Whole Foods Co-Founder John Mackey presents bold new blueprint for free enterprise capitalism in new book
Whole Foods Market is proud to announce the release of Co-founder and Co-CEO John Mackey's book, "Conscious Capitalism: Liberating the Heroic Spirit of Business."
In this book, Mackey and co-author Raj Sisodia, business professor and co-founder of the Conscious Capitalism Institute, boldly defend the good of business and free market capitalism by presenting Conscious Capitalism®—a way of thinking about the higher purpose of a business, its relationships with interconnected stakeholders and the impact it has on the world.
"Free enterprise capitalism has been the most powerful creative system of social cooperation and human progress ever conceived, but its perception and its role in society have been distorted. Now is the time to demonstrate to a skeptical world the truth, goodness and heroism of capitalism rather than perpetuate the false stigmas of selfishness, greed and profit maximization," said Mackey. "We must revolutionize capitalism and show that businesses are the greatest value creators in the world, with the power to elevate humanity upward through continuous improvement."
The book is a new blueprint for capitalism explaining that business is inherently good because it creates value, it is ethical because it is based on voluntary exchange, it is noble because it can elevate our existence, and it is heroic because it lifts people out of poverty and creates prosperity.
It is in part a personal memoir of Mackey's own awakening as the co-founder and co-CEO of Whole Foods Market, and as a capitalist determined to create a better business model. He shares how Whole Foods Market's higher purpose is constantly evolving by tapping into the company's heightened level of consciousness for the good of the business and for society as a whole.
The co-authors show that when reinvented in this way, capitalism is an extraordinarily powerful system of value creation, mutually benefiting all stakeholders involved. In addition to Whole Foods Market, they highlight other well-known conscious companies like Google, Nordstrom, Patagonia, Starbucks and The Container Store that create positive impacts for customers, employees, suppliers, communities and the environment, resulting in exceptional customer experiences, less turnover, lower overhead costs, higher profits, and sustained growth.
"It is a common perception today that if someone wins, someone else must lose, but, business is not a zero sum game; it is actually the ultimate positive sum game," said Sisodia. "We challenge the mindset that stakeholder interests are inherently opposed to one another. When businesses operate with purpose beyond profits and create value for all stakeholders, tradeoffs are largely eliminated, performance is elevated and the entire system flourishes."
Not to be confused with corporate social responsibility (CSR), Conscious Capitalism considers the community and the environment as key stakeholders and integrates them into every business decision. Societal alignment is an organic part of a conscious company's philosophy and operating model, whereas CSR is often added on as a standalone program to ward off criticism or as an attempt to improve a company's reputation.
Profits from books sold at Whole Foods Market will go to the Whole Planet Foundation®, which supports poverty alleviation and entrepreneurship through microcredit in developing countries. Mackey will also donate his royalties to the Foundation.
ABOUT THE AUTHORS:
John Mackey is Co-founder and Co-CEO of Whole Foods Market. He has devoted his life to selling natural foods and to building a better business model. Raj Sisodia is Chairman and Co-Founder of the Conscious Capitalism Institute and a Professor of Marketing at Bentley University. He has authored seven books, including "Firms of Endearment."
SOURCE: Whole Foods Market