MGT-605 TOPIC 1 DQ1 (11)
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Upper Iowa University *
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Philosophy
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Feb 20, 2024
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Uploaded by ChefOpossum1043
Two companies that have adopted the philosophy of conscious capitalism are Whole Foods and Patagonia. Whole foods credits its success to a management structure based on core values that promote making the world
and lives of people better through corporate social responsible behavior (Cheretis & Mujtaba, 2014). The CEO of Whole Foods, John Mackey, was the person who came up with the philosophy of conscious capitalism, stating that too many companies focus primarily on profits. Whole Foods implements a culture of ethical treatment of employees, customers and the environment. By doing this they keep their shareholders happy but the profit is not the main goal. Whole Foods works with local farmers and food producers to provide customers
with high quality food options that are good for them, which in turn produces a profit. Portions of the profit are
then used to give back to the food producers, non-profits and food banks to help provide resources to communities. The values of the company create a cycle of win-win for the food producers, consumers, employees and the shareholders. Although the company is prospering the goal is not the profits. The goal is the
betterment of society by providing healthy, high quality food to consumers and giving back to society through charitable donations and organizaions that do good within the communities. Patagonia has used similar strategies for their company. What started out as an idea to minimize their impact on the environment by changing rock climbing gear, has turned into bold socially conscious decisions. This includes encouraging contractors to provide child care for workers and donating 1% of their sales to environmental non-profits (Kenney, 2018). Patagonia is socially conscious of the footprint they are leaving on the environment as well as contracting with businesses that provide adequate pay and care to their employees.
The four principles of conscious capitalism align with Christian teachings because at it's basic level it is about the betterment of others before yourself. As a Christian, I was always taught to help others. Conscious capitalism preaches the whole over the individual and to think of a higher purpose. By doing so will create a flourishing and profitable society. Christianity teaches that we should help our fellow man and to find meaning and purpose in our lives. Both concepts want the individual to put the needs of the whole above their own and to think beyond their own self interests.
Mujtaba, C. (2014). Maximizing Long-Term Value and Conscious Capitalism at Whole Foods. SAM Advanced
Management Journal,
79(3),
4-16. https://search-ebscohost-com.lopes.idm.oclc.org/login.aspx?
direct=true&db=bth&AN=101607949&site=eds-live&scope=site
Kenney A. (2018). Patagonia: A case study in managing a mission. Journal of Accountancy
. 226(1),
69-71. https://search-ebscohost-com.lopes.idm.oclc.org/login.aspx?direct=true&db=edb&AN=130449873&site=eds-
live&scope=site
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