Kris Gopalakrishnan, CEO, Infosys, shares his thoughts on Creative Capitalism & Infosys’ social initiatives in this exclusive interview with Priyanka Rajpal of B&E
Q: What are your viewpoints about Creative Capitalism? Is it necessary?
KG: Capitalism can be successful only if its benefits reach out to all sections of society, especially the socially and economically disadvantaged. There are large sections of society across the globe who have not benefited from capitalism – simply because what they need and want is not of interest to mainstream capitalism and profit-making organizations. There is a need for companies to be creative and innovate so that more people can benefit; at the same time fulfilling the basic criterion of capitalism – to make profits. This is Creative Capitalism, which makes it possible for companies to provide benefits to people who aren’t its direct stakeholders, while also maintaining its profitability.
There is a need for companies to think one step further, and explore options to extend the benefits of their businesses to a wider audience. Today’s society is increasingly networked and inter-linked, and Creative Capitalism can help both the common man as well as corporates, since it is an all-inclusive strategy. Innovative thinking and technology help reduce cost, and as a result, can make a visible difference in the lives of the underprivileged. When the quality of life afforded to these sections of society improves, they will in turn, stimulate demand for products and affordable technology.
Q: What as per you are the benefits from following Creative Capitalism?
KG: Creative Capitalism benefits all groups involved in the life cycle of a business transaction. For companies, Creative Capitalism drives innovation – it makes people sit up and think differently, develop new business models, which could mean a new product or an opportunity to break into a previously untapped market. This may be profit-motivated or out of pure goodwill.
While wealth is concentrated amongst certain pockets, many corporates address only these pockets. If a conscious effort is made to address the millions who exist out of these pockets, several issues like the alleviation of poverty can be addressed, while also increasing the markets that companies cater to.
From an industry point of view, Creative Capitalism helps companies establish themselves as brands with a conscience; as socially-progressive, involved and committed to a larger audience than just customers, employees and investors. For society in general, it means the opportunity and access to offerings that were not previously available to them, through a focused effort targeted at addressing their needs and requirements.
Q: What are your viewpoints about Creative Capitalism? Is it necessary?
KG: Capitalism can be successful only if its benefits reach out to all sections of society, especially the socially and economically disadvantaged. There are large sections of society across the globe who have not benefited from capitalism – simply because what they need and want is not of interest to mainstream capitalism and profit-making organizations. There is a need for companies to be creative and innovate so that more people can benefit; at the same time fulfilling the basic criterion of capitalism – to make profits. This is Creative Capitalism, which makes it possible for companies to provide benefits to people who aren’t its direct stakeholders, while also maintaining its profitability.
There is a need for companies to think one step further, and explore options to extend the benefits of their businesses to a wider audience. Today’s society is increasingly networked and inter-linked, and Creative Capitalism can help both the common man as well as corporates, since it is an all-inclusive strategy. Innovative thinking and technology help reduce cost, and as a result, can make a visible difference in the lives of the underprivileged. When the quality of life afforded to these sections of society improves, they will in turn, stimulate demand for products and affordable technology.
Q: What as per you are the benefits from following Creative Capitalism?
KG: Creative Capitalism benefits all groups involved in the life cycle of a business transaction. For companies, Creative Capitalism drives innovation – it makes people sit up and think differently, develop new business models, which could mean a new product or an opportunity to break into a previously untapped market. This may be profit-motivated or out of pure goodwill.
While wealth is concentrated amongst certain pockets, many corporates address only these pockets. If a conscious effort is made to address the millions who exist out of these pockets, several issues like the alleviation of poverty can be addressed, while also increasing the markets that companies cater to.
From an industry point of view, Creative Capitalism helps companies establish themselves as brands with a conscience; as socially-progressive, involved and committed to a larger audience than just customers, employees and investors. For society in general, it means the opportunity and access to offerings that were not previously available to them, through a focused effort targeted at addressing their needs and requirements.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
and Arindam Chaudhuri (Renowned Management Guru and Economist).
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