Conscious capitalism goes beyond CSR (corporate social responsibility) by placing society’s needs at the forefront. In addition, efforts to service society and view society as a stakeholder is embedded in the corporation’s objectives. Therefore, conscious capitalism is viewed as a paradigm change where the impact of many corporate decisions on all stakeholders are considered.
But how would just look in the real world. Let’s consider companies like UPS and FedEx who are fierce competitors. If FedEx decides to adopt a conscious capitalism perspective, some of their focus would be directed towards stakeholders that do not directly impact the bottom line. For instance, should FedEx invest mush cost to purchase energy efficient vehicles that will cost more to operate?
So how would a company like FedEx generate enough profits to continue to compete with UPS who is only focused on profits?
