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Megatrends 2010

The Rise of Conscious Capitalism

Seven New Trends that Will Transform How You Work, Live, and Invest

by Patricia Aburdene

ISBN: 1-57174-456-8
256 pages
6 x 9 inches
Hardcover

Online price: $18.71

List price: ~~$24.95~~

Savings: 25%

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Review from Echo Megatrends 2010

By Jim Ward
Published in Echo
2005-10-01

     One of the most surprising facts this book reveals is the legal obligation of companies to maximize profit for their shareholders. This leads to aggressive lowering of costs by pushing them off on to others such as taxpayers, or what is worse, onto the environment. In effect the actions of a socially responsible company are illegal to the extent its social obligations eat into profits. The good news is that by emphasizing corporate features other than profits, a company can demonstrate that attention to intangible activities can result in even higher profits than would be realized without such attention. Straight greed as emphasized by Professor Lester Thurow of MIT, does not necessarily pay the highest dividends.
     It is to highlighting these relatively recently recognized intangible and profitable corporate activities that Aburdene devotes her book. The seven new trends she identifies will not immediately appeal to the left-brained analyst-cum-corporate hot shot. Clearly the leaders of Enron, Worldcom, Adelphia and their look-alikes would not have ‘burned’ had they paid attention to Aburdene’s trends.
     Aburdene proclaims and demonstrates that spiritual values such as integrity, trust, compassion, ‘doing the right thing,’ forgiveness, suspension of judgment, harmony with the environment, and even the benefits of quiet self-reflection, all contribute to highly functioning organizations. The bulk of her book highlights people who embody these values and their impact on the organizations they work for. They are raising the consciousness of capitalism. As Hewlett Packard’s (HP) Greg Merton put is, “You can create results from fear, but I came to see that the greatest results come from a more positive place – community, relationship, and conversation (how people operate with each other).” Under Merton’s leadership HP a toner manufacturing plant was built in Ireland in half the time it took before ...even after the Irish contractors had a good laugh at the preposterousness of such an ambitious undertaking. Quite a number of executives are now meditating regularly, in effect transforming themselves and their organizations. For example, meditator Bill George of Medtronic Corp. led his organization’s capitalization to soar from $1.1 billion to $60 billion.
     This growing spirituality is infusing capitalism with a much higher degree of consciousness leading to more community involvement, a better appreciation for the environment, sustainable production including energy conservation, more safety concerns, more employee involvement, a greater emphasis on customer service, more appreciation for international perspectives and other-cultural views, more attention to the lower levels of the organization. Aburdene refers to this last point as leading from the middle (of the organization) which invokes the spiritual power of co-creation. Leadership becomes more informal and does more networking throughout the organization as opposed to lording it over everyone by virtual remote control from the top of the hierarchy.
     What difference does this consciousness approach make?   Better execution, less absenteeism, easier attraction and retention of talent, a more intense synergy between employees, ‘latitude for creative defiance’ (that is thinking you can do better than the boss and doing it AND getting away with it!), etc.
     One of the trends cited by Aburdene is the phenomenon of active spiritual circles within corporations. Some of these are single faith. Others are multiple faith (such as Ford) or they focus on the individual’s spiritual development regardless of their religion if any. At Calcutta, India’s SREI International Financial Limited, there is a temple in the main lobby and alter space for work teams. Companies such as Coca Cola even have chaplains (who as in the army are supposed – presumably - to minister to all faiths, a practice which can be outsourced .. to India?). Now there are even consultant shamans who practice their arts on companies experiencing turbulent times. Corporate spiritual retreats are gaining acceptance together with activities such as fire walking and wilderness survival. The meaning behind the Spirit in work trend seems to grow out of a desire to celebrate all of our Selves at work - a practice formerly frowned on. Even business schools such as Loyola University (in New Orleans) are introducing institutes and courses on ethics and spirituality. Along with the emphasis on spirituality goes a keener concern for the health and well-being of employees and customers.
     The growth in values-driven consumers is another mega trend. These include people who want to express their values through their purchases known in the trade as LOHAS – Life Styles of Health and Sustainability. They are responsible for the rise in markets in ecotourism, organic foods, low-energy houses, cars and appliances, and alternative health services. They also shy away from those companies which are not good corporate citizens. Exxon comes to mind. These consumers are uniting over the internet, providing heavier clout for their demands. There are lists on the internet on which Whole Foods features prominently espousing healthy treatment of animals, and listed as one of Fortune’s 100 best companies to work for. Obviously, since Whole Foods seems to be the busiest grocery in Charlottesville, the higher prices don’t phase people.
     Various techniques are employed to raise consciousness. One already mentioned is meditation which progressive companies often encourage to the extent of maintaining a quiet room on the premises. American Express is experimenting with Forgiveness Training. Xerox has found profitable advantage in sponsoring Native American Style ‘Vision Quests.” Hospitals and physicians, not to mention alternative practitioners, are more openly invoking the power of prayer. Aburdene asserts, “The Information Age is yesterday.” “Technological innovation, in fact , all business invention, grows out of consciousness – the awareness of awareness, the capacity to observe without attachments.” “...HeartMath, teaches people how to observe, monitor and balance their heart rhythms – the key to intelligence, vitality and high performance.” It all amounts to improving self-mastery.
     Aburdene’s final mega trend is the Socially Responsible Investment (SRI) Boom. Increasing numbers of people and organizations are investing their savings in funds such as the Domini group, the Calvert Group, The Pax World Balanced Fund, the Ariel Fund and others such organizations that screen out companies according to various criteria. Screened out are companies causing environmental damage, and damage to health. Criteria for inclusion in these SRI funds include Diversity, Recycling, Human Rights performance, Corporate Citizenship. Bleeding heart kind of stuff you might sneer. But oddly these funds are often beating the market in returns to investors. Even money-grubbing investors are beginning to take them seriously. Community investing involves investing in community projects that might be somewhat risky but is important to some investors.
     Some investors are taking a different tack and buying a few shares of companies that stink in the SRI world. They then use their “membership” of the company to pressure its board and management to behave better, to become better corporate citizens.
     If there is one glaring omission in this book it is that it does not mention the Integral (Four Quadrant) Approach to business as developed by Ken Wilber and many other academic and business worthies.
In the greater scheme of things, this book is an eye-opener and will be a beacon of hope to many for its uncovering and exploration of sentiments many have about their livelihood, business, investing and capitalism.

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Other Press Reviews/Articles

Advance Praise for Megatrends 2010

Trend-watcher Sees Moral Transformation of Capitalism

Review from Enterprise Ecology.com

Bookshelf: A Random Harvest of Gift Books and Winter Wonders

Review from Future Survey

"Real" Men Losing Power

Review from Midwest Book Review

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Megatrends 2010 (June 20, 2006) [ View Press Release ]

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PATRICIA ABURDENE



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