Strictly business column – Joe Bauman
Chamber joins statewide effort to promote “Profit with Purpose”
The Birmingham-Bloomfield Chamber is embarking on an exciting new chapter in its 69-year history, one that we hope will improve the quality of life not only in the Chamber’s six-community footprint, but throughout Oakland County and beyond.
The BBC is one of six chamber’s statewide that have joined together to launch Thriving Michigan. Based on a business framework called conscious capitalism, Thriving Michigan is a statewide program of the Michigan Chamber Foundation that strengthens communities by challenging business leaders to do four things:
Business research has demonstrated that when companies rise to this challenge, they create long-term value for customers, employees, communities, suppliers, and the environment, in addition to making a lot more money than their less-ambitious competitors. Business is about more than making money; it is about making a good life for people and filling a community need. Thriving Michigan is a call for a new business-as-usual in Michigan that strives to achieve this higher purpose.
I was first exposed to the concept of conscious capitalism, a phrase coined by Whole Foods co-founder John Mackey, at a Michigan Chamber of Commerce conference last fall. The keynote speaker at the conference was Nathan Havey, founder of Thrive Consulting Group. Havey is an early disciple of the Conscious Capitalism movement, and his message that private business must have a purpose beyond profit both intrigued and excited me.
Shortly after the conference, I contacted Havey and invited him to speak at one of our events because I believed the principles of conscious capitalism would resonate with our Chamber members. Many of our local businesses, in fact, are already practicing a form of conscious capitalism, and I saw an opportunity to harness the collective resources and get our entire membership moving in the same direction.
I quickly learned I was not the one chamber executive who reached out to Havey with a similar request, and it was decided that instead of having each chamber working individually, we would band together to transform the entire state’s business model. Thus, Thriving Michigan was born at a two day retreat last winter hosted by the Michigan Chamber and directed by Havey.
Each participating Chamber has their executive and one board member enrolled in a yearlong program where we are being immersed in the concept of Conscious Capitalism, and challenged to develop a model to spread the notion of “Profit with Purpose” to our member businesses.
I am very fortunate to be joined by Chamber board chair-elect Don Lee, Chief Marketing Officer for the Clark Hill law firm, on the steering committee.
Our public unveiling, if you will, of Thriving Michigan takes place this Wednesday, May 18, with a breakfast program at the Birmingham Athletic Club. The program, scheduled from 8:30-11 a.m., will feature a keynote speech by Haven, and showcase local business examples of companies that have incorporated “Profit with Purpose” into their culture.
The event is open to the public, and pre-registration is necessary by calling the Chamber offices at (248) 644-1700, or at the Chamber’s Web site at www.bbcc.com
If the idea of Thriving Michigan intrigues you, I encourage everyone to Google both “Conscious Capitalism” and “Thriving Michigan” to learn more.
And I hope to see everyone at the program on Wednesday. I promise, you won’t be disappointed.
Joe Bauman is president of the Birmingham Bloomfield Chamber. He welcomes feedback at joeb@bbcc.com