5 Principles of Conscious Entrepreneurship

The following 5 principles of Conscious Entrepreneurship were developed in preparing for an upcoming summer class in April 2023 at the University of Cologne [LINK].

The 5 central principles of Conscious Entrepreneurship represent landscapes of intention and action for the development of business, society and self.

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1. Purpose

Conscious entrepreneurship emphasises the importance of having a clear purpose beyond making money. Conscious enterprises pursue a higher purpose that aligns with shareholder values and addresses a societal or environmental need.

2. Communality

Conscious enterprise focuses on creating value by collaborating with all stakeholders, especially employees, customers, suppliers and the community. It recognises that a healthy ecosystem requires a balance of interests and strives to achieve beneficial outcomes for all system elements.

3. Sustainability and social responsibility

Conscious entrepreneurship emphasises sustainability and social responsibility in all business practices. It strives not to externalise the side effects of its actions and takes responsibility for the social and ethical consequences of its own actions.

4. Embodied Leadership

Conscious entrepreneurship requires leadership based on values, self-knowledge and empathy that can be experienced by all involved. Leaders strive to inspire and empower others. They embody the purpose and values of the organisation and society.

5. Personal Development

Conscious entrepreneurship recognises that personal growth and development are essential for business success. Entrepreneurs need to cultivate self-awareness, emotional intelligence and mindfulness in order to act effectively and facilitate positive change in the world.

Conscious entrepreneurship presents a systemic approach to entrepreneurship that recognises the interconnectedness of all stakeholders and prioritises purpose, sustainability and social responsibility. By embracing these principles, businesses can transform to sustain themselves, and exert a continuous positive influence on society.

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