CONSCIOUS CAPITALISM

It’s an election year, and many of our readers will be keeping a HM congratulates Dan Janowick, who became the new

close eye on the candidates vying for the Democratic nomination executive director of The Community House last month.

to challenge Republican incumbent Donald J. Trump. The word Janowick succeeded Annie Horton Krug, who departed from

“capitalism” has been increasingly rejected by young people. In the organization in January. A fixture at the Hinsdale-based non

a 2016 Harvard University survey, 51 percent of our nation’s profit, Janowick has spent the majority of his career with The

youth (19- to 29-year-olds) no longer support capitalism, while 42 Community House, previously operating its youth sports leagues

percent said they back it, and only 19 percent called themselves and serving as director of operations.

“capitalists.” As you may have noticed, Hinsdale Magazine has responded

I know many believe it is not “polite” to talk politics but to our reader requests for more “substance with style,” and we

discussing politics and exchanging ideas is good for our society. appreciate the comments on last month’s ten-page technology

Throughout our nation’s university campuses, conversations are taking place in favor of socialism, and unfortunately for some parents, they find out after investing more than $100,000 in tuition and housing that their kids reject the very reason they sent them off to school (to learn how economics works.) Capitalism has become a bad word to some who have forgotten that it has driven our country to greatness.

Hinsdale SERVING HINSDALE, BURR RIDGE, CLARENDON HILLS & OAK BROOK

HINSDALE’S FIRST MAGAZINE $5 US VOLUME 10 ISSUE 3 MARCH 2020

MAGAZINE

Hinsdale Magazine sat down with entrepreneur Roy Spencer, founder and president of Perma-Seal, in Burr Ridge last month. You will read staff writer Larry Atseff’s article on Conscious Capitalism on p. 26. Spencer joined Conscious Capitalism four years ago. The organization was founded by Whole Foods president John Mackey 20 years ago and now has over 2,000 members. The organization strives to inspire business owners and entrepreneurs to "elevate humanity through business." Spencer and his wife Laura Ann, the company’s COO, welcome area business executives to contact www.consciouscapitalismchicago. org to learn more about the movement. Hinsdale Magazine endorses the non-profit organization and hopes you will consider joining to support the business community as Conscious Capitalism fits into Hinsdale Magazine’s support of worthy causes. Dan Janowick The Community House's new executive director + Conscious Capitalism A Gilded Affair Light Up the Night

feature spread on Argonne Laboratory. The most memorable note came from a Monroe Elementary School mom whose son just completed a science project and said he wanted to use our article as a periodical reference!

As a footnote, our February issue featuring the Misericordia Women’s League on the cover produced the highest number of online "reads" since we began publishing our digital magazine in October 2013. Your continuous comments and support have helped us define stories of substance at your request, and we greatly appreciate it.

Coming in April, watch for another exclusive interview with a former Secret Service agent who saved a U.S. President’s life. You can also read all the past articles online at www.HinsdaleMag.com, and as always, we welcome your feedback.

Sincerely, Scott Jonlich Founder & Publisher sjonlich@hinsdalemag.com

Are you a conscious capitalist?

ROY AND LAURA ANN SPENCER

Conscious capitalism is at work in local business

ARTICLE AND PHOTO BY LARRY ATSEFF

The answer to the question “are you a ‘conscious capitalist?’" for many of our readers is that they are; they just don’t realize it.

First a definition of Capitalism: An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state. (Oxford Dictionary)

Twenty years ago, John Mackey, then president and founder of Whole Foods, decided that perhaps it would be a good thing to start a group of companies that aspired to more than that definition of capitalism. So, a non-profit group for businesses called “Conscious Capitalism” began, with the following credo:

"We believe that business is good because it creates value, it is ethical because it is based on voluntary exchange, it is noble because it can elevate our existence and it is heroic because it lifts people out of poverty and creates prosperity. Free enterprise capitalism is the most powerful system for social cooperation and human progress ever conceived. It is one of the most compelling ideas we humans have ever had. But we can aspire to even more."

High sounding—and as it turns out, worthwhile for all concerned. In 2013, a Harvard Business Review article pointed out that companies that practice “conscious capitalism” perform ten times better than their peers. Today, more than 2,000 companies are members of Conscious Capitalism. One reader who has been practicing conscious capitalism before he realized he was doing it is Roy Spencer, president and owner of Perma-Seal, the company that helps people with their basement problems. As Spencer tells it, more than 40 years ago, after working for a couple of basement repair companies and finding them to be overpromising and unethical, he thought there would be room for a basement repair business that was honest. So, with a one-bedroom apartment in Glen Ellyn, a wife, a new baby and a pickup truck, he ran an ad in a Pennysaver newspaper and got his first jobs.

Little by little, satisfied customers told others, and Perma-Seal started growing. Spencer was careful in his hiring process, bringing on people who believed as he did in delivering what was promised at a fair price. As the company grew, he wasn’t able to personally interview and hire every employee, so his wife Laura Ann, told him, “We need some organization around here to make sure we keep getting the right people, and training them the right way." Spencer agreed, so his wife took on the job of chief operating officer, and today, Perma-Seal has a "tribe" of more than 200 employees, and roughly one homeowner in five in the Chicagoland area have been helped by the company's services.

About four years ago, Spencer heard about Conscious Capitalism, and he joined the local Chicagoland chapter. Shortly thereafter, he was asked to be chairman of their local board of advisors, on which he now serves. Spencer is very enthusiastic about the organization's mission of "elevating humanity through business," and speaks to local business and civic groups to encourage other business owners to become involved in the movement. He encourages interested readers to learn more by visiting the organization's website at www. consciouscapitalismchicago.org. ■

FOUR PILLARS OF CONSCIOUS CAPITALISM

HIGHER PURPOSE

Businesses should exist for reasons beyond just making a profit. “We need red blood cells to live (the same way a business needs profits to live), but the purpose of life is more than to make red blood cells (the same way the purpose of business is more than simply to generate profits),” –R. Edward Freedman, University of Virginia Darden School of Business professor. Knowing why your business exists provides you with a compass to find and stay focused on achieving your "True North" (higher purpose). Profit is a means to the end of purpose for conscious businesses.

STAKEHOLDER ORIENTATION

“When you tug at a single thing in nature, you find it attached to the rest of the world,” –John Muir, pioneering naturalist. Such is the case with business, which operates from an ecosystem of your employees, customers, suppliers, investors, society and environment—sometimes, this even includes your competition. Conscious businesses value and care for everyone in their ecosystem, motivating their stakeholders by creating “win-winwin” outcomes for all who are impacted by their business.

CONSCIOUS LEADERSHIP

Conscious businesses cannot exist without conscious leaders, who focus on “we,” rather than “me.” They inspire positive transformation, and bring out the best in those around them. They keep the business focused on its higher purpose, and support the people within the organization to create value for all of the organization’s stakeholders. They recognize the integral role of culture, and purposefully cultivate a conscious culture of trust and care.

CONSCIOUS CULTURE

Culture is the embodied values, principles and practices underlying the social fabric of a business, signaling “how” business is done. The culture of your business is its heartbeat. Without a healthy one, the business will ultimately fail. A conscious culture fosters love and care, and builds trust between a company’s team members and its other stakeholders. Conscious culture also includes accountability, transparency, integrity, loyalty, egalitarianism, fairness and personal growth, acting as an energizing and unifying force that truly brings a conscious business to life.

CLARENDON HILLS INFANT WELFARE LIGHT UP THE NIGHT

More than 300 area residents showed their support for the Clarendon Hills chapter of the Infant Welfare Society (IWS) of Chicago auxiliary at its annual benefit at Butterfield Country Club in Oak Brook on Jan. 25.

Themed "Light Up the Night," the benefit reflected the chapter's signature luminaria fundraiser, an annual tradition in Clarendon Hills for more than five decades.

Attendees poured into the Butterfield clubhouse, attired in their finest evening wear, and enjoyed an hour of camaraderie and refreshments as they browsed an extensive silent auction, before proceeding into the dining room for the program.

After dinner, guests bid on five live auction packages, one of which attracted more than $5,000 to support IWS.

Chapter president Elizabeth Laurence addressed guests, recognizing benefit chairs Jen Van Zant and Amy Ponto, whom she said are "100 percent responsible for this wonderful evening."

Later in the program, IWS CEO Jerry Isikoff spoke to attendees about the growth and evolution of the organization, as well as the auxiliary's role in impacting it.

Maggie Speaks provided live musical entertainment, as guests danced and conversed for the remainder of the evening. ■

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For more information about the Clarendon Hills chapter of the Infant Welfare Society of Chicago auxiliary, visit www. clarendonhillsinfantwelfare.org.

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