In the video Conscious Capitalism John Mackay explains that Whole Foods is a conscious business. He explains several (if not many) of these core values. Explain at least four of these principles. Two of the principles to explain in detail are: What is WFM’s highest purpose? and focus on synergy.
(ALSO I NEED THE ANSWER BEFORE 5:10 EST TIME OR I CANNOT USE IT)
The four principles of Conscious Capitalism by John Mackay are:
1) Conscious culture : Culture is a concoction of values, principles and practices which is closely knit by a fabric called business, that connects stakeholders to each other which disseminates through the company’s purpose, people and the processes.
2) Conscious leadership – Conscious leaders always focus on ‘we’ rather than ‘me’. They inspire, transform, foster, and bring out the best in those who are around them. They inspire loyalty and consistent high performance in their teams. They understand that their role is to serve the purpose of the organization, to support the people within the organization and to create value to all the stakeholders of the organization.
3) Stakeholder orientation – Conscious leaders very well know the importance of taking into account all the stakeholders. Conscious businesses focus on their whole business ecosystem. They recognize that without the employees, customers, suppliers, funders and supporting communities, there is no business. Hence they focus on the win-win proposition in the business ecosystem.
4) Higher purpose – Finally, the company should be in the business to do more than just money. Successful leaders realize that in order to become successful, they should deliver true value. Conscious businesses focus on their purpose beyond profits.
Whole Foods Market’s highest purpose is “to try to change and improve the world”