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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Conscious Capitalism summary
Liberating the Heroic Spirit of Business
7 mins
Brief summary
Conscious Capitalism by John Mackey and Raj Sisodia is a thought-provoking book that argues for a more ethical and sustainable approach to business. It explores how businesses can create value not only for shareholders, but also for employees, customers, communities, and the environment. By embracing a conscious approach, businesses can achieve both financial success and societal impact.
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Conscious Capitalism
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There’s a better way
Over the last 200 years, free-enterprise capitalism has created extraordinary prosperity and innovation that has transformed life for billions of people. In just two centuries, businesses and entrepreneurs have helped increase global per capita income by 1,000 percent and the average life expectancy has risen from 30 to 68 years. Capitalism has enabled billions to earn a living and find meaning by creating value for others.
Despite these achievements, capitalism has earned little affection. It’s often vilified as exploitative and blamed for problems like inequality, community fragmentation, and environmental degradation. The reputation of business has suffered as a result. For example, Americans’ confidence in big business had declined from 34 percent in 1975 to just 19 percent by 2011.
Why this disconnect? A root issue is that too many businesses operate with low consciousness about their true purpose and impacts. In a narrow pursuit of profits, some companies have caused unintended negative consequences for people, communities, and the planet. Many businesses fail to recognize their significant environmental and social impacts, treating these as externalities.
Within companies, symptoms of dysfunction abound, like low employee engagement, stagnant wages contrasted with exorbitant executive pay, and lack of workplace solidarity. It’s understandable that the reputation of business has suffered.
That’s why we need better business practices: the path forward is to operate with greater consciousness of purpose and impact. Conscious leaders deliver value to all stakeholders – treating employees, partners, customers, and communities not as merely means to an end, but as ends in themselves. They build trusting relationships and understand the human elements of business, like creativity, collaboration, and a sense of higher purpose. Conscious businesses seek to create financial, intellectual, social, cultural, emotional, spiritual, physical, and ecological wealth. They have a deeper purpose that goes beyond short-term profits.
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What is Conscious Capitalism about?
Conscious Capitalism (2013) outlines a new vision of enlightened business built on higher purpose that serves all major stakeholders, not just shareholders. It provides insights and examples for creating passionate, value-driven corporate cultures that bring out the best in people.
Conscious Capitalism Review
Conscious Capitalism (2013) by John Mackey & Raj Sisodia explores the idea of a new kind of capitalism that benefits both business and society. Here's why this book is worth reading:
- It presents a refreshing perspective on capitalism, showing how businesses can be a force for good in the world by prioritizing purpose and stakeholder value.
- With compelling case studies and real-life examples, it highlights companies that have successfully embraced conscious capitalism, offering practical insights for business leaders.
- The book challenges the traditional view of capitalism, provoking thought-provoking discussions about the role of business in society and encouraging readers to think differently about business and its impact.
Who should read Conscious Capitalism?
- Business leaders seeking purpose
- Executives wanting to inspire employees
- Entrepreneurs aiming for positive impact
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Conscious Capitalism FAQs
What is the main message of Conscious Capitalism?
The main message of Conscious Capitalism is that businesses should prioritize purpose and stakeholder value to create long-term success and positive impact.
How long does it take to read Conscious Capitalism?
The reading time for Conscious Capitalism varies, but it typically takes several hours. However, the Blinkist summary can be read in just 15 minutes.
Is Conscious Capitalism a good book? Is it worth reading?
Conscious Capitalism is a valuable read for anyone interested in creating a business that serves a higher purpose. It offers insights and practical guidance for building conscious organizations.
Who is the author of Conscious Capitalism?
The authors of Conscious Capitalism are John Mackey and Raj Sisodia.
What to read after Conscious Capitalism?
If you're wondering what to read next after Conscious Capitalism, here are some recommendations we suggest:
- The Young Entrepreneur by Swish Goswami & Quinn Underwood
- Innovation in Real Places by Dan Breznitz
- AI for Business Leaders by Michael Ramsay
- Conscious Business by Fred Kofman
- The Subtle Art of Not Giving a F*ck by Mark Manson
- The 15 Commitments of Conscious Leadership by Jim Dethmer
- Tools of Titans by Tim Ferriss
- You Don't Need a Budget by Dana Miranda
- Conscious Leadership by John Mackey
- The Myths of Innovation by Scott Berkun