As far as we have come in making terms like social entrepreneurship and conscious capitalism commonplace in business jargon, they are still far-fetched concepts to many and may even sound oxymoronic.

The bulk of what has been written about business invokes a sense of disunion between the worlds of ‘capitalism’ or profit generating and that of the overall betterment of the global society at large. If we are simply seeking to make a profit then how are the non-stakeholders to be benefited? How can there be a greater mission-driven purpose underlying those profits?

When we think of the term ‘conscious’ or rather, ‘consciousness’ we are met with ideas related to self-development and awareness, mindfulness, unity and human equality. Opposingly, the term capitalism invokes sentiments related to wealth, power, ambition, materialism, economic disparity and separateness.

It can prove difficult for many to believe that major corporations are actually operating with a socially conscious mindset and mission and frank questions of why they would even elect to do so. The book Conscious Capitalism: Liberating the Heroic Spirit of Business, written by Whole Foods CEO and co-founder and Raj Sisodia, professor at Bentley University, popularized the concept of creating a business with a deeper rooted socially conscious mission. Essentially bridging the gap between our ability to run profitable, sustainable enterprises while keeping to a mission related to living consciously with the broader social good at benefit.

Moreover, the conscious capitalism paradigm highlights that not only can these seemingly opposing concepts co-exist, but by focusing on a greater social mission beyond that of pure profits, profitability can actually increase and a stronger market presence and overall sustainability for the business enterprise be garnered. Thus, providing innovation while working towards social good is actually a key tenet in a successful business.

The beauty behind this paradigm is that it is agnostic to both industry and business size. This concept can aid both large-scale corporations as well as small, start-up entrepreneurs in flourishing both financially and socially consciously. Many people still view social entrepreneurs as business philanthropists of sorts and equate the concept with limited notions related to sustainability and ‘giving back’. Yet the world of social entrepreneurs practicing capitalism ‘consciously’ have learned that this is simply a healthier, enhanced way of making money and in the overall success and performance of a business-specifically 10x better. 

And there we have it, an economic evolution. And a win-win.

“We need red blood cells to live (the same way a business needs profits to live), but the purpose of life is more than to make red blood cells (the same way the purpose of business is more than simply to generate profits).”

-Edward Freeman-Business professor and board member of Conscious Capitalism Inc.

Cover art by Banksy