Leo Durocher’s statement, “Nice guys finish last”, as applied to the business world, must have had a degree of accuracy in days gone by. In recent years, as asserted by Jennifer Martin, this concept has been undergoing modification.
Jenny was present at the creation of the first local chapter of Conscious Capitalism. While there is a national chapter, attended by CEOs in high places, there are many that anyone can join. Conscious Capitalism (henceforth CC) has a stated principle of marketing strategies to benefit humanity and the environment.
The points made by Jenny include: –The aging population has cast a buffering effect upon the tempestuousness of youth. –More wisdom, as imparted by more grandparents than have heretofore existed, is influencing the younger generation. –Born from this shift in values has arisen CC. with its concept of treating people, specifically employees, in a good manner. –CC bases its business principles on four pillars, to wit,
- A higher purpose than just making money,
- How best to treat one’s workers
- Conscientious leadership, in which the mindset of the leader affects all others
- Stakeholder orientation, an idea that it is not altogether necessary to dominate the market.
In short, the goal is to do well by doing good. This also extends to treatment of vendors and even perhaps collaborating with the competition. –It now seems that CC companies are outperforming others and the S&P –Surveys show that people shun companies known to be irresponsible and would change to those that align with their values. Consumers find out about these things. –The huge discrepancies between executive and employee salaries are being addressed with a view to placing a ceiling on this ratio. –Paying employees well inspires loyalty. It offers them autonomy and a purpose. –Decentralization of power vs. the old hierarchical method has merit.
Summarizing: Good will, while not tangible, is worth its aureus weight