- Posted July 24, 2014 by
This iReport is part of an assignment:
Bold Ideas About Changes In Capitalism By Doug Rauch On Cutting Edge Consciousness
Capitalism is at the crossroads of two conflicting philosophies—the dilemma of doing well by doing good or doing good by doing well.
“Simply looking to maximize shareholder value is dangerous,” according to Doug Rauch, the former President of Trader Joes, who currently serves as the CEO of Conscious Capitalism, Inc. Getting as much as one can, for as little as possible, is not good business. It seems that these hosts and this guest believe that the world is ready for a new way of doing business, where goodwill is the bottom line and reciprocating is the highest order of business priority.
In a compelling interview with Barnet Bain and Freeman Michaels on the Cutting Edge Consciousness (http://cuttingedgeconsciousness.com) radio program, Rauch stated, “Business, properly executed, is the most powerful system for progress and human cooperation ever conceived.”
Pushed by Bain and Michaels about what constitutes properly executed business, Rauch gave these guiding principles: 1) there must be congruence between the way the business behaves and its stated values 2) the business must have a true purpose, or mission 3) the business must create lasting value 4) the business must optimize value to everyone in the community, including employees, shareholders, customers, vendors, the community at large and the environment and 5) making people your purpose.
When you lead with trust, magic can happen Rauch believes, based on his experience.
There is a moving story in the interview about a woman shopping at Trader Joe’s with her four children before an impending blizzard. The woman forgot her wallet and was unable to pay for the groceries. Rather than embarrass her, or delay the other customers in line, a resourceful cashier paid for the groceries himself, requesting only that the woman pay him back in the future. It’s acts like this that create “citadels of meaning” for customers, Rauch believes.
View the entire interview with Doug Rauch here:
Cutting Edge Consciousness is a weekly radio show that explores bold ideas from the edge of possibility with visionary thinkers. To learn more about hosts Barnet Bain and Freeman Michaels or to see the list of prior guests, go to http://cuttingedgeconsciousness.