This week's topic was about conscious capitalism & the value of purpose, 2 very relevant topics within today's society. During the online lecture we started with a video of Simon Sinek, which I thought it was very inspiring. Simon is the autor of a very well know book "The purpose of why" which is one of the first inspirational books that I read many years ago. The video was focused on the importance for people to find their "why". If you don't feel inspired and fulfilled in your job, why are you doing it? Simon explained his own experience when he lost his passion for what he was doing. He knew what he did and how he did it, but he didn't know "why". By figuring out how to answer this question he has now helped thousands of people shift their professional careers and lives in order to fulfill their passion and be happier.
Next, we discussed the purpose of a business and the Triple Bottom Line framework to account for a better social, environmental, and economic impact. During our discussion we looked at different infographics and systems that companies have to measure their purpose. Some examples were the circular economy design, the hierarchy of a business purpose, and the new value chain model.
Conscious capitalism was another topic that we discussed. We looked at different luxury companies and social enterprises to analyze their recent actions towards a more sustainable approach. One example was Tengri, a luxury social enterprise inspired by the people in Mongolia, particularly the yak herders, and the harmony of their nomadic lifestyle with their animals and the land.
Lastly, we examined the concept of transparency, a word that has become very relevant in fashion over the years. A brand's transparency is a tool for storytelling, which ultimately helps them build and regain trust within its customers. However, it is on the interest of the brand to be as transparent as possible. Nowadays, younger generations are more interested to know and find out a company's Fashion Transparency Index, therefore it cannot be ignored.
