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Aug 23, 2010, 09.17 AM IST | Source: CNBC-TV18

Road to conscious capitalism: Raj Sisodia imparts the gyaan

To be conscious, means to be awake and mindful. The conscious business fosters peace and happiness in the individual, respect and solidarity in the community and mission accomplished one in the organization. That sums up the idea and the philosophy beyond Conscious Capitalism.

Road to conscious capitalism: Raj Sisodia imparts the gyaan
On September 15, 2008, American financial giant Lehman Brothers declared itself bankrupt marking the onset of a global economic meltdown. Something had fiercely gone wrong. There was a crisis of trust. Questions like, will the conventional route to profitability work again or do our companies need a higher purpose were being asked

To be conscious, means to be awake and mindful. The conscious business fosters peace and happiness in the individual, respect and solidarity in the community and mission accomplished one in the organization. That sums up the idea and the philosophy beyond Conscious Capitalism.

In an interview with CNBC-TV18, marketing guru Rajendra Sisodia, Co-Founder, Conscious Capitalism Institute and Professor of Marketing, Bentley University spoke on his mantra and outlined the three key tenets of conscious capitalism.

Below is a verbatim transcript. Also watch the accompanying video.

Q: Let me start by asking you about the idea behind Conscious Capitalism and it is something that people around the world have experimented with. But do you think it is gaining more currency now because the trust deficit has increased considerably post the last downturn?

A: Yes, there is a sense of urgency and a recognition that the way that we have been doing business in the past is not working anymore and maybe it never worked to the extent that we thought. We were sowing the seeds of problems that are now bearing fruits and so there was a lack of sustainability and there was a lack of understanding of all of the effects of our actions. We tend to focus on so called main effects. When we take the medicine we look at this is the medicine and it helps us with our headache or whatever and we tend to ignore the so-called side effects. The reality is that there are no main effects and there are no side effects.

Q: You are treating the symptoms without addressing the root cause of the problem?

A: Yes and also there are only effects. Everything is an effect. We need to understand the totality of all of the effects. In the world of business, we have tended to operate at rather low level of consciousness where we have not tended to see the bigger picture and we have simply tended to focus on a certain short-term, self-interested outcome from that which is essentially that of making money and we have not looked at the consequences of how we do that and what else results from that process of making money.

To catch the complete interview with Raj Sisodia watch videos...

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