Conscious Capitalism

In Steven Johnson’s latest book, Future Perfect: The Case for Progress in a Networked Age, he devotes a chapter to “Conscious Capitalism” in which he describes a study that found companies with “fierce brand loyalty among their customers” in spite of (or because of) a lack of traditional marketing. Examples include Wegmans, Whole Foods, and Starbucks. These companies broke from the norm and rather than “considering their ultimate responsibility to be ‘maximizing shareholder value'”, they adopted a decision making strategy that included the interests and needs of customers, employees, managers and local communities. The result was that the companies “outperformed the market by an extraordinary margin.” What might this say about business in the future? Please leave a reply and let us know what you think about this.