On today’s episode, we’re talking about “Conscious Capitalism” — a philosophy stating that businesses should serve all principal stakeholders, including the environment. It does not minimize profit-seeking but encourages the assimilation of all common interests into the company’s business plan.
Did you know that there over 1.5 million nonprofit organizations in the U.S. alone?
Did you also know that over 700 of them go out of business every single day?
That sad truth is that these nonprofit organizations, along with many “for profit” organizations as well, fail because they don’t know how to maximize both of the necessary bottom lines — Social impact AND profit.
The nonprofits’ good intentions are capped and undermined due to a lack of financial resources, while the large corporations acquire an abundance financial resources at the cost of the well-being of their employees, their consumers, the greater society, and the environment.
Nonetheless, companies like Sevenly, Toms shoes, and Panera are breaking the current system and doubling down on BOTH their bottom lines for the good of all.
A new wave of conscious capitalism is on the rise.
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