Pros And Cons Of Capitalism In Business

Businesses serve many different functions and purposes but when you think about a business in plain black and white terms the sole purpose of a business is to make money. Generating profit is what keeps a business alive and functioning. This general view of business has been the status quo for the majority of businesses from the 1950’s through the 2000’s. An organization during this time tries to create as much profit and value as possible. Conscious Capitalism is changing this way of thinking. Conscious Capitalism alters this view, Conscious Capitalism views business differently when it comes making a decision about products and services, treatment of stakeholders, and looks at how to create a long term sustainable businesses that protects the environment which results in higher profits in the long term future. …show more content…
I understood that there are many types of capitalism and the pros and cons. Pros of capitalism include economic growth and better efficiency for businesses but also the cons of potential monopolies for a business or industry, wealth inequality, and stakeholders are not always treated fairly. Today Conscious Capitalism has changed my view on capitalism in that their does not need to be a clear cut winner and loser in the business market. John Mackey and Raj Sisodia continuously refer to the concept of a win,win,win,win,win, and win relationship or win to the sixth power. We are taught growing up that there will be a winner and loser in life. We learn this at young age while playing sports, playing games in gym, or at music/dance competition and this reality is instilled in our brain. But this does not have to be the case in the business world even though many business still have this view