The Global Phoenix - Issue 3 August 2017 | Page 11

So we need to rewrite the philosophy of capitalism to get
back to the founding principles which have been such a
power for good in the world, and using the principles of
conscious capitalism are an excellent way to achieve just
that. The philosophy is built on four primary ideas:
1. Higher Purpose
2. Stakeholder Integration
3. Conscious Leadership
4. Conscious Culture and Management
Higher Purpose
In the context of conscious capitalism,
higher purpose refers to the
difference that the company is trying
to make to the world (Mackey, 2012).
Higher purpose asks four questions:
1. What will the world look like
when we have achieved our
higher purpose?
2. What are the principles we
will hold onto regardless of
changes in the marketplace?
3. What is the reason for the
organisations’ existence
beyond making a profit?
4. How do we convey our value
and purpose to external
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