‘People want to believe this is possible’
Companies practising conscious capitalism have a deeper meaning and purpose than profit
Tuesday July 14, 2009 -- Jennifer Higgs
People everywhere who hear about conscious capitalism respond that it is an inspirational message, says Bentley University professor of marketing and conscious capitalism author Rajendra Sisodia.

“The response to this message everywhere is universal, people want to believe this is possible,” he says.

Companies that practise conscious capitalism have fewer unintended consequences, are far more successful in the world and know there is a broader definition of success, Sisodia says.

“Their business life and their personal life don’t have to be at odds; their values systems don’t have to be left at home . . . all those messages are very compelling as well as affirming to people because they are hungry for these messages.”

Conscious capitalism businesses have a purpose that transcends profit maximization, are managed for the benefit of stakeholders, and are led by spiritually evolved and self-effacing leaders.  

People have a yearning for a higher meaning and a deeper purpose than financial results, says Sisodia, noting he often hears from people that the conscious capitalism message is spiritual as well.

Having recently returned from speaking engagements in Europe and India, Sisodia says society in North America is moving faster towards conscious capitalism than other parts of the world because of the difference in demographics.

The median age in North America is higher and there is a greater role of women in society, which are driving factors for the conscious capitalism movement. An aging population leads to a changing of value systems for mid-life and beyond, which is about purpose, legacy and spirituality, he says.

In terms of the level of consciousness, he says there are more companies in North America and Europe practising conscious capitalism than in India or China or Korea.

“I think at some level ultimately it becomes about consciousness and awareness, so once you become aware of these ways of thinking it doesn’t matter how old you are or whether you are male or female, you could start to see things differently,” Sisodia says.

Sisodia is the author of The Rule of Three: How Competition Shapes Markets and Firms of Endearment: How World Class Companies Profit from Passion and Purpose.

Related Article:
The world is ready for the message of conscious capitalism: Sisodia

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