[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:00.49,0:00:03.92,Default,,0000,0000,0000,,The entire model of capitalism
Dialogue: 0,0:00:03.92,0:00:06.10,Default,,0000,0000,0000,,and the economic model that you and I
Dialogue: 0,0:00:06.10,0:00:07.78,Default,,0000,0000,0000,,did business in,
Dialogue: 0,0:00:07.78,0:00:09.61,Default,,0000,0000,0000,,and, in fact, continue to do business in,
Dialogue: 0,0:00:09.61,0:00:13.23,Default,,0000,0000,0000,,was built around what probably Milton Friedman
Dialogue: 0,0:00:13.23,0:00:14.95,Default,,0000,0000,0000,,put more succinctly.
Dialogue: 0,0:00:14.95,0:00:17.53,Default,,0000,0000,0000,,And Adam Smith, of course, \Nthe father of modern economics
Dialogue: 0,0:00:17.53,0:00:19.88,Default,,0000,0000,0000,,actually said many, many years ago,
Dialogue: 0,0:00:19.88,0:00:21.40,Default,,0000,0000,0000,,the invisible hand,
Dialogue: 0,0:00:21.40,0:00:23.05,Default,,0000,0000,0000,,which is, "If you continue to operate
Dialogue: 0,0:00:23.05,0:00:25.17,Default,,0000,0000,0000,,in your own self-interest
Dialogue: 0,0:00:25.17,0:00:27.92,Default,,0000,0000,0000,,you will do the best good for society."
Dialogue: 0,0:00:27.92,0:00:32.65,Default,,0000,0000,0000,,Now, capitalism has done a lot of good things
Dialogue: 0,0:00:32.65,0:00:35.46,Default,,0000,0000,0000,,and I've talked about a lot of good \Nthings that have happened,
Dialogue: 0,0:00:35.46,0:00:38.84,Default,,0000,0000,0000,,but equally, it has not been able to meet up
Dialogue: 0,0:00:38.84,0:00:40.78,Default,,0000,0000,0000,,with some of the challenges that we've seen
Dialogue: 0,0:00:40.78,0:00:42.44,Default,,0000,0000,0000,,in society.
Dialogue: 0,0:00:42.44,0:00:44.65,Default,,0000,0000,0000,,The model that at least I was brought up in
Dialogue: 0,0:00:44.65,0:00:46.93,Default,,0000,0000,0000,,and a lot of us doing\Nbusiness were brought up in
Dialogue: 0,0:00:46.93,0:00:48.64,Default,,0000,0000,0000,,was one which talked about
Dialogue: 0,0:00:48.64,0:00:51.07,Default,,0000,0000,0000,,what I call the three G's of growth:
Dialogue: 0,0:00:51.07,0:00:52.66,Default,,0000,0000,0000,,growth that is consistent,\N
Dialogue: 0,0:00:52.66,0:00:54.18,Default,,0000,0000,0000,,quarter on quarter;
Dialogue: 0,0:00:54.18,0:00:55.62,Default,,0000,0000,0000,,growth that is competitive,
Dialogue: 0,0:00:55.62,0:00:56.95,Default,,0000,0000,0000,,better than the other person;
Dialogue: 0,0:00:56.95,0:00:58.51,Default,,0000,0000,0000,,and growth that is profitable,
Dialogue: 0,0:00:58.51,0:01:00.00,Default,,0000,0000,0000,,so you continue to make
Dialogue: 0,0:01:00.00,0:01:02.92,Default,,0000,0000,0000,,more and more shareholder value.
Dialogue: 0,0:01:02.92,0:01:05.71,Default,,0000,0000,0000,,And I'm afraid this is not going to be good enough
Dialogue: 0,0:01:05.71,0:01:08.37,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: 0,0:01:21.80,0:01:23.68,Default,,0000,0000,0000,,of creating value.
Dialogue: 0,0:01:23.68,0:01:26.40,Default,,0000,0000,0000,,Of not just creating economic value
Dialogue: 0,0:01:26.40,0:01:28.85,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: 0,0:01:31.65,0:01:35.02,Default,,0000,0000,0000,,that will actually embrace the fourth G.
Dialogue: 0,0:01:35.02,0:01:38.04,Default,,0000,0000,0000,,And the model of 4G is quite simple:
Dialogue: 0,0:01:38.04,0:01:41.82,Default,,0000,0000,0000,,Companies cannot afford \Nto be just innocent bystanders
Dialogue: 0,0:01:41.82,0:01:44.15,Default,,0000,0000,0000,,in what's happening around in society.
Dialogue: 0,0:01:44.15,0:01:47.72,Default,,0000,0000,0000,,They have to begin to play their role
Dialogue: 0,0:01:47.72,0:01:49.88,Default,,0000,0000,0000,,in terms of serving the communities
Dialogue: 0,0:01:49.88,0:01:51.98,Default,,0000,0000,0000,,which actually sustain them.
Dialogue: 0,0:01:51.98,0:01:53.67,Default,,0000,0000,0000,,And we have to move to a model
Dialogue: 0,0:01:53.67,0:01:55.77,Default,,0000,0000,0000,,of an and/and model which is
Dialogue: 0,0:01:55.77,0:01:59.25,Default,,0000,0000,0000,,how do we make money and do good?
Dialogue: 0,0:01:59.25,0:02:01.06,Default,,0000,0000,0000,,How do we make sure
Dialogue: 0,0:02:01.06,0:02:02.64,Default,,0000,0000,0000,,that we have a great business
Dialogue: 0,0:02:02.64,0:02:05.51,Default,,0000,0000,0000,,but we also have a great environment around us?
Dialogue: 0,0:02:05.51,0:02:06.83,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: 0,0:02:09.80,0:02:12.12,Default,,0000,0000,0000,,But the question is easier said than done.
Dialogue: 0,0:02:12.12,0:02:14.26,Default,,0000,0000,0000,,But how do we actually get that done?
Dialogue: 0,0:02:14.26,0:02:15.60,Default,,0000,0000,0000,,And I do believe
Dialogue: 0,0:02:15.60,0:02:18.69,Default,,0000,0000,0000,,that the answer to that is going to be leadership.
Dialogue: 0,0:02:18.69,0:02:20.05,Default,,0000,0000,0000,,It is going to be to redefine
Dialogue: 0,0:02:20.05,0:02:21.92,Default,,0000,0000,0000,,the new business models
Dialogue: 0,0:02:21.92,0:02:23.26,Default,,0000,0000,0000,,which understand
Dialogue: 0,0:02:23.26,0:02:25.27,Default,,0000,0000,0000,,that the only license to operate
Dialogue: 0,0:02:25.27,0:02:27.41,Default,,0000,0000,0000,,is to combine these things.
Dialogue: 0,0:02:27.41,0:02:29.34,Default,,0000,0000,0000,,And for that you need businesses
Dialogue: 0,0:02:29.34,0:02:32.10,Default,,0000,0000,0000,,that can actually define their role
Dialogue: 0,0:02:32.10,0:02:34.18,Default,,0000,0000,0000,,in society
Dialogue: 0,0:02:34.18,0:02:35.83,Default,,0000,0000,0000,,in terms of a much larger purpose
Dialogue: 0,0:02:35.83,0:02:38.66,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 a true north,
Dialogue: 0,0:02:41.89,0:02:43.64,Default,,0000,0000,0000,,things that are nonnegotiable
Dialogue: 0,0:02:43.64,0:02:46.20,Default,,0000,0000,0000,,whether times are good, bad, ugly --
Dialogue: 0,0:02:46.20,0:02:47.46,Default,,0000,0000,0000,,doesn't matter.
Dialogue: 0,0:02:47.46,0:02:49.63,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: 0,0:02:54.12,0:02:56.26,Default,,0000,0000,0000,,drivers of software
Dialogue: 0,0:02:56.26,0:02:57.97,Default,,0000,0000,0000,,that are going to create
Dialogue: 0,0:02:57.97,0:03:00.03,Default,,0000,0000,0000,,the companies of tomorrow.
Dialogue: 0,0:03:00.03,0:03:01.44,Default,,0000,0000,0000,,And I'm going to now shift
Dialogue: 0,0:03:01.44,0:03:05.46,Default,,0000,0000,0000,,to talking a little bit about my own experiences.
Dialogue: 0,0:03:05.46,0:03:08.34,Default,,0000,0000,0000,,I joined Unilever in 1976
Dialogue: 0,0:03:08.34,0:03:11.47,Default,,0000,0000,0000,,as a management trainee 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: 0,0:03:16.14,0:03:18.25,Default,,0000,0000,0000,,"Do you know why you're here?"
Dialogue: 0,0:03:18.25,0:03:21.54,Default,,0000,0000,0000,,I said, "I'm here to sell a lot of soap."
Dialogue: 0,0:03:21.54,0:03:24.63,Default,,0000,0000,0000,,And he said, \N"No, you're here to change lives."
Dialogue: 0,0:03:24.63,0:03:26.92,Default,,0000,0000,0000,,You're here to change lives.
Dialogue: 0,0:03:26.92,0:03:28.55,Default,,0000,0000,0000,,You know, I thought it was rather facetious.
Dialogue: 0,0:03:28.55,0:03:31.37,Default,,0000,0000,0000,,We are 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: 0,0:03:34.24,0:03:38.25,Default,,0000,0000,0000,,And it's then I realized
Dialogue: 0,0:03:38.25,0:03:40.58,Default,,0000,0000,0000,,that simple acts
Dialogue: 0,0:03:40.58,0:03:43.01,Default,,0000,0000,0000,,like selling a bar of soap
Dialogue: 0,0:03:43.01,0:03:44.50,Default,,0000,0000,0000,,can save more lives
Dialogue: 0,0:03:44.50,0:03:45.98,Default,,0000,0000,0000,,than pharmaceutical companies.
Dialogue: 0,0:03:45.98,0:03:47.60,Default,,0000,0000,0000,,I don't know how many of you know
Dialogue: 0,0:03:47.60,0:03:50.93,Default,,0000,0000,0000,,that five million children don't reach the age of five
Dialogue: 0,0:03:50.93,0:03:53.81,Default,,0000,0000,0000,,because of simple infections that can be prevented
Dialogue: 0,0:03:53.81,0:03:56.75,Default,,0000,0000,0000,,by an act of washing their hands with soap.
Dialogue: 0,0:03:56.75,0:03:58.20,Default,,0000,0000,0000,,We run the largest
Dialogue: 0,0:03:58.20,0:03:59.43,Default,,0000,0000,0000,,hand-washing program
Dialogue: 0,0:03:59.43,0:04:00.33,Default,,0000,0000,0000,,in the world.
Dialogue: 0,0:04:00.33,0:04:02.50,Default,,0000,0000,0000,,We are running a program on hygiene and health
Dialogue: 0,0:04:02.50,0:04:04.100,Default,,0000,0000,0000,,that now touches half a billion people.
Dialogue: 0,0:04:04.100,0:04:06.60,Default,,0000,0000,0000,,It's not about selling soap,
Dialogue: 0,0:04:06.60,0:04:08.56,Default,,0000,0000,0000,,there is a larger purpose out there.
Dialogue: 0,0:04:08.56,0:04:10.62,Default,,0000,0000,0000,,And brands indeed can be
Dialogue: 0,0:04:10.62,0:04:12.62,Default,,0000,0000,0000,,at the forefront of social change.
Dialogue: 0,0:04:12.62,0:04:14.28,Default,,0000,0000,0000,,And the reason for that is,
Dialogue: 0,0:04:14.28,0:04:16.89,Default,,0000,0000,0000,,when two billion people use your brands
Dialogue: 0,0:04:16.89,0:04:18.54,Default,,0000,0000,0000,,that's the amplifier.
Dialogue: 0,0:04:18.54,0:04:21.74,Default,,0000,0000,0000,,Small actions can make a big difference.
Dialogue: 0,0:04:21.74,0:04:23.28,Default,,0000,0000,0000,,Take another example,
Dialogue: 0,0:04:23.28,0:04:26.55,Default,,0000,0000,0000,,I was walking around in \None of our villages in India.
Dialogue: 0,0:04:26.55,0:04:28.19,Default,,0000,0000,0000,,Now those of you who have done this
Dialogue: 0,0:04:28.19,0:04:33.37,Default,,0000,0000,0000,,will realize that this is no walk in the park.
Dialogue: 0,0:04:33.37,0:04:35.94,Default,,0000,0000,0000,,And we had this lady
Dialogue: 0,0:04:35.94,0:04:40.08,Default,,0000,0000,0000,,who was 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: 0,0:04:49.82,0:04:52.04,Default,,0000,0000,0000,,and her sister-in-law behind her.
Dialogue: 0,0:04:52.04,0:04:54.11,Default,,0000,0000,0000,,The social order was changing
Dialogue: 0,0:04:54.11,0:04:55.86,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 Shakti
Dialogue: 0,0:04:57.100,0:05:00.28,Default,,0000,0000,0000,,that is actually teaching women
Dialogue: 0,0:05:00.28,0:05:02.15,Default,,0000,0000,0000,,how to do small business
Dialogue: 0,0:05:02.15,0:05:03.33,Default,,0000,0000,0000,,and how to carry the message
Dialogue: 0,0:05:03.33,0:05:05.98,Default,,0000,0000,0000,,of nutrition and hygiene.
Dialogue: 0,0:05:05.98,0:05:08.18,Default,,0000,0000,0000,,We have 60,000 such women
Dialogue: 0,0:05:08.18,0:05:10.04,Default,,0000,0000,0000,,now in India.
Dialogue: 0,0:05:10.04,0:05:12.49,Default,,0000,0000,0000,,It's not about selling soap,
Dialogue: 0,0:05:12.49,0:05:13.94,Default,,0000,0000,0000,,it's about making sure
Dialogue: 0,0:05:13.94,0:05:15.98,Default,,0000,0000,0000,,that in the process of doing so
Dialogue: 0,0:05:15.98,0:05:18.17,Default,,0000,0000,0000,,you can change people's lives.
Dialogue: 0,0:05:18.17,0:05:21.37,Default,,0000,0000,0000,,Small actions, big difference.
Dialogue: 0,0:05:21.37,0:05:23.09,Default,,0000,0000,0000,,Our R&D folks
Dialogue: 0,0:05:23.09,0:05:26.72,Default,,0000,0000,0000,,are not only working to give us \Nsome fantastic detergents,
Dialogue: 0,0:05:26.72,0:05:29.49,Default,,0000,0000,0000,,but they're working to make sure we use less water.
Dialogue: 0,0:05:29.49,0:05:31.65,Default,,0000,0000,0000,,A product that we've just launched recently,
Dialogue: 0,0:05:31.65,0:05:35.18,Default,,0000,0000,0000,,One Rinse product that allows you to save water
Dialogue: 0,0:05:35.18,0:05:37.36,Default,,0000,0000,0000,,every time you wash your clothes.
Dialogue: 0,0:05:37.36,0:05:40.38,Default,,0000,0000,0000,,And if we can convert all our users to using this,
Dialogue: 0,0:05:40.38,0:05:42.61,Default,,0000,0000,0000,,that's 500 billion liters of water.
Dialogue: 0,0:05:42.61,0:05:44.91,Default,,0000,0000,0000,,By the way, that's equivalent to one month of water
Dialogue: 0,0:05:44.91,0:05:48.09,Default,,0000,0000,0000,,for a whole huge continent.
Dialogue: 0,0:05:48.09,0:05:49.77,Default,,0000,0000,0000,,So just think about it.
Dialogue: 0,0:05:49.77,0:05:53.34,Default,,0000,0000,0000,,There are small actions that \Ncan make a big difference.
Dialogue: 0,0:05:53.34,0:05:54.95,Default,,0000,0000,0000,,And I can go on and on.
Dialogue: 0,0:05:54.95,0:05:57.05,Default,,0000,0000,0000,,Our food chain, our brilliant products --
Dialogue: 0,0:05:57.05,0:05:59.42,Default,,0000,0000,0000,,and I'm sorry I'm giving you \Na word from the sponsors --
Dialogue: 0,0:05:59.42,0:06:03.12,Default,,0000,0000,0000,,Knorr, Hellman's and all those wonderful products.
Dialogue: 0,0:06:03.12,0:06:05.18,Default,,0000,0000,0000,,We are committed to making sure that
Dialogue: 0,0:06:05.18,0:06:07.14,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: 0,0:06:09.94,0:06:12.04,Default,,0000,0000,0000,,100-percent sustainable sources.
Dialogue: 0,0:06:12.04,0:06:13.59,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: 0,0:06:15.80,0:06:17.76,Default,,0000,0000,0000,,from sustainable sources.
Dialogue: 0,0:06:17.76,0:06:21.68,Default,,0000,0000,0000,,I don't know how many of you know that palm oil,
Dialogue: 0,0:06:21.68,0:06:24.10,Default,,0000,0000,0000,,and not buying it from sustainable sources,
Dialogue: 0,0:06:24.10,0:06:26.70,Default,,0000,0000,0000,,can create deforestation that is responsible
Dialogue: 0,0:06:26.70,0:06:29.24,Default,,0000,0000,0000,,for 20 percent of the greenhouse gasses in the world.
Dialogue: 0,0:06:29.24,0:06:31.76,Default,,0000,0000,0000,,We were the first to embrace that,
Dialogue: 0,0:06:31.76,0:06:36.16,Default,,0000,0000,0000,,and it's all because we market soap and soup.
Dialogue: 0,0:06:36.16,0:06:38.36,Default,,0000,0000,0000,,And the point I'm making here
Dialogue: 0,0:06:38.36,0:06:41.88,Default,,0000,0000,0000,,is that companies like yours, companies like mine
Dialogue: 0,0:06:41.88,0:06:44.00,Default,,0000,0000,0000,,have to define a purpose
Dialogue: 0,0:06:44.00,0:06:46.28,Default,,0000,0000,0000,,which embraces responsibility
Dialogue: 0,0:06:46.28,0:06:48.98,Default,,0000,0000,0000,,and understands that we have to play our part
Dialogue: 0,0:06:48.98,0:06:51.82,Default,,0000,0000,0000,,in the communities in which we operate.
Dialogue: 0,0:06:51.82,0:06:53.72,Default,,0000,0000,0000,,We introduced something called
Dialogue: 0,0:06:53.72,0:06:56.46,Default,,0000,0000,0000,,The Unilever Sustainable Living Plan, which said,
Dialogue: 0,0:06:56.46,0:06:59.35,Default,,0000,0000,0000,,"Our purpose is to make \Nsustainable living commonplace,
Dialogue: 0,0:06:59.35,0:07:01.18,Default,,0000,0000,0000,,and we are gong to change the lives
Dialogue: 0,0:07:01.18,0:07:03.90,Default,,0000,0000,0000,,of one billion people over 2020."
Dialogue: 0,0:07:03.90,0:07:05.70,Default,,0000,0000,0000,,Now the question here is,
Dialogue: 0,0:07:05.70,0:07:07.22,Default,,0000,0000,0000,,where do we go from here?
Dialogue: 0,0:07:07.22,0:07:09.14,Default,,0000,0000,0000,,And the answer to that is very simple:
Dialogue: 0,0:07:09.14,0:07:11.28,Default,,0000,0000,0000,,We're not going to change the world alone.
Dialogue: 0,0:07:11.28,0:07:13.87,Default,,0000,0000,0000,,There are plenty of you and plenty of us
Dialogue: 0,0:07:13.87,0:07:15.34,Default,,0000,0000,0000,,who understand this.
Dialogue: 0,0:07:15.34,0:07:16.50,Default,,0000,0000,0000,,The question is,
Dialogue: 0,0:07:16.50,0:07:19.13,Default,,0000,0000,0000,,we need partnerships, we need coalitions
Dialogue: 0,0:07:19.13,0:07:21.59,Default,,0000,0000,0000,,and importantly, we need that leadership
Dialogue: 0,0:07:21.59,0:07:24.55,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: 0,0:07:28.70,0:07:32.51,Default,,0000,0000,0000,,(Applause)