ThroughConscious Capitalism, the purpose is considered before profits. It isbelieved that having a balance of all the needs of the businessstakeholders is the right thing that needs to be done and ultimatelyends up being profitable and successful in nature. The businessstakeholders, in this case, include employees, customers, suppliers,community, and shareholders. The selected team embodies the values ofconscious capitalism as two issues guided the focus on the choice ofthe team (Simpson, Fischer & Rohde, 2013). The issues includehaving employees considered and then provision of outstandingcustomer experience. These two guiding principles are bothsignificant to the second tenet given that both customers andemployees are stakeholders.
Thetraits that the chosen individuals have reflect the vision of thecompany matches with the higher purpose of the firm and focuses onvalue delivery to the stakeholders. The choice of leadership is, infact, incorporating the traits that go beyond the limits of theconventional business (Simpson, Fischer & Rohde, 2013). Theuniqueness and complementary roles that each of the individuals playsis instrumental to the organization. The values and the mission ofthe business also guided the choice of the individuals (Simpson,Fischer & Rohde, 2013).
Thestakeholders, in this case, include the employees, the investors,customers, suppliers and the communities where business runs (Amit &Zott, 2012). Through value creation to all the stakeholders, there isan advancement in the entire business. Value is created throughengaging all the stakeholders and ensuring that all the needs of eachstakeholder are incorporated. Having this team in place willtranslate into increased profits and better customer service. Therewill be increased awareness of the environment where the businessoperates hence corporate social responsibility (Amit & Zott,2012).
Amit,R., & Zott, C. (2012). Creating value through business modelinnovation. MITSloan Management Review, 53(3),41. Retrieved fromhttp://sloanreview.mit.edu/article/creating-value-through-business-model-innovation/[Accessed 09/11/2016].
Simpson,S., Fischer, B. D., & Rohde, M. (2013). The conscious capitalismphilosophy pay off: A qualitative and financial analysis of consciouscapitalism corporations. Journalof Leadership, Accountability and Ethics, 10(4),19. Retrieved fromhttp://www.na-businesspress.com/jlae/simpsons_web10_4_.pdf [Accessed9/11/2016].