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TEDxWaterfrontWomen Estelle Joubert Westling

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Like Beata just said: it is always somewhat intimidating to walk on stage after the other speakers. In particular the ones who spoke in the USA. It is great to be here, thank you for the invitation. I'll just show you this picture at once. Since long we have had a quite clear picture of what happiness and status mean in our society. Happiness and status correlates to consumption - the more you consume, the happier you'll get. When you have a big house, a big car and a slim wife, that is when you have reached the ideal in life. However, these values are progressively getting challenged. A new consumer group has emerged. This group of consumers think of the challenges we face in today's society and they take these into consideration when they shop, and in the way they live their lives. Today, we are facing enormous challenges, ranging from social challenges to environmental ones as well as the ones related to climate change. Some of us do not want to understand or accept the situation, but when you think about that it is not that strange. The reality of these challenges lie far into the future and prevention hasn't been humanity's strong suit. These challenges involve a large number of people and it is always easier to act and react if it concerns only one single person. We do not see it happening. There are no glaciers or polar ice caps melting flooding the city, coming down the Klaraberg viaduct. We are talking about a 'drop-in-the-bucket effect' Things change one drop at the time, a process that is difficult to recognize and accept. These guys struggle to accept it. I'm sure you've all heard about the climate meeting that took place in Copenhagen. By the way, it's a climate meeting in Durban right now. The meeting in Copenhagen was was first known as 'Hopenhagen' but eventually turned into 'Flopenhagen' 10 000 people gathered with the intention to set a new climate change goal. Unfortunately, the result was 'Flopenhagen' - no agreement was reached. And this new consumer group that doesn't value happiness and status in terms of how much you consume, they expect all actors to take responsibility for their actions and businesses. If these guys fail to take responsibility, who should do it? Out of the 100 greatest economies in the world today, corporations account for 45 of them. So basically, if you compare the size of the GDP of a country with the annual turnover of a corporation, 45 corporations are bigger than countries. Walmart's turnover equals the GDP of Sweden. What an enormous responsibility, what an enormous footprint but bear in mind - here lies also a great opportunity for Walmart to change things to the better. You probably know of this term - CSR. For quite a while we have been talking about CSR as "Minimizing the negative impact on the surroundings" Is it possible to go further than this? Can we move beyond 'responsibility'? I argue that CSR is about 'Beyond CSR' - how we can maximize the positive impact on the surroundings. This examplifies how a company can be an actor for change, a catalyst for change in society and in the world at large. I titled today's seminar 'cool head, warm heart', because I believe there is a huge potential for companies to combine the logical with the emotional when they do business. There is a new consumer group that appreciates this, and there is a consumer group that demands this. I like to frame this as business innovation, since this is very much related to innovation. Think of product innovation, market innovation, business innovation. Product innovation as in developing a more sustainable product, market innovation as in finding a new target group for which you develop new products. Business innovation is about how to tweak the entire vision behind the company in order to act on and be relevant on the market If you look at the market potential and the new target group, not only in Sweden... ...actually the majority of us present here in this room does not represent the average Swede - Sweden is way more diverse than that. These are people that we can offer a broad selection of good products and good services In addition to this, there is a huge market outside of this country. A market that is growing larger by the minute. This is the so-called 'Bottom of the Pyramid' market. The estimated market value is 900 billion kronor a year. These consumers live on 2,5 USD a day. Consequently, what is needed is to find offers that work on this market taking the contextual circumstances into account And as I mentioned, there is a market in Sweden that has not been sufficiently targeted before. For example, there are 600 000 Muslims in Sweden. and the failure to meet their specific requirements is like saying that you don't work with the whole of Gothenburg. Which would be a bit weird... Above all, there is a potential to reach out to the people who are starting to change their consumer behavior. They say: "Not only do I choose something that will strengthen my personal brand, but also to promote a more holistic world view". This phenomenon has been conceptualized in the USA, it is known as the LOHAS market. 'Lifestyles of Health and Sustainability' The estimated market value of the LOHAS market is 212 billion kronor a year These people do not accept the plain commodities, they want something more - genuine values and thoughts behind it. Not only the consumers want this, it extends to employers, employees, suppliers, customers etc. Everyone is demanding genuine company values. This is what you should think of all the time "People don't buy what you sell, they buy what you stand for" And this is why it is so extremely important that you always communicate your genuine values in a clear way. That is where it all begins. Thank you

Video Details

Duration: 7 minutes and 44 seconds
Country: Sweden
Language: Swedish
Genre: None
Views: 148
Posted by: henrikahlen on Dec 10, 2011

Estelle Joubert Westling “Cool head and warm heart. Potentialen av värderingsstyrt företagande”

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