The Marriott Hotel was the site of the 2015 Conscious Capitalism Conference, an event designed for CEOs and their leadership teams, corporate executives and entrepreneurs. Conscious Capitalism is a movement that is gaining traction worldwide. The purpose of this non-profit group furthers the idea that capitalism is the most successful form of human social cooperation, and to form like-minded communities of “Conscious Capitalists” who recognize and teach a key principle, that business needs to create more than just revenue. It must harmonize the interests of all stakeholders – customers, employees, vendors and investors – in order to elevate humanity.
What the Four Principles of Conscious Capitalism mean to ACE
As an early member of the Conscious Capitalism movement, ACE CEO Jean Pitzo has been a proponent of its founding principles. Asked to speak at the event was an honor. Jean said, “Conscious Capitalism has four principles; Higher Purpose, Stakeholder Orientation, Conscious Leadership and Conscious Culture. Basically, these are about a belief that when you build an organization based on trust and respect for people, you are able to truly unleash potential. Everyone understands that to succeed individually and collectively, you must share, learn and grow together.”
At ACE, that begins with a recognition that taking great care of customers starts with taking great care of employees. She spoke about her path at ACE and the potential role for Conscious Capitalism going forward. This includes continued adoption of the Four Principles:
“Conscious businesses” focus on a purpose beyond profit. A “Conscious business” inspires, engages and energizes its stakeholders, employees, customers and others to trust and even love companies that have an inspiring purpose. This is essential for the vitality and sustainability of a business.
“Conscious businesses” focus on their whole business ecosystem, creating and optimizing value for all. Without a life-sustaining ecosystem, the business cannot thrive. It begins with building an trusting and interconnected web of relationship.
“Conscious leaders” see through the lens of “we”, rather than “me.” They bring out the best in those around them. They understand that their role is to serve the purpose of the organization. Beyond generating revenue, this includes generating trust and fostering a healthy culture.
In the words of business mentor, Peter Drucker, “Culture eats strategy for lunch.” So values, principles and practices must be woven into the fabric of a business, driving its actions. A “Conscious culture” fosters love, care and mutual trust between team members and other stakeholders. This is the unifying force that truly brings Conscious Capitalism to life.
For more information on Conscious Capitalism, visit http://www.consciouscapitalism.org