I believe our philosophy of conscious capitalism will eventually be widely adopted primarily because it is a better way to do business, and it creates more total value in the world for all of its stakeholders.
John MackeyRead
We believe that business is good because it creates value. It is ethical because it is based on voluntary exchange; it is noble because it can elevate our existence, and it is heroic because it lifts people out of poverty and creates prosperity.
Interpretation
The quote emphasizes the positive impact of business on society and individuals through value creation and ethical practices.
John Mackey's quote highlights the multifaceted nature of business, asserting that it is not only a driver of economic value but also a moral force that operates on the principles of voluntary exchange. He characterizes business as noble and heroic, suggesting that it has the power to enhance human existence and eradicate poverty through the prosperity it generates.
In practice
In a speech about entrepreneurship, highlighting how businesses contribute to society.
I believe our philosophy of conscious capitalism will eventually be widely adopted primarily because it is a better way to do business, and it creates more total value in the world for all of its stakeholders.
I think for leadership positions, emotional intelligence is more important than cognitive intelligence. People with emotional intelligence usually have a lot of cognitive intelligence, but that's not always true the other way around.
Examine our every action through the lens of how we would feel if it were to become front page news.
You can't live if you don't eat, but you don't live to eat. And neither does business exist primarily to make a profit. It exists to fulfill its purpose, whatever that might be.
The idea that in the system, if you manage it in an optimum way, all of the constituent parts of the system also win, flourish, and benefit, is intrinsic to business and even to capitalism itself, properly understood. But people don't understand it because we're not taught to think that way.
When you're thinking about your next product or current product and wondering how to make it different so you don't have competition, understand the job the customer needs to get done.
If the employees come first, then they're happy. A motivated employee treats the customer well. The customer is happy so they keep coming back, which pleases the shareholders. It's not one of the enduring green mysteries of all time, it is just the way it works.
On the simplest level, telecommuting makes it harder for people to have the kinds of informal interactions that are crucial to the way knowledge moves through an organization. The role that hallway chat plays in driving new ideas has become a cliche of business writing, but that doesn't make it less true.
People are the core of every business. Businesses are based on relationships, and relationships are based on people. I would go to an average restaurant run by amazing people over an outstanding restaurant run by awful people.
It is difficult, but not impossible, to conduct strictly honest business.
My own view is that every company requires a long-term view.
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