social capitalism (/ˈsōSHəl/ /ˈkapətlˌizəm/): an old idea taking on an new form in the age of social media where social capital, creative capital, and intellectual capital are deployed outside the construct of the prevailing corporations or governments; a social cause cast against the backdrop of market capitalism
We’ve said before that we’re social capitalists – making a profit while supporting a cause. Social capitalists operate within a triple bottom line (TBL) business methodology, which traditionally consists of three “P’s”: people, planet, profit. TBL’s been embraced by many sustainability initiatives as an operational philosophy – educating the public on sustainability and building a community around a cause (people), reducing waste and pollution (planet), and still making some sort of (profit) to help grow and further the cause while supporting those who put effort into it. In a capitalist society and economy, being a TBL business can better ensure the success and growth of a cause within the context of an economy that’s largely influenced by capitalistic variables and methodologies.
There’s the perception, though, that being for-profit is an ugly choice – that it implies the profit-oriented pricing and marketing strategies employed by profit-focused businesses. We’re all used to these buy-more strategies because for a majority of businesses, profit’s the only goal – after all, the business needs to stay afloat, feed its employees, and ideally grow and prosper.
The difference between a profit-focused business and a TBL business isn’t that one’s profit-focused and the other isn’t – remember, profit’s the third “P” in the triple bottom line model – the difference is that profit isn’t the only goal of a TBL business. People (community and cause) and planet (cause and wise consumption) are just as important.
This makes TBL businesses noticeably different than more traditional, profit-focused shops. Consumers notice this in the branding of TBL businesses, their marketing approach, their pricing strategy, and most importantly the ways they behave.
Since in.gredients is a triple bottom line business, everything we do indicates our goals to build (and educate) a community around our cause (people), reduce waste and consumption and improve our environment (planet), and make a profit to help grow our concept, drive change in the marketplace, and spread the good (profit).