Copyright (c) 2023 Documentos de Trabajo ECBTI
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Conscious capitalism: conceptual guide for the cultural and operational transformation of small and medium enterprises in Cumaral, Meta, Colombia
Conscious Capitalism advocates a business model that integrates economic success with social, environmental, and spiritual well-being, aiming to create a balanced and sustainable approach to business. In Colombia, most small and medium-sized enterprises (SMEs) operate within traditional frameworks that often overlook sustainable development and holistic value creation. This study seeks to explore how Conscious Capitalism can facilitate cultural and operational transformations in SMEs, enhancing organizational performance while supporting societal welfare. The research adopts a systematic methodology beginning with an extensive literature review on Conscious Capitalism’s core principles, including Higher Purpose, Stakeholder Orientation, Conscious Leadership, and Conscious Culture. Following this review, an analytical approach identifies how these principles can be adapted within organizational contexts. The conceptual framework established here serves as a basis for developing future diagnostic tools aimed at assessing and guiding SMEs toward more sustainable practices. This work aspires to provide a roadmap for implementing Conscious Capitalism, addressing both the opportunities and challenges within the business landscape of Cumaral, Meta, Colombia. By embracing this philosophy, SMEs may strengthen their market resilience, foster stakeholder loyalty, and pursue more meaningful and profitable engagements.
