The Conscious Capitalism movement continues to attract influencers who are deeply committed to the transformation of business to a conscious model. To be conscious means to be awake. Conscious Businesses generate value for all of their stakeholders (including the planet) not because it is politically correct to do so but because it is the ultimate path to long-term competitive advantage. Conscious Business Leaders acknowledge that profit is one of the the important purposes of business…..but not the sole purpose; they reject a zero sum, trade off orientated view of business and look for creative, synergistic, win-win approaches that offer multiple kinds of value simultaneously to all stakeholders.

Corporations are probably the most influential institutions in the world, and yet many people do not believe that they can be trusted. Instead corporations are widely perceived as greedy, selfish, exploitative, uncaring – and interested only in maximizing profits.

Conscious Capitalism is a philosophy based on the belief that a more complex form of capitalism is emerging that holds the potential for enhancing corporate performance while simultaneously advancing the quality of life for billions of people. The Conscious Capitalism movement challenges business leaders to re-think why their organizations exist and to acknowledge their company’s role in the interdependent global marketplace.

Conscious Capitalists are unapologetic advocates for the free markets, entrepreneurship, competition, freedom to trade, property rights, freedom to contract, and the rule of law. They recognize that these are essential elements of a healthy, functioning economy, as are trust, compassion, collaboration, and value-creation.

Any meaningful transformation (of business to a conscious model) must incorporate a system-wide perspective that recognizes free markets and entrepreneurship as essential elements of a healthy economy, along with trust, collaboration and value-creation.

It was great to be able to introduce the story of Better World Books to this group of CEO’s and thought leaders and to hear, unequivocally, how much our core business model truly represents the kind of Conscious Business this movement is looking to create. I will continue to engage with the leadership of the Conscious Capital Movement and ensure that Better World Books is well represented….and well understood…..within this community.

This is kind of a big deal for Better World Books and companies like ours. Previously, there had not been a legal framework specifically designed for social enterprise – you either had to be a for-profit company, legally beholden to maximizing shareholder value, or a non-profit organization.  Now there is a legal framework for companies that  do well by doing good and who strive to generate both social and shareholder returns.

B Lab (the certifying body for B Corporations) had this to say:

“This was a historic day that recognized the growing movement of entrepreneurs, investors, consumers, employees, and communities that are harnessing the power of business to solve social and environmental problems.  The legislation could not have passed without the concrete example and the leadership of nearly 300 Certified B Corporations that are speaking with collective voice about doing business in a different way.”

Similar legislation is working its way through in several states. You can learn more about this trend on the B-Corporation blog.

Great news!  As you probably already know, promoting literacy has always been woven into the fabric of our business.  Now we’re delighted to announce we’ve given an ownership stake to our non-profit literacy partners.   Yup…we’ve granted Incentive Stock Options to these partners – as far as we know, a first for social enterprise.

The purpose of the plan, put together with the help of our primary investor, Good Capital, is to ensure that our literacy partners can have a stake in and share in our financial success.

We’ve put aside roughly 5% of the company for use in stock option grants to an initial group of five literacy partners (with potential to add others in the future):  Books for Africa, Invisible Children, Room To Read, WorldFund and the National Center for Family Literacy.

One of our fearless leaders Xavier Helgesen puts it best:  “We created Better World Books to show that it is possible to do good while at the same time run a successful company.  Our literacy partners are essential to our mission, and we want them to flourish.  Today’s announcement ensures that as our company grows, our partners will too.”

Check out the press release to get all the details. Or read more about it at Change.org.