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please respond tot he following discussion post a as a peer making a comment. The four main characteristics of conscious capitalism can be defined as:
1. Higher purpose: While profits are essential for a vital and sustainable business, conscious capitalism focuses on purpose beyond profit. The purpose establishes a deeper meaning, which in turn inspires and engages employees, customers, and other stakeholders.
2. Stakeholder orientation: Conscious companies operate with their entire business ecosystems in mind, meaning they concentrate on optimizing equal value for all their stakeholders.
3. Conscious leadership: With a “we” rather than “me” mentality, conscious leaders embrace the company’s purpose, create value for all stakeholders, and inspire actions that contribute to a conscious culture.
4. Conscious culture: Conscious capitalism contributes to a culture of trust, care, and cooperation among the company’s employees and all other stakeholders.
Together, these characteristics can improve an organization’s performance by:
1) Increasing harmony between employers and employees.
2) Greater employee and customer satisfaction.
3) Enhancing stakeholder loyalty.
4) Heightening community engagement.
5) Improvements in surrounding communities and environments (Northeastern University, 2019).
I believe that the current mental health organization where I work can be improved and can benefit from conscious capitalism. I believe that my organization can always work at bettering the relationships between us and our clients, as well as getting the community more engaged to raise awareness for mental health. For example, we can find ways to honor the voices of our stakeholders when making large organizational decisions by asking for their input and by conducting frequent satisfaction surveys. This will ultimately increase harmony between employers and employees, resulting in greater employee and customer satisfaction, and enhancing stakeholder loyalty.
Reference:
Northeastern University. (2019, October 25). What is Conscious Capitalism, and How Does it Differ from Corporate Social Responsibility? Northeastern University D’Amore-McKim School of Business. Retrieved May 30, 2022, from https://onlinebusiness.northeastern.edu/blog/what-is-conscious-capitalism-and-how-does-it-differ-from-corporate-social-responsibility/