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Q1)
In Appendix A, authors Mackey and Sisodia (2014)(Please see attached word doc for chapter info) present a business case for conscious capitalism. They explain that the appendix provides “direct and indirect evidence that conscious companies perform better financially in the long run” (p. 277).
For your initial post this week, consider the direct and indirect evidence they cite, and identify two that you find most compelling. Develop your argument by explaining why those resonate with you. Complete your post by identifying a company that seems to be a good example for your argument.(2-3 Paragraphs)
Q2) Please provide replies to the given two posts(1-2 Paragraphs each)
Post 1:(Taylor)
Today I am checking in at a +2. I am motivated to get through these next two weeks and graduate. I am appreciative of all the opportunities St. Ambrose has offered me over the past years.
Mackey and Sisodia list six direct factors that lead concious companies to superior financial performance: their main goal is not to maximize stakeholder returns, employees experience generous pay and benefits, pay higher taxes, don’t squeeze their suppliers to get the lowest price, invest in their communities, and provide great customer value and customer service. The two that I find most compelling are not squeezing the suppliers and investing in the community. These two resonate most with me because they are occasionally mistreated. Many companies prioritize getting the biggest bang for their buck instead of building and caring for their relationship with their supplier. Investing in the community is a direct investment in its growth and development. Four main indirect factors lead to superior financial performance: superior work environments, highly ethical, flexible stakeholder-oriented cultures, and visionary leaders. The two indirect factors I find most compelling are being highly ethical and having visionary leaders. These resonate with me because many times they get overlooked. The MOL program emphasizes companies being ethical and how it will benefit them in the long run. Being ethical can lead to a superior brand reputation, higher customer loyalty, and lower turnover. “Over time, firms led by visionary leaders significantly outperformed those led by financially focused, autocratic leaders” (Mackey & Sisodia, 2014, p. 281). Patagonia is a company that I think resembles these qualities. They pledged a percentage of their sales to go to the preservation and restoration of the environment. They also guarantee that they make everything them self and take responsibility for their impact. Patagonia touches on all four of the indirect and direct factors that resonate with me. This is one of the many reasons they are successful.
Post 2: Rahdhar
I check in as +2 this week, motivated and happy.
I enjoyed reading Appendix A since it considers factors other than monetary gain in wealth growth. The text offers convincing direct proof based on the fifteen-year performance of a representative sample of publicly listed conscious firms. During that time, these companies beat the S&P 500 index by a ratio of 10.5. The text also references Ethisphere, which annually rewards the most socially aware firms worldwide based on seven criteria. These companies have regularly outperformed the S&P 500, suggesting a strong correlation between ethical behavior and financial performance. This data shows a substantial correlation between conscientious company practices and improved financial outcomes. This interests me because it shows how businesses may be financially successful and contribute positively to the environment and society.
Aflac is a good example of a company that follows ethical business practices and promotes an enjoyable work environment. For the 18th time, Ethisphere has named Aflac one of the World’s Most Ethical Companies. This recognition demonstrates their dedication to openness, sustainability, and ethical workplace behavior. Aflac is known for its excellent work environment, which encourages work-life balance and employee well-being. Furthermore, their initiatives to promote diversity and inclusion have received recognition.
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