Is Doing Good Compatibale with Making Money?

When I first read the title of this I thought it would be an article giving capitalism a hard time. After reading it I think it is something that could benefit every company.

The gospel according to Adam Smith
Is doing good compatible with making money?
It is if you practice spiritual capitalism. - by Carleen Hawn

Art DeLorenzo and I were having a hard time connecting. He’s a 67-year-old retired financial adviser in the New York City area whose budding consulting practice keeps him from settling into an easy chair. I’m a journalist in San Francisco, perpetually on deadline. Several appointments we set were moved or missed, but we kept trying. Late one evening, as we seemed finally to settle on yet another date for our interview, DeLorenzo threw out a comment that would prove as valuable as anything he said in our hour-long phone call days later.

“Wait a moment.” DeLorenzo paused. “I could say 3 p.m., but the group I’ll be meeting with before you, they tend to run over. It’s just their habit, but I know this. So I’d rather not book you right up against them. I don’t want to compromise the integrity of my commitment to them.”

The details of one man’s business schedule might not seem meaningful at first. But in that moment I realized DeLorenzo’s deliberate emphasis on a few choice words—“the integrity of my commitment”—was a straightforward yet eloquent statement of a still-fuzzy but increasingly important trend: spiritual capitalism.

Spiritual capitalism doesn’t mean prayer sessions on the shop floor and guided meditations in the boardroom. At least it doesn’t have to. What it does mean is the success of an enterprise is measured by values like “integrity” and “commitment” as much as by targets like “efficiency” and “profitability.” It’s based on the recognition that every businessperson—whether you’re the CEO of a major multinational or the head of your own small firm—is in the service industry, and the services rendered must benefit not just yourself and your shareholders, but the planet and other people as well. The first commandment of the growing spiritual-capitalism movement is: Taking care of business means taking care of others. read more