‘Conscious business’ and what it means for business

I first heard about conscious business from my conversations with key officers of Axialent (www.axialent.com), a company founded in 2002 by Fred Kofman. In his book Conscious Business, How to Build Value Through Values, the author explains that a conscious business promotes the intelligent pursuit of happiness among all its stakeholders. It does not measure success solely through financial metrics. Instead, it evaluates success through three key lenses:

- MA. AURORA D. GEOTINA-GARCIA

• The “It” perspective focuses on the organization’s effectiveness, efficiency, and reliability, all crucial for increasing shareholder value and growth.

• The “We” perspective emphasizes the organization’s ability to cultivate collaborative relationships that empower people to perform at their best.

• The “I” perspective encourages personal growth, meaning, and engagement for each stakeholder.

He further says that an organization that embraces conscious business is a dynamic enterprise steered by individuals who consider the impact of their actions on all stakeholders. Characterized by a purpose that transcends profits, a conscious business continually questions: “How does our existence make the world a better place?” Thus, the goal of a conscious business extends beyond mere productivity as it aims to foster an environment that allows individuals to live their lives with passion, love, compassion, and creativity.

CASE STUDIES OF 'CONSCIOUS BUSINESS'

To demonstrate the impact of this philosophy on business, I would like to share case studies where this was adopted.

Empowering people with purpose and agility. In the following cases, what made the difference was not structure alone — it was leadership alignment, mindset shifts, and cultural clarity. Building a sustainable business that can thrive for many generations demands more than numbers — it demands empowered people with a shared purpose and agility.

• At one global bank, conscious business enabled the organization to adopt agile ways of working to scale across 30,000+ employees in 11 countries — resulting in faster product delivery, stronger customer responsiveness, and a decisive edge in digital growth.

• Another financial institution, facing rising disengagement despite strong earnings, re-centered its leadership on customer value — boosting team performance and customer trust.