Here Comes Conscious Capitalism
I’ve taken a break from writing peHUB posts to explore Conscious Capitalism, which is emerging as the next big thing in business. Briefly, Conscious Capitalism has three key principles that set it apart from the current variant of capitalism practiced around the globe. First, a company has a deeper meta-purpose in addition to maximizing profits. Second, a company recognizes this it is a complex ecosystem comprised of numerous interdependent stakeholders and not just the traditional limited duality of management and stockholders, and delivers value to all stakeholders. Third, the CEO is the steward of his company and its ecosystem working for the benefit of all the stakeholders, not just for his own enrichment. The deeper I got into the world of Conscious Capitalism, the more I realized that it was strangely familiar. The progenitors of the venture capital industry like General Georges Doriot practiced venture capital by intuitively using these principles. To make money in venture capital, their focus was on building great businesses. Entrepreneurs like David Packard and Walter Hewlett understood that building a great business inherently required following the principles of what is now called Conscious Capitalism.
