Stakeholder Orientation Response
Stakeholder Orientation Response essay paper help
Stakeholder Orientation Response essay assignment
Please respond to the following discussion post as s peer making a comment. The idea of conscious capital was created by the creator and co-founder of Whole Foods, John Mackey, and marketing professor Raj Sisodia; the idea of conscious capitalism is that businesses should pursue profits ethically and seek to serve all stakeholders, including employees, humanity, and the environment not just management teams and shareholders (Kenton, 2022). Conscious capital has four guiding principles:
Higher Purpose – The principle that businesses should engage and inspire key stakeholders, not just purely focus on profits.
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Stakeholder Orientation – Businesses should consider all those who are affected by the business’ stakeholders which may include employees, clients, suppliers, vendors, creditors, and labor unions; Stakeholder orientation encourages businesses to also consider their surrounding environment and community to include job creation or loss, public health, occupational safety, and economic development (GCU Business & Management, 2021).
Conscious Leadership – Conscious Leadership emphasizes the cultivation of culture within the business. This places a focus on the success of all stakeholders and for organizational leaders to serve the people they work with, employees, and the community the organization serves.
Conscious Culture – Conscious Culture incorporates the value of the business and its daily operation and employs a model that is focused on advancing community while using established business principles. A conscious culture seeks to enrich the lives of the people you do business with and develop strong mutually beneficial relationships with vendors customers and employees (Tindell, 2014).
The organization I currently work for could benefit from conscious capitalism as it places an emphasis on all stakeholders and adds elements such as trust, compassion, collaboration, and values. Specifically, my organization could use conscious capitalism to place a higher value on its current employees. As we continue to see many healthcare organizations suffer staffing shortages over the past few years, the model of conscious capitalism could establish my organization as a place where employees are highly valued. A higher emphasis on conscious culture could retain current employees and draw in highly skilled professionals that would seek this organization because of the value placed on all employees.
References:
GCU Business & Management. (2021, June 1). The Tenets of Conscious Capitalism. GCU. https://www.gcu.edu/blog/business-management/tenet…
Kenton, W. (2022, February 24). What Is Conscious Capitalism? Investopedia. https://www.investopedia.com/terms/c/conscious-cap…
Tindell, K. (2014, October 15). The Importance of Culture When Starting Up. Entrepreneur. https://www.entrepreneur.com/article/238549