[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:00.58,0:00:04.34,Default,,0000,0000,0000,,The entire model of capitalism
Dialogue: 0,0:00:04.34,0:00:06.20,Default,,0000,0000,0000,,and the economic model that you and I
Dialogue: 0,0:00:06.20,0:00:07.84,Default,,0000,0000,0000,,did business in
Dialogue: 0,0:00:07.84,0:00:09.66,Default,,0000,0000,0000,,and in fact that didn't do business in
Dialogue: 0,0:00:09.66,0:00:13.43,Default,,0000,0000,0000,,was built around what probably Milton Friedman
Dialogue: 0,0:00:13.43,0:00:15.10,Default,,0000,0000,0000,,put more succinctly.
Dialogue: 0,0:00:15.10,0:00:16.42,Default,,0000,0000,0000,,And Adam Smith of course
Dialogue: 0,0:00:16.42,0:00:18.74,Default,,0000,0000,0000,,the father of modern economics actually said
Dialogue: 0,0:00:18.74,0:00:21.42,Default,,0000,0000,0000,,many many years ago the invisible hand
Dialogue: 0,0:00:21.42,0:00:23.54,Default,,0000,0000,0000,,which is if you continue to operate
Dialogue: 0,0:00:23.54,0:00:25.17,Default,,0000,0000,0000,,in your own self interest
Dialogue: 0,0:00:25.17,0:00:27.98,Default,,0000,0000,0000,,you will do the best good for society.
Dialogue: 0,0:00:27.98,0:00:32.95,Default,,0000,0000,0000,,Now, capitalism has done a lot of good things.
Dialogue: 0,0:00:32.95,0:00:35.58,Default,,0000,0000,0000,,And I've talked about a lot of good \Nthings that have happened
Dialogue: 0,0:00:35.58,0:00:36.80,Default,,0000,0000,0000,,But equally
Dialogue: 0,0:00:36.80,0:00:39.25,Default,,0000,0000,0000,,it has not been able to meet up
Dialogue: 0,0:00:39.25,0:00:40.99,Default,,0000,0000,0000,,with some of the challenges that we've seen
Dialogue: 0,0:00:40.99,0:00:42.56,Default,,0000,0000,0000,,in society.
Dialogue: 0,0:00:42.56,0:00:44.72,Default,,0000,0000,0000,,The model that at least I was brought up in
Dialogue: 0,0:00:44.72,0:00:47.09,Default,,0000,0000,0000,,and a lot of prospering businesses were brought up in
Dialogue: 0,0:00:47.09,0:00:48.64,Default,,0000,0000,0000,,was one which talked about
Dialogue: 0,0:00:48.64,0:00:51.15,Default,,0000,0000,0000,,what I call the "3 G's" of growth.
Dialogue: 0,0:00:51.15,0:00:52.66,Default,,0000,0000,0000,,Growth that is consistent,\N
Dialogue: 0,0:00:52.66,0:00:54.26,Default,,0000,0000,0000,,quarter and quarter.
Dialogue: 0,0:00:54.26,0:00:55.67,Default,,0000,0000,0000,,Growth that is competitive,
Dialogue: 0,0:00:55.67,0:00:57.15,Default,,0000,0000,0000,,better than the other person,
Dialogue: 0,0:00:57.15,0:00:58.73,Default,,0000,0000,0000,,And growth that is profitable,
Dialogue: 0,0:00:58.73,0:01:00.13,Default,,0000,0000,0000,,so you continue to make
Dialogue: 0,0:01:00.13,0:01:02.92,Default,,0000,0000,0000,,more and more share hold of value.
Dialogue: 0,0:01:02.92,0:01:05.85,Default,,0000,0000,0000,,And I'm afraid this is not going to be good enough.
Dialogue: 0,0:01:05.85,0:01:08.37,Default,,0000,0000,0000,,And we have to move from this 3G model
Dialogue: 0,0:01:08.37,0:01:10.69,Default,,0000,0000,0000,,to a model of what I call
Dialogue: 0,0:01:10.69,0:01:12.23,Default,,0000,0000,0000,,the fourth 'G' --
Dialogue: 0,0:01:12.23,0:01:16.12,Default,,0000,0000,0000,,the 'G' of growth that is responsible.
Dialogue: 0,0:01:16.12,0:01:19.56,Default,,0000,0000,0000,,And it is this that has to become
Dialogue: 0,0:01:19.56,0:01:21.80,Default,,0000,0000,0000,,a very important part
Dialogue: 0,0:01:21.80,0:01:23.77,Default,,0000,0000,0000,,of creating value.
Dialogue: 0,0:01:23.77,0:01:26.19,Default,,0000,0000,0000,,Of not just creating economic value
Dialogue: 0,0:01:26.19,0:01:28.85,Default,,0000,0000,0000,,but creating social value.
Dialogue: 0,0:01:28.85,0:01:31.65,Default,,0000,0000,0000,,And companies that will thrive are those
Dialogue: 0,0:01:31.65,0:01:34.76,Default,,0000,0000,0000,,that will actually embrace the fourth 'G'.
Dialogue: 0,0:01:34.76,0:01:38.09,Default,,0000,0000,0000,,And the model of 4G is quite simple.
Dialogue: 0,0:01:38.09,0:01:41.82,Default,,0000,0000,0000,,Companies cannot afford to be just innocent bystanders
Dialogue: 0,0:01:41.82,0:01:44.20,Default,,0000,0000,0000,,in whats happening around in society.
Dialogue: 0,0:01:44.20,0:01:47.57,Default,,0000,0000,0000,,They have to begin to play their role
Dialogue: 0,0:01:47.57,0:01:49.88,Default,,0000,0000,0000,,in terms of serving the communities
Dialogue: 0,0:01:49.88,0:01:52.70,Default,,0000,0000,0000,,which actually sustain them.
Dialogue: 0,0:01:52.70,0:01:53.77,Default,,0000,0000,0000,,And we have to move to a model
Dialogue: 0,0:01:53.77,0:01:55.77,Default,,0000,0000,0000,,of an "and, and" model which is
Dialogue: 0,0:01:55.77,0:01:59.51,Default,,0000,0000,0000,,how do we make money and do good?
Dialogue: 0,0:01:59.51,0:02:01.06,Default,,0000,0000,0000,,How do we make sure
Dialogue: 0,0:02:01.06,0:02:02.65,Default,,0000,0000,0000,,that we have a great business
Dialogue: 0,0:02:02.65,0:02:05.68,Default,,0000,0000,0000,,but we also have a great environment around us?
Dialogue: 0,0:02:05.68,0:02:06.83,Default,,0000,0000,0000,,And that model
Dialogue: 0,0:02:06.83,0:02:09.80,Default,,0000,0000,0000,,is all about doing well and doing good.
Dialogue: 0,0:02:09.80,0:02:12.18,Default,,0000,0000,0000,,But the question is easier said than done.
Dialogue: 0,0:02:12.18,0:02:14.32,Default,,0000,0000,0000,,But how do we actually get that done?
Dialogue: 0,0:02:14.32,0:02:15.60,Default,,0000,0000,0000,,And I do believe
Dialogue: 0,0:02:15.60,0:02:18.78,Default,,0000,0000,0000,,that the answer to that is going to be an issue.
Dialogue: 0,0:02:18.78,0:02:20.17,Default,,0000,0000,0000,,It is going to be to redefine
Dialogue: 0,0:02:20.17,0:02:21.96,Default,,0000,0000,0000,,the new business models
Dialogue: 0,0:02:21.96,0:02:23.26,Default,,0000,0000,0000,,which understand
Dialogue: 0,0:02:23.26,0:02:25.25,Default,,0000,0000,0000,,that the only license to operate
Dialogue: 0,0:02:25.25,0:02:27.41,Default,,0000,0000,0000,,is to combine these things.
Dialogue: 0,0:02:27.41,0:02:29.52,Default,,0000,0000,0000,,And for that you need businesses
Dialogue: 0,0:02:29.52,0:02:32.14,Default,,0000,0000,0000,,that can actually define their role
Dialogue: 0,0:02:32.14,0:02:34.18,Default,,0000,0000,0000,,in society
Dialogue: 0,0:02:34.18,0:02:35.72,Default,,0000,0000,0000,,in terms of a much larger purpose
Dialogue: 0,0:02:36.00,0:02:38.66,Default,,0000,0000,0000,,than the products and brands that they sell.
Dialogue: 0,0:02:38.66,0:02:41.89,Default,,0000,0000,0000,,And companies that actually define and do not
Dialogue: 0,0:02:41.89,0:02:43.45,Default,,0000,0000,0000,,Things that are non-negotiable
Dialogue: 0,0:02:43.45,0:02:46.20,Default,,0000,0000,0000,,when the times are good, bad, ugly --
Dialogue: 0,0:02:46.20,0:02:47.49,Default,,0000,0000,0000,,doesn't matter.
Dialogue: 0,0:02:47.49,0:02:49.63,Default,,0000,0000,0000,,There are things that you stand for.
Dialogue: 0,0:02:49.63,0:02:54.12,Default,,0000,0000,0000,,Values and purpose are going to be the two
Dialogue: 0,0:02:54.12,0:02:55.93,Default,,0000,0000,0000,,drivers of software
Dialogue: 0,0:02:55.93,0:02:58.02,Default,,0000,0000,0000,,that is going to create
Dialogue: 0,0:02:58.02,0:03:00.16,Default,,0000,0000,0000,,the companies of tomorrow.
Dialogue: 0,0:03:00.16,0:03:01.75,Default,,0000,0000,0000,,And I'm going to now shift
Dialogue: 0,0:03:01.75,0:03:05.46,Default,,0000,0000,0000,,to talking a little bit about my own experiences.
Dialogue: 0,0:03:05.46,0:03:08.45,Default,,0000,0000,0000,,I joined the Unilever in 1976
Dialogue: 0,0:03:08.45,0:03:11.47,Default,,0000,0000,0000,,as a management training in India.
Dialogue: 0,0:03:11.47,0:03:13.81,Default,,0000,0000,0000,,And on my first day of work
Dialogue: 0,0:03:13.81,0:03:16.14,Default,,0000,0000,0000,,I walked in and my boss tells me,
Dialogue: 0,0:03:16.14,0:03:18.31,Default,,0000,0000,0000,,"Do you know why you're here?"
Dialogue: 0,0:03:18.31,0:03:21.71,Default,,0000,0000,0000,,I said, "I'm here to sell a lot of soap."
Dialogue: 0,0:03:21.71,0:03:24.95,Default,,0000,0000,0000,,And he said, "No, you're here to change lives.
Dialogue: 0,0:03:24.95,0:03:27.14,Default,,0000,0000,0000,,You're here to change lives."
Dialogue: 0,0:03:27.14,0:03:28.94,Default,,0000,0000,0000,,You know, I thought it was rather facetious.
Dialogue: 0,0:03:28.94,0:03:31.37,Default,,0000,0000,0000,,We had a company that sells soap and soup ...
Dialogue: 0,0:03:31.37,0:03:34.24,Default,,0000,0000,0000,,what are we doing about changing lives?
Dialogue: 0,0:03:34.24,0:03:38.53,Default,,0000,0000,0000,,And it's then I realized
Dialogue: 0,0:03:38.53,0:03:40.68,Default,,0000,0000,0000,,that simple acts
Dialogue: 0,0:03:40.68,0:03:43.12,Default,,0000,0000,0000,,like selling a bar of soap
Dialogue: 0,0:03:43.12,0:03:44.62,Default,,0000,0000,0000,,can save more lives
Dialogue: 0,0:03:44.62,0:03:46.65,Default,,0000,0000,0000,,than pharmaceutical companies.
Dialogue: 0,0:03:46.65,0:03:47.81,Default,,0000,0000,0000,,I don't know how many of you know
Dialogue: 0,0:03:47.81,0:03:51.10,Default,,0000,0000,0000,,that 5 million children don't reach the age of 5
Dialogue: 0,0:03:51.10,0:03:54.04,Default,,0000,0000,0000,,because of simple infections that can be prevented
Dialogue: 0,0:03:54.04,0:03:56.93,Default,,0000,0000,0000,,by an act of washing their hands with soap.
Dialogue: 0,0:03:56.93,0:03:58.42,Default,,0000,0000,0000,,We run the largest
Dialogue: 0,0:03:58.42,9:59:59.99,Default,,0000,0000,0000,,hand washing program
Dialogue: 0,0:03:59.30,0:04:00.64,Default,,0000,0000,0000,,in the world.
Dialogue: 0,0:04:00.64,0:04:02.53,Default,,0000,0000,0000,,We are running a program on hygiene and health
Dialogue: 0,0:04:02.53,0:04:05.09,Default,,0000,0000,0000,,that now touches half a billion people.
Dialogue: 0,0:04:05.09,0:04:06.78,Default,,0000,0000,0000,,It's not about selling soap,
Dialogue: 0,0:04:06.78,0:04:08.56,Default,,0000,0000,0000,,there is a larger purpose out there.
Dialogue: 0,0:04:08.56,0:04:11.68,Default,,0000,0000,0000,,And brands indeed can be
Dialogue: 0,0:04:11.68,0:04:13.03,Default,,0000,0000,0000,,at the forefront of social change.
Dialogue: 0,0:04:13.03,0:04:14.48,Default,,0000,0000,0000,,And the reason for that is
Dialogue: 0,0:04:14.48,0:04:17.05,Default,,0000,0000,0000,,when 2 billion people use your brands
Dialogue: 0,0:04:17.05,0:04:18.54,Default,,0000,0000,0000,,that's the amplifier.
Dialogue: 0,0:04:18.54,0:04:22.14,Default,,0000,0000,0000,,Small actions can make a big difference.
Dialogue: 0,0:04:22.14,0:04:23.60,Default,,0000,0000,0000,,Take another example,
Dialogue: 0,0:04:23.60,0:04:26.79,Default,,0000,0000,0000,,I was walking around in one of our villages in India.
Dialogue: 0,0:04:26.79,0:04:29.61,Default,,0000,0000,0000,,Not all of you who have done this will realize
Dialogue: 0,0:04:29.61,0:04:33.43,Default,,0000,0000,0000,,that this is no walk in the park.
Dialogue: 0,0:04:33.43,0:04:35.94,Default,,0000,0000,0000,,And we had this lady
Dialogue: 0,0:04:35.94,0:04:40.08,Default,,0000,0000,0000,,who is one of our small distributors
Dialogue: 0,0:04:40.08,0:04:43.70,Default,,0000,0000,0000,,beautiful, very, very modest her home
Dialogue: 0,0:04:43.70,0:04:46.10,Default,,0000,0000,0000,,and she was out there
Dialogue: 0,0:04:46.10,0:04:47.66,Default,,0000,0000,0000,,dressed nicely
Dialogue: 0,0:04:47.66,0:04:49.82,Default,,0000,0000,0000,,her husband in the back, her mother-in-law behind
Dialogue: 0,0:04:49.82,0:04:52.02,Default,,0000,0000,0000,,and her sister-in-law behind her.
Dialogue: 0,0:04:52.02,0:04:54.33,Default,,0000,0000,0000,,The social order was changing
Dialogue: 0,0:04:54.33,0:04:55.86,Default,,0000,0000,0000,,because this lady
Dialogue: 0,0:04:55.86,0:04:57.100,Default,,0000,0000,0000,,is part of our project "iShakti"
Dialogue: 0,0:04:57.100,0:05:00.41,Default,,0000,0000,0000,,that is actually teaching women
Dialogue: 0,0:05:00.41,0:05:02.25,Default,,0000,0000,0000,,how to do small business
Dialogue: 0,0:05:02.25,0:05:03.72,Default,,0000,0000,0000,,and how to carry the message
Dialogue: 0,0:05:03.72,0:05:05.98,Default,,0000,0000,0000,,of nutrition and hygiene.
Dialogue: 0,0:05:05.98,0:05:08.18,Default,,0000,0000,0000,,We have 60 thousand of such woman
Dialogue: 0,0:05:08.18,0:05:10.08,Default,,0000,0000,0000,,now in India.
Dialogue: 0,0:05:10.08,0:05:12.52,Default,,0000,0000,0000,,It's not about selling soap,
Dialogue: 0,0:05:12.52,0:05:14.31,Default,,0000,0000,0000,,it's about making sure
Dialogue: 0,0:05:14.31,0:05:15.97,Default,,0000,0000,0000,,that in the process of doing so
Dialogue: 0,0:05:15.97,0:05:18.17,Default,,0000,0000,0000,,you can change people's lives.
Dialogue: 0,0:05:18.17,0:05:21.50,Default,,0000,0000,0000,,Small actions, big difference.
Dialogue: 0,0:05:21.50,0:05:23.06,Default,,0000,0000,0000,,Our R and D folks
Dialogue: 0,0:05:23.06,0:05:26.72,Default,,0000,0000,0000,,are not only working to give us some fantastic detergents,
Dialogue: 0,0:05:26.72,0:05:29.54,Default,,0000,0000,0000,,but they're working to make sure we use less water.
Dialogue: 0,0:05:29.54,0:05:31.74,Default,,0000,0000,0000,,A product that we've just launched recently,
Dialogue: 0,0:05:31.74,0:05:35.18,Default,,0000,0000,0000,,one-rinse product that allows you to save water
Dialogue: 0,0:05:35.18,0:05:37.42,Default,,0000,0000,0000,,every time you wash your clothes.
Dialogue: 0,0:05:37.42,0:05:40.37,Default,,0000,0000,0000,,And if we can convert all our users to using this,
Dialogue: 0,0:05:40.37,0:05:42.61,Default,,0000,0000,0000,,that's 500 billion liters of water.
Dialogue: 0,0:05:42.61,0:05:44.88,Default,,0000,0000,0000,,By the way thats equivalent to one month of water
Dialogue: 0,0:05:44.88,0:05:48.31,Default,,0000,0000,0000,,for a whole huge continent.
Dialogue: 0,0:05:48.31,0:05:49.95,Default,,0000,0000,0000,,So just think about it --
Dialogue: 0,0:05:49.95,0:05:53.34,Default,,0000,0000,0000,,there are small actions that can make a big difference.
Dialogue: 0,0:05:53.34,0:05:55.01,Default,,0000,0000,0000,,And I can go on and on.
Dialogue: 0,0:05:55.01,0:05:56.24,Default,,0000,0000,0000,,Our food chain,
Dialogue: 0,0:05:56.24,0:05:57.85,Default,,0000,0000,0000,,our brilliant products and I'm sorry
Dialogue: 0,0:05:57.85,0:05:59.84,Default,,0000,0000,0000,,I'm giving you a word from the sponsors
Dialogue: 0,0:05:59.84,0:06:03.20,Default,,0000,0000,0000,,(unclear), Helman and all those wonderful products
Dialogue: 0,0:06:03.20,0:06:05.21,Default,,0000,0000,0000,,we are committed to making sure that
Dialogue: 0,0:06:05.21,0:06:07.14,Default,,0000,0000,0000,,all our agricultural raw materials
Dialogue: 0,0:06:07.14,0:06:09.94,Default,,0000,0000,0000,,are sourced from sustainable sources.
Dialogue: 0,0:06:09.94,0:06:12.15,Default,,0000,0000,0000,,100 percent sustainable sources.
Dialogue: 0,0:06:12.15,0:06:13.59,Default,,0000,0000,0000,,We were the first
Dialogue: 0,0:06:13.59,0:06:15.80,Default,,0000,0000,0000,,to say we are going to buy all of our palm oil
Dialogue: 0,0:06:15.80,0:06:17.82,Default,,0000,0000,0000,,from sustainable sources.
Dialogue: 0,0:06:17.82,0:06:21.76,Default,,0000,0000,0000,,I don't know how many of you know that palm oil
Dialogue: 0,0:06:21.76,0:06:24.08,Default,,0000,0000,0000,,and not buying it from sustainable sources
Dialogue: 0,0:06:24.08,0:06:27.22,Default,,0000,0000,0000,,can create deforestation that is responsible
Dialogue: 0,0:06:27.22,0:06:29.54,Default,,0000,0000,0000,,for 20 percent of the greenhouse gasses in the world.
Dialogue: 0,0:06:29.54,0:06:31.93,Default,,0000,0000,0000,,We were the first to embrace that
Dialogue: 0,0:06:31.93,0:06:36.36,Default,,0000,0000,0000,,and it's all because we market soap and soup.
Dialogue: 0,0:06:36.36,0:06:38.49,Default,,0000,0000,0000,,And the point I'm making here
Dialogue: 0,0:06:38.49,0:06:41.88,Default,,0000,0000,0000,,is that companies like yours, companies like mine
Dialogue: 0,0:06:41.88,0:06:44.05,Default,,0000,0000,0000,,have to define a purpose
Dialogue: 0,0:06:44.05,0:06:46.39,Default,,0000,0000,0000,,which embraces responsibility
Dialogue: 0,0:06:46.39,0:06:48.98,Default,,0000,0000,0000,,and understands that we have to play our part
Dialogue: 0,0:06:48.98,0:06:51.96,Default,,0000,0000,0000,,in the communities in which we operate.
Dialogue: 0,0:06:51.96,0:06:54.02,Default,,0000,0000,0000,,We introduced something called
Dialogue: 0,0:06:54.02,0:06:56.46,Default,,0000,0000,0000,,The Unilever Sustainable Living Plan which said,
Dialogue: 0,0:06:56.46,0:07:00.02,Default,,0000,0000,0000,,our purpose is to make sustainable living commonplace
Dialogue: 0,0:07:00.02,0:07:02.89,Default,,0000,0000,0000,,and we are gong to change the lives of 1 billion people
Dialogue: 0,0:07:02.89,0:07:04.69,Default,,0000,0000,0000,,over 2020.
Dialogue: 0,0:07:04.69,0:07:05.89,Default,,0000,0000,0000,,Now the question here is,
Dialogue: 0,0:07:05.89,0:07:07.04,Default,,0000,0000,0000,,where do we go from here?
Dialogue: 0,0:07:07.04,0:07:08.99,Default,,0000,0000,0000,,And the answer to that is very simple.
Dialogue: 0,0:07:08.99,0:07:11.31,Default,,0000,0000,0000,,We're not going to change the world alone.
Dialogue: 0,0:07:11.31,0:07:13.64,Default,,0000,0000,0000,,There are plenty of you and plenty of us
Dialogue: 0,0:07:13.64,0:07:15.46,Default,,0000,0000,0000,,who understand this
Dialogue: 0,0:07:15.46,0:07:16.50,Default,,0000,0000,0000,,the question is
Dialogue: 0,0:07:16.50,0:07:19.02,Default,,0000,0000,0000,,we need partnerships, we need coalitions
Dialogue: 0,0:07:19.02,0:07:21.81,Default,,0000,0000,0000,,and importantly, we need that leadership
Dialogue: 0,0:07:21.81,0:07:24.55,Default,,0000,0000,0000,,that will allow us to take this from here
Dialogue: 0,0:07:24.55,0:07:25.84,Default,,0000,0000,0000,,and to be the change
Dialogue: 0,0:07:25.84,0:07:27.38,Default,,0000,0000,0000,,that we want to see around us.
Dialogue: 0,0:07:27.38,0:07:28.70,Default,,0000,0000,0000,,Thank you very much.
Dialogue: 0,0:07:28.70,9:59:59.99,Default,,0000,0000,0000,,(Applause)