Last weekend I attended the 2011 Blogher 11 conference in San Diego, CA. This was an amazing adventure and a life changing event for me. Over 3000 people in attendance all focused on changing the world one blog entry at a time. I only have one word.. “inspiring”.
One of the most amazing conversation that I have ever witness was given by the female CEO of PepsiCo INDRA NOOYI. Here is a part of the transcript from this keynote conversation.
“Yeah, so Pepsico set up a Women’s Inspiration Network. What we wanted to do is create this network where stories of inspiration about women, about what is happening in society around the world can be brought into a central place. And we connect stories and post them here.
So women can go into this women’s inspiration network and actually listen to these stories and draw lessons for themselves.
At this conference we are announcing we are going to select three correspondents from people who apply to be a correspondent for Pepsico’s WIN Network. You can go to the WIN website and register and post your stories. We are going to pick three people who are going to travel the length and breadth of the United States at Pepsico’s expense, collecting stories that are uplifting that really provide inspiration to women so we can keep this WIN process going and keep refreshing and updating it.
At this conference we will announce we are going to select three people who will be correspondents for us in the project.
Apply for this job. It will be a wonderful assignment for the three lucky people selected for this.”
“I think it’s very important that companies should not forget that we are big. We are agents of efficiency and effectiveness, the world cannot be solved by governments alone, cannot be solved by people alone. It has to be solved in partnership between companies and governments. Public private partnerships are the only way things can work.
Go back. What happened, why did we have the crisis in 2008 that has brought global economies down? It was a maniacal focus on performance to the expense of everything else. I think it’s capitalism that ran amok, is what it was. Capitalism is fantastic, it spurs innovation and creates wealth. All of this is fantastic.
But capitalism without a conscience is dangerous.
And I think that’s what happened. And Performance with Purpose is saying: Yes, performance is critically important, but let’s make sure performance is done the right way, delivered the right way with the view to the long term, not just the short term. With a view to carefully thinking through what’s your impact on all stakeholders, not just the shareholder?
Because you cannot enrich the shareholder at the expense of the other stakeholders: Your employees, your consumers, regulatory bodies, society. You cannot enrich a company at the expense of the others. If you did that, somebody else has to pick up the cost or fix all of the issues that you’ve created.
Performance basically says companies should do better by doing better. We set ourselves a goal which says we are going to be the best performer financially. We are going to do it with an eye to the long term. We are going to do it with an eye to making sure our portfolio has a balanced range of products from treats to healthy eats.
Make sure everything we do is environmentally sustainable.
But most importantly, we want to create a company where every employee can bring their whole selves to work. I say that, Willow, because we see that many people who live in the communities, the cities we work in, they come and park themselves at the door. Come to the company, they’re a different person. When they leave they pick themselves up and go out again.
That’s not how it should be. It should be seamless. We want to create an environment in Pepsico where we can get the best out of everyone. Taken together, it’s Performance with Purpose. It’s just a way of saying capitalism should have conscience.
I only have one word, “amazing”.
Read more tomorrow at: Cookingintheburbs.com