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Conscious Capitalism: A New Business Paradigm John Mackey, CEO Whole Foods Market Tulane University October 2009. Do We Need a New Business Paradigm?.
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A New Business Paradigm
John Mackey, CEO
Whole Foods Market
Which of these great purposes will be at the core of your own organization?
The Whole Foods Conscious Business Model: Holistic Interdependence
Leadership at a Conscious Business means thinking about the business very differently
It means focusing not on tradeoffs between stakeholders, but on the potential synergies that exist between them
One’s creative mind doesn’t think Zero Sum or Win-Lose, but rather Win-Win-Win-Win-Win-Win
Different types of questions are posed and therefore different types of solutions are discovered and created
The human mind is infinitely creative. Conscious Capitalism creates new pathways to unleash human creativity.
Creative Entrepreneurs and Conscious Capitalists can solve all the world’s problems
One example: The Whole Planet Foundation
1Selling the highest quality natural and organic products available2Satisfying & delighting our customers3Supporting team member happiness & excellence4Creating wealth through profits & growth5 Caring about our communities & environment 6 Encouraging win-win partnerships with our suppliers 7We actively promote the health, well-being, and longevity of our stakeholders through education about healthy eating
Whole Foods Market’s deepest purpose is:Changing & Improving the World
Happy Customers = Happy Investors
U.S. CEO pay as a multiple
of average worker’s
Data Source: Business Week (1980-2000) and Institute for Policy Studies-United for a Fair Economy (2007).
Estimated distribution of options outstanding as of 2005 in the U.S.
Distribution of WFM options granted as of 2005
Top 16 Execs
Top 5 Execs
Data Sources: Institute for Policy Studies-United for a Fair Economy (2006), Profits with Principles (2004)
Source: World Bank (constant 2003 dollars)
More than $2,780,000 loaned out—54 total loans
Mudslinger’s Freestyle (NC)
Full Circle Farms (RM)
Holy Cow Beef (SW)
3L Farms (S)
Buzz’n Bee (FL)
Red Jacket Orchards (NE)
Laughing Giraffe Organics (SP)
Provide innovative assistance for entrepreneurship through direct micro-credit loans
Unleash the energy and creativity of every human being to contribute to prosperity in emerging economiesWhole Planet FoundationGlobal Citizenship
14 Countries Now
Costa Rica, Guatemala, Nicaragua, Honduras, Haiti, Peru, Queens, NY, Nepal, India, East Timor, Thailand, Indonesia, Kenya, Ethiopia
$16+ M loaned out
Loans used for:
Agriculture & livestock
Nepal & India
The Conscious Non-Profit Organization Model: Holistic Interdependence
Creative Love is the “Golden Mean” which ends the false dichotomy between egoism & altruism
Love of self
Love of others
Daniel Yankelovich, Profit with Honor: The New Stage of Market Capitalism
From This To this
Only shareholders win All stakeholders win
Zero Sum Win-Win-Win-Win
Conflicts of interest Harmony of Interests
Exploitative Creating Value
Not Trusted Trusted
Conscious Capitalism—New Paradigm for the 21st Century