Stakeholder Capitalism is the hot button word of the moment. For those unfamiliar Stakeholder Capitalism was a popular management theory in the 1950s and '60s that focused on the needs of all constituents, not just shareholders. It wasn't just about bottom line profits, but included the community and employees into the equation. It fell by the wayside for Shareholder Capitalism as things went global -and communities were too broad to feel local. Today, Stakeholder Capitalism is returning with a focus on Key Stakeholders and their objectives: Profits, Purpose, Prosperity, and Peace.
I would like to add WISDOM the Stakeholder Capitalism model.
With corporations still being rewarded for focusing on short-term goals, even though the long-term goals make them more money and are more sustainable - we find ourselves stuck in a vicious cycle. Our work is cut out for us today to get people back on track to a more holistic approach to work.
I work as a Wisdom Officer by trade. When I tell people what I do - I get my fair share of blank faces.
"A Wisdom Officer is not a foreign concept. They have been in every culture in the world, dating back over 35,000 years. Only in the last few hundred years have we cut them out."
We are on the brink of every kind of disaster. Bringing a Wisdom channel back into the room doesn't even make the first page of the list of crazy. It adds a voice that is missing_ another intelligence source that can soothe and transform organizations.
A new Worldwide McKinsey Health Institute survey across 30 countries offers insights into how organizations can help create a workplace prioritizing physical, mental, social, and spiritual health.
I challenge us to go one step further and add Wisdom as a metric to Stakeholder Capitalism. Wisdom's presence can bring our planetary spreadsheet back into balance. Integrating Wisdom, like breaking bread and cups of tea_ isn't a bad idea. We need every angle of intelligence available if we truly want peace, prosperity, purpose, and profits.
Wisdom isn't Rocket Science.
When we shoot for the moon, it's a good idea to get our calculations right. If we are off by 1 degree, it will turn to 10 in space. We must align our mission, purpose, values, and the planet_ BEFORE hitting send.
Adding a Wisdom filter can save us a world of trouble.
If we don't_ we may miss the mark entirely.
