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Conscious Capitalism, With a New Preface
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As seen on Oprah’s Super Soul Sunday
The bestselling book, now with a new preface by the authors
At once a bold defense and reimagining of capitalism and a blueprint for a new system for doing business, Conscious Capitalism is for anyone hoping to build a more cooperative, humane, and positive future.
Whole Foods Market cofounder John Mackey and professor and Conscious Capitalism, Inc. cofounder Raj Sisodia argue that both business and capitalism are inherently good, and they use some of today’s best-known and most successful companies to illustrate their point. From Southwest Airlines, UPS, and Tata to Costco, Panera, Google, the Container Store, and Amazon, today’s organizations are creating value for all stakeholders—including customers, employees, suppliers, investors, society, and the environment.
Read this book and you’ll better understand how four specific tenets—higher purpose, stakeholder integration, conscious leadership, and conscious culture and management—can help build strong businesses, move capitalism closer to its highest potential, and foster a more positive environment for all of us.
- Sales Rank: #7928 in Books
- Published on: 2014-01-07
- Original language: English
- Number of items: 1
- Dimensions: 8.25" h x 5.25" w x 1.00" l, .70 pounds
- Binding: Paperback
- 368 pages
From Booklist
Mackey and Sisodia, leaders of the corporation Conscious Capitalism, describe the movement in the context of Mackey’s reflections as cofounder of Whole Foods Market. The term conscious capitalism refers to businesses that serve the interests of all major stakeholders—customers, employees, investors, communities, suppliers, and the environment. Mackey’s realization of conscious capitalism began on Memorial Day 1981, as the fledgling Whole Foods Market was basically wiped out by a flood. Unexpectedly, dozens of customers and neighbors showed up to help; employees worked for free, not knowing if the store would survive; suppliers resupplied on credit; investors stepped up, too, and the Whole Foods Market’s bank loaned it money to restock; the store reopened in 28 days. Following two introductory chapters, part 1 covers purpose; part 2 is about stakeholders; part 3, conscious leadership; and part 4, conscious culture and management. Mackey and Sisodia cite companies such as Southwest Airlines, Google, the Container Store, Whole Foods Market, and Nordstrom as embracing this sound vision of reality. A very solid examination. --Mary Whaley
Review
“It's as much about management as about philosophy.” — Drake Baer, Business Insider
Praise for the hardcover edition of Conscious Capitalism, a New York Times and Wall Street Journal Bestseller:
“Full of thoughtful insights.” — Financial Times
“Buy it. Read it. Implement it. It’s a true guide to the future.” — Forbes.com
“I highly recommend listening to what they have to say.” — Howard Schultz, chairman, president, and CEO, Starbucks
“This is the book I always wanted to write.” — Bill George, bestselling author, True North
About the Author
John Mackey is co-CEO and cofounder of Whole Foods Market and cofounder of the nonprofit Conscious Capitalism, Inc. He has devoted his life to selling natural and organic foods and to building a better business model. Dr. Rajendra (Raj) Sisodia is cofounder and trustee of Conscious Capitalism, Inc. and professor of marketing at Bentley University. He has authored seven books, including Firms of Endearment.
Most helpful customer reviews
124 of 146 people found the following review helpful.
Doing Well by Doing Good!
By Kevin Currie-Knight
In the October 2005 issue of Reason Magazine, John Mackey, Milton Friedman, and T.J. Rogers debated whether businesses had any larger social responsibility than to maximize profits for shareholders: Mackey was the lone voice for the affirmative. 7+ years later, Conscious Capitalism can best be thought of as an extension and years-later elaboration on Mackey's argument. This book is one part spirited defense of free market capitalism and several parts description of how businesses can and should become more aware of ALL stakeholders (shareholders, workers, customers, distributors, the environment and the community.)
Before going into the how-to's, Mackey starts with a spirited but brief defense of market capitalism. Mackey recounts how he started as a co-founder of a co-op, but left largely because others' political agendas - largely, anti-market - prevented, in Mackey's judgement, the co-op from serving its customers well. Mackey built the store that would come to be Whole Foods and discovered the potential of markets and market transactions to change people's lives. (Lest we forget, markets are less about exploitation and zero-sum thinking than they are about voluntary positive-sum transactions, each party providing what the other wants.) Sadly, when most of us think of market capitalism, we tend to think of Ayn-Rand-like glorification of selfishness and greed as well as economic reductionism (reducing everything to purely economic calculation sans 'the human element.') Needless to say, this is a perception Mackey rightly wants to change.
The rest of the book - the meat and potatoes - are about Mackey's conception of "conscious capitalism" - companies who do well by doing good. Mackey's favorite examples: Google, Amazon, Costco, Southwest Airlines, The Container Store, and (who else?) Whole Foods Market. These are companies who do well by workers, customers, distributors, investors, and other shareholders. They are driven by purpose and vision, create a good culture internally and externally, have good values-focused leadership, and can easily answer the question "What difference would there be in the world if we didn't exist?"
The book examines how these (and other) companies exemplify conscious capitalism's four tenets: (a) have and keep to a strong vision for the company, (b) have value-focused leadership, (c) try as best as you can to take care of all stakeholders (investors, workers, customers, etc) rather than seeing them as antagonistic to each other, (d) create a strong culture internally and externally. Whole Foods, for instance, has a strong mission of bettering people's eating habits. Southwest Airlines has always gone out of its way to create a good and relatively egalitarian work environment. Google cares as much about creating beneficial tools that people can use as it does about increasing profits. Etc.
One of the areas Mackey touches on in the book's appendix, but I wish he'd focus on more - is convincing us that businesses practising conscious capitalism can be successful while doing good things. His appendix cites some good data available elsewhere, but doesn't really go much into that data. (And one has to wonder, if conscious capitalism is a good business strategy, why haven't more folks been 'doing' it a long time ago? After all, markets reward those who are successful. Jack Welch - about whom Mackey has nothing remotely positive to say, with good reason - successfully ran General Electric for many years with his very unconscious capitalism.) Of course, it does make sense that treating stakeholders well is good for business (customers will support those who treat them weil, workers will work harder and stay longer when they are happy, etc.) But I couldn't really see a skeptic being very convinced by this book. (One objection not spoken to: Mackey is clear that conscious capitalism sometimes requires sacrificing short-term gains for long-term gains, but, will one really be able to secure investors, pay distributors fairly, etc, if one is quick to subordinate short-term gains to anticipated long-term gains?)
Anyhow, this book was a pleasure to read. It is refreshing to see an author like Mackey defending the idea that one CAN do well by doing good, one CAN do good things for others and (unapologetically) make a profit. To this reader, at least, this is what capitalism and markets are supposed to be: companies and consumers voluntarily making positive sum transactions producing "mutual gains from trade."
23 of 24 people found the following review helpful.
This book should be required reading in all business schools.
By GKD
I found this book to be enormously inspiring. When I finished it, I felt as though I'd had an evangelical experience. It makes you wonder why business hasn't always been conducted in this way. I guess the answer is, because we didn't know any better. We had to evolve to this point, just as we've stopped pouring industrial waste into our rivers and no longer x-ray our feet at the shoe store.
I'm no tree-hugger. I'm not even that much of an environmentalist, but I do recognize a good idea when I read about it. We have a responsibility to our planet and to each other to make this world the best it can be. John Mackey may have amalgamated the ideas of a lot of other people, and he may even have co-opted the term "conscious capitalism" from Muhammad Yunus (I did my homework), but he deserves an enormous amount of credit for what he did do, i.e. put these ideas into practice and then bring them to public consciousness by writing his book.
I didn't know much about Mackey before reading the book, only what was in the news a few years ago about his postings on the Yahoo! message boards. At the time I thought his behavior reprehensible, but given that no charges were filed and that the buyout of Wild Oats was allowed to proceed (and now reflecting on his account of the events), I am inclined to believe that the "news" we were given was incomplete and more than a little tainted by the usual media spin.
In summary, I am completely taken with Mackey's ideas as expressed in his book and can only hope that the world takes notice. I must confess that as I read it I did have a sudden urge to break into a chorus of "Kum Ba Yah" from time to time. It can come across as a bit treacly. But it is a hopeful paradigm for the future of business.
87 of 105 people found the following review helpful.
Conscious Capitalism
By William and Melanie Grossman
I would not usually read a book like this. I'm a social worker, not a business person, but I am a Whole Foods fan, and go there just for the boost I get from the positive energy that abounds there. Truth be told, my daughter persuaded me to give the book a chance. I'm glad I did... As someone who has never worked in industry, the book helped me re-examine some of my premises, but did so in a non-judgmental or threatening way. I have dedicated my life to helping others, and this book showed how a conscious business can do the same, not by taking advantage of customers and employees, but by providing them with goods and opportunity they voluntarily wish to exchange time and money for. Not sure I am willing to change my political stripes at this point, but I did enjoy the opportunity to hear a different point of view explained with compassionate concern.
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