Excellent webinar discussion offered by the EGADE on how conscious businesses can shape the post- COVID19 world, with well-known academic and business panelists, moderated by Ignacio De la Vega.
Professor Raj Sisodia, whose conscious capitalism movement I strongly support, believes that we should expect to see a “new normal” way of business after the current coronavirus pandemic.
Last year we welcomed the new statement from the Business Roundtable, whereby more than 100 CEOs committed to adopt a stakeholder capitalism; this statement was followed by other organizations, including the Wold Economic Forum, through the Davos Manifesto 2020. The health crisis has brought the corporate world to a tipping point; this is the moment of truth when the principles in those documents will have to come to action.
During the last weeks, we have pleasantly witnessed examples of local and global businesses that have stepped up and announced interesting (and in some cases, unexpected) conscious and socially responsible actions, for the benefit of their employees, customers and other stakeholders.
Professor Raj believes that those business leaders that have shifted to more conscious, empathic and thoughtful behaviors during the Covid crisis, are likely to maintain those behavours and not go back to the traditional capitalism mode, focused only on shareholders.
While I agree with him, I am not as optimistic as he sounded, about seeing a significant change in the short-run in Mexico. Embedding a conscious culture sustainably in an organization takes time, and the leaders may view this cultural shift as a distraction at a moment on which their main and only focus is likely to be the business’ survival.
I hope that time will prove that Professor Sisodia was right…