What is Conscious Capitalism?
Investopedia states that “the term “conscious capitalism” refers to a socially responsible economic and political philosophy. The premise behind conscious capitalism is that businesses should operate ethically while they pursue profits. This means they should consider serving all stakeholders involved, including their employees, humanity, and the environment—not just their management teams and shareholders.
Whole Foods co-founder John Mackey and marketing professor Raj Sisodia are considered leaders of the conscious capitalism movement. In their co-authored book “Conscious Capitalism: Liberating the Heroic Spirit of Business,” they illustrate and argue that companies should be more ethical, humane, and conscious to all stakeholders and that by doing so, they’ll build a stronger business and a better world.
Why RealWealth Embraces Conscious Capitalism
At RealWealth, our purpose-driven culture fully embraces the conscious capitalism philosophy. We promise to strive to operate ethically and conscientiously no matter what we do. We consider all stakeholders in every decision, from our employees and members to our property teams and partners and beyond.
Real Estate Investing and Conscious Capitalism In Action
Being a landlord is a business, and when you are in business, the first rule of thumb is to make money. One way we create positive cash flow is by raising rents. But what do you do when tenants have financial struggles?
There’s no one-size-fits-all solution, but weighing the options with the “conscious capitalism” philosophy helps you make the right decision—a resolution that’s right for the landlord and fair for the tenant(s).
As an example, here are our beliefs about raising rents when tenants are struggling.
Comments/Advice from our RealWealth Leaders
