We kicked off with Peetr describing some of his research.
The one thing which I think came out most strongly was the importance of having a social purpose.
Ed Miliband may now recognise that “we need a more ethical capitalism in which we recognise that business has real responsibilities. Business is not just about making money.” (though he doesn’t seem to be getting much support for these views) but in India that’s long been the way things are done.
Social purpose drives the business and making money certainly won’t be what you want to lead with. This approach pays off – employees will be more motivated when they see and believe there is a social purpose.
We then had a presentation from Rajeev Dubey, President at Mahindra & Mahindra.
M&M are creating Tomorrow’s Company. This is a business transformation created from a cultural transformation (creating value) – about moving people from the subtext to the headlines, and aligning behaviours in support of the triple bottom line.
The transformation requires a mix a logic and intuition, in which people are in the flow – and can go deep into any situation, and trust through authenticity.
M&M run fireside chats to connect young employees with senior execs (these are also streamed virtually).
And they provide ESOPs but these are employee social (vs share) options –facilitating employee volunteerism in social activities.
I thought this was a great presentation – absolutely the way that companies should be run.
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