Adding Value with Conscious Capitalism
Can for-profit companies also meet social needs and work to improve lives and outcomes for millions of people? The answer is yes, and the idea behind this is called conscious capitalism. Companies that practice conscious capitalism are not solely focused on how much profit they can make. Many of these companies focus on the triple bottom line. They seek to add value for people, the planet, and their own profit margin. Values, for conscious capitalism companies, are local and worldwide efforts that address social and environmental issues. These companies often become quite profitable while still pursuing programs that benefit their employees, the environment, and all of society.
Apple, one of the largest software and computing companies in the world, practices conscious capitalism. Their many apps add value to the lives of their users. There is an iPhone app that allows users of prosthetic limbs to adjust the angle and height of their feet. This improves their lives by giving them access to greater mobility. Users of prosthetic limbs can feel more like they have natural, fully functional limbs, enabling them to live happier and more productive lives. In the past, prosthetic limbs were limited by a lack of technology. Developers can use tools provided by Apple to bring technology where it is needed.
Connecting People and Technology
Another app helps rural health care providers in Africa and other regions where people may lack access to doctors. The app helps providers diagnose and treat common ailments. Providers can care for pregnant women, children, and even newborn babies in villages. These patients are subject to diseases and complications, and the app helps prevent that from happening. Since the app is on the iPad, providers can carry this tool around with them as they make their rounds to villages. This is conscious capitalism at work. The app helps provide lifesaving medical care, enables providers to be more effective, and continues to bring in revenue for Apple.
There are many more examples of how Apple practices conscious capitalism. One of the most vital is in the area of education. Apple pledged to donate $100 million worth of teaching and learning tools to schools in need across the country. Apple gives an iPad to every student, a Mac and iPad to every teacher, and an Apple TV to every classroom. The company is able to promote its brand by giving away products for free. Students and teachers alike reap the benefits of Apple’s generosity.
Apple is a huge corporation with a passion for connecting people and technology. Its products benefit people throughout the world, regardless of economic background, ethnic background, or country of origin. Everyone wins when companies like Apple practice their brand of conscious capitalism.
Apple aims to reduce their impact on the environment by using solar energy, recycled products, and makes a conscious effort to keep their products out of landfills.