AmiSight 4/11: Demystifying Stakeholder Capitalism and Helping Build Thriving Stakeholder Businesses
In today’s podcast, MultiFunding President Lynn Ozer, aka SBA Queen, and I talk to Kent Gregoire, Co-Founder of Stakeholder Business, which is on a mission to help entrepreneurs transform their companies for maximum impact. In addition to his work with Stakeholder Business, he is also the Founder and CEO of Symphony Advantage. Being one of seven certified conscious capitalism consultants around the world, Kent wants to create more opportunities and solve more problems for stakeholders. The main topics of today’s discussion will be conscious capitalism and stakeholder capitalism.
"Conscious capitalism is a way of being able to express, through business, how to elevate humanity to solve worthy problems for society and the planet," he explains. "Conscious capitalism itself is also a theory where stakeholder capitalism becomes the practice around creating companies that not only just say they do good, but their representation of what is happening is also doing well for other people."
While it may seem that conscious capitalism consists simply of giving a percentage of profits to a particular charity or creating a foundation, Kent says it goes deeper than that. It is a deliberate operating model set in place from the get-go rather than waiting to see if the business turns a profit. And it doesn't just have to relate to sharing profits.
"You can engage your stakeholders to help them innovate, find out what their purpose is, help your stakeholders be successful," he said. "If your stakeholders are successful, it's going to help you innovate in your organization, help you get access to products from other organizations faster, and help you with retention."
Learn more as Kent explains the five elements of stakeholder capitalism and how it changes business for good. Click here to listen.