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Mr Clive Butler
Corporate Development Director, Unilever, UK

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Dr T P Singh
Director, TERI School of Advanced Studies

"Companies are recognizing the need to align their business interests with current developmental thinking."

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Mr Hanns Michael Hoelz
Global Head Sustainable Development, Deutsche Bank, Germany

"The world is waiting for action and not mere communication tools."

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Mr Prasad R Menon
Managing Director, Tata Chemicals Limited, India

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Mr Emmanuel Haton
Senior Advisor on Lower Carbon Growth, BP, UK

"We need to get away from the vicious circle; the situation of those in it is going to get worse."

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Ms Judith Samuelson
Executive Director, Aspen ISIB, USA

"We need to balance the complex relationship between business success and social, and environmental progress."

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Ms Meera Shenoy
Advisor, Society for Elimination of Rural Poverty, Hyderabad, India

"Small efforts should be made to make meaningful differences."

There is a need to reorient business mindsets away from serving affluent clientele towards the less privileged; indeed, we must create business models that increase the purchasing power of the poor. Though corporates cannot replace governments, they must consider the interests of customers, employees, and society beyond their shareholders. Innovative ideas, social networking, and a state-facilitated conducive environment would catalyse this.

Designs of pro-poor business models should derive from experiences, ambitions, and ingenuity of the poor as well as mainstream business skills. By creating markets for rural produce, corporates can strengthen rural economies and also access untapped talent.

Isolationism will not work; businesses must collaborate with NGOs and governments to empower the poor. Micro-credit is an important learning tool in this context. Another innovative form of investment is the ‘financial convergence product’, a combination of working capital, fixed costs, and risk mitigation for sustainable rural development.

Synchronizing the triple bottom line for sustainable development through addition of economic value, harmonization of environmental factors, and building social capital in the community is beneficial.

It is critical to sensitize the managers and leaders of tomorrow about sustainable development principles. Although the current focus is on maximizing shareholder value, core teaching in business schools must integrate social responsibility and management for sustainability. For long-term change, this must also blend into corporate recruitment policies.