they illustrate how these two forces canand dowork most powerfully to create value for all stakeholders: including customers, employees, suppliers, investors, society, and the environment.
These Conscious Capitalism companies include Whole Foods Market, Southwest Airlines, Costco, Google, Patagonia, The Container Store, UPS, and dozens of others. We know them; we buy their products or use their services. Now its time to better understand how these organizations use four specific tenetshigher purpose, stakeholder integration, conscious leadership, and conscious culture and managementto build strong businesses and help advance capitalism further toward realizing its highest potential.
As leaders of the Conscious Capitalism movement, Mackey and Sisodia argue that aspiring leaders and business builders need to continue on this path of transformationfor the good of both business and society as a whole.
At once a bold defense and reimagining of capitalism and a blueprint for a new system for doing business grounded in a more evolved ethical consciousness, this book provides a new lens for individuals and companies looking to build a more cooperative, humane, and positive future.
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CONSCIOUS CAPITALISM
Full of thoughtful insights. I strongly suspect this will be one of the outstanding business books of the year.
Financial Times
Buy it. Read it. Implement it. Its a true guide to future.
Forbes.com
a persuasive paean to free enterprise. Light on ideology and long on thoughtful analysisa good book to hand to the budding entrepreneur in the family.
Kirkus Reviews
A timely explanation of what is wrong with capitalism and how it can be made right. Recommended for business owners, employees, customers, and investors.
Library Journal
As an HR professional [this book] has helped me realize I need to focus on the business mission and company values to reconcile my professional goals and personal values.
HR Magazine
In stark contrast to todays often pessimistic view of capitalism, Mackey and Sisodia show that companies are perfectly capable of creating more value for all of their stakeholders, from customers, employees, suppliers, and investors to society as whole and the environment.
Business Digest (France)
Conscious Capitalism is in keeping with the ancient wisdom of India as it views leadership as trusteeship: focusing on the right actions and not being unduly attached to outcome.
The Economic Times
The book is an exceptional guide to best practices in organizational leadership. It is refreshing, high on ideals, and has a fair dose of prescription for creating and operating enterprises with a conscience.
Shiv Nadar (Founder Chairman HCL Group) in Business World
Conscious Capitalism builds the case for free market enterprise, driven by a purpose other than profit.
Mint
I would place Conscious Capitalism at the top of my list of good readingby far. Its not just the writing; the intent of the book is very good.
Gilda Chan, Senior Merchandising Planner at Vera Bradley
Capitalism, done consciously, is the most powerful system for uplifting humankind to unimaginable levels of prosperity, peace, and happiness. This book identifies the forces of light and makes an impassioned plea for them. I cant imagine better advocates than John and Raj.
Fred Kofman, author, Conscious Business
In this wonderful antidote to the plethora of recent books on capitalism in crisis, Mackey and Sisodia set out a compelling and inspiring vision of a new form of values-based and purpose-driven capitalism. Essential reading for those who need persuading that the old ways of doing business will simply not suffice.
Paul Polman, CEO, Unilever
I have long believed that companies have a responsibility to balance profitability with a social conscience, yet few leaders have an inherent understanding of just how to do it. In Conscious Capitalism, John Mackey and Raj Sisodia provide a timely, realistic framework so companies can better serve a variety of stakeholders. I highly recommend listening to what they have to say.
Howard Schultz, chairman, president, and CEO, Starbucks
Conscious Capitalism is a welcome explication and endorsement of the virtues of free-enterprise capitalismproperly comprehended, there is no more beneficial economic systemand a simultaneously pragmatic and inspirational extolment of higher purpose and humanism in business. I hail and revere the tenets of Conscious Capitalism!
Herb Kelleher, former Chairman and CEO, Southwest Airlines
This book provides the script for a much-needed different narrative for free-enterprise capitalism. Businesses need to be driven by a purpose higher than maximizing profit, and they must ensure optimal benefits to all stakeholders. Only if that happens can capitalism deliver to all humanity the full societal benefits it is capable of.
Ratan N. Tata, Chairman, Tata Sons
By so clearly and thoughtfully articulating the tenets of Conscious Capitalism, Raj and John have helped me understand the power behind the sustainable success in our business, raising my consciousness in guiding REI forward to serve a new generation of outdoor enthusiasts and environmental stewards.
Sally Jewell, CEO, REI
John Mackeys journey to awakening is an inspiration not just to entrepreneurs, but to anyone who believes in a new definition of success
Biz Stone, Cofounder and Creative Director, Twitter
This is the book I always wanted to write.
from the Foreword by Bill George, bestselling author of True North
Raj Sisodia
Copyright 2014 Harvard Business School Publishing Corporation
All rights reserved
Printed in the United States of America
10 9 8 7 6 5 4 3 2 1
Conscious Capitalism is a registered trademark of Conscious Capitalism, Inc., a nonprofit organization.
No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form, or by any means (electronic, mechanical, photocopying, recording, or otherwise), without the prior permission of the publisher. Requests for permission should be directed to , or mailed to Permissions, Harvard Business School Publishing, 60 Harvard Way, Boston, Massachusetts 02163.
Paperback ISBN: 978-1-62527-175-4
Library of Congress Cataloging-in-Publication Data
Mackey, John, 1954
Conscious capitalism : liberating the heroic spirit of business / John Mackey & Raj Sisodia.
p. cm.
Includes bibliographical references.
ISBN 978-1-4221-4420-6 (alk. paper)
1. Social responsibility of business. 2. Business ethics. 3. CapitalismMoral and ethical aspects. 4. CorporationsMoral and ethical aspects. 5. Social values. I. Sisodia, Rajendra. II. Title.
HD60.M28 2013
174.4dc23
2012025305
To my father Bill Mackey and to my wife Deborah Morinthe two people who have taught me the most in life.
John Mackey
To my children Alok, Priya, and Maya, and my nephews Shiva and Krishna: dont fear the future, but welcome it with love, joy, courage, and optimism.
Raj Sisodia
This is the book I always wanted to write. As a committed capitalist, I worry a great deal to see how capitalism has gone off the rails the past quarter century and acquired such a bad name, much of it deserved.
In this book, John Mackey and Raj Sisodia return capitalism to its roots. They make a compelling case for capitalism as the greatest wealth creator the world has ever known. In these pages, they call their version conscious capitalism. I consider it just capitalism, as it is the only authentic form of capitalism. Other forms of doing business, including crony capitalism, are simply inauthentic versions of the real thing. As we witnessed during the global economic meltdown of 2008 and the Great Recession that followed, these false versions of capitalism cannot be sustained and are doomed to fail over the long term.
I first discovered John Mackeys philosophies when I read his 2005 debate with Nobel Prizewinning economist Milton Friedman about the way capitalism works. Shortly before Friedmans death, Mackey challenged his view that the only responsibility of business is to its shareholders, which financial markets have translated into its short-term stock price. In his widely quoted 1970 treatise in the
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