In recent years, the idea of conscious capitalism has emerged as an important alternative approach to the problems facing American capitalism. Embraced by a number of corporations and prominent business leaders, it is a new strategy for reconciling the business, social, and environmental goals. While this movement is an inspiring one, and worthy of admiration, we believe the assumptions that underlie it suffers from a number of important limitations that make it unlikely to go to achieve the ambitious promises of its proponents. In fact, it is often difficult to do well by doing good, and few companies have been able to maintain excellent social performance over the long term. Moreover, reconciling the interests of all the company's stakeholders is often difficult to achieve in practice. Most important, the supporters of conscious capitalism overlook the critical role that government should play in the reconciliation of the corporate interests of the broader public purposes. "Hide
By James O'Toole, David Vogel Source: California Management Review 20 pages. Publication Date: 01 May 2011. Prod. #: CMR484-PDF-ENG
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