Co-CEO of Whole Foods Market, John Mackey recently co-published a book called, “Conscious Capitalism: Liberating the heroic spirit of business” which speaks of the supposedly new business paradigm and how to implement it. It presents a different way of thinking, speaking and acting in the work environment; conscious capitalism. The book conceptualizes expositions of values, thought patterns and most importantly accepts the criticism of the current practices for capitalism.

Businesses now a days value profit maximization and treat all participants in a poor manner. Though these businesses succeed in creating prosperity in the short run, long run problems are dysfunctional and causes these businesses to lose more money than they make. In addition to creating sensible values for stakeholders, the Conscious Capitalism theory excels in the financial department.  Mackey wants businesses to believe that the true purpose of a business is to create value for stakeholders and improve our lives; rather than profitability. The article on Forbes goes on to say that business concepts today are cancerous, in addition to providing insight on the purpose in educating consumers, continuous innovation, competition, marketing and the consciousness of a practice.

The analytical power derived from this book can be seen as similar to that of the many tools we have learned in class. I believe that this shift towards the Conscious Capitalism theory will slowly better business ethics and allow businesses to see past money, but rather, the people.

The New Management Paradigm by John Mackey  – Forbes