Two and a half cheers for conscious capitalism

California Management Review

Volumn 53, Issue 3, 2011, Pages 60-76

  O'Toole, James ^a   Vogel, David ^b  

^a UNIVERSITY OF DENVER   (United States)

^b UNIVERSITY OF CALIFORNIA   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 80054035938     PISSN: 00081256     EISSN: None     Source Type: Journal    
DOI: 10.1525/cmr.2011.53.3.60     Document Type: Article

References (44)

1. Irving Kristol, Two Cheers for Capitalism (New York, NY: Basic Books, 1978).
2. Mary Scott and Howard Rothman, Companies With a Conscience: Intimate Portraits of Twelve Firms that Make a Difference (Secaucus, NJ: Carol Publishing Group, 1992);
3. Mary Scott and Howard Rothman, Companies with a Conscience: In-Depth Profiles of Businesses that Are Making a Difference (Franklin Lakes, NJ: Career Press, 2002)
4. Howard Rothman and Mary Scott, Companies with a Conscience: Intimate Portraits of Twelve Firms that Make a Difference (Denver, CO: The Publishing Cooperative, 2003).
5. Marc R. Benioff and Karen Southwick, Compassionate Capitalism: How Corporations Can Make Good an Integral Part of Doing Well (Franklin Lakes, NJ: Career Press, 2004);
6. Ira A. Jackson and Jane Nelson, Profits with Principles: Seven Strategies for Delivering Value with Values (New York, NY: Doubleday, 2004);
7. Fred Kofman, Conscious Business: How to Build Value Through Values (Boulder, CO: Sounds True, 2006);
8. Rajendra Sisodia, David B. Wolfe, and Jagdish N. Sheth, Firms of Endearment: How World-Class Companies Profit from Passion and Purpose (Philadelphia, PA: Wharton School Publishing, 2007).
9. Pete Engardio, "Beyond The Green Corporation", Business Week January 28, 2007, pp. 51-64.
10. Some of these same firms were described in James O'Toole, "Do Good, Do Well: The Business Enterprise Trust Awards", California Management Review, 33/3(Spring 1991):9-24.
11. Ram Nidumolu, C. K. Prahalad, and M. R. Rangaswami, "Why Sustainability is Now the Key Driver of Innovation", Harvard Business Review, 87/9(September 2009):56-64. For a more recent exposition of this theme in HBR
12. see David A. Lubin and Daniel C. Esty, "The Sustainability Imperative", Harvard Business Review, 88/5(May 2010):42-50.
13. Andres R. Edwards, The Sustainability Revolution: Portrait of a Paradigm Shift (Gabriola Island, BC: New Society Publisher, 2005);
14. Bob Willard, The Next Sustainability Wave: Building Boardroom Buy-In (Gabriola Island, BC: New Society Publishers, 2005);
15. Daniel C. Esty and Andrew S. Winston, Green to Gold: How Smart Companies Use Environmental Strategy to Innovate, Create Value, and Build Competitive Advantage (New Haven, CT: Yale University Press, 2006);
16. Christopher Laszlo, Sustainable Value: How the World's Leading Companies Are Doing Well by Doing Good (Stanford, CA: Stanford University Press, 2008);
17. Adam Werbach, Strategy for Sustainability: A Business Manifesto (Boston, MA: Harvard Business School Press, 2009).
18. .
19. See also Hannah Clark Steiman, "A New Kind of Company: B Corporations worry about stakeholder, not just shareholders", Inc. Magazine, July 1, 2007, pp. 23, 24.
20. Michael Strong, Be the Solution: How Entrepreneurs and Conscious Capitalists Can Solve All the World's Problems (Hoboken, NJ: John Wiley & Sons, 2009).
21. John Mackey, "Creating a New Paradigm for Business", in Michael Strong, Be the Solution: How Entrepreneurs and Conscious Capitalists Can Solve All the World's Problems (Hoboken, NJ: John Wiley & Sons, 2009), p. 103. The need to reinvent capitalism by making the new purpose of the corporation the creation of shared value is echoed by Michael Porter and Mark Kramer.
22. See Michael E. Porter and Mark R. Kramer, "Creating Shared Value", Harvard Business Review, 89/1-2(January/February 2011):62-77.
23. G. Michael Maddock and Ralphael Louis Vitón, "Conscious Capitalism: Doing Good Via Self-Interest", Bloomberg Businessweek, December 8, 2009.
24. Gary Hirshberg, "How to Make Money and Save the World", address given at "Conceptualizing Conscious Capitalism" conference, Bentley College, May 24, 2010.
25. James O'Toole, Leading Change: Overcoming the Ideology of Comfort and the Tyranny of Custom (San Francisco, CA: Jossey-Bass, 1995), chapter 11.
26. G. D. H. Cole, The Life of Robert Owen, Third Edition (Hamden, CT: Archon, 1966), p. 187.
27. James O'Toole, Vanguard Management: Redesigning the Corporate Future (New York, NY: Doubleday, 1985), pp 19-22
28. Simon London, "J&J stands proudly by its leader's words", Financial Times, August 31, 2004, p. 10.
29. The firm was prominently featured in Rajendra S. Sisodia, David B. Wolfe, and Jagdish N. Sheth, Firms of Endearment: How World-Class Companies Profit from Passion and Purpose (Upper Saddle River, NJ: Wharton School Publishing, 2007).
30. Mina Kimes, "Why J&J's Headache Won't Go Away", Fortune, September 6, 2010, p. 100.
31. Clayton Rose, Sandra J. Sucher, Rachel Gordon, and Matthew Preble, "On Weldon's Watch: Recalls at Johnson and Johnson from 2009-2010", Harvard Business School Case #9-311-129, October 21, 2010.
32. R. Fernando and D. Purkayastha, "BP: Putting Profits Before Safety", IBS Center for Management Research, 2007, p. 12;
33. "Top Companies of the Decade", Businessweek, December 12, 2005, .
34. Nelson Schwartz, "Can BP Bounce Back?" Fortune, October 16, 2006, pp. 90-99.
35. For an extended critique of this literature, see Phil Rosenzweig, The Halo Effect... and the Eight Other Business Delusions That Deceive Managers (New York, NY: Free Press, 2007);
36. Phil Rosenzweig, "Misunderstanding the Nature of Company Performance: The Halo Effect and Other Business Delusions", 49/4(Summer 2007):6-20.
37. For example, see ; ; ; ; .
38. For a more extended analysis of the tenuous relationship between ethics and profits, see David Vogel, The Market for Virtue (Washington DC: Brookings Institution Press, 2005), chapter 2.
39. Aneel Karnani, "'Doing Well by Doing Good': The Grand Illusion", California Management Review, 53/2(Winter 2011):69-86.
40. Marc Gunther, Doris Burke, and Jia Lynn Yang, "The Green Machine", Fortune, August 7, 2006, pp. 42-57;
41. Erica Plambeck and Lyn Denend, "The Greening of Wal-Mart", Stanford Innovation Review (Spring 2008), pp. 52-59.
42. Amory Lovins, interview by Lucy Siegle, The Observer, Sunday, March 23, 2008.
43. "Face Value: The Acceptable Face of Capitalism?" The Economist, December 12, 2002, .
44. , .