What is stakeholder synergy?
You’ve likely heard the expression, “The whole is greater than the sum of its parts.” This is the basic premise of stakeholder synergy — the idea that the effect produced by all stakeholders working together produces a far more profound outcome than their individual efforts. And by valuing each component as an indispensable part of the whole, the entity stays healthy — and productive.
Conscious companies create a virtuous cycle by orchestrating synergies across all of their stakeholders — employees, customers, suppliers, investors, communities, the environment — even competitors. The priority in this collaborative structure is a win-win for all. Every stakeholder mutually benefits.
Out with the old
In the old paradigm, often the only stakeholder that leaders were concerned about was the investor. In a purely profit-driven business, while your business may have a healthy bottom line, employees often suffer in silence — forced to bear the burden of more responsibilities and tighter and tighter deadlines. And in a salaried position, they may be expected to work 60 hours a week — or more — under the implied threat of losing status, not being seen as a team player, or losing their job. This duress all too often leads to increased illness and depression. This is no longer acceptable!
In addition to abuse of talent for the sake of profitability, many businesses take shortcuts that might seem economically in their best interests, but they are disastrous to the planet in the form of waste and pollution, and leave a large ecological footprint. In times of environmental decline, those in the Conscious Business Movement believe we can no longer afford to make this mistake.
In with the new
Conscious culture once again poses the question: Is a bottom-line business model really working?
Instead of keeping the eye focused on the bottom line, Conscious Capitalism instead concentrates on the triple bottom line — People, Planet, and Profit.
By factoring in the needs of the environment, employees, customers, and community, everyone benefits by your company’s existence. Healthy and happy employees are positive and productive, and the environment and community are nurtured by the company’s dedicated efforts. Investors who are committed to change for the greater good will be pleased to see their ideals being put into action in the world and will increase their financial support for a company they can believe in.
I can help you learn to build lasting relationships based on a Higher Purpose that engender gratitude in everyone who interacts with your company — and improve your talent attraction and retention.