Many popular brands have evolved from leaders who follow conscious capitalism business philosophies.
Some well-known conscious capitalism companies include:3
- Whole Foods Market
- Starbucks
- Southwest Airlines
- Costco
- Alphabet
- Trader Joe’s
Consider the following case studies surrounding conscious capitalism.
TOMS Shoes
In 2006, when Blake Mycoskie took a vacation in Argentina, he met a few women who collected shoes to donate to schoolchildren in need. Blake, a serial entrepreneur, decided that he wanted to help. He started TOMS that same year and established its innovative One for One® model, which donates a pair of shoes to a person in need for every pair sold.5
Today, TOMS also donates a third of its profits to what the company calls “grassroots good” — facilitating positive change at the local level. In all, TOMS has impacted more than 105,463,000 lives to date.6
TOMS customers can feel good about their purchases. The company is fully accountable to all its stakeholders. In short, the company is an inspiring case study of conscious capitalism that other fashion entrepreneurs can strive to emulate.
Starbucks
Starbucks — the ubiquitous coffee chain — has long been committed to being a force for good. In addition to ensuring that their coffee beans and other products are sustainably sourced, the company also actively gives back to farmers by investing in their growth and donating millions of disease-resistant plants.7
Moreover, Starbucks is oriented toward all its stakeholders, with a focus on creating gainful opportunities for its workers. The company provides 100% college tuition coverage for a first-time bachelor's degree for all benefits-eligible employees — something virtually unheard of in the food industry.8 Plus, Starbucks has a program that hires U.S. veterans.9
All these initiatives demonstrate conscious capitalism — a purpose beyond only profits. Starbucks has proven itself to be a force for good for its employees, suppliers and for veterans.
Trader Joe’s
Unlike most national chains, Trader Joe’s positions itself as a neighborhood grocery store that embodies a small-town community vibe. Known for its unique products, Trader Joe’s has committed to selling only products that were harvested, produced or manufactured sustainably. The company has also taken steps to significantly reduce food waste and composts and recycles millions of pounds of materials.10
Environmental sustainability isn’t Trader Joe’s only mission. As a leading example among conscious capitalism companies, Trader Joe’s donates millions of meals to communities in need through its Neighborhood Shares program. In fact, in 2022 alone, the Neighborhood Shares program donated more than $469 million dollars of food.11
Furthermore, Trader Joe’s actively nurtures an inclusive, welcoming environment for its employees. The company is committed to diversity and offers a generous scholarship fund to its workers, with additional scholarship opportunities available for minority employees.1,2