Conscious Capitalism: a new spirit in business

Download the article to read all the content on which this summary is based.

The world is changing rapidly, making many old business ideas and methods obsolete. With employees and customers looking for more meaning in their lives, leading organizations today are reconsidering how they conduct their business, and many are turning to a new approach called Conscious Capitalism.

Conscious Capitalism asks whether business can be done with a much broader set of values and with a sense of purpose that goes far beyond making a profit.

In this article, we explain what conscious capitalism is, including its fundamental elements: a corporate sense of purpose, stakeholder rather than shareholder orientation, conscious leadership and conscious culture. We explore how companies are putting it into practice and examine Jacto, a Brazilian company on a conscious journey.

When they discover that they have a conscious competitor, traditional companies are likely to find that their ability to attract customers, employees, investors and suppliers will diminish greatly. Although many traditional companies appear to be big and strong, Conscious Capitalism argues that any business that is out of harmony with the big changes taking place in the world will have serious vulnerabilities.

The article was written by:

  • Carlos Bremer
    Partner, Advisory Services — Value Chain, EY, Brazil
  • Raj Sisodia
    FW Olin Distinguished Professor of Global Business and Whole Foods Market Research Scholar in Conscious Capitalism, US

Read the full articlepdf484.26 kB

EY refers to one or more of the member firms of Ernst & Young Global Limited (EYG), a UK private company limited by guarantee. EYG is the principal governance entity of the global EY organization and does not provide any service to clients. Services are provided by EYG member firms. Each of EYG and its member firms is a separate legal entity and has no liability for another such entity's acts or omissions. Certain content on this site may have been prepared by one or more EYG member firms